OTGL vs. EWZS
OTGL (OTG Latin America ETF) and EWZS (iShares MSCI Brazil Small-Cap ETF) are both Latin America Equities funds - OTGL tracks the Actively Managed while EWZS tracks the MSCI Brazil Small Cap Index. Both are passively managed. Over the past year, OTGL returned 25.96% vs 15.13% for EWZS. Their correlation of 0.82 means they have usually moved in the same direction. OTGL charges 0.95%/yr vs 0.59%/yr for EWZS.
Performance
OTGL vs. EWZS - Performance Comparison
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Returns By Period
In the year-to-date period, OTGL achieves a 9.47% return, which is significantly higher than EWZS's 3.23% return.
OTGL
- 1D
- -0.31%
- 1M
- 3.58%
- 6M
- -2.10%
- YTD
- 9.47%
- 1Y
- 25.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 23.01%
EWZS
- 1D
- 0.01%
- 1M
- 1.79%
- 6M
- -10.93%
- YTD
- 3.23%
- 1Y
- 15.13%
- 3Y*
- -0.97%
- 5Y*
- -2.36%
- 10Y*
- 4.41%
- ALL TIME*
- -1.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $995.84K | $1.72M | $5.21M | |
| $6.34K | $5.67K | $23.88K |
OTGL vs. EWZS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OTGL OTG Latin America ETF | 9.47% | 13.64% |
EWZS iShares MSCI Brazil Small-Cap ETF | 3.23% | 6.53% |
Correlation
The correlation between OTGL and EWZS is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025 | 0.82 |
The correlation between OTGL and EWZS has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.
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Return for Risk
OTGL vs. EWZS — Risk / Return Rank
OTGL
EWZS
OTGL vs. EWZS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for OTG Latin America ETF (OTGL) and iShares MSCI Brazil Small-Cap ETF (EWZS). 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 | EWZS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.11 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 0.71 | +1.22 |
| Martin ratioReturn relative to average drawdown | 4.95 | 1.56 | +3.39 |
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Drawdowns
OTGL vs. EWZS - Drawdown Comparison
The maximum OTGL drawdown since its inception was -13.52%, smaller than the maximum EWZS drawdown of -79.23%. Use the drawdown chart below to compare losses from any high point for OTGL and EWZS.
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Drawdown Indicators
| OTGL | EWZS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.52% | -79.23% | +65.71% |
Max Drawdown (1Y)Largest decline over 1 year | -13.52% | -21.53% | +8.01% |
Max Drawdown (3Y)Largest decline over 3 years | — | -37.33% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -42.60% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -63.15% | — |
Current DrawdownCurrent decline from peak | -5.66% | -32.12% | +26.46% |
Average DrawdownAverage peak-to-trough decline | -3.78% | -36.52% | +32.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.26% | 9.74% | -4.48% |
Volatility
OTGL vs. EWZS - Volatility Comparison
The current volatility for OTG Latin America ETF (OTGL) is 4.52%, while iShares MSCI Brazil Small-Cap ETF (EWZS) has a volatility of 7.98%. This indicates that OTGL experiences smaller price fluctuations and is considered to be less risky than EWZS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OTGL | EWZS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.52% | 7.98% | -3.46% |
Volatility (6M)Calculated over the trailing 6-month period | 15.08% | 24.20% | -9.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.98% | 30.90% | -11.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.74% | 33.01% | -14.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.74% | 36.69% | -17.95% |
OTGL vs. EWZS - Expense Ratio Comparison
OTGL has a 0.95% expense ratio, which is higher than EWZS's 0.59% expense ratio.
Dividends
OTGL vs. EWZS - Dividend Comparison
OTGL's dividend yield for the trailing twelve months is around 2.72%, less than EWZS's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWZS iShares MSCI Brazil Small-Cap ETF | 3.87% | 3.88% | 4.93% | 2.75% | 4.61% | 4.51% | 1.15% | 1.77% | 4.35% | 3.41% | 3.62% | 4.35% |
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
OTGL and EWZS have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWZS has higher volatility (7.98%) compared to OTGL (4.52%). In terms of maximum drawdown, OTGL dropped -13.52% vs EWZS's -79.23%.
On 1-year performance, OTGL leads with 25.96% vs 15.13% for EWZS. On fees, EWZS is cheaper at 0.59% 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.
Over the 1-year period, OTGL has performed better with a 25.96% return vs 15.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EWZS is cheaper with a 0.59% expense ratio, compared with 0.95% for OTGL.
EWZS has the higher dividend yield at 3.87%, compared with 2.72% for OTGL.
OTGL tracks Actively Managed, while EWZS tracks MSCI Brazil Small Cap Index. They also come from different issuers: OTG and iShares. Their fees differ too: 0.95% for OTGL and 0.59% for EWZS.
OTGL currently has the higher Sharpe Ratio (1.38 vs 0.49), 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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