EUNZ.DE vs. IS3N.DE
EUNZ.DE (iShares Edge MSCI EM Minimum Volatility UCITS ETF) and IS3N.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) are both Emerging Markets Equities funds from iShares - EUNZ.DE tracks the MSCI Emerging Markets Minimum Volatility while IS3N.DE tracks the MSCI Emerging Markets Investable Market (IMI). Both are passively managed. Over the past 10 years, EUNZ.DE returned 6.20%/yr vs 10.00%/yr for IS3N.DE. Their correlation of 0.91 suggests significant overlap in exposure. EUNZ.DE charges 0.40%/yr vs 0.18%/yr for IS3N.DE.
Performance
EUNZ.DE vs. IS3N.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUNZ.DE achieves a 18.69% return, which is significantly lower than IS3N.DE's 25.82% return. Over the past 10 years, EUNZ.DE has underperformed IS3N.DE with an annualized return of 6.20%, while IS3N.DE has yielded a comparatively higher 10.00% annualized return.
EUNZ.DE
- 1D
- -1.19%
- 1M
- 3.85%
- YTD
- 18.69%
- 6M
- 17.92%
- 1Y
- 22.13%
- 3Y*
- 11.07%
- 5Y*
- 6.48%
- 10Y*
- 6.20%
IS3N.DE
- 1D
- -1.45%
- 1M
- 3.11%
- YTD
- 25.82%
- 6M
- 26.34%
- 1Y
- 45.77%
- 3Y*
- 19.99%
- 5Y*
- 8.61%
- 10Y*
- 10.00%
EUNZ.DE vs. IS3N.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUNZ.DE iShares Edge MSCI EM Minimum Volatility UCITS ETF | 18.69% | -0.15% | 15.73% | 3.85% | -8.85% | 13.05% | -2.49% | 10.59% | -1.89% | 11.39% |
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 EUNZ.DE and IS3N.DE is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jun 9, 2014 | 0.91 |
The correlation between EUNZ.DE and IS3N.DE has been stable across timeframes, ranging from 0.84 to 0.91 - a consistent structural relationship.
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Return for Risk
EUNZ.DE vs. IS3N.DE — Risk / Return Rank
EUNZ.DE
IS3N.DE
EUNZ.DE vs. IS3N.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE) 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.
| EUNZ.DE | IS3N.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.49 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.00 | 4.42 | -1.43 |
| Martin ratioReturn relative to average drawdown | 10.57 | 16.00 | -5.44 |
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
| EUNZ.DE | IS3N.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | 2.69 | -0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.53 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | 0.55 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.44 | -0.08 |
Drawdowns
EUNZ.DE vs. IS3N.DE - Drawdown Comparison
The maximum EUNZ.DE drawdown since its inception was -30.47%, smaller than the maximum IS3N.DE drawdown of -35.06%. Use the drawdown chart below to compare losses from any high point for EUNZ.DE and IS3N.DE.
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Drawdown Indicators
| EUNZ.DE | IS3N.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.47% | -35.06% | +4.59% |
Max Drawdown (1Y)Largest decline over 1 year | -7.50% | -10.52% | +3.02% |
Max Drawdown (3Y)Largest decline over 3 years | -14.00% | -19.17% | +5.17% |
Max Drawdown (5Y)Largest decline over 5 years | -14.00% | -22.01% | +8.01% |
Max Drawdown (10Y)Largest decline over 10 years | -26.15% | -32.51% | +6.36% |
Current DrawdownCurrent decline from peak | -1.96% | -2.49% | +0.53% |
Average DrawdownAverage peak-to-trough decline | -7.62% | -9.30% | +1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 2.91% | -0.78% |
Volatility
EUNZ.DE vs. IS3N.DE - Volatility Comparison
The current volatility for iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE) is 4.75%, while iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) has a volatility of 7.16%. This indicates that EUNZ.DE 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
| EUNZ.DE | IS3N.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.75% | 7.16% | -2.41% |
Volatility (6M)Calculated over the trailing 6-month period | 10.35% | 14.69% | -4.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.18% | 17.32% | -5.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.41% | 16.19% | -4.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.32% | 18.04% | -4.72% |
EUNZ.DE vs. IS3N.DE - Expense Ratio Comparison
EUNZ.DE has a 0.40% expense ratio, which is higher than IS3N.DE's 0.18% expense ratio.
Dividends
EUNZ.DE vs. IS3N.DE - Dividend Comparison
Neither EUNZ.DE nor IS3N.DE has paid dividends to shareholders.
Frequently Asked Questions
EUNZ.DE and IS3N.DE have a correlation of 0.88, 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 0.40% for EUNZ.DE.
EUNZ.DE tracks MSCI Emerging Markets Minimum Volatility, while IS3N.DE tracks MSCI Emerging Markets Investable Market (IMI). Their fees differ too: 0.40% for EUNZ.DE and 0.18% for IS3N.DE.
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