EL40.DE vs. IBC3.DE
EL40.DE (Deka MSCI Emerging Markets UCITS ETF ) and IBC3.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF) are both Emerging Markets Equities funds - EL40.DE tracks the MSCI Emerging Markets while IBC3.DE tracks the MSCI Emerging Markets Investable Market (IMI). Both are passively managed. Over the past 5 years, EL40.DE returned 7.38%/yr vs 8.85%/yr for IBC3.DE. Their correlation of 0.92 suggests significant overlap in exposure. EL40.DE charges 0.66%/yr vs 0.18%/yr for IBC3.DE.
Performance
EL40.DE vs. IBC3.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with EL40.DE having a 26.76% return and IBC3.DE slightly lower at 25.91%.
EL40.DE
- 1D
- -2.26%
- 1M
- 3.66%
- YTD
- 26.76%
- 6M
- 26.78%
- 1Y
- 47.15%
- 3Y*
- 19.57%
- 5Y*
- 7.38%
- 10Y*
- 9.07%
IBC3.DE
- 1D
- -1.44%
- 1M
- 3.09%
- YTD
- 25.91%
- 6M
- 26.49%
- 1Y
- 46.24%
- 3Y*
- 20.30%
- 5Y*
- 8.85%
- 10Y*
- —
EL40.DE vs. IBC3.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EL40.DE Deka MSCI Emerging Markets UCITS ETF | 26.76% | 17.86% | 13.11% | 4.33% | -14.87% | 4.55% | 5.36% | 20.78% | -9.81% |
IBC3.DE iShares Core MSCI Emerging Markets IMI UCITS ETF | 25.91% | 17.59% | 14.06% | 7.48% | -13.80% | 7.38% | 7.44% | 21.30% | -9.19% |
Correlation
The correlation between EL40.DE and IBC3.DE is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2018 | 0.92 |
The correlation between EL40.DE and IBC3.DE has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.
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Return for Risk
EL40.DE vs. IBC3.DE — Risk / Return Rank
EL40.DE
IBC3.DE
EL40.DE vs. IBC3.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Deka MSCI Emerging Markets UCITS ETF (EL40.DE) and iShares Core MSCI Emerging Markets IMI UCITS ETF (IBC3.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.
| EL40.DE | IBC3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.49 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 4.51 | -1.63 |
| Martin ratioReturn relative to average drawdown | 7.00 | 16.28 | -9.29 |
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
| EL40.DE | IBC3.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.79 | 2.71 | -0.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.54 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.47 | -0.18 |
Drawdowns
EL40.DE vs. IBC3.DE - Drawdown Comparison
The maximum EL40.DE drawdown since its inception was -36.65%, which is greater than IBC3.DE's maximum drawdown of -31.89%. Use the drawdown chart below to compare losses from any high point for EL40.DE and IBC3.DE.
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Drawdown Indicators
| EL40.DE | IBC3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.65% | -31.89% | -4.76% |
Max Drawdown (1Y)Largest decline over 1 year | -16.53% | -10.42% | -6.11% |
Max Drawdown (3Y)Largest decline over 3 years | -18.17% | -19.08% | +0.91% |
Max Drawdown (5Y)Largest decline over 5 years | -25.06% | -21.95% | -3.11% |
Max Drawdown (10Y)Largest decline over 10 years | -31.59% | — | — |
Current DrawdownCurrent decline from peak | -3.01% | -2.52% | -0.49% |
Average DrawdownAverage peak-to-trough decline | -11.60% | -7.84% | -3.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.82% | 2.89% | +3.93% |
Volatility
EL40.DE vs. IBC3.DE - Volatility Comparison
Deka MSCI Emerging Markets UCITS ETF (EL40.DE) has a higher volatility of 8.00% compared to iShares Core MSCI Emerging Markets IMI UCITS ETF (IBC3.DE) at 7.06%. This indicates that EL40.DE's price experiences larger fluctuations and is considered to be riskier than IBC3.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EL40.DE | IBC3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.00% | 7.06% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 15.83% | 14.60% | +1.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.69% | 17.37% | +9.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.75% | 16.23% | +4.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.44% | 18.42% | +2.02% |
EL40.DE vs. IBC3.DE - Expense Ratio Comparison
EL40.DE has a 0.66% expense ratio, which is higher than IBC3.DE's 0.18% expense ratio.
Dividends
EL40.DE vs. IBC3.DE - Dividend Comparison
EL40.DE has not paid dividends to shareholders, while IBC3.DE's dividend yield for the trailing twelve months is around 1.88%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL40.DE Deka MSCI Emerging Markets UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.07% | 0.00% | 0.02% | 0.00% |
IBC3.DE iShares Core MSCI Emerging Markets IMI UCITS ETF | 1.88% | 2.26% | 2.44% | 2.69% | 3.36% | 2.18% | 2.09% | 2.56% | 2.08% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, EL40.DE and IBC3.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, IBC3.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBC3.DE is cheaper with a 0.18% expense ratio, compared with 0.66% for EL40.DE.
EL40.DE tracks MSCI Emerging Markets, while IBC3.DE tracks MSCI Emerging Markets Investable Market (IMI). They also come from different issuers: Deka Investment GmbH and iShares. Their fees differ too: 0.66% for EL40.DE and 0.18% for IBC3.DE.
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