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IBZL.L vs. FVUB.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IBZL.L vs. FVUB.L

Last updated Jun 5, 2026

IBZL.L (iShares MSCI Brazil UCITS ETF (Dist)) and FVUB.L (Franklin FTSE Brazil UCITS ETF) are both Latin America Equities funds tracking the MSCI Brazil NR USD, from iShares and Franklin Templeton respectively. Both are passively managed. Over the past 5 years, IBZL.L returned 8.43%/yr vs 7.06%/yr for FVUB.L. With a 0.95 correlation, they move nearly in lockstep. IBZL.L charges 0.74%/yr vs 0.19%/yr for FVUB.L.

Performance

IBZL.L vs. FVUB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) and Franklin FTSE Brazil UCITS ETF (FVUB.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IBZL.L is traded in GBp, while FVUB.L is traded in GBP. To make them comparable, the FVUB.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, IBZL.L achieves a 10.16% return, which is significantly lower than FVUB.L's 14.58% 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%

FVUB.L

1D
-0.62%
1M
-9.72%
YTD
14.58%
6M
9.14%
1Y
36.63%
3Y*
10.68%
5Y*
7.06%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IBZL.L vs. FVUB.L - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
IBZL.L
iShares MSCI Brazil UCITS ETF (Dist)		10.16%38.28%-26.04%25.61%32.04%-19.06%-16.73%7.75%
FVUB.L
Franklin FTSE Brazil UCITS ETF		14.58%35.51%-26.77%26.33%23.83%-15.44%-22.19%-14.94%

Correlation

The correlation between IBZL.L and FVUB.L is 0.93, 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

0.93

Correlation (3Y)
Calculated over the trailing 3-year period

0.95

Correlation (5Y)
Calculated over the trailing 5-year period

0.95

Correlation (All Time)
Calculated using the full available price history since Jun 5, 2019

0.95

The correlation between IBZL.L and FVUB.L has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

IBZL.L vs. FVUB.L - Sectors Allocation Comparison

Sectors
IBZL.L
FVUB.L

Financial Services

33.2%
25.4%

Energy

18.9%
20.6%

Basic Materials

13.7%
15.1%

Utilities

12.7%
14.8%

Industrials

10.8%
11.4%

Consumer Defensive

4.2%
4.0%

Healthcare

2.2%
2.9%

Communication Services

2.0%
2.0%

Consumer Cyclical

1.3%
2.5%

Technology

1.1%
0.7%

Real Estate

-

0.8%

Financial Services

IBZL.L
33.2%
FVUB.L
25.4%

Energy

IBZL.L
18.9%
FVUB.L
20.6%

Basic Materials

IBZL.L
13.7%
FVUB.L
15.1%

Utilities

IBZL.L
12.7%
FVUB.L
14.8%

Industrials

IBZL.L
10.8%
FVUB.L
11.4%

Consumer Defensive

IBZL.L
4.2%
FVUB.L
4.0%

Healthcare

IBZL.L
2.2%
FVUB.L
2.9%

Communication Services

IBZL.L
2.0%
FVUB.L
2.0%

Consumer Cyclical

IBZL.L
1.3%
FVUB.L
2.5%

Technology

IBZL.L
1.1%
FVUB.L
0.7%

Real Estate

IBZL.L

-

FVUB.L
0.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Brazil UCITS ETF (Dist)

Franklin FTSE Brazil UCITS ETF

Often compared with IBZL.L:
IBZL.L vs. EWZIBZL.L vs. EWOIBZL.L vs. SP2D.DEIBZL.L vs. VOOIBZL.L vs. pbrIBZL.L vs. ACWIIBZL.L vs. IJPH.L
Often compared with FVUB.L:
FVUB.L vs. ALAU.LFVUB.L vs. ALAG.LFVUB.L vs. XMLA.LFVUB.L vs. FRQX.LFVUB.L vs. XMBR.LFVUB.L vs. FRIN.LFVUB.L vs. FLXE.L

Return for Risk

IBZL.L vs. FVUB.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IBZL.L
IBZL.L Risk / Return Rank: 4747
Overall Rank
IBZL.L Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
IBZL.L Sortino Ratio Rank: 4747
Sortino Ratio Rank
IBZL.L Omega Ratio Rank: 4747
Omega Ratio Rank
IBZL.L Calmar Ratio Rank: 4545
Calmar Ratio Rank
IBZL.L Martin Ratio Rank: 4545
Martin Ratio Rank
FVUB.L
FVUB.L Risk / Return Rank: 4949
Overall Rank
FVUB.L Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
FVUB.L Sortino Ratio Rank: 4646
Sortino Ratio Rank
FVUB.L Omega Ratio Rank: 4646
Omega Ratio Rank
FVUB.L Calmar Ratio Rank: 5454
Calmar Ratio Rank
FVUB.L Martin Ratio Rank: 5050
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBZL.L vs. FVUB.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 Franklin FTSE Brazil UCITS ETF (FVUB.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.LFVUB.LDifference
Sharpe ratioReturn per unit of total volatility
1.69
1.67

+0.01

Sortino ratioReturn per unit of downside risk
2.30
2.26

+0.04

Omega ratioGain probability vs. loss probability

1.29

1.29

+0.01

Calmar ratioReturn relative to maximum drawdown

2.17

2.64

-0.47

Martin ratioReturn relative to average drawdown

7.39

8.35

-0.96

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBZL.L vs. FVUB.L - Sharpe Ratio Comparison

The current IBZL.L Sharpe Ratio is 1.69, which is comparable to the FVUB.L Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of IBZL.L and FVUB.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IBZL.LFVUB.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.69

1.67

+0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.32

0.28

+0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.31

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.21

-0.00

+0.21

Drawdowns

IBZL.L vs. FVUB.L - Drawdown Comparison

The maximum IBZL.L drawdown since its inception was -69.44%, which is greater than FVUB.L's maximum drawdown of -58.22%. Use the drawdown chart below to compare losses from any high point for IBZL.L and FVUB.L.

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Drawdown Indicators

IBZL.LFVUB.LDifference

Max Drawdown

Largest peak-to-trough decline

-69.44%

-58.22%

-11.22%

Max Drawdown (1Y)

Largest decline over 1 year

-16.58%

-13.83%

-2.75%

Max Drawdown (3Y)

Largest decline over 3 years

-27.68%

-27.50%

-0.18%

Max Drawdown (5Y)

Largest decline over 5 years

-28.21%

-29.42%

+1.21%

Max Drawdown (10Y)

Largest decline over 10 years

-51.77%

—

—

Current Drawdown

Current decline from peak

-16.43%

-13.83%

-2.60%

Average Drawdown

Average peak-to-trough decline

-21.85%

-27.79%

+5.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.87%

4.38%

+0.49%

Volatility

IBZL.L vs. FVUB.L - Volatility Comparison

The current volatility for iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) is 5.42%, while Franklin FTSE Brazil UCITS ETF (FVUB.L) has a volatility of 6.25%. This indicates that IBZL.L experiences smaller price fluctuations and is considered to be less risky than FVUB.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.LFVUB.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.42%

6.25%

-0.83%

Volatility (6M)

Calculated over the trailing 6-month period

17.53%

18.17%

-0.64%

Volatility (1Y)

Calculated over the trailing 1-year period

21.29%

21.79%

-0.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.40%

25.57%

+0.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

31.47%

31.39%

+0.08%

IBZL.L vs. FVUB.L - Expense Ratio Comparison

IBZL.L has a 0.74% expense ratio, which is higher than FVUB.L's 0.19% expense ratio.

Dividends

IBZL.L vs. FVUB.L - Dividend Comparison

IBZL.L's dividend yield for the trailing twelve months is around 5.82%, while FVUB.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
FVUB.L
Franklin FTSE Brazil UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
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

With a correlation of 0.93, IBZL.L and FVUB.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, FVUB.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

FVUB.L is cheaper with a 0.19% expense ratio, compared with 0.74% for IBZL.L.

Both ETFs track MSCI Brazil NR USD. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.74% for IBZL.L and 0.19% for FVUB.L.

Portfolio Optimizer

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