The discriminating ability and relevance of clinical risk factors, quantitative ultrasound (QUS) variables, X-ray-based bone mineral density (BMD) and hip axis length (HAL) measurements to evaluate the risk of osteoporotic fracture in elderly Brazilian women were examined in this study. QUS at the calcaneus (Achilles +, Lunar), HAL and BMD measurements (DPX-L, Lunar) at several anatomical sites were performed in 275 postmenopausal Caucasian women. Patients with suspected secondary osteoporosis were excluded. One hundred twenty-two (44.4%) women had had previous osteoporotic fracture. All of the subjects were over 50 years old (range 53-93) and answered a questionnaire that included details concerning aspects of lifestyle, diet, hormonal factors and drug use. Lateral thoracic and lumbar radiographs were taken and an independent radiologist reviewed the X-rays for the presence of vertebral fractures. After adjustments for age, the most relevant risk factors to discriminate patients with osteoporotic fracture from normal non-fracture controls were Stiffness index (OR 2.8 per standard deviation; 95% confidence interval 2.3, 8.7), familial history of hip fracture (OR 2.6 per standard deviation; 95% confidence interval 2.2, 5.4), femoral neck BMD (OR 2.3 per standard deviation; 95% confidence interval 1.9, 4.2), age (OR 2.1 per standard deviation; 95% confidence interval 1.6, 2.8) and weight (OR 1.9 per standard deviation; 95% confidence interval 1.5, 2.6). HAL measurements did not associate significantly with the risk of hip fracture in this population. The ability of QUS measurements discriminate between patients with fractures from those without was similar to, if not better, than X-ray-based BMD measurements. However, a combination of QUS and BMD measurements did not significantly improve fracture discrimination compared with either technique alone. Association of clinical risk factors with QUS or BMD measurements seems, on the other hand, to increase the sensibility to identify patients at risk of osteoporotic fractures.