IBC3.DE vs. FVEM.DE

Last updated Jun 5, 2026

IBC3.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF) and FVEM.DE (Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation) are both Emerging Markets Equities funds - IBC3.DE tracks the MSCI Emerging Markets Investable Market (IMI) while FVEM.DE tracks the MSCI Emerging Markets Climate Paris Aligned. Both are passively managed. Over the past 3 years, IBC3.DE returned 20.30%/yr vs 18.13%/yr for FVEM.DE. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.18% expense ratio.

Performance

IBC3.DE vs. FVEM.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Core MSCI Emerging Markets IMI UCITS ETF (IBC3.DE) and Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation (FVEM.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with IBC3.DE having a 25.91% return and FVEM.DE slightly lower at 25.43%.

IBC3.DE

• 1D: -1.44%
• 1M: 5.28%
• YTD: 25.91%
• 6M: 27.63%
• 1Y: 47.26%
• 3Y*: 20.30%
• 5Y*: 8.85%
• 10Y*: —

FVEM.DE

• 1D: -1.33%
• 1M: 4.58%
• YTD: 25.43%
• 6M: 27.21%
• 1Y: 47.18%
• 3Y*: 18.13%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBC3.DE vs. FVEM.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IBC3.DE iShares Core MSCI Emerging Markets IMI UCITS ETF	25.91%	17.59%	14.06%	6.15%
FVEM.DE Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation	25.43%	17.23%	13.32%	0.60%

Correlation

The correlation between IBC3.DE and FVEM.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	0.93
Correlation (All Time) Calculated using the full available price history since Mar 13, 2023	0.93

The correlation between IBC3.DE and FVEM.DE has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

IBC3.DE vs. FVEM.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBC3.DE

IBC3.DE Risk / Return Rank: 83
IBC3.DE Sharpe Ratio Rank: 84
IBC3.DE Sortino Ratio Rank: 83
IBC3.DE Omega Ratio Rank: 83
IBC3.DE Calmar Ratio Rank: 84
IBC3.DE Martin Ratio Rank: 82

FVEM.DE

FVEM.DE Risk / Return Rank: 83
FVEM.DE Sharpe Ratio Rank: 83
FVEM.DE Sortino Ratio Rank: 82
FVEM.DE Omega Ratio Rank: 81
FVEM.DE Calmar Ratio Rank: 84
FVEM.DE Martin Ratio Rank: 84

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBC3.DE vs. FVEM.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets IMI UCITS ETF (IBC3.DE) and Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation (FVEM.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.

	IBC3.DE	FVEM.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.71	2.66	+0.05
Sortino ratio: Return per unit of downside risk	3.65	3.59	+0.06
Omega ratio: Gain probability vs. loss probability	1.49	1.47	+0.02
Calmar ratio: Return relative to maximum drawdown	4.51	4.42	+0.09
Martin ratio: Return relative to average drawdown	16.28	16.79	-0.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBC3.DE vs. FVEM.DE - Sharpe Ratio Comparison

The current IBC3.DE Sharpe Ratio is 2.71, which is comparable to the FVEM.DE Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of IBC3.DE and FVEM.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBC3.DE	FVEM.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.71	2.66	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	1.08	-0.60

Drawdowns

IBC3.DE vs. FVEM.DE - Drawdown Comparison

The maximum IBC3.DE drawdown since its inception was -31.89%, which is greater than FVEM.DE's maximum drawdown of -18.76%. Use the drawdown chart below to compare losses from any high point for IBC3.DE and FVEM.DE.

Drawdown Indicators

	IBC3.DE	FVEM.DE	Difference
Max Drawdown Largest peak-to-trough decline	-31.89%	-18.76%	-13.13%
Max Drawdown (1Y) Largest decline over 1 year	-10.42%	-10.62%	+0.20%
Max Drawdown (3Y) Largest decline over 3 years	-19.08%	-18.76%	-0.32%
Max Drawdown (5Y) Largest decline over 5 years	-21.95%	—	—
Current Drawdown Current decline from peak	-2.52%	-2.08%	-0.44%
Average Drawdown Average peak-to-trough decline	-7.84%	-3.46%	-4.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	2.80%	+0.09%

Volatility

IBC3.DE vs. FVEM.DE - Volatility Comparison

iShares Core MSCI Emerging Markets IMI UCITS ETF (IBC3.DE) and Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation (FVEM.DE) have volatilities of 7.06% and 7.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBC3.DE	FVEM.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.06%	7.26%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	14.60%	14.82%	-0.22%
Volatility (1Y) Calculated over the trailing 1-year period	17.37%	17.67%	-0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.23%	16.04%	+0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.42%	16.04%	+2.38%

IBC3.DE vs. FVEM.DE - Expense Ratio Comparison

Both IBC3.DE and FVEM.DE have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IBC3.DE vs. FVEM.DE - Dividend Comparison

IBC3.DE's dividend yield for the trailing twelve months is around 1.88%, while FVEM.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FVEM.DE Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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%

Frequently Asked Questions

Can I hold both IBC3.DE and FVEM.DE in my portfolio?

With a correlation of 0.92, IBC3.DE and FVEM.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.

Which ETF is better, IBC3.DE or FVEM.DE?

Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBC3.DE or FVEM.DE?

IBC3.DE and FVEM.DE have the same expense ratio: 0.18% per year.

What is the main difference between IBC3.DE and FVEM.DE?

IBC3.DE tracks MSCI Emerging Markets Investable Market (IMI), while FVEM.DE tracks MSCI Emerging Markets Climate Paris Aligned. They also come from different issuers: iShares and Franklin Templeton.