TGLS vs. FEZ

Last updated Aug 4, 2026

TGLS (Tecnoglass Inc.) is a stock, while FEZ (State Street SPDR EURO STOXX 50 ETF) is Europe Equities fund tracking the EURO STOXX 50 Index. Over the past 10 years, TGLS returned 18.31%/yr vs 11.24%/yr for FEZ. Their 0.25 correlation means their historical movements had little consistent relationship.

Performance

TGLS vs. FEZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tecnoglass Inc. (TGLS) and State Street SPDR EURO STOXX 50 ETF (FEZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TGLS achieves a -6.45% return, which is significantly lower than FEZ's 11.38% return. Over the past 10 years, TGLS has outperformed FEZ with an annualized return of 18.31%, while FEZ has yielded a comparatively lower 11.24% annualized return.

TGLS

• 1D: 7.64%
• 1M: 2.50%
• 6M: -2.74%
• YTD: -6.45%
• 1Y: -37.33%
• 3Y*: 1.21%
• 5Y*: 21.11%
• 10Y*: 18.31%
• ALL TIME*: 13.67%

FEZ

• 1D: 1.00%
• 1M: 2.15%
• 6M: 6.43%
• YTD: 11.38%
• 1Y: 26.62%
• 3Y*: 19.06%
• 5Y*: 11.56%
• 10Y*: 11.24%
• ALL TIME*: 7.88%

*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)
FEZ State Street SPDR EURO STOXX 50 ETF	$54.62M	$50.91M	$93.92M
TGLS Tecnoglass Inc.	$11.14M	$10.16M	$12.47M

TGLS vs. FEZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TGLS Tecnoglass Inc.	-6.45%	-35.98%	74.88%	49.86%	18.91%	281.83%	-14.53%	10.03%	15.12%	-36.04%
FEZ State Street SPDR EURO STOXX 50 ETF	11.38%	37.81%	3.57%	27.16%	-14.27%	14.84%	4.84%	26.04%	-15.85%	24.80%

Correlation

The correlation between TGLS and FEZ is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (3Y) Balances recent behavior with more history.	0.38
Correlation (5Y) Shows whether the relationship held over a longer period.	0.42
Correlation (10Y) Provides a long-term view across more market conditions.	0.31
Correlation (All Time) Calculated using the full available price history since May 10, 2012	0.25

The correlation between TGLS and FEZ shifts across timeframes, from 0.25 (all time) to 0.42 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

TGLS vs. FEZ — Risk / Return Rank

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

TGLS

TGLS Risk / Return Rank: 13
TGLS Sharpe Ratio Rank: 6
TGLS Sortino Ratio Rank: 9
TGLS Omega Ratio Rank: 11
TGLS Calmar Ratio Rank: 17
TGLS Martin Ratio Rank: 23

FEZ

FEZ Risk / Return Rank: 58
FEZ Sharpe Ratio Rank: 60
FEZ Sortino Ratio Rank: 61
FEZ Omega Ratio Rank: 57
FEZ Calmar Ratio Rank: 54
FEZ Martin Ratio Rank: 56

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.

TGLS vs. FEZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tecnoglass Inc. (TGLS) and State Street SPDR EURO STOXX 50 ETF (FEZ). 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.

	TGLS	FEZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.92	1.45	-2.37
Sortino ratio: Return per unit of downside risk	-1.26	2.10	-3.36
Omega ratio: Gain probability vs. loss probability	0.86	1.25	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.70	1.96	-2.66
Martin ratio: Return relative to average drawdown	-0.96	6.84	-7.80

TGLS vs. FEZ - Sharpe Ratio Comparison

The current TGLS Sharpe Ratio is -0.92, which is lower than the FEZ Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of TGLS and FEZ, 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

TGLS vs. FEZ - Drawdown Comparison

The maximum TGLS drawdown since its inception was -81.32%, which is greater than FEZ's maximum drawdown of -64.21%. Use the drawdown chart below to compare losses from any high point for TGLS and FEZ.

Drawdown Indicators

	TGLS	FEZ	Difference
Max Drawdown Largest peak-to-trough decline	-81.32%	-64.21%	-17.11%
Max Drawdown (1Y) Largest decline over 1 year	-53.83%	-13.63%	-40.20%
Max Drawdown (3Y) Largest decline over 3 years	-56.55%	-15.85%	-40.70%
Max Drawdown (5Y) Largest decline over 5 years	-56.55%	-35.05%	-21.50%
Max Drawdown (10Y) Largest decline over 10 years	-77.98%	-39.69%	-38.29%
Current Drawdown Current decline from peak	-46.38%	0.00%	-46.38%
Average Drawdown Average peak-to-trough decline	-23.26%	-16.96%	-6.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.84%	3.90%	+34.94%

Volatility

TGLS vs. FEZ - Volatility Comparison

Tecnoglass Inc. (TGLS) has a higher volatility of 14.10% compared to State Street SPDR EURO STOXX 50 ETF (FEZ) at 4.89%. This indicates that TGLS's price experiences larger fluctuations and is considered to be riskier than FEZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TGLS	FEZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.10%	4.89%	+9.21%
Volatility (6M) Calculated over the trailing 6-month period	30.68%	15.97%	+14.71%
Volatility (1Y) Calculated over the trailing 1-year period	40.89%	18.42%	+22.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.32%	20.70%	+32.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.41%	20.70%	+33.71%

Dividends

TGLS vs. FEZ - Dividend Comparison

TGLS's dividend yield for the trailing twelve months is around 1.28%, less than FEZ's 2.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEZ State Street SPDR EURO STOXX 50 ETF	2.53%	2.78%	2.94%	2.75%	3.06%	2.61%	2.13%	2.61%	3.45%	2.44%	3.35%	3.03%
TGLS Tecnoglass Inc.	1.28%	1.19%	0.61%	0.79%	0.91%	0.56%	1.59%	6.79%	5.20%	7.21%	2.04%	0.00%

Frequently Asked Questions

Can I hold both TGLS and FEZ in my portfolio?

TGLS and FEZ have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TGLS or FEZ?

TGLS has higher volatility (14.10%) compared to FEZ (4.89%). In terms of maximum drawdown, TGLS dropped -81.32% vs FEZ's -64.21%.

Which has better risk-adjusted returns?

FEZ currently has the higher Sharpe Ratio (1.45 vs -0.92), 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.