CBE3.L vs. IS3N.DE
CBE3.L (iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc)) and IS3N.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) are both exchange-traded funds - CBE3.L is a Short-Term Bond fund tracking the Bloomberg Euro Government Bond 1-3 Year Index, while IS3N.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market (IMI). Both are passively managed. Over the past 10 years, CBE3.L returned 0.36%/yr vs 10.00%/yr for IS3N.DE. At a 0.12 correlation, their price movements are largely independent. CBE3.L charges 0.20%/yr vs 0.18%/yr for IS3N.DE.
Performance
CBE3.L vs. IS3N.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CBE3.L achieves a 0.13% return, which is significantly lower than IS3N.DE's 25.82% return. Over the past 10 years, CBE3.L has underperformed IS3N.DE with an annualized return of 0.36%, while IS3N.DE has yielded a comparatively higher 10.00% annualized return.
CBE3.L
- 1D
- 0.04%
- 1M
- 0.24%
- YTD
- 0.13%
- 6M
- 0.25%
- 1Y
- 0.94%
- 3Y*
- 2.70%
- 5Y*
- 0.81%
- 10Y*
- 0.36%
IS3N.DE
- 1D
- -1.45%
- 1M
- 5.25%
- YTD
- 25.82%
- 6M
- 27.45%
- 1Y
- 46.76%
- 3Y*
- 19.99%
- 5Y*
- 8.61%
- 10Y*
- 10.00%
CBE3.L vs. IS3N.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CBE3.L iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) | 0.13% | 2.27% | 3.11% | 3.46% | -4.26% | -0.83% | -0.15% | 0.18% | -0.33% | 0.06% |
IS3N.DE iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 25.82% | 17.14% | 13.87% | 7.20% | -14.09% | 7.38% | 7.07% | 21.01% | -11.06% | 20.43% |
Correlation
The correlation between CBE3.L and IS3N.DE is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jun 9, 2014 | 0.12 |
The correlation between CBE3.L and IS3N.DE shifts across timeframes, from 0.06 (5 years) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CBE3.L vs. IS3N.DE — Risk / Return Rank
CBE3.L
IS3N.DE
CBE3.L vs. IS3N.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.L) and iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE). 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.
| CBE3.L | IS3N.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.90 | ||
| Sortino ratioReturn per unit of downside risk | -2.39 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.49 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.85 | 4.42 | -3.57 |
| Martin ratioReturn relative to average drawdown | 2.81 | 16.00 | -13.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CBE3.L | IS3N.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 2.69 | -1.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.53 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.55 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.44 | 0.00 |
Drawdowns
CBE3.L vs. IS3N.DE - Drawdown Comparison
The maximum CBE3.L drawdown since its inception was -6.12%, smaller than the maximum IS3N.DE drawdown of -35.06%. Use the drawdown chart below to compare losses from any high point for CBE3.L and IS3N.DE.
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Drawdown Indicators
| CBE3.L | IS3N.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.12% | -35.06% | +28.94% |
Max Drawdown (1Y)Largest decline over 1 year | -1.10% | -10.52% | +9.42% |
Max Drawdown (3Y)Largest decline over 3 years | -1.10% | -19.17% | +18.07% |
Max Drawdown (5Y)Largest decline over 5 years | -5.19% | -22.01% | +16.82% |
Max Drawdown (10Y)Largest decline over 10 years | -6.12% | -32.51% | +26.39% |
Current DrawdownCurrent decline from peak | -0.42% | -2.49% | +2.07% |
Average DrawdownAverage peak-to-trough decline | -1.06% | -9.30% | +8.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 2.91% | -2.57% |
Volatility
CBE3.L vs. IS3N.DE - Volatility Comparison
The current volatility for iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.L) is 0.41%, while iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) has a volatility of 7.16%. This indicates that CBE3.L experiences smaller price fluctuations and is considered to be less risky than IS3N.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBE3.L | IS3N.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 7.16% | -6.75% |
Volatility (6M)Calculated over the trailing 6-month period | 1.08% | 14.69% | -13.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.19% | 17.32% | -16.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.51% | 16.19% | -14.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.28% | 18.04% | -16.76% |
CBE3.L vs. IS3N.DE - Expense Ratio Comparison
CBE3.L has a 0.20% expense ratio, which is higher than IS3N.DE's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CBE3.L vs. IS3N.DE - Dividend Comparison
Neither CBE3.L nor IS3N.DE has paid dividends to shareholders.
Frequently Asked Questions
CBE3.L and IS3N.DE have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS3N.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS3N.DE is cheaper with a 0.18% expense ratio, compared with 0.20% for CBE3.L.
CBE3.L is categorized as Short-Term Bond, while IS3N.DE is Emerging Markets Equities. CBE3.L tracks Bloomberg Euro Government Bond 1-3 Year Index, while IS3N.DE tracks MSCI Emerging Markets Investable Market (IMI). Their fees differ too: 0.20% for CBE3.L and 0.18% for IS3N.DE.
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