SOYB vs. EWZ
SOYB (Teucrium Soybean Fund) and EWZ (iShares MSCI Brazil ETF) are both exchange-traded funds - SOYB is a Agricultural Commodities fund tracking the Teucrium Soybean Fund Benchmark, while EWZ is a Latin America Equities fund tracking the MSCI Brazil 25/50 Index. Both are passively managed. Over the past 10 years, SOYB returned 2.13%/yr vs 6.86%/yr for EWZ. At a 0.23 correlation, their price movements are largely independent. SOYB charges 1.88%/yr vs 0.59%/yr for EWZ.
Performance
SOYB vs. EWZ - Performance Comparison
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Returns By Period
In the year-to-date period, SOYB achieves a 15.14% return, which is significantly higher than EWZ's 14.17% return. Over the past 10 years, SOYB has underperformed EWZ with an annualized return of 2.13%, while EWZ has yielded a comparatively higher 6.86% annualized return.
SOYB
- 1D
- 0.28%
- 1M
- 4.35%
- 6M
- 13.74%
- YTD
- 15.14%
- 1Y
- 17.29%
- 3Y*
- -3.42%
- 5Y*
- 2.09%
- 10Y*
- 2.13%
EWZ
- 1D
- 2.77%
- 1M
- 4.20%
- 6M
- 9.71%
- YTD
- 14.17%
- 1Y
- 36.37%
- 3Y*
- 10.52%
- 5Y*
- 6.56%
- 10Y*
- 6.86%
SOYB vs. EWZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SOYB Teucrium Soybean Fund | 15.14% | 1.77% | -20.48% | -5.23% | 25.27% | 16.85% | 22.99% | -2.16% | -9.51% | -6.38% |
EWZ iShares MSCI Brazil ETF | 14.17% | 48.81% | -30.41% | 32.62% | 12.09% | -17.32% | -20.35% | 27.67% | -2.52% | 23.62% |
Correlation
The correlation between SOYB and EWZ is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2011 | 0.23 |
The correlation between SOYB and EWZ shifts across timeframes, from 0.12 (1 year) to 0.26 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
SOYB vs. EWZ — Risk / Return Rank
SOYB
EWZ
SOYB vs. EWZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Teucrium Soybean Fund (SOYB) and iShares MSCI Brazil ETF (EWZ). 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.
| SOYB | EWZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.25 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 1.85 | +0.07 |
| Martin ratioReturn relative to average drawdown | 5.02 | 4.94 | +0.08 |
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Drawdowns
SOYB vs. EWZ - Drawdown Comparison
The maximum SOYB drawdown since its inception was -53.76%, smaller than the maximum EWZ drawdown of -77.25%. Use the drawdown chart below to compare losses from any high point for SOYB and EWZ.
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Drawdown Indicators
| SOYB | EWZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.76% | -77.25% | +23.49% |
Max Drawdown (1Y)Largest decline over 1 year | -8.78% | -19.27% | +10.49% |
Max Drawdown (3Y)Largest decline over 3 years | -31.01% | -31.36% | +0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -31.01% | -32.24% | +1.23% |
Max Drawdown (10Y)Largest decline over 10 years | -33.93% | -56.99% | +23.06% |
Current DrawdownCurrent decline from peak | -14.12% | -20.49% | +6.37% |
Average DrawdownAverage peak-to-trough decline | -25.69% | -35.90% | +10.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 7.20% | -3.84% |
Volatility
SOYB vs. EWZ - Volatility Comparison
The current volatility for Teucrium Soybean Fund (SOYB) is 4.42%, while iShares MSCI Brazil ETF (EWZ) has a volatility of 5.74%. This indicates that SOYB experiences smaller price fluctuations and is considered to be less risky than EWZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SOYB | EWZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 5.74% | -1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 9.47% | 19.70% | -10.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.93% | 24.98% | -12.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.14% | 27.60% | -10.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.80% | 33.90% | -17.10% |
SOYB vs. EWZ - Expense Ratio Comparison
SOYB has a 1.88% expense ratio, which is higher than EWZ's 0.59% expense ratio.
Dividends
SOYB vs. EWZ - Dividend Comparison
SOYB has not paid dividends to shareholders, while EWZ's dividend yield for the trailing twelve months is around 4.07%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWZ iShares MSCI Brazil ETF | 4.07% | 5.19% | 8.91% | 5.66% | 12.59% | 9.87% | 1.71% | 2.54% | 2.89% | 1.71% | 1.81% | 4.08% |
SOYB Teucrium Soybean Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SOYB and EWZ have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWZ has higher volatility (5.74%) compared to SOYB (4.42%). In terms of maximum drawdown, SOYB dropped -53.76% vs EWZ's -77.25%.
On 10-year performance, EWZ leads with 6.86% vs 2.13% for SOYB. On fees, EWZ is cheaper at 0.59% per year. On volatility, SOYB has been the lower-risk option at 4.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EWZ has performed better with a 6.86% return vs 2.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EWZ is cheaper with a 0.59% expense ratio, compared with 1.88% for SOYB.
EWZ has the higher dividend yield at 4.07%, compared with 0.00% for SOYB.
SOYB is categorized as Agricultural Commodities, while EWZ is Latin America Equities. SOYB tracks Teucrium Soybean Fund Benchmark, while EWZ tracks MSCI Brazil 25/50 Index. They also come from different issuers: Teucrium and iShares. Their fees differ too: 1.88% for SOYB and 0.59% for EWZ.
EWZ currently has the higher Sharpe Ratio (1.43 vs 1.31), 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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