XMLA.L vs. IBZL.L

Last updated Apr 2, 2026

Compare and contrast key facts about Xtrackers MSCI EM Latin America ESG Swap UCITS ETF 1C (XMLA.L) and iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L).

XMLA.L and IBZL.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XMLA.L is a passively managed fund by Xtrackers that tracks the performance of the MSCI EM Latin America NR USD. It was launched on Jun 22, 2007. IBZL.L is a passively managed fund by iShares that tracks the performance of the MSCI Brazil NR USD. It was launched on Nov 18, 2005. Both XMLA.L and IBZL.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XMLA.L vs. IBZL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers MSCI EM Latin America ESG Swap UCITS ETF 1C (XMLA.L) and iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L). The values are adjusted to include any dividend payments, if applicable.

XMLA.L vs. IBZL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XMLA.L Xtrackers MSCI EM Latin America ESG Swap UCITS ETF 1C	17.05%	47.26%	-28.14%	19.29%	15.56%	-17.92%	-16.50%	12.08%	-1.16%	11.16%
IBZL.L iShares MSCI Brazil UCITS ETF (Dist)	23.78%	38.28%	-26.04%	25.61%	32.04%	-19.06%	-16.73%	15.40%	3.61%	14.78%

Returns By Period

In the year-to-date period, XMLA.L achieves a 17.05% return, which is significantly lower than IBZL.L's 23.78% return. Over the past 10 years, XMLA.L has underperformed IBZL.L with an annualized return of 6.26%, while IBZL.L has yielded a comparatively higher 10.96% annualized return.

XMLA.L

• 1D: 3.09%
• 1M: 0.66%
• YTD: 17.05%
• 6M: 26.41%
• 1Y: 53.45%
• 3Y*: 13.31%
• 5Y*: 9.13%
• 10Y*: 6.26%

IBZL.L

• 1D: 1.88%
• 1M: 2.04%
• YTD: 23.78%
• 6M: 33.79%
• 1Y: 52.43%
• 3Y*: 17.94%
• 5Y*: 15.19%
• 10Y*: 10.96%

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

XMLA.L vs. IBZL.L - Expense Ratio Comparison

XMLA.L has a 0.65% expense ratio, which is lower than IBZL.L's 0.74% expense ratio.

IBZL.L

iShares MSCI Brazil UCITS ETF (Dist)

XMLA.L

Xtrackers MSCI EM Latin America ESG Swap UCITS ETF 1C

Return for Risk

XMLA.L vs. IBZL.L — Risk / Return Rank

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

XMLA.L

XMLA.L Risk / Return Rank: 96
XMLA.L Sharpe Ratio Rank: 97
XMLA.L Sortino Ratio Rank: 96
XMLA.L Omega Ratio Rank: 95
XMLA.L Calmar Ratio Rank: 97
XMLA.L Martin Ratio Rank: 95

IBZL.L

IBZL.L Risk / Return Rank: 94
IBZL.L Sharpe Ratio Rank: 94
IBZL.L Sortino Ratio Rank: 94
IBZL.L Omega Ratio Rank: 90
IBZL.L Calmar Ratio Rank: 98
IBZL.L Martin Ratio Rank: 93

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.

XMLA.L vs. IBZL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EM Latin America ESG Swap UCITS ETF 1C (XMLA.L) and iShares MSCI Brazil UCITS ETF (Dist) (IBZL.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.

	XMLA.L	IBZL.L	Difference
Sharpe ratio Return per unit of total volatility	2.79	2.33	+0.46
Sortino ratio Return per unit of downside risk	3.55	3.01	+0.55
Omega ratio Gain probability vs. loss probability	1.48	1.40	+0.08
Calmar ratio Return relative to maximum drawdown	5.71	5.59	+0.12
Martin ratio Return relative to average drawdown	17.43	14.23	+3.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMLA.L vs. IBZL.L - Sharpe Ratio Comparison

The current XMLA.L Sharpe Ratio is 2.79, which is comparable to the IBZL.L Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of XMLA.L and IBZL.L, 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

	XMLA.L	IBZL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.79	2.33	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.57	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	0.34	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.22	-0.12

Correlation

The correlation between XMLA.L and IBZL.L is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

XMLA.L vs. IBZL.L - Dividend Comparison

XMLA.L has not paid dividends to shareholders, while IBZL.L's dividend yield for the trailing twelve months is around 5.17%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XMLA.L Xtrackers MSCI EM Latin America ESG Swap UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IBZL.L iShares MSCI Brazil UCITS ETF (Dist)	5.17%	5.74%	8.31%	6.83%	16.49%	8.64%	2.44%	3.28%	3.31%	1.86%	2.24%	5.42%

Drawdowns

XMLA.L vs. IBZL.L - Drawdown Comparison

The maximum XMLA.L drawdown since its inception was -59.62%, smaller than the maximum IBZL.L drawdown of -69.44%. Use the drawdown chart below to compare losses from any high point for XMLA.L and IBZL.L.

Drawdown Indicators

	XMLA.L	IBZL.L	Difference
Max Drawdown Largest peak-to-trough decline	-59.62%	-69.44%	+9.82%
Max Drawdown (1Y) Largest decline over 1 year	-9.37%	-9.74%	+0.37%
Max Drawdown (5Y) Largest decline over 5 years	-30.25%	-28.21%	-2.04%
Max Drawdown (10Y) Largest decline over 10 years	-49.07%	-51.77%	+2.70%
Current Drawdown Current decline from peak	-1.95%	-0.10%	-1.85%
Average Drawdown Average peak-to-trough decline	-25.36%	-21.97%	-3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	3.78%	-0.71%

Volatility

XMLA.L vs. IBZL.L - Volatility Comparison

Xtrackers MSCI EM Latin America ESG Swap UCITS ETF 1C (XMLA.L) has a higher volatility of 8.47% compared to iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) at 7.75%. This indicates that XMLA.L's price experiences larger fluctuations and is considered to be riskier than IBZL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XMLA.L	IBZL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.47%	7.75%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	14.39%	17.26%	-2.87%
Volatility (1Y) Calculated over the trailing 1-year period	19.10%	22.43%	-3.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.20%	26.47%	-5.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.22%	31.75%	-6.53%