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IGV vs. MELI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IGV vs. MELI

Last updated Jun 9, 2026

IGV (iShares Expanded Tech-Software Sector ETF) is Technology Equities fund tracking the S&P North American Expanded Technology Software Index, while MELI (MercadoLibre, Inc.) is a stock. Over the past 10 years, IGV returned 16.44%/yr vs 28.28%/yr for MELI. A 0.57 correlation means they provide meaningful diversification when combined.

Performance

IGV vs. MELI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Expanded Tech-Software Sector ETF (IGV) and MercadoLibre, Inc. (MELI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IGV achieves a -9.50% return, which is significantly higher than MELI's -19.97% return. Over the past 10 years, IGV has underperformed MELI with an annualized return of 16.44%, while MELI has yielded a comparatively higher 28.28% annualized return.

IGV

1D
-0.21%
1M
4.94%
YTD
-9.50%
6M
-12.57%
1Y
-9.75%
3Y*
13.14%
5Y*
5.60%
10Y*
16.44%

MELI

1D
0.26%
1M
-1.26%
YTD
-19.97%
6M
-22.81%
1Y
-35.06%
3Y*
10.08%
5Y*
4.13%
10Y*
28.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IGV vs. MELI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IGV
iShares Expanded Tech-Software Sector ETF		-9.50%5.56%23.41%58.56%-35.65%12.30%52.86%34.33%12.44%42.16%
MELI
MercadoLibre, Inc.		-19.97%18.46%8.20%85.71%-37.24%-19.51%192.90%95.30%-6.93%101.99%

Correlation

The correlation between IGV and MELI is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.37

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

0.45

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

0.58

Correlation (10Y)
Calculated over the trailing 10-year period

0.58

Correlation (All Time)
Calculated using the full available price history since Aug 13, 2007

0.57

The correlation between IGV and MELI shifts across timeframes, from 0.37 (1 year) to 0.58 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

iShares Expanded Tech-Software Sector ETF

MercadoLibre, Inc.

Often compared with IGV:
IGV vs. QQQIGV vs. XSWIGV vs. SOXXIGV vs. VGTIGV vs. XLKIGV vs. SMHXIGV vs. VOO
Often compared with MELI:
MELI vs. AMZNMELI vs. CPNGMELI vs. VOOMELI vs. DISMELI vs. QQQMELI vs. PDDMELI vs. LLY

Return for Risk

IGV vs. MELI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IGV
IGV Risk / Return Rank: 77
Overall Rank
IGV Sharpe Ratio Rank: 66
Sharpe Ratio Rank
IGV Sortino Ratio Rank: 66
Sortino Ratio Rank
IGV Omega Ratio Rank: 66
Omega Ratio Rank
IGV Calmar Ratio Rank: 77
Calmar Ratio Rank
IGV Martin Ratio Rank: 77
Martin Ratio Rank
MELI
MELI Risk / Return Rank: 88
Overall Rank
MELI Sharpe Ratio Rank: 77
Sharpe Ratio Rank
MELI Sortino Ratio Rank: 1010
Sortino Ratio Rank
MELI Omega Ratio Rank: 99
Omega Ratio Rank
MELI Calmar Ratio Rank: 88
Calmar Ratio Rank
MELI Martin Ratio Rank: 55
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.

IGV vs. MELI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Expanded Tech-Software Sector ETF (IGV) and MercadoLibre, Inc. (MELI). 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.

IGVMELIDifference
Sharpe ratioReturn per unit of total volatility
-0.35
-0.89

+0.54

Sortino ratioReturn per unit of downside risk
-0.31
-1.14

+0.83

Omega ratioGain probability vs. loss probability

0.96

0.85

+0.11

Calmar ratioReturn relative to maximum drawdown

-0.27

-0.86

+0.59

Martin ratioReturn relative to average drawdown

-0.56

-1.54

+0.98

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

IGV vs. MELI - Sharpe Ratio Comparison

The current IGV Sharpe Ratio is -0.35, which is higher than the MELI Sharpe Ratio of -0.89. The chart below compares the historical Sharpe Ratios of IGV and MELI, 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

IGVMELIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.35

-0.89

+0.54

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.20

0.08

+0.12

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

0.58

+0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.36

0.44

-0.09

Drawdowns

IGV vs. MELI - Drawdown Comparison

The maximum IGV drawdown since its inception was -63.45%, smaller than the maximum MELI drawdown of -89.49%. Use the drawdown chart below to compare losses from any high point for IGV and MELI.

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Drawdown Indicators

IGVMELIDifference

Max Drawdown

Largest peak-to-trough decline

-63.45%

-89.49%

+26.04%

Max Drawdown (1Y)

Largest decline over 1 year

-36.61%

-40.82%

+4.21%

Max Drawdown (3Y)

Largest decline over 3 years

-36.61%

-40.82%

+4.21%

Max Drawdown (5Y)

Largest decline over 5 years

-45.85%

-68.64%

+22.79%

Max Drawdown (10Y)

Largest decline over 10 years

-45.85%

-69.12%

+23.27%

Current Drawdown

Current decline from peak

-18.80%

-38.32%

+19.52%

Average Drawdown

Average peak-to-trough decline

-14.45%

-23.58%

+9.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

17.33%

22.74%

-5.41%

Volatility

IGV vs. MELI - Volatility Comparison

The current volatility for iShares Expanded Tech-Software Sector ETF (IGV) is 12.20%, while MercadoLibre, Inc. (MELI) has a volatility of 17.04%. This indicates that IGV experiences smaller price fluctuations and is considered to be less risky than MELI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IGVMELIDifference

Volatility (1M)

Calculated over the trailing 1-month period

12.20%

17.04%

-4.84%

Volatility (6M)

Calculated over the trailing 6-month period

24.65%

30.13%

-5.48%

Volatility (1Y)

Calculated over the trailing 1-year period

27.93%

39.42%

-11.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.90%

49.68%

-21.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.38%

48.89%

-22.51%

Dividends

IGV vs. MELI - Dividend Comparison

Neither IGV nor MELI has paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
IGV
iShares Expanded Tech-Software Sector ETF		0.00%0.00%0.00%0.01%0.01%0.00%0.35%0.02%0.16%0.09%0.82%0.22%
MELI
MercadoLibre, Inc.		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.19%0.38%0.36%

Frequently Asked Questions

IGV and MELI have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MELI has higher volatility (17.04%) compared to IGV (12.20%). In terms of maximum drawdown, IGV dropped -63.45% vs MELI's -89.49%.

IGV currently has the higher Sharpe Ratio (-0.35 vs -0.89), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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