EXS3.DE vs. IBCJ.DE
EXS3.DE (iShares MDAX UCITS ETF (DE)) and IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) are both Europe Equities funds from iShares - EXS3.DE tracks the MDAX® while IBCJ.DE tracks the MSCI Poland. Both are passively managed. Over the past 10 years, EXS3.DE returned 4.04%/yr vs 9.17%/yr for IBCJ.DE. A 0.55 correlation means they provide meaningful diversification when combined. EXS3.DE charges 0.51%/yr vs 0.74%/yr for IBCJ.DE.
Performance
EXS3.DE vs. IBCJ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EXS3.DE achieves a 6.43% return, which is significantly lower than IBCJ.DE's 16.30% return. Over the past 10 years, EXS3.DE has underperformed IBCJ.DE with an annualized return of 4.04%, while IBCJ.DE has yielded a comparatively higher 9.17% annualized return.
EXS3.DE
- 1D
- 0.21%
- 1M
- 5.13%
- YTD
- 6.43%
- 6M
- 10.24%
- 1Y
- 4.92%
- 3Y*
- 6.03%
- 5Y*
- -1.18%
- 10Y*
- 4.04%
IBCJ.DE
- 1D
- 0.17%
- 1M
- 5.66%
- YTD
- 16.30%
- 6M
- 25.77%
- 1Y
- 38.98%
- 3Y*
- 29.89%
- 5Y*
- 14.80%
- 10Y*
- 9.17%
EXS3.DE vs. IBCJ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EXS3.DE iShares MDAX UCITS ETF (DE) | 6.43% | 19.10% | -6.45% | 7.92% | -29.11% | 13.18% | 8.17% | 30.28% | -18.39% | 17.41% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 16.30% | 53.66% | -0.42% | 43.86% | -21.74% | 14.34% | -18.69% | -3.73% | -9.07% | 35.59% |
Correlation
The correlation between EXS3.DE and IBCJ.DE is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2011 | 0.55 |
The correlation between EXS3.DE and IBCJ.DE has been stable across timeframes, ranging from 0.52 to 0.56 - a consistent structural relationship.
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Return for Risk
EXS3.DE vs. IBCJ.DE — Risk / Return Rank
EXS3.DE
IBCJ.DE
EXS3.DE vs. IBCJ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MDAX UCITS ETF (DE) (EXS3.DE) and iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.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.
| EXS3.DE | IBCJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.28 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 3.90 | -3.56 |
| Martin ratioReturn relative to average drawdown | 0.91 | 9.60 | -8.69 |
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
| EXS3.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 1.65 | -1.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.06 | 0.55 | -0.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.36 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.15 | +0.21 |
Drawdowns
EXS3.DE vs. IBCJ.DE - Drawdown Comparison
The maximum EXS3.DE drawdown since its inception was -63.82%, which is greater than IBCJ.DE's maximum drawdown of -56.11%. Use the drawdown chart below to compare losses from any high point for EXS3.DE and IBCJ.DE.
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Drawdown Indicators
| EXS3.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.82% | -56.11% | -7.71% |
Max Drawdown (1Y)Largest decline over 1 year | -14.57% | -9.96% | -4.61% |
Max Drawdown (3Y)Largest decline over 3 years | -18.67% | -18.47% | -0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -40.31% | -47.31% | +7.00% |
Max Drawdown (10Y)Largest decline over 10 years | -40.31% | -56.11% | +15.80% |
Current DrawdownCurrent decline from peak | -12.23% | -1.16% | -11.07% |
Average DrawdownAverage peak-to-trough decline | -14.02% | -19.38% | +5.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.35% | 4.05% | +1.30% |
Volatility
EXS3.DE vs. IBCJ.DE - Volatility Comparison
The current volatility for iShares MDAX UCITS ETF (DE) (EXS3.DE) is 4.94%, while iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) has a volatility of 7.13%. This indicates that EXS3.DE experiences smaller price fluctuations and is considered to be less risky than IBCJ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EXS3.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 7.13% | -2.19% |
Volatility (6M)Calculated over the trailing 6-month period | 15.18% | 17.61% | -2.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.54% | 23.48% | -4.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.35% | 26.72% | -7.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.37% | 25.15% | -6.78% |
EXS3.DE vs. IBCJ.DE - Expense Ratio Comparison
EXS3.DE has a 0.51% expense ratio, which is lower than IBCJ.DE's 0.74% expense ratio.
Dividends
EXS3.DE vs. IBCJ.DE - Dividend Comparison
Neither EXS3.DE nor IBCJ.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXS3.DE iShares MDAX UCITS ETF (DE) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.41% | 0.49% | 0.53% | 0.49% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EXS3.DE and IBCJ.DE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EXS3.DE is cheaper at 0.51% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EXS3.DE is cheaper with a 0.51% expense ratio, compared with 0.74% for IBCJ.DE.
EXS3.DE tracks MDAX®, while IBCJ.DE tracks MSCI Poland. Their fees differ too: 0.51% for EXS3.DE and 0.74% for IBCJ.DE.
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