IBC4.DE vs. AE5A.DE
IBC4.DE (iShares MSCI South Africa UCITS ETF USD (Acc)) and AE5A.DE (Amundi Core MSCI Emerging Markets Swap UCITS ETF Dist) are both Emerging Markets Equities funds - IBC4.DE tracks the MSCI South Africa Capped Index while AE5A.DE tracks the MSCI Emerging Markets Index. Both are passively managed. Over the past 3 years, IBC4.DE returned 22.90%/yr vs 19.74%/yr for AE5A.DE. A 0.63 correlation means they provide meaningful diversification when combined. IBC4.DE charges 0.65%/yr vs 0.14%/yr for AE5A.DE.
Performance
IBC4.DE vs. AE5A.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBC4.DE achieves a -1.83% return, which is significantly lower than AE5A.DE's 24.89% return.
IBC4.DE
- 1D
- 0.65%
- 1M
- -0.00%
- 6M
- -2.26%
- YTD
- -1.83%
- 1Y
- 32.92%
- 3Y*
- 22.90%
- 5Y*
- 11.49%
- 10Y*
- 7.19%
AE5A.DE
- 1D
- 0.00%
- 1M
- -3.48%
- 6M
- 22.41%
- YTD
- 24.89%
- 1Y
- 42.78%
- 3Y*
- 19.74%
- 5Y*
- —
- 10Y*
- —
IBC4.DE vs. AE5A.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBC4.DE iShares MSCI South Africa UCITS ETF USD (Acc) | -1.83% | 57.35% | 14.83% | 3.20% |
AE5A.DE Amundi Core MSCI Emerging Markets Swap UCITS ETF Dist | 24.89% | 19.26% | 14.36% | 4.85% |
Correlation
The correlation between IBC4.DE and AE5A.DE is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Mar 24, 2023 | 0.63 |
The correlation between IBC4.DE and AE5A.DE has been stable across timeframes, ranging from 0.58 to 0.63 - a consistent structural relationship.
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Return for Risk
IBC4.DE vs. AE5A.DE — Risk / Return Rank
IBC4.DE
AE5A.DE
IBC4.DE vs. AE5A.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Africa UCITS ETF USD (Acc) (IBC4.DE) and Amundi Core MSCI Emerging Markets Swap UCITS ETF Dist (AE5A.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.
| IBC4.DE | AE5A.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.40 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 4.15 | -2.63 |
| Martin ratioReturn relative to average drawdown | 3.57 | 13.73 | -10.16 |
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Drawdowns
IBC4.DE vs. AE5A.DE - Drawdown Comparison
The maximum IBC4.DE drawdown since its inception was -55.48%, which is greater than AE5A.DE's maximum drawdown of -19.22%. Use the drawdown chart below to compare losses from any high point for IBC4.DE and AE5A.DE.
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Drawdown Indicators
| IBC4.DE | AE5A.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.48% | -19.22% | -36.26% |
Max Drawdown (1Y)Largest decline over 1 year | -21.54% | -10.34% | -11.20% |
Max Drawdown (3Y)Largest decline over 3 years | -21.54% | -19.22% | -2.32% |
Max Drawdown (5Y)Largest decline over 5 years | -29.74% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -55.48% | — | — |
Current DrawdownCurrent decline from peak | -16.46% | -6.95% | -9.51% |
Average DrawdownAverage peak-to-trough decline | -17.44% | -3.05% | -14.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.21% | 3.13% | +6.08% |
Volatility
IBC4.DE vs. AE5A.DE - Volatility Comparison
The current volatility for iShares MSCI South Africa UCITS ETF USD (Acc) (IBC4.DE) is 8.06%, while Amundi Core MSCI Emerging Markets Swap UCITS ETF Dist (AE5A.DE) has a volatility of 9.06%. This indicates that IBC4.DE experiences smaller price fluctuations and is considered to be less risky than AE5A.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBC4.DE | AE5A.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.06% | 9.06% | -1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 25.34% | 17.07% | +8.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.76% | 19.66% | +10.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.63% | 16.46% | +9.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.84% | 16.46% | +11.38% |
IBC4.DE vs. AE5A.DE - Expense Ratio Comparison
IBC4.DE has a 0.65% expense ratio, which is higher than AE5A.DE's 0.14% expense ratio.
Dividends
IBC4.DE vs. AE5A.DE - Dividend Comparison
IBC4.DE has not paid dividends to shareholders, while AE5A.DE's dividend yield for the trailing twelve months is around 1.72%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AE5A.DE Amundi Core MSCI Emerging Markets Swap UCITS ETF Dist | 1.72% | 2.15% | 3.38% | 3.80% |
IBC4.DE iShares MSCI South Africa UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBC4.DE and AE5A.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AE5A.DE is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AE5A.DE is cheaper with a 0.14% expense ratio, compared with 0.65% for IBC4.DE.
IBC4.DE tracks MSCI South Africa Capped Index, while AE5A.DE tracks MSCI Emerging Markets Index. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.65% for IBC4.DE and 0.14% for AE5A.DE.
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