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IBC3.DE vs. GACB.DE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IBC3.DE vs. GACB.DE

Last updated Jun 5, 2026

IBC3.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF) and GACB.DE (Goldman Sachs ActiveBeta Emerging Markets Equity UCITS ETF CLASS USD (Acc.)) are both Emerging Markets Equities funds - IBC3.DE tracks the MSCI Emerging Markets Investable Market (IMI) while GACB.DE tracks the Goldman Sachs ActiveBeta Emerging Markets Equity. Both are passively managed. With a 0.95 correlation, they move nearly in lockstep. IBC3.DE charges 0.18%/yr vs 0.49%/yr for GACB.DE.

Performance

IBC3.DE vs. GACB.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 Goldman Sachs ActiveBeta Emerging Markets Equity UCITS ETF CLASS USD (Acc.) (GACB.DE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

IBC3.DE

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

GACB.DE

1D
—
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022202120202019
IBC3.DE
iShares Core MSCI Emerging Markets IMI UCITS ETF		25.91%17.59%14.06%7.48%-13.80%7.38%7.44%3.05%
GACB.DE
Goldman Sachs ActiveBeta Emerging Markets Equity UCITS ETF CLASS USD (Acc.)		4.68%17.61%13.29%6.42%-14.91%7.63%1.70%2.23%

Correlation

The correlation between IBC3.DE and GACB.DE is 0.78, 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

0.78

Correlation (3Y)
Calculated over the trailing 3-year period

0.92

Correlation (5Y)
Calculated over the trailing 5-year period

0.94

Correlation (All Time)
Calculated using the full available price history since Nov 8, 2019

0.95

The correlation between IBC3.DE and GACB.DE shifts across timeframes, from 0.78 (1 year) to 0.95 (all time), reflecting how their relationship changes across market environments.

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iShares Core MSCI Emerging Markets IMI UCITS ETF

Goldman Sachs ActiveBeta Emerging Markets Equity UCITS ETF CLASS USD (Acc.)

Often compared with IBC3.DE:
IBC3.DE vs. VGEU.DEIBC3.DE vs. SSHY.LIBC3.DE vs. VEMT.LIBC3.DE vs. IQQY.DEIBC3.DE vs. EIMI.LIBC3.DE vs. LQQ.PAIBC3.DE vs. VUSA.DE
Often compared with GACB.DE:
GACB.DE vs. GACA.DEGACB.DE vs. ESRI.DEGACB.DE vs. AW12.DEGACB.DE vs. WTD8.DEGACB.DE vs. H41E.DEGACB.DE vs. EMXC.DEGACB.DE vs. EUNM.DE

Return for Risk

IBC3.DE vs. GACB.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: 8383
Overall Rank
IBC3.DE Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
IBC3.DE Sortino Ratio Rank: 8383
Sortino Ratio Rank
IBC3.DE Omega Ratio Rank: 8383
Omega Ratio Rank
IBC3.DE Calmar Ratio Rank: 8484
Calmar Ratio Rank
IBC3.DE Martin Ratio Rank: 8282
Martin Ratio Rank
GACB.DE
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. GACB.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 Goldman Sachs ActiveBeta Emerging Markets Equity UCITS ETF CLASS USD (Acc.) (GACB.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.DEGACB.DEDifference
Sharpe ratioReturn per unit of total volatility
2.71

—

—

Sortino ratioReturn per unit of downside risk
3.65

—

—

Omega ratioGain probability vs. loss probability

1.49

—

—

Calmar ratioReturn relative to maximum drawdown

4.51

—

—

Martin ratioReturn relative to average drawdown

16.28

—

—

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. GACB.DE - Sharpe Ratio Comparison

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Sharpe Ratios by Period

IBC3.DEGACB.DEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.71

—

—

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

—

—

Drawdowns

IBC3.DE vs. GACB.DE - Drawdown Comparison

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Drawdown Indicators

IBC3.DEGACB.DEDifference

Max Drawdown

Largest peak-to-trough decline

-31.89%

—

—

Max Drawdown (1Y)

Largest decline over 1 year

-10.42%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-19.08%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-21.95%

—

—

Current Drawdown

Current decline from peak

-2.52%

—

—

Average Drawdown

Average peak-to-trough decline

-7.84%

—

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.89%

—

—

Volatility

IBC3.DE vs. GACB.DE - Volatility Comparison

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Volatility by Period

IBC3.DEGACB.DEDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.06%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

14.60%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

17.37%

—

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.23%

—

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.42%

—

—

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

IBC3.DE has a 0.18% expense ratio, which is lower than GACB.DE's 0.49% expense ratio.

Dividends

IBC3.DE vs. GACB.DE - Dividend Comparison

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

PositionTTM20252024202320222021202020192018
GACB.DE
Goldman Sachs ActiveBeta Emerging Markets Equity UCITS ETF CLASS USD (Acc.)		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

IBC3.DE and GACB.DE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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 0.49% for GACB.DE.

IBC3.DE tracks MSCI Emerging Markets Investable Market (IMI), while GACB.DE tracks Goldman Sachs ActiveBeta Emerging Markets Equity. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.18% for IBC3.DE and 0.49% for GACB.DE.

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