ILF vs. COLO

Last updated Jun 24, 2026

ILF (iShares Latin American 40 ETF) and COLO (Global X MSCI Colombia ETF) are both Latin America Equities funds - ILF tracks the S&P Latin America 40 Index while COLO tracks the MSCI All Colombia Select 25/50 Index. Both are passively managed. Over the past 10 years, ILF returned 8.34%/yr vs 6.73%/yr for COLO. A 0.58 correlation means they provide meaningful diversification when combined. ILF charges 0.48%/yr vs 0.62%/yr for COLO.

Performance

ILF vs. COLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Latin American 40 ETF (ILF) and Global X MSCI Colombia ETF (COLO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ILF achieves a 11.49% return, which is significantly lower than COLO's 22.17% return. Over the past 10 years, ILF has outperformed COLO with an annualized return of 8.34%, while COLO has yielded a comparatively lower 6.73% annualized return.

ILF

• 1D: -1.38%
• 1M: -2.81%
• YTD: 11.49%
• 6M: 10.99%
• 1Y: 38.85%
• 3Y*: 12.99%
• 5Y*: 8.24%
• 10Y*: 8.34%

COLO

• 1D: -1.52%
• 1M: 16.76%
• YTD: 22.17%
• 6M: 20.93%
• 1Y: 60.38%
• 3Y*: 36.54%
• 5Y*: 16.37%
• 10Y*: 6.73%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ILF vs. COLO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ILF iShares Latin American 40 ETF	11.49%	52.65%	-23.11%	33.14%	9.81%	-13.59%	-11.71%	13.77%	-6.85%	26.33%
COLO Global X MSCI Colombia ETF	22.17%	68.88%	4.68%	24.92%	-21.32%	-11.50%	-14.60%	30.42%	-19.88%	11.88%

Correlation

The correlation between ILF and COLO is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Feb 9, 2009	0.58

The correlation between ILF and COLO has been stable across timeframes, ranging from 0.56 to 0.59 - a consistent structural relationship.

ILF vs. COLO - Sectors Allocation Comparison

Sectors	ILF	COLO
Financial Services	33.3%	39.3%
Basic Materials	24.0%	18.5%
Energy	12.0%	17.1%
Consumer Defensive	9.5%	-
Industrials	9.3%	2.5%
Utilities	4.4%	17.5%
Communication Services	4.4%	3.5%
Consumer Cyclical	1.3%	1.6%
Healthcare	1.1%	-
Real Estate	0.8%	-
Technology	-	-

Return for Risk

ILF vs. COLO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ILF

ILF Risk / Return Rank: 52
ILF Sharpe Ratio Rank: 54
ILF Sortino Ratio Rank: 50
ILF Omega Ratio Rank: 49
ILF Calmar Ratio Rank: 59
ILF Martin Ratio Rank: 50

COLO

COLO Risk / Return Rank: 77
COLO Sharpe Ratio Rank: 87
COLO Sortino Ratio Rank: 85
COLO Omega Ratio Rank: 82
COLO Calmar Ratio Rank: 72
COLO Martin Ratio Rank: 57

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.

ILF vs. COLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Latin American 40 ETF (ILF) and Global X MSCI Colombia ETF (COLO). 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.

	ILF	COLO	Difference
Sharpe ratio: Return per unit of total volatility	1.75	2.62	-0.87
Sortino ratio: Return per unit of downside risk	2.36	3.51	-1.15
Omega ratio: Gain probability vs. loss probability	1.30	1.45	-0.15
Calmar ratio: Return relative to maximum drawdown	2.80	3.41	-0.61
Martin ratio: Return relative to average drawdown	8.13	9.23	-1.10

ILF vs. COLO - Sharpe Ratio Comparison

The current ILF Sharpe Ratio is 1.75, which is lower than the COLO Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of ILF and COLO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ILF vs. COLO - Drawdown Comparison

The maximum ILF drawdown since its inception was -67.48%, smaller than the maximum COLO drawdown of -78.91%. Use the drawdown chart below to compare losses from any high point for ILF and COLO.

Drawdown Indicators

	ILF	COLO	Difference
Max Drawdown Largest peak-to-trough decline	-67.48%	-78.91%	+11.43%
Max Drawdown (1Y) Largest decline over 1 year	-13.94%	-17.79%	+3.85%
Max Drawdown (3Y) Largest decline over 3 years	-23.97%	-18.35%	-5.62%
Max Drawdown (5Y) Largest decline over 5 years	-29.71%	-43.86%	+14.15%
Max Drawdown (10Y) Largest decline over 10 years	-57.79%	-62.75%	+4.96%
Current Drawdown Current decline from peak	-10.90%	-17.07%	+6.17%
Average Drawdown Average peak-to-trough decline	-23.91%	-40.25%	+16.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.79%	6.56%	-1.77%

Volatility

ILF vs. COLO - Volatility Comparison

The current volatility for iShares Latin American 40 ETF (ILF) is 6.53%, while Global X MSCI Colombia ETF (COLO) has a volatility of 11.22%. This indicates that ILF experiences smaller price fluctuations and is considered to be less risky than COLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ILF	COLO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.53%	11.22%	-4.69%
Volatility (6M) Calculated over the trailing 6-month period	18.37%	20.34%	-1.97%
Volatility (1Y) Calculated over the trailing 1-year period	22.26%	23.15%	-0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.29%	23.39%	-0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.35%	25.43%	+2.92%

ILF vs. COLO - Expense Ratio Comparison

ILF has a 0.48% expense ratio, which is lower than COLO's 0.62% expense ratio.

Dividends

ILF vs. COLO - Dividend Comparison

ILF's dividend yield for the trailing twelve months is around 3.52%, less than COLO's 6.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COLO Global X MSCI Colombia ETF	6.15%	7.51%	6.08%	6.99%	12.55%	2.32%	3.23%	3.04%	3.03%	1.83%	1.48%	1.58%
ILF iShares Latin American 40 ETF	3.52%	4.39%	7.44%	4.61%	12.72%	8.47%	1.88%	3.09%	3.12%	1.80%	1.59%	3.25%

Frequently Asked Questions

Can I hold both ILF and COLO in my portfolio?

ILF and COLO have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ILF or COLO?

COLO has higher volatility (11.22%) compared to ILF (6.53%). In terms of maximum drawdown, ILF dropped -67.48% vs COLO's -78.91%.

Which ETF is better, ILF or COLO?

On 10-year performance, ILF leads with 8.34% vs 6.73% for COLO. On fees, ILF is cheaper at 0.48% per year. On volatility, ILF has been the lower-risk option at 6.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ILF or COLO?

Over the 10-year period, ILF has performed better with a 8.34% return vs 6.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ILF or COLO?

ILF is cheaper with a 0.48% expense ratio, compared with 0.62% for COLO.

Which ETF pays a higher dividend yield, ILF or COLO?

COLO has the higher dividend yield at 6.15%, compared with 3.52% for ILF.

What is the main difference between ILF and COLO?

ILF tracks S&P Latin America 40 Index, while COLO tracks MSCI All Colombia Select 25/50 Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.48% for ILF and 0.62% for COLO.

Which has better risk-adjusted returns?

COLO currently has the higher Sharpe Ratio (2.62 vs 1.75), 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.