IBC3.DE vs. H410.DE
IBC3.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF) and H410.DE (HSBC MSCI Emerging Markets UCITS ETF USD) are both Emerging Markets Equities funds - IBC3.DE tracks the MSCI Emerging Markets Investable Market (IMI) while H410.DE tracks the MSCI Emerging Markets. Both are passively managed. Over the past 5 years, IBC3.DE returned 7.44%/yr vs 6.91%/yr for H410.DE. With a 0.97 correlation, they move nearly in lockstep. IBC3.DE charges 0.18%/yr vs 0.15%/yr for H410.DE.
Performance
IBC3.DE vs. H410.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IBC3.DE having a 19.60% return and H410.DE slightly higher at 19.79%.
IBC3.DE
- 1D
- -0.48%
- 1M
- -5.80%
- 6M
- 12.05%
- YTD
- 19.60%
- 1Y
- 32.30%
- 3Y*
- 18.04%
- 5Y*
- 7.44%
- 10Y*
- —
H410.DE
- 1D
- -1.87%
- 1M
- -8.04%
- 6M
- 12.07%
- YTD
- 19.79%
- 1Y
- 34.11%
- 3Y*
- 18.31%
- 5Y*
- 6.91%
- 10Y*
- 8.22%
IBC3.DE vs. H410.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IBC3.DE iShares Core MSCI Emerging Markets IMI UCITS ETF | 19.60% | 17.06% | 13.96% | 7.10% | -13.77% | 6.90% | 7.20% | 21.13% | -27.74% |
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD | 19.79% | 18.65% | 13.95% | 4.67% | -13.87% | 4.04% | 6.95% | 21.14% | -10.63% |
Correlation
The correlation between IBC3.DE and H410.DE is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2018 | 0.97 |
The correlation between IBC3.DE and H410.DE shifts across timeframes, from 0.86 (1 year) to 0.97 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBC3.DE vs. H410.DE — Risk / Return Rank
IBC3.DE
H410.DE
IBC3.DE vs. H410.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 HSBC MSCI Emerging Markets UCITS ETF USD (H410.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IBC3.DE | H410.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.31 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.96 | 3.17 | -0.21 |
| Martin ratioReturn relative to average drawdown | 8.92 | 9.64 | -0.73 |
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Drawdowns
IBC3.DE vs. H410.DE - Drawdown Comparison
The maximum IBC3.DE drawdown since its inception was -40.21%, roughly equal to the maximum H410.DE drawdown of -41.02%. Use the drawdown chart below to compare losses from any high point for IBC3.DE and H410.DE.
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Drawdown Indicators
| IBC3.DE | H410.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.21% | -41.02% | +0.81% |
Max Drawdown (1Y)Largest decline over 1 year | -10.87% | -10.71% | -0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -19.06% | -19.01% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -22.10% | -22.77% | +0.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.62% | — |
Current DrawdownCurrent decline from peak | -10.06% | -10.71% | +0.65% |
Average DrawdownAverage peak-to-trough decline | -12.90% | -13.30% | +0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.61% | 3.53% | +0.08% |
Volatility
IBC3.DE vs. H410.DE - Volatility Comparison
iShares Core MSCI Emerging Markets IMI UCITS ETF (IBC3.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE) have volatilities of 8.55% and 8.22%, 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.
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Volatility by Period
| IBC3.DE | H410.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.55% | 8.22% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 19.51% | 17.70% | +1.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.83% | 20.15% | +1.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.38% | 17.18% | +0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.02% | 18.31% | +1.71% |
IBC3.DE vs. H410.DE - Expense Ratio Comparison
IBC3.DE has a 0.18% expense ratio, which is higher than H410.DE's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBC3.DE vs. H410.DE - Dividend Comparison
IBC3.DE's dividend yield for the trailing twelve months is around 1.69%, less than H410.DE's 1.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD | 1.71% | 2.00% | 2.40% | 2.59% | 3.11% | 2.00% | 1.69% | 2.03% | 2.20% | 1.62% | 1.71% | 2.28% |
IBC3.DE iShares Core MSCI Emerging Markets IMI UCITS ETF | 1.69% | 1.97% | 2.22% | 2.52% | 3.25% | 1.84% | 1.81% | 2.30% | 1.79% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBC3.DE and H410.DE have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H410.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H410.DE is cheaper with a 0.15% expense ratio, compared with 0.18% for IBC3.DE.
IBC3.DE tracks MSCI Emerging Markets Investable Market (IMI), while H410.DE tracks MSCI Emerging Markets. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.18% for IBC3.DE and 0.15% for H410.DE.
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