LTAM.L vs. EWY

Last updated Jun 5, 2026

LTAM.L (iShares MSCI EM Latin America UCITS ETF USD (Dist)) and EWY (iShares MSCI South Korea ETF) are both exchange-traded funds - LTAM.L is a Latin America Equities fund tracking the MSCI EM Latin America NR USD, while EWY is a Asia Pacific Equities fund tracking the MSCI Korea Index. Both are passively managed. Over the past 10 years, LTAM.L returned 8.30%/yr vs 15.92%/yr for EWY. At a 0.38 correlation, their price movements are largely independent. LTAM.L charges 0.20%/yr vs 0.59%/yr for EWY.

Performance

LTAM.L vs. EWY - 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.L) and iShares MSCI South Korea ETF (EWY). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

LTAM.L is traded in GBp, while EWY is traded in USD. To make them comparable, the EWY values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, LTAM.L achieves a 10.51% return, which is significantly lower than EWY's 82.01% return. Over the past 10 years, LTAM.L has underperformed EWY with an annualized return of 8.30%, while EWY has yielded a comparatively higher 15.92% annualized return.

LTAM.L

• 1D: -0.69%
• 1M: -6.84%
• YTD: 10.51%
• 6M: 9.60%
• 1Y: 37.15%
• 3Y*: 10.60%
• 5Y*: 9.73%
• 10Y*: 8.30%

EWY

• 1D: -13.57%
• 1M: -1.90%
• YTD: 82.01%
• 6M: 89.83%
• 1Y: 178.85%
• 3Y*: 38.68%
• 5Y*: 17.09%
• 10Y*: 15.92%

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

LTAM.L vs. EWY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LTAM.L iShares MSCI EM Latin America UCITS ETF USD (Dist)	10.51%	43.14%	-25.65%	26.15%	20.89%	-8.55%	-14.15%	9.44%	-0.18%	11.17%
EWY iShares MSCI South Korea ETF	82.01%	81.41%	-19.09%	13.10%	-17.86%	-6.71%	35.34%	3.86%	-15.65%	32.44%

Correlation

The correlation between LTAM.L and EWY is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Oct 16, 2007	0.38

LTAM.L vs. EWY - Sectors Allocation Comparison

Sectors	LTAM.L	EWY
Financial Services	29.9%	9.6%
Basic Materials	21.5%	2.0%
Industrials	10.9%	20.4%
Energy	10.6%	1.4%
Consumer Defensive	10.5%	1.7%
Utilities	7.8%	0.4%
Communication Services	3.9%	2.9%
Consumer Cyclical	1.6%	5.7%
Real Estate	1.6%	-
Healthcare	1.2%	3.5%
Technology	0.7%	52.4%

Return for Risk

LTAM.L vs. EWY — Risk / Return Rank

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

LTAM.L

LTAM.L Risk / Return Rank: 62
LTAM.L Sharpe Ratio Rank: 65
LTAM.L Sortino Ratio Rank: 60
LTAM.L Omega Ratio Rank: 60
LTAM.L Calmar Ratio Rank: 66
LTAM.L Martin Ratio Rank: 58

EWY

EWY Risk / Return Rank: 92
EWY Sharpe Ratio Rank: 96
EWY Sortino Ratio Rank: 86
EWY Omega Ratio Rank: 89
EWY Calmar Ratio Rank: 95
EWY Martin Ratio Rank: 94

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.L vs. EWY - 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.L) and iShares MSCI South Korea ETF (EWY). 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.L	EWY	Difference
Sharpe ratio: Return per unit of total volatility	2.11	4.25	-2.14
Sortino ratio: Return per unit of downside risk	2.81	4.01	-1.20
Omega ratio: Gain probability vs. loss probability	1.36	1.61	-0.24
Calmar ratio: Return relative to maximum drawdown	3.26	8.44	-5.18
Martin ratio: Return relative to average drawdown	10.09	29.05	-18.95
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.L vs. EWY - Sharpe Ratio Comparison

The current LTAM.L Sharpe Ratio is 2.11, which is lower than the EWY Sharpe Ratio of 4.25. The chart below compares the historical Sharpe Ratios of LTAM.L and EWY, 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.L	EWY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	4.25	-2.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.63	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.61	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.32	-0.19

Drawdowns

LTAM.L vs. EWY - Drawdown Comparison

The maximum LTAM.L drawdown since its inception was -58.47%, smaller than the maximum EWY drawdown of -63.46%. Use the drawdown chart below to compare losses from any high point for LTAM.L and EWY.

Drawdown Indicators

	LTAM.L	EWY	Difference
Max Drawdown Largest peak-to-trough decline	-58.47%	-63.46%	+4.99%
Max Drawdown (1Y) Largest decline over 1 year	-11.46%	-21.34%	+9.88%
Max Drawdown (3Y) Largest decline over 3 years	-26.09%	-27.13%	+1.04%
Max Drawdown (5Y) Largest decline over 5 years	-26.09%	-38.59%	+12.50%
Max Drawdown (10Y) Largest decline over 10 years	-48.10%	-41.37%	-6.73%
Current Drawdown Current decline from peak	-11.46%	-18.44%	+6.98%
Average Drawdown Average peak-to-trough decline	-20.19%	-15.92%	-4.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.71%	6.18%	-2.47%

Volatility

LTAM.L vs. EWY - Volatility Comparison

The current volatility for iShares MSCI EM Latin America UCITS ETF USD (Dist) (LTAM.L) is 5.20%, while iShares MSCI South Korea ETF (EWY) has a volatility of 24.63%. This indicates that LTAM.L experiences smaller price fluctuations and is considered to be less risky than EWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LTAM.L	EWY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.20%	24.63%	-19.43%
Volatility (6M) Calculated over the trailing 6-month period	14.96%	38.80%	-23.84%
Volatility (1Y) Calculated over the trailing 1-year period	17.70%	42.42%	-24.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.43%	27.11%	-6.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.90%	26.20%	-1.30%

LTAM.L vs. EWY - Expense Ratio Comparison

LTAM.L has a 0.20% expense ratio, which is lower than EWY's 0.59% expense ratio.

Dividends

LTAM.L vs. EWY - Dividend Comparison

LTAM.L's dividend yield for the trailing twelve months is around 3.54%, more than EWY's 1.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWY iShares MSCI South Korea ETF	1.16%	2.10%	2.55%	2.52%	1.23%	2.16%	0.73%	2.10%	1.34%	2.90%	1.21%	2.42%
LTAM.L iShares MSCI EM Latin America UCITS ETF USD (Dist)	3.54%	3.61%	5.69%	4.33%	6.86%	3.17%	1.82%	2.38%	2.11%	1.52%	1.32%	2.89%

Frequently Asked Questions

Can I hold both LTAM.L and EWY in my portfolio?

LTAM.L and EWY have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LTAM.L or EWY?

On fees, LTAM.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LTAM.L or EWY?

LTAM.L is cheaper with a 0.20% expense ratio, compared with 0.59% for EWY.

What is the main difference between LTAM.L and EWY?

LTAM.L is categorized as Latin America Equities, while EWY is Asia Pacific Equities. LTAM.L tracks MSCI EM Latin America NR USD, while EWY tracks MSCI Korea Index. Their fees differ too: 0.20% for LTAM.L and 0.59% for EWY.