VLRS vs. EWW

Last updated Apr 2, 2026

Compare and contrast key facts about Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (VLRS) and iShares MSCI Mexico ETF (EWW).

EWW is a passively managed fund by iShares that tracks the performance of the MSCI Mexico IMI 25/50 Index. It was launched on Mar 12, 1996.

Performance

VLRS vs. EWW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (VLRS) and iShares MSCI Mexico ETF (EWW). The values are adjusted to include any dividend payments, if applicable.

VLRS vs. EWW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VLRS Controladora Vuela Compañía de Aviación, S.A.B. de C.V.	-17.57%	19.35%	-20.68%	12.20%	-53.48%	44.69%	19.19%	94.77%	-33.29%	-46.68%
EWW iShares MSCI Mexico ETF	10.15%	53.65%	-28.22%	40.32%	1.24%	20.27%	-3.06%	12.64%	-14.58%	14.47%

Returns By Period

In the year-to-date period, VLRS achieves a -17.57% return, which is significantly lower than EWW's 10.15% return. Over the past 10 years, VLRS has underperformed EWW with an annualized return of -10.00%, while EWW has yielded a comparatively higher 6.32% annualized return.

VLRS

• 1D: 1.10%
• 1M: -7.11%
• YTD: -17.57%
• 6M: 7.17%
• 1Y: 39.43%
• 3Y*: -16.20%
• 5Y*: -13.00%
• 10Y*: -10.00%

EWW

• 1D: 1.52%
• 1M: -3.89%
• YTD: 10.15%
• 6M: 16.56%
• 1Y: 52.24%
• 3Y*: 12.30%
• 5Y*: 14.90%
• 10Y*: 6.32%

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

Return for Risk

VLRS vs. EWW — Risk / Return Rank

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

VLRS

VLRS Risk / Return Rank: 64
VLRS Sharpe Ratio Rank: 65
VLRS Sortino Ratio Rank: 62
VLRS Omega Ratio Rank: 60
VLRS Calmar Ratio Rank: 65
VLRS Martin Ratio Rank: 66

EWW

EWW Risk / Return Rank: 92
EWW Sharpe Ratio Rank: 91
EWW Sortino Ratio Rank: 92
EWW Omega Ratio Rank: 90
EWW Calmar Ratio Rank: 94
EWW Martin Ratio Rank: 94

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.

VLRS vs. EWW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (VLRS) 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.

	VLRS	EWW	Difference
Sharpe ratio Return per unit of total volatility	0.70	2.13	-1.42
Sortino ratio Return per unit of downside risk	1.31	2.76	-1.46
Omega ratio Gain probability vs. loss probability	1.17	1.39	-0.22
Calmar ratio Return relative to maximum drawdown	1.14	3.97	-2.83
Martin ratio Return relative to average drawdown	2.98	15.08	-12.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VLRS vs. EWW - Sharpe Ratio Comparison

The current VLRS Sharpe Ratio is 0.70, which is lower than the EWW Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of VLRS and EWW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VLRS	EWW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.70	2.13	-1.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.25	0.67	-0.92
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.19	0.25	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	0.30	-0.40

Correlation

The correlation between VLRS and EWW is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VLRS vs. EWW - Dividend Comparison

VLRS has not paid dividends to shareholders, while EWW's dividend yield for the trailing twelve months is around 3.16%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VLRS Controladora Vuela Compañía de Aviación, S.A.B. de C.V.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EWW iShares MSCI Mexico ETF	3.16%	3.48%	4.39%	2.19%	3.64%	2.06%	1.43%	2.92%	2.30%	2.22%	1.77%	2.34%

Drawdowns

VLRS vs. EWW - Drawdown Comparison

The maximum VLRS drawdown since its inception was -85.92%, which is greater than EWW's maximum drawdown of -64.94%. Use the drawdown chart below to compare losses from any high point for VLRS and EWW.

Drawdown Indicators

	VLRS	EWW	Difference
Max Drawdown Largest peak-to-trough decline	-85.92%	-64.94%	-20.98%
Max Drawdown (1Y) Largest decline over 1 year	-35.18%	-13.98%	-21.20%
Max Drawdown (5Y) Largest decline over 5 years	-84.28%	-31.17%	-53.11%
Max Drawdown (10Y) Largest decline over 10 years	-85.92%	-53.62%	-32.30%
Current Drawdown Current decline from peak	-67.95%	-5.98%	-61.97%
Average Drawdown Average peak-to-trough decline	-46.23%	-18.60%	-27.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.48%	3.68%	+9.80%

Volatility

VLRS vs. EWW - Volatility Comparison

Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (VLRS) has a higher volatility of 18.81% compared to iShares MSCI Mexico ETF (EWW) at 10.35%. This indicates that VLRS's price experiences larger fluctuations and is considered to be riskier than EWW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLRS	EWW	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.81%	10.35%	+8.46%
Volatility (6M) Calculated over the trailing 6-month period	38.68%	17.54%	+21.14%
Volatility (1Y) Calculated over the trailing 1-year period	56.29%	24.75%	+31.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.03%	22.43%	+29.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.52%	25.39%	+27.13%