XMBR.L vs. CMX1.L
XMBR.L (Xtrackers MSCI Brazil UCITS ETF 1C) and CMX1.L (iShares MSCI Mexico Capped UCITS ETF USD (Acc)) are both Latin America Equities funds - XMBR.L tracks the MSCI Brazil NR USD while CMX1.L tracks the MSCI Mexico Capped Index (Net Return Index). Both are passively managed. Over the past 10 years, XMBR.L returned 6.58%/yr vs 6.56%/yr for CMX1.L. A 0.51 correlation means they provide meaningful diversification when combined. Both charge a 0.65% expense ratio.
Performance
XMBR.L vs. CMX1.L - Performance Comparison
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Returns By Period
In the year-to-date period, XMBR.L achieves a 13.69% return, which is significantly higher than CMX1.L's 10.08% return. Both investments have delivered pretty close results over the past 10 years, with XMBR.L having a 6.58% annualized return and CMX1.L not far behind at 6.56%.
XMBR.L
- 1D
- -0.93%
- 1M
- 2.19%
- 6M
- 10.27%
- YTD
- 13.69%
- 1Y
- 37.02%
- 3Y*
- 9.03%
- 5Y*
- 6.36%
- 10Y*
- 6.58%
CMX1.L
- 1D
- -0.10%
- 1M
- -5.39%
- 6M
- 4.32%
- YTD
- 10.08%
- 1Y
- 32.57%
- 3Y*
- 9.55%
- 5Y*
- 13.21%
- 10Y*
- 6.56%
XMBR.L vs. CMX1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMBR.L Xtrackers MSCI Brazil UCITS ETF 1C | 13.69% | 38.26% | -28.61% | 25.42% | 25.85% | -17.12% | -21.96% | 20.39% | 4.70% | 12.88% |
CMX1.L iShares MSCI Mexico Capped UCITS ETF USD (Acc) | 10.08% | 46.33% | -26.86% | 30.17% | 10.63% | 20.72% | -3.47% | 6.36% | -8.97% | 2.96% |
Correlation
The correlation between XMBR.L and CMX1.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2010 | 0.51 |
The correlation between XMBR.L and CMX1.L has been stable across timeframes, ranging from 0.45 to 0.51 - a consistent structural relationship.
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Return for Risk
XMBR.L vs. CMX1.L — Risk / Return Rank
XMBR.L
CMX1.L
XMBR.L vs. CMX1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Brazil UCITS ETF 1C (XMBR.L) and iShares MSCI Mexico Capped UCITS ETF USD (Acc) (CMX1.L). 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.
| XMBR.L | CMX1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.27 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 2.47 | -0.42 |
| Martin ratioReturn relative to average drawdown | 5.46 | 8.66 | -3.20 |
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Drawdowns
XMBR.L vs. CMX1.L - Drawdown Comparison
The maximum XMBR.L drawdown since its inception was -84.29%, smaller than the maximum CMX1.L drawdown of -98.52%. Use the drawdown chart below to compare losses from any high point for XMBR.L and CMX1.L.
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Drawdown Indicators
| XMBR.L | CMX1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.29% | -98.52% | +14.23% |
Max Drawdown (1Y)Largest decline over 1 year | -17.94% | -13.03% | -4.91% |
Max Drawdown (3Y)Largest decline over 3 years | -40.25% | -35.93% | -4.32% |
Max Drawdown (5Y)Largest decline over 5 years | -40.25% | -35.93% | -4.32% |
Max Drawdown (10Y)Largest decline over 10 years | -53.50% | -50.58% | -2.92% |
Current DrawdownCurrent decline from peak | -41.59% | -6.25% | -35.34% |
Average DrawdownAverage peak-to-trough decline | -57.96% | -15.85% | -42.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.76% | 3.72% | +3.04% |
Volatility
XMBR.L vs. CMX1.L - Volatility Comparison
The current volatility for Xtrackers MSCI Brazil UCITS ETF 1C (XMBR.L) is 5.49%, while iShares MSCI Mexico Capped UCITS ETF USD (Acc) (CMX1.L) has a volatility of 5.90%. This indicates that XMBR.L experiences smaller price fluctuations and is considered to be less risky than CMX1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XMBR.L | CMX1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.49% | 5.90% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 16.28% | 16.92% | -0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.30% | 20.19% | +1.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.36% | 25.25% | +4.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.64% | 25.83% | +6.81% |
XMBR.L vs. CMX1.L - Expense Ratio Comparison
Both XMBR.L and CMX1.L have an expense ratio of 0.65%.
Dividends
XMBR.L vs. CMX1.L - Dividend Comparison
Neither XMBR.L nor CMX1.L has paid dividends to shareholders.
Frequently Asked Questions
XMBR.L and CMX1.L have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.65% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XMBR.L and CMX1.L have the same expense ratio: 0.65% per year.
XMBR.L tracks MSCI Brazil NR USD, while CMX1.L tracks MSCI Mexico Capped Index (Net Return Index). They also come from different issuers: Xtrackers and iShares.
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