CSH.PA vs. IS3N.DE
CSH.PA (Amundi EUR Overnight Return UCITS ETF Acc) and IS3N.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) are both exchange-traded funds - CSH.PA is a Money Market fund tracking the Solactive Euro Overnight Return 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, CSH.PA returned 0.92%/yr vs 10.00%/yr for IS3N.DE. At a 0.02 correlation, their price movements are largely independent. CSH.PA charges 0.10%/yr vs 0.18%/yr for IS3N.DE.
Performance
CSH.PA vs. IS3N.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CSH.PA achieves a 0.78% return, which is significantly lower than IS3N.DE's 25.82% return. Over the past 10 years, CSH.PA has underperformed IS3N.DE with an annualized return of 0.92%, while IS3N.DE has yielded a comparatively higher 10.00% annualized return.
CSH.PA
- 1D
- 0.01%
- 1M
- 0.18%
- YTD
- 0.78%
- 6M
- 0.98%
- 1Y
- 1.99%
- 3Y*
- 2.96%
- 5Y*
- 1.89%
- 10Y*
- 0.92%
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%
CSH.PA vs. IS3N.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSH.PA Amundi EUR Overnight Return UCITS ETF Acc | 0.78% | 2.25% | 3.69% | 3.22% | -0.06% | -0.65% | 1.93% | -0.61% | -0.55% | -0.45% |
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 CSH.PA and IS3N.DE is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jun 9, 2014 | 0.02 |
The correlation between CSH.PA and IS3N.DE shifts across timeframes, from -0.13 (1 year) to 0.03 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
CSH.PA vs. IS3N.DE — Risk / Return Rank
CSH.PA
IS3N.DE
CSH.PA vs. IS3N.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA) 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.
| CSH.PA | IS3N.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.27 | ||
| Sortino ratioReturn per unit of downside risk | +3.03 | ||
| Omega ratioGain probability vs. loss probability | 1.96 | 1.49 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 11.24 | 4.42 | +6.82 |
| Martin ratioReturn relative to average drawdown | 57.34 | 16.00 | +41.33 |
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
| CSH.PA | IS3N.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.96 | 2.69 | +1.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 5.28 | 0.53 | +4.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.41 | 0.55 | +0.86 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.44 | +0.35 |
Drawdowns
CSH.PA vs. IS3N.DE - Drawdown Comparison
The maximum CSH.PA drawdown since its inception was -3.73%, smaller than the maximum IS3N.DE drawdown of -35.06%. Use the drawdown chart below to compare losses from any high point for CSH.PA and IS3N.DE.
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Drawdown Indicators
| CSH.PA | IS3N.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.73% | -35.06% | +31.33% |
Max Drawdown (1Y)Largest decline over 1 year | -0.18% | -10.52% | +10.34% |
Max Drawdown (3Y)Largest decline over 3 years | -0.18% | -19.17% | +18.99% |
Max Drawdown (5Y)Largest decline over 5 years | -0.77% | -22.01% | +21.24% |
Max Drawdown (10Y)Largest decline over 10 years | -2.27% | -32.51% | +30.24% |
Current DrawdownCurrent decline from peak | 0.00% | -2.49% | +2.49% |
Average DrawdownAverage peak-to-trough decline | -1.04% | -9.30% | +8.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 2.91% | -2.88% |
Volatility
CSH.PA vs. IS3N.DE - Volatility Comparison
The current volatility for Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA) is 0.09%, while iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) has a volatility of 7.16%. This indicates that CSH.PA 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
| CSH.PA | IS3N.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.09% | 7.16% | -7.07% |
Volatility (6M)Calculated over the trailing 6-month period | 0.41% | 14.69% | -14.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.50% | 17.32% | -16.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.35% | 16.19% | -15.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.64% | 18.04% | -17.40% |
CSH.PA vs. IS3N.DE - Expense Ratio Comparison
CSH.PA has a 0.10% expense ratio, which is lower than IS3N.DE's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CSH.PA vs. IS3N.DE - Dividend Comparison
Neither CSH.PA nor IS3N.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CSH.PA Amundi EUR Overnight Return UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.05% | 0.05% | 2.60% |
IS3N.DE iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CSH.PA and IS3N.DE have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSH.PA is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSH.PA is cheaper with a 0.10% expense ratio, compared with 0.18% for IS3N.DE.
CSH.PA is categorized as Money Market, while IS3N.DE is Emerging Markets Equities. CSH.PA tracks Solactive Euro Overnight Return Index, while IS3N.DE tracks MSCI Emerging Markets Investable Market (IMI). They also come from different issuers: Amundi and iShares. Their fees differ too: 0.10% for CSH.PA and 0.18% for IS3N.DE.
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