IBZL.L vs. DLTM.L
IBZL.L (iShares MSCI Brazil UCITS ETF (Dist)) and DLTM.L (iShares MSCI EM Latin America UCITS ETF) are both Latin America Equities funds from iShares - IBZL.L tracks the MSCI Brazil NR USD while DLTM.L tracks the MSCI EM Latin America NR USD. Both are passively managed. Over the past 10 years, IBZL.L returned 9.70%/yr vs 8.29%/yr for DLTM.L. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.74% expense ratio.
Performance
IBZL.L vs. DLTM.L - Performance Comparison
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Different Trading Currencies
IBZL.L is traded in GBp, while DLTM.L is traded in USD. To make them comparable, the DLTM.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with IBZL.L having a 10.16% return and DLTM.L slightly higher at 10.37%. Over the past 10 years, IBZL.L has outperformed DLTM.L with an annualized return of 9.70%, while DLTM.L has yielded a comparatively lower 8.29% annualized return.
IBZL.L
- 1D
- 0.18%
- 1M
- -12.01%
- YTD
- 10.16%
- 6M
- 3.73%
- 1Y
- 36.12%
- 3Y*
- 9.39%
- 5Y*
- 8.43%
- 10Y*
- 9.70%
DLTM.L
- 1D
- -0.71%
- 1M
- -7.00%
- YTD
- 10.37%
- 6M
- 7.41%
- 1Y
- 37.57%
- 3Y*
- 10.58%
- 5Y*
- 9.75%
- 10Y*
- 8.29%
IBZL.L vs. DLTM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBZL.L iShares MSCI Brazil UCITS ETF (Dist) | 10.16% | 38.28% | -26.04% | 25.61% | 32.04% | -19.06% | -16.73% | 15.40% | 3.61% | 14.78% |
DLTM.L iShares MSCI EM Latin America UCITS ETF | 10.37% | 43.43% | -25.62% | 26.75% | 20.83% | -8.90% | -13.81% | 8.51% | 0.36% | 10.55% |
Correlation
The correlation between IBZL.L and DLTM.L is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2007 | 0.79 |
The correlation between IBZL.L and DLTM.L shifts across timeframes, from 0.79 (all time) to 0.90 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBZL.L vs. DLTM.L — Risk / Return Rank
IBZL.L
DLTM.L
IBZL.L vs. DLTM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) and iShares MSCI EM Latin America UCITS ETF (DLTM.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| IBZL.L | DLTM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.34 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 3.29 | -1.12 |
| Martin ratioReturn relative to average drawdown | 7.39 | 10.16 | -2.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBZL.L | DLTM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | 1.98 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.45 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.32 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.14 | +0.06 |
Drawdowns
IBZL.L vs. DLTM.L - Drawdown Comparison
The maximum IBZL.L drawdown since its inception was -69.44%, which is greater than DLTM.L's maximum drawdown of -58.44%. Use the drawdown chart below to compare losses from any high point for IBZL.L and DLTM.L.
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Drawdown Indicators
| IBZL.L | DLTM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.44% | -58.44% | -11.00% |
Max Drawdown (1Y)Largest decline over 1 year | -16.58% | -11.36% | -5.22% |
Max Drawdown (3Y)Largest decline over 3 years | -27.68% | -26.28% | -1.40% |
Max Drawdown (5Y)Largest decline over 5 years | -28.21% | -26.28% | -1.93% |
Max Drawdown (10Y)Largest decline over 10 years | -51.77% | -47.98% | -3.79% |
Current DrawdownCurrent decline from peak | -16.43% | -11.36% | -5.07% |
Average DrawdownAverage peak-to-trough decline | -21.85% | -20.22% | -1.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.87% | 3.69% | +1.18% |
Volatility
IBZL.L vs. DLTM.L - Volatility Comparison
iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) has a higher volatility of 5.42% compared to iShares MSCI EM Latin America UCITS ETF (DLTM.L) at 5.12%. This indicates that IBZL.L's price experiences larger fluctuations and is considered to be riskier than DLTM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBZL.L | DLTM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.42% | 5.12% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 17.53% | 15.98% | +1.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.29% | 18.87% | +2.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.40% | 21.54% | +4.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.47% | 25.83% | +5.64% |
IBZL.L vs. DLTM.L - Expense Ratio Comparison
Both IBZL.L and DLTM.L have an expense ratio of 0.74%.
Dividends
IBZL.L vs. DLTM.L - Dividend Comparison
IBZL.L's dividend yield for the trailing twelve months is around 5.82%, more than DLTM.L's 3.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DLTM.L iShares MSCI EM Latin America UCITS ETF | 3.50% | 3.54% | 5.77% | 4.23% | 6.82% | 3.20% | 1.66% | 2.31% | 2.17% | 1.47% | 1.44% | 2.98% |
IBZL.L iShares MSCI Brazil UCITS ETF (Dist) | 5.82% | 5.74% | 8.31% | 6.83% | 16.49% | 8.64% | 2.44% | 3.28% | 3.31% | 1.86% | 2.24% | 5.42% |
Frequently Asked Questions
IBZL.L and DLTM.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.74% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IBZL.L and DLTM.L have the same expense ratio: 0.74% per year.
IBZL.L tracks MSCI Brazil NR USD, while DLTM.L tracks MSCI EM Latin America NR USD.
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