LTAM.AS vs. TMO

Last updated Jun 5, 2026

LTAM.AS (iShares MSCI EM Latin America UCITS ETF USD (Dist)) is Latin America Equities fund tracking the MSCI EM Latin America NR USD, while TMO (Thermo Fisher Scientific Inc.) is a stock. Over the past 10 years, LTAM.AS returned 6.95%/yr vs 12.22%/yr for TMO. At a 0.23 correlation, their price movements are largely independent.

Performance

LTAM.AS vs. TMO - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares MSCI EM Latin America UCITS ETF USD (Dist) (LTAM.AS) and Thermo Fisher Scientific Inc. (TMO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

LTAM.AS is traded in EUR, while TMO is traded in USD. To make them comparable, the TMO values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, LTAM.AS achieves a 11.12% return, which is significantly higher than TMO's -15.78% return. Over the past 10 years, LTAM.AS has underperformed TMO with an annualized return of 6.95%, while TMO has yielded a comparatively higher 12.22% annualized return.

LTAM.AS

• 1D: -0.60%
• 1M: -7.19%
• YTD: 11.12%
• 6M: 8.42%
• 1Y: 33.48%
• 3Y*: 9.99%
• 5Y*: 9.23%
• 10Y*: 6.95%

TMO

• 1D: 1.56%
• 1M: 3.96%
• YTD: -15.78%
• 6M: -15.83%
• 1Y: 17.84%
• 3Y*: -4.71%
• 5Y*: 2.66%
• 10Y*: 12.22%

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

LTAM.AS vs. TMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LTAM.AS iShares MSCI EM Latin America UCITS ETF USD (Dist)	11.12%	36.08%	-22.43%	28.47%	14.01%	-3.03%	-18.51%	14.74%	-1.57%	7.45%
TMO Thermo Fisher Scientific Inc.	-15.78%	-1.49%	4.76%	-6.25%	-12.16%	54.28%	31.87%	48.84%	23.76%	18.43%

Correlation

The correlation between LTAM.AS and TMO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since Feb 6, 2008	0.23

The correlation between LTAM.AS and TMO shifts across timeframes, from 0.08 (3 years) to 0.23 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LTAM.AS vs. TMO — Risk / Return Rank

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

LTAM.AS

LTAM.AS Risk / Return Rank: 56
LTAM.AS Sharpe Ratio Rank: 56
LTAM.AS Sortino Ratio Rank: 55
LTAM.AS Omega Ratio Rank: 52
LTAM.AS Calmar Ratio Rank: 61
LTAM.AS Martin Ratio Rank: 55

TMO

TMO Risk / Return Rank: 58
TMO Sharpe Ratio Rank: 63
TMO Sortino Ratio Rank: 58
TMO Omega Ratio Rank: 56
TMO Calmar Ratio Rank: 56
TMO Martin Ratio Rank: 56

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.

LTAM.AS vs. TMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM Latin America UCITS ETF USD (Dist) (LTAM.AS) and Thermo Fisher Scientific Inc. (TMO). 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.

	LTAM.AS	TMO	Difference
Sharpe ratio: Return per unit of total volatility	1.87	0.59	+1.28
Sortino ratio: Return per unit of downside risk	2.60	1.08	+1.52
Omega ratio: Gain probability vs. loss probability	1.32	1.13	+0.19
Calmar ratio: Return relative to maximum drawdown	3.00	0.58	+2.42
Martin ratio: Return relative to average drawdown	9.22	1.30	+7.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LTAM.AS vs. TMO - Sharpe Ratio Comparison

The current LTAM.AS Sharpe Ratio is 1.87, which is higher than the TMO Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of LTAM.AS and TMO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LTAM.AS	TMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	0.59	+1.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.10	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	0.46	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.51	-0.44

Drawdowns

LTAM.AS vs. TMO - Drawdown Comparison

The maximum LTAM.AS drawdown since its inception was -60.23%, which is greater than TMO's maximum drawdown of -49.01%. Use the drawdown chart below to compare losses from any high point for LTAM.AS and TMO.

Drawdown Indicators

	LTAM.AS	TMO	Difference
Max Drawdown Largest peak-to-trough decline	-60.23%	-49.01%	-11.22%
Max Drawdown (1Y) Largest decline over 1 year	-11.01%	-30.70%	+19.69%
Max Drawdown (3Y) Largest decline over 3 years	-25.56%	-41.67%	+16.11%
Max Drawdown (5Y) Largest decline over 5 years	-25.56%	-42.37%	+16.81%
Max Drawdown (10Y) Largest decline over 10 years	-49.89%	-42.37%	-7.52%
Current Drawdown Current decline from peak	-11.01%	-29.44%	+18.43%
Average Drawdown Average peak-to-trough decline	-26.14%	-10.28%	-15.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	13.71%	-10.11%

Volatility

LTAM.AS vs. TMO - Volatility Comparison

The current volatility for iShares MSCI EM Latin America UCITS ETF USD (Dist) (LTAM.AS) is 5.16%, while Thermo Fisher Scientific Inc. (TMO) has a volatility of 9.66%. This indicates that LTAM.AS experiences smaller price fluctuations and is considered to be less risky than TMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LTAM.AS	TMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.16%	9.66%	-4.50%
Volatility (6M) Calculated over the trailing 6-month period	14.94%	20.68%	-5.74%
Volatility (1Y) Calculated over the trailing 1-year period	17.63%	30.17%	-12.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.78%	26.78%	-6.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.09%	26.38%	-1.29%

Dividends

LTAM.AS vs. TMO - Dividend Comparison

LTAM.AS's dividend yield for the trailing twelve months is around 3.02%, more than TMO's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LTAM.AS iShares MSCI EM Latin America UCITS ETF USD (Dist)	3.02%	3.21%	5.22%	3.99%	6.79%	2.66%	1.65%	2.11%	1.84%	1.41%	1.23%	2.69%
TMO Thermo Fisher Scientific Inc.	0.37%	0.30%	0.30%	0.26%	0.22%	0.16%	0.19%	0.23%	0.30%	0.32%	0.43%	0.42%

Frequently Asked Questions

Can I hold both LTAM.AS and TMO in my portfolio?

LTAM.AS and TMO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.