OTGL vs. EWW

Last updated Aug 4, 2026

OTGL (OTG Latin America ETF) and EWW (iShares MSCI Mexico ETF) are both Latin America Equities funds - OTGL tracks the Actively Managed while EWW tracks the MSCI Mexico IMI 25/50 Index. Both are passively managed. Over the past year, OTGL returned 25.96% vs 32.83% for EWW. Their 0.71 correlation means they have sometimes moved together and sometimes differently. OTGL charges 0.95%/yr vs 0.50%/yr for EWW.

Performance

OTGL vs. EWW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in OTG Latin America ETF (OTGL) and iShares MSCI Mexico ETF (EWW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OTGL achieves a 9.47% return, which is significantly lower than EWW's 12.04% return.

OTGL

• 1D: -0.31%
• 1M: 3.58%
• 6M: -2.10%
• YTD: 9.47%
• 1Y: 25.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.01%

EWW

• 1D: -0.34%
• 1M: 1.39%
• 6M: 2.98%
• YTD: 12.04%
• 1Y: 32.83%
• 3Y*: 10.69%
• 5Y*: 12.92%
• 10Y*: 7.05%
• ALL TIME*: 8.92%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EWW iShares MSCI Mexico ETF	$81.87M	$77.20M	$92.45M
OTGL OTG Latin America ETF	$6.34K	$5.67K	$23.88K

OTGL vs. EWW - Yearly Performance Comparison

	2026 (YTD)	2025
OTGL OTG Latin America ETF	9.47%	13.64%
EWW iShares MSCI Mexico ETF	12.04%	17.51%

Correlation

The correlation between OTGL and EWW is 0.71, 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.	0.71
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025	0.71

The correlation between OTGL and EWW has been stable across timeframes, ranging from 0.71 to 0.71 - a consistent structural relationship.

Return for Risk

OTGL vs. EWW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OTGL

OTGL Risk / Return Rank: 49
OTGL Sharpe Ratio Rank: 51
OTGL Sortino Ratio Rank: 50
OTGL Omega Ratio Rank: 50
OTGL Calmar Ratio Rank: 50
OTGL Martin Ratio Rank: 42

EWW

EWW Risk / Return Rank: 62
EWW Sharpe Ratio Rank: 62
EWW Sortino Ratio Rank: 61
EWW Omega Ratio Rank: 59
EWW Calmar Ratio Rank: 66
EWW Martin Ratio Rank: 62

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.

OTGL vs. EWW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for OTG Latin America ETF (OTGL) and iShares MSCI Mexico ETF (EWW). 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.

	OTGL	EWW	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.50	-0.12
Sortino ratio: Return per unit of downside risk	1.95	2.12	-0.17
Omega ratio: Gain probability vs. loss probability	1.25	1.26	-0.02
Calmar ratio: Return relative to maximum drawdown	1.93	2.36	-0.43
Martin ratio: Return relative to average drawdown	4.95	7.62	-2.68

OTGL vs. EWW - Sharpe Ratio Comparison

The current OTGL Sharpe Ratio is 1.38, which is comparable to the EWW Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of OTGL and EWW, 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

OTGL vs. EWW - Drawdown Comparison

The maximum OTGL drawdown since its inception was -13.52%, smaller than the maximum EWW drawdown of -64.94%. Use the drawdown chart below to compare losses from any high point for OTGL and EWW.

Drawdown Indicators

	OTGL	EWW	Difference
Max Drawdown Largest peak-to-trough decline	-13.52%	-64.94%	+51.42%
Max Drawdown (1Y) Largest decline over 1 year	-13.52%	-13.98%	+0.46%
Max Drawdown (3Y) Largest decline over 3 years	—	-31.17%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-31.17%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-53.62%	—
Current Drawdown Current decline from peak	-5.66%	-4.37%	-1.29%
Average Drawdown Average peak-to-trough decline	-3.78%	-18.45%	+14.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.26%	4.32%	+0.94%

Volatility

OTGL vs. EWW - Volatility Comparison

The current volatility for OTG Latin America ETF (OTGL) is 4.52%, while iShares MSCI Mexico ETF (EWW) has a volatility of 5.26%. This indicates that OTGL experiences smaller price fluctuations and is considered to be less risky than EWW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OTGL	EWW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	5.26%	-0.74%
Volatility (6M) Calculated over the trailing 6-month period	15.08%	18.05%	-2.97%
Volatility (1Y) Calculated over the trailing 1-year period	18.98%	22.07%	-3.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.74%	22.57%	-3.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.74%	25.25%	-6.51%

OTGL vs. EWW - Expense Ratio Comparison

OTGL has a 0.95% expense ratio, which is higher than EWW's 0.50% expense ratio.

Dividends

OTGL vs. EWW - Dividend Comparison

OTGL's dividend yield for the trailing twelve months is around 2.72%, less than EWW's 3.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EWW iShares MSCI Mexico ETF	3.22%	3.48%	4.39%	2.19%	3.64%	2.06%	1.43%	2.92%	2.30%	2.22%	1.77%	2.34%
OTGL OTG Latin America ETF	2.72%	1.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OTGL and EWW in my portfolio?

OTGL and EWW have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OTGL or EWW?

EWW has higher volatility (5.26%) compared to OTGL (4.52%). In terms of maximum drawdown, OTGL dropped -13.52% vs EWW's -64.94%.

Which ETF is better, OTGL or EWW?

On 1-year performance, EWW leads with 32.83% vs 25.96% for OTGL. On fees, EWW is cheaper at 0.50% per year. On volatility, OTGL has been the lower-risk option at 4.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OTGL or EWW?

Over the 1-year period, EWW has performed better with a 32.83% return vs 25.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OTGL or EWW?

EWW is cheaper with a 0.50% expense ratio, compared with 0.95% for OTGL.

Which ETF pays a higher dividend yield, OTGL or EWW?

EWW has the higher dividend yield at 3.22%, compared with 2.72% for OTGL.

What is the main difference between OTGL and EWW?

OTGL tracks Actively Managed, while EWW tracks MSCI Mexico IMI 25/50 Index. They also come from different issuers: OTG and iShares. Their fees differ too: 0.95% for OTGL and 0.50% for EWW.

Which has better risk-adjusted returns?

EWW currently has the higher Sharpe Ratio (1.50 vs 1.38), 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.