IBC3.DE vs. VGEM.DE
IBC3.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF) and VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both exchange-traded funds - IBC3.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market (IMI), while VGEM.DE is a Emerging Markets Bonds fund tracking the Bloomberg EM USD Sovereign + Quasi-Sov. Both are passively managed. Over the past 5 years, IBC3.DE returned 7.44%/yr vs 2.77%/yr for VGEM.DE. At a 0.29 correlation, their price movements are largely independent. IBC3.DE charges 0.18%/yr vs 0.25%/yr for VGEM.DE.
Performance
IBC3.DE vs. VGEM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBC3.DE achieves a 19.60% return, which is significantly higher than VGEM.DE's 4.30% return.
IBC3.DE
- 1D
- -0.48%
- 1M
- -5.80%
- 6M
- 12.05%
- YTD
- 19.60%
- 1Y
- 32.30%
- 3Y*
- 18.04%
- 5Y*
- 7.44%
- 10Y*
- —
VGEM.DE
- 1D
- 0.08%
- 1M
- 0.67%
- 6M
- 2.91%
- YTD
- 4.30%
- 1Y
- 9.57%
- 3Y*
- 7.30%
- 5Y*
- 2.77%
- 10Y*
- —
IBC3.DE vs. VGEM.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% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 4.30% | -0.84% | 12.54% | 5.71% | -10.03% | 6.47% | -3.40% | 16.11% | 6.62% |
Correlation
The correlation between IBC3.DE and VGEM.DE is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2018 | 0.29 |
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Return for Risk
IBC3.DE vs. VGEM.DE — Risk / Return Rank
IBC3.DE
VGEM.DE
IBC3.DE vs. VGEM.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 Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.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 | VGEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.30 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.96 | 3.21 | -0.26 |
| Martin ratioReturn relative to average drawdown | 8.92 | 8.93 | -0.01 |
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Drawdowns
IBC3.DE vs. VGEM.DE - Drawdown Comparison
The maximum IBC3.DE drawdown since its inception was -40.21%, which is greater than VGEM.DE's maximum drawdown of -19.64%. Use the drawdown chart below to compare losses from any high point for IBC3.DE and VGEM.DE.
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Drawdown Indicators
| IBC3.DE | VGEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.21% | -19.64% | -20.57% |
Max Drawdown (1Y)Largest decline over 1 year | -10.87% | -2.97% | -7.90% |
Max Drawdown (3Y)Largest decline over 3 years | -19.06% | -11.92% | -7.14% |
Max Drawdown (5Y)Largest decline over 5 years | -22.10% | -12.13% | -9.97% |
Current DrawdownCurrent decline from peak | -10.06% | -1.41% | -8.65% |
Average DrawdownAverage peak-to-trough decline | -12.90% | -5.88% | -7.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.61% | 1.07% | +2.54% |
Volatility
IBC3.DE vs. VGEM.DE - Volatility Comparison
iShares Core MSCI Emerging Markets IMI UCITS ETF (IBC3.DE) has a higher volatility of 8.55% compared to Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) at 1.33%. This indicates that IBC3.DE's price experiences larger fluctuations and is considered to be riskier than VGEM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBC3.DE | VGEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.55% | 1.33% | +7.22% |
Volatility (6M)Calculated over the trailing 6-month period | 19.51% | 4.05% | +15.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.83% | 6.08% | +15.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.38% | 7.90% | +9.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.02% | 8.75% | +11.27% |
IBC3.DE vs. VGEM.DE - Expense Ratio Comparison
IBC3.DE has a 0.18% expense ratio, which is lower than VGEM.DE's 0.25% expense ratio. Despite the difference, 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. VGEM.DE - Dividend Comparison
IBC3.DE's dividend yield for the trailing twelve months is around 1.69%, less than VGEM.DE's 5.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.76% | 6.30% | 5.65% | 5.56% | 5.08% | 3.73% | 4.53% | 4.32% | 4.51% | 0.80% |
Frequently Asked Questions
IBC3.DE and VGEM.DE have a correlation of 0.27, 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 0.25% for VGEM.DE.
IBC3.DE is categorized as Emerging Markets Equities, while VGEM.DE is Emerging Markets Bonds. IBC3.DE tracks MSCI Emerging Markets Investable Market (IMI), while VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.18% for IBC3.DE and 0.25% for VGEM.DE.
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