MNRO vs. ENZL

Last updated Jun 4, 2026

MNRO (Monro, Inc.) is a stock, while ENZL (iShares MSCI New Zealand ETF) is Asia Pacific Equities fund tracking the MSCI New Zealand Investable Market Index. Over the past 10 years, MNRO returned -10.46%/yr vs 3.34%/yr for ENZL. At a 0.25 correlation, their price movements are largely independent.

Performance

MNRO vs. ENZL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Monro, Inc. (MNRO) and iShares MSCI New Zealand ETF (ENZL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MNRO achieves a -19.91% return, which is significantly lower than ENZL's -0.60% return. Over the past 10 years, MNRO has underperformed ENZL with an annualized return of -10.46%, while ENZL has yielded a comparatively higher 3.34% annualized return.

MNRO

• 1D: -1.27%
• 1M: -2.98%
• YTD: -19.91%
• 6M: -15.52%
• 1Y: 2.53%
• 3Y*: -24.67%
• 5Y*: -21.08%
• 10Y*: -10.46%

ENZL

• 1D: -1.64%
• 1M: 0.88%
• YTD: -0.60%
• 6M: -1.29%
• 1Y: 3.15%
• 3Y*: -0.29%
• 5Y*: -4.24%
• 10Y*: 3.34%

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

MNRO vs. ENZL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MNRO Monro, Inc.	-19.91%	-13.81%	-11.99%	-33.10%	-20.59%	11.13%	-30.65%	15.00%	22.21%	0.97%
ENZL iShares MSCI New Zealand ETF	-0.60%	2.47%	-4.86%	2.95%	-16.18%	-11.39%	20.04%	30.09%	0.35%	24.04%

Correlation

The correlation between MNRO and ENZL is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Sep 3, 2010	0.25

Return for Risk

MNRO vs. ENZL — Risk / Return Rank

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

MNRO

MNRO Risk / Return Rank: 42
MNRO Sharpe Ratio Rank: 43
MNRO Sortino Ratio Rank: 41
MNRO Omega Ratio Rank: 41
MNRO Calmar Ratio Rank: 42
MNRO Martin Ratio Rank: 42

ENZL

ENZL Risk / Return Rank: 11
ENZL Sharpe Ratio Rank: 11
ENZL Sortino Ratio Rank: 11
ENZL Omega Ratio Rank: 11
ENZL Calmar Ratio Rank: 12
ENZL Martin Ratio Rank: 12

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.

MNRO vs. ENZL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monro, Inc. (MNRO) and iShares MSCI New Zealand ETF (ENZL). 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.

	MNRO	ENZL	Difference
Sharpe ratio Return per unit of total volatility	0.04	0.20	-0.15
Sortino ratio Return per unit of downside risk	0.47	0.39	+0.07
Omega ratio Gain probability vs. loss probability	1.06	1.05	+0.01
Calmar ratio Return relative to maximum drawdown	0.07	0.25	-0.17
Martin ratio Return relative to average drawdown	0.15	0.70	-0.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MNRO vs. ENZL - Sharpe Ratio Comparison

The current MNRO Sharpe Ratio is 0.04, which is lower than the ENZL Sharpe Ratio of 0.20. The chart below compares the historical Sharpe Ratios of MNRO and ENZL, 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

	MNRO	ENZL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.04	0.20	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.47	-0.23	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.25	0.16	-0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.37	-0.26

Drawdowns

MNRO vs. ENZL - Drawdown Comparison

The maximum MNRO drawdown since its inception was -84.13%, which is greater than ENZL's maximum drawdown of -42.44%. Use the drawdown chart below to compare losses from any high point for MNRO and ENZL.

Drawdown Indicators

	MNRO	ENZL	Difference
Max Drawdown Largest peak-to-trough decline	-84.13%	-42.44%	-41.69%
Max Drawdown (1Y) Largest decline over 1 year	-36.17%	-12.90%	-23.27%
Max Drawdown (3Y) Largest decline over 3 years	-70.01%	-20.67%	-49.34%
Max Drawdown (5Y) Largest decline over 5 years	-78.69%	-36.86%	-41.83%
Max Drawdown (10Y) Largest decline over 10 years	-84.13%	-42.44%	-41.69%
Current Drawdown Current decline from peak	-78.10%	-29.65%	-48.45%
Average Drawdown Average peak-to-trough decline	-26.19%	-12.78%	-13.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.71%	4.54%	+12.17%

Volatility

MNRO vs. ENZL - Volatility Comparison

Monro, Inc. (MNRO) has a higher volatility of 14.27% compared to iShares MSCI New Zealand ETF (ENZL) at 6.01%. This indicates that MNRO's price experiences larger fluctuations and is considered to be riskier than ENZL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MNRO	ENZL	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.27%	6.01%	+8.26%
Volatility (6M) Calculated over the trailing 6-month period	32.74%	13.02%	+19.72%
Volatility (1Y) Calculated over the trailing 1-year period	56.86%	15.97%	+40.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.16%	18.59%	+26.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.05%	20.44%	+21.61%

Dividends

MNRO vs. ENZL - Dividend Comparison

MNRO's dividend yield for the trailing twelve months is around 7.19%, more than ENZL's 2.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENZL iShares MSCI New Zealand ETF	2.25%	2.23%	2.13%	3.00%	1.62%	2.46%	1.66%	3.35%	3.60%	3.69%	4.79%	4.29%
MNRO Monro, Inc.	7.19%	5.59%	4.52%	3.82%	2.43%	1.68%	1.65%	1.10%	1.13%	1.25%	1.15%	0.88%

Frequently Asked Questions

Can I hold both MNRO and ENZL in my portfolio?

MNRO and ENZL have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MNRO or ENZL?

MNRO has higher volatility (14.27%) compared to ENZL (6.01%). In terms of maximum drawdown, MNRO dropped -84.13% vs ENZL's -42.44%.

Which has better risk-adjusted returns?

ENZL currently has the higher Sharpe Ratio (0.20 vs 0.04), 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.