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ILF vs. COLO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ILF vs. COLO

Last updated Aug 2, 2026
Documentation

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 (Net) while COLO tracks the MSCI All Colombia Select 25/50 Index. Both are passively managed. Over the past 10 years, ILF returned 7.78%/yr vs 8.02%/yr for COLO. Their 0.58 correlation means they have sometimes moved together and sometimes differently. ILF charges 0.47%/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.

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Returns By Period

In the year-to-date period, ILF achieves a 17.64% return, which is significantly lower than COLO's 30.91% return. Both investments have delivered pretty close results over the past 10 years, with ILF having a 7.78% annualized return and COLO not far ahead at 8.02%.

ILF

1D
-0.03%
1M
4.99%
6M
1.31%
YTD
17.64%
1Y
48.11%
3Y*
14.00%
5Y*
11.24%
10Y*
7.78%
ALL TIME*
9.53%

COLO

1D
0.87%
1M
10.09%
6M
11.19%
YTD
30.91%
1Y
67.52%
3Y*
35.62%
5Y*
19.50%
10Y*
8.02%
ALL TIME*
6.09%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

COLO

Global X MSCI Colombia ETF
$5.73M$6.13M$8.93M

ILF

iShares Latin American 40 ETF
$79.35M$71.98M$85.23M

ILF vs. COLO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ILF
iShares Latin American 40 ETF		17.64%52.65%-23.11%33.14%9.81%-13.59%-11.71%13.77%-6.85%26.33%
COLO
Global X MSCI Colombia ETF		30.91%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 have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.59

Correlation (3Y)
Balances recent behavior with more history.

0.58

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.56

Correlation (10Y)
Provides a long-term view across more market conditions.

0.56

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

34.5%
40.5%

Basic Materials

22.0%
18.4%

Energy

10.6%
15.2%

Consumer Defensive

9.6%

-

Industrials

9.6%
2.0%

Communication Services

6.0%
2.5%

Utilities

4.7%
19.6%

Consumer Cyclical

1.3%
1.7%

Healthcare

1.1%

-

Real Estate

0.8%

-

Technology

-

-

Financial Services

ILF
34.5%
COLO
40.5%

Basic Materials

ILF
22.0%
COLO
18.4%

Energy

ILF
10.6%
COLO
15.2%

Consumer Defensive

ILF
9.6%
COLO

-

Industrials

ILF
9.6%
COLO
2.0%

Communication Services

ILF
6.0%
COLO
2.5%

Utilities

ILF
4.7%
COLO
19.6%

Consumer Cyclical

ILF
1.3%
COLO
1.7%

Healthcare

ILF
1.1%
COLO

-

Real Estate

ILF
0.8%
COLO

-

Technology

ILF

-

COLO

-

Compare stocks, funds, or ETFs

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

iShares Latin American 40 ETF

Global X MSCI Colombia ETF

Often compared with ILF:
ILF vs. EWZILF vs. FLLAILF vs. EWWILF vs. FLNILF vs. FLBRILF vs. EPUILF vs. VOO
Often compared with COLO:
COLO vs. GVALCOLO vs. EWZCOLO vs. ECHCOLO vs. EPUCOLO vs. VOOCOLO vs. HAPCOLO vs. OTGL

Return for Risk

ILF vs. COLO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
ILF
ILF Risk / Return Rank: 8383
Overall Rank
ILF Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
ILF Sortino Ratio Rank: 8484
Sortino Ratio Rank
ILF Omega Ratio Rank: 8484
Omega Ratio Rank
ILF Calmar Ratio Rank: 8787
Calmar Ratio Rank
ILF Martin Ratio Rank: 7272
Martin Ratio Rank
COLO
COLO Risk / Return Rank: 9191
Overall Rank
COLO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
COLO Sortino Ratio Rank: 9494
Sortino Ratio Rank
COLO Omega Ratio Rank: 9494
Omega Ratio Rank
COLO Calmar Ratio Rank: 9090
Calmar Ratio Rank
COLO Martin Ratio Rank: 8080
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

ILFCOLODifference
Sharpe ratioReturn per unit of total volatility
2.13
2.95

-0.82

Sortino ratioReturn per unit of downside risk
2.78
3.84

-1.07

Omega ratioGain probability vs. loss probability

1.36

1.50

-0.14

Calmar ratioReturn relative to maximum drawdown

3.42

3.87

-0.44

Martin ratioReturn relative to average drawdown

8.81

10.38

-1.57

ILF vs. COLO - Sharpe Ratio Comparison

The current ILF Sharpe Ratio is 2.13, which is comparable to the COLO Sharpe Ratio of 2.95. 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.

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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.

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Drawdown Indicators

ILFCOLODifference

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

-5.98%

-11.13%

+5.15%

Average Drawdown

Average peak-to-trough decline

-23.84%

-40.10%

+16.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.40%

6.61%

-1.21%

Volatility

ILF vs. COLO - Volatility Comparison

iShares Latin American 40 ETF (ILF) has a higher volatility of 6.14% compared to Global X MSCI Colombia ETF (COLO) at 5.10%. This indicates that ILF's price experiences larger fluctuations and is considered to be riskier than COLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ILFCOLODifference

Volatility (1M)

Calculated over the trailing 1-month period

6.14%

5.10%

+1.04%

Volatility (6M)

Calculated over the trailing 6-month period

18.40%

19.64%

-1.24%

Volatility (1Y)

Calculated over the trailing 1-year period

22.44%

23.36%

-0.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.10%

23.30%

-0.20%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

28.26%

25.36%

+2.90%

ILF vs. COLO - Expense Ratio Comparison

ILF has a 0.47% 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 3.34%, less than COLO's 4.29% yield.

PositionTTM20252024202320222021202020192018201720162015
COLO
Global X MSCI Colombia ETF		4.29%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		3.34%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

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.

ILF has higher volatility (6.14%) compared to COLO (5.10%). In terms of maximum drawdown, ILF dropped -67.48% vs COLO's -78.91%.

On 10-year performance, COLO leads with 8.02% vs 7.78% for ILF. On fees, ILF is cheaper at 0.47% per year. On volatility, COLO has been the lower-risk option at 5.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, COLO has performed better with a 8.02% return vs 7.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ILF is cheaper with a 0.47% expense ratio, compared with 0.62% for COLO.

COLO has the higher dividend yield at 4.29%, compared with 3.34% for ILF.

ILF tracks S&P Latin America 40 (Net), while COLO tracks MSCI All Colombia Select 25/50 Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.47% for ILF and 0.62% for COLO.

COLO currently has the higher Sharpe Ratio (2.95 vs 2.13), 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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