IBZL.L vs. JRZE.L
IBZL.L (iShares MSCI Brazil UCITS ETF (Dist)) and JRZE.L (JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc)) are both exchange-traded funds - IBZL.L is a Latin America Equities fund tracking the MSCI Brazil NR USD, while JRZE.L is a Europe Equities fund tracking the MSCI EMU NR EUR. Both are passively managed. Over the past 3 years, IBZL.L returned 6.71%/yr vs 15.34%/yr for JRZE.L. At a 0.37 correlation, their price movements are largely independent. IBZL.L charges 0.74%/yr vs 0.25%/yr for JRZE.L.
Performance
IBZL.L vs. JRZE.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBZL.L achieves a 11.37% return, which is significantly higher than JRZE.L's 7.69% return.
IBZL.L
- 1D
- 4.32%
- 1M
- -6.39%
- YTD
- 11.37%
- 6M
- 10.30%
- 1Y
- 33.52%
- 3Y*
- 6.71%
- 5Y*
- 6.72%
- 10Y*
- 8.53%
JRZE.L
- 1D
- 0.00%
- 1M
- 3.60%
- YTD
- 7.69%
- 6M
- 8.43%
- 1Y
- 19.97%
- 3Y*
- 15.34%
- 5Y*
- —
- 10Y*
- —
IBZL.L vs. JRZE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBZL.L iShares MSCI Brazil UCITS ETF (Dist) | 11.37% | 35.97% | -27.18% | 23.72% | -1.32% |
JRZE.L JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc) | 7.69% | 29.94% | 3.35% | 17.82% | -10.00% |
Correlation
The correlation between IBZL.L and JRZE.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2022 | 0.37 |
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Return for Risk
IBZL.L vs. JRZE.L — Risk / Return Rank
IBZL.L
JRZE.L
IBZL.L vs. JRZE.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 JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc) (JRZE.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IBZL.L | JRZE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.25 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 1.81 | -0.05 |
| Martin ratioReturn relative to average drawdown | 5.94 | 6.42 | -0.48 |
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Drawdowns
IBZL.L vs. JRZE.L - Drawdown Comparison
The maximum IBZL.L drawdown since its inception was -71.99%, which is greater than JRZE.L's maximum drawdown of -24.05%. Use the drawdown chart below to compare losses from any high point for IBZL.L and JRZE.L.
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Drawdown Indicators
| IBZL.L | JRZE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.99% | -24.05% | -47.94% |
Max Drawdown (1Y)Largest decline over 1 year | -18.97% | -11.09% | -7.88% |
Max Drawdown (3Y)Largest decline over 3 years | -28.80% | -12.74% | -16.06% |
Max Drawdown (5Y)Largest decline over 5 years | -28.80% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -52.07% | — | — |
Current DrawdownCurrent decline from peak | -14.98% | -0.46% | -14.52% |
Average DrawdownAverage peak-to-trough decline | -27.70% | -5.29% | -22.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.63% | 3.12% | +2.51% |
Volatility
IBZL.L vs. JRZE.L - Volatility Comparison
iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) has a higher volatility of 6.95% compared to JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc) (JRZE.L) at 3.41%. This indicates that IBZL.L's price experiences larger fluctuations and is considered to be riskier than JRZE.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 | JRZE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.95% | 3.41% | +3.54% |
Volatility (6M)Calculated over the trailing 6-month period | 17.60% | 11.84% | +5.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.76% | 14.54% | +7.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.42% | 17.48% | +8.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.47% | 17.48% | +13.99% |
IBZL.L vs. JRZE.L - Expense Ratio Comparison
IBZL.L has a 0.74% expense ratio, which is higher than JRZE.L's 0.25% expense ratio.
Dividends
IBZL.L vs. JRZE.L - Dividend Comparison
IBZL.L's dividend yield for the trailing twelve months is around 3.26%, while JRZE.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBZL.L iShares MSCI Brazil UCITS ETF (Dist) | 3.26% | 4.32% | 6.46% | 5.44% | 13.60% | 6.32% | 1.92% | 2.53% | 2.45% | 1.46% | 1.64% | 3.54% |
JRZE.L JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBZL.L and JRZE.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JRZE.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JRZE.L is cheaper with a 0.25% expense ratio, compared with 0.74% for IBZL.L.
IBZL.L is categorized as Latin America Equities, while JRZE.L is Europe Equities. IBZL.L tracks MSCI Brazil NR USD, while JRZE.L tracks MSCI EMU NR EUR. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.74% for IBZL.L and 0.25% for JRZE.L.
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