IBC4.DE vs. IS3N.DE
IBC4.DE (iShares MSCI South Africa UCITS ETF USD (Acc)) and IS3N.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) are both Emerging Markets Equities funds from iShares - IBC4.DE tracks the MSCI South Africa Capped Index while IS3N.DE tracks the MSCI Emerging Markets Investable Market Index (IMI). Both are passively managed. Over the past 10 years, IBC4.DE returned 7.19%/yr vs 9.80%/yr for IS3N.DE. A 0.73 correlation means they provide meaningful diversification when combined. IBC4.DE charges 0.65%/yr vs 0.18%/yr for IS3N.DE.
Performance
IBC4.DE vs. IS3N.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 IS3N.DE's 26.15% return. Over the past 10 years, IBC4.DE has underperformed IS3N.DE with an annualized return of 7.19%, while IS3N.DE has yielded a comparatively higher 9.80% annualized 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%
IS3N.DE
- 1D
- 2.11%
- 1M
- -1.18%
- 6M
- 22.85%
- YTD
- 26.15%
- 1Y
- 42.71%
- 3Y*
- 19.59%
- 5Y*
- 8.39%
- 10Y*
- 9.80%
IBC4.DE vs. IS3N.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBC4.DE iShares MSCI South Africa UCITS ETF USD (Acc) | -1.83% | 57.35% | 14.83% | -3.10% | 1.72% | 12.68% | -11.83% | 12.46% | -21.79% | 19.74% |
IS3N.DE iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 26.15% | 17.14% | 13.88% | 7.20% | -13.85% | 7.09% | 7.07% | 20.99% | -11.06% | 20.43% |
Correlation
The correlation between IBC4.DE and IS3N.DE is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2014 | 0.73 |
The correlation between IBC4.DE and IS3N.DE shifts across timeframes, from 0.60 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBC4.DE vs. IS3N.DE — Risk / Return Rank
IBC4.DE
IS3N.DE
IBC4.DE vs. IS3N.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 iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.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 | IS3N.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.13 | ||
| Sortino ratioReturn per unit of downside risk | -1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.40 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 4.04 | -2.52 |
| Martin ratioReturn relative to average drawdown | 3.57 | 13.47 | -9.91 |
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Drawdowns
IBC4.DE vs. IS3N.DE - Drawdown Comparison
The maximum IBC4.DE drawdown since its inception was -55.48%, which is greater than IS3N.DE's maximum drawdown of -35.06%. Use the drawdown chart below to compare losses from any high point for IBC4.DE and IS3N.DE.
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Drawdown Indicators
| IBC4.DE | IS3N.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.48% | -35.06% | -20.42% |
Max Drawdown (1Y)Largest decline over 1 year | -21.54% | -10.52% | -11.02% |
Max Drawdown (3Y)Largest decline over 3 years | -21.54% | -19.18% | -2.36% |
Max Drawdown (5Y)Largest decline over 5 years | -29.74% | -21.99% | -7.75% |
Max Drawdown (10Y)Largest decline over 10 years | -55.48% | -32.51% | -22.97% |
Current DrawdownCurrent decline from peak | -16.46% | -4.56% | -11.90% |
Average DrawdownAverage peak-to-trough decline | -17.44% | -9.24% | -8.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.21% | 3.16% | +6.05% |
Volatility
IBC4.DE vs. IS3N.DE - Volatility Comparison
The current volatility for iShares MSCI South Africa UCITS ETF USD (Acc) (IBC4.DE) is 8.06%, while iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) has a volatility of 8.89%. This indicates that IBC4.DE experiences smaller price fluctuations and is considered to be less risky than IS3N.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 | IS3N.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.06% | 8.89% | -0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 25.34% | 16.69% | +8.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.76% | 19.07% | +10.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.63% | 16.62% | +9.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.84% | 18.15% | +9.69% |
IBC4.DE vs. IS3N.DE - Expense Ratio Comparison
IBC4.DE has a 0.65% expense ratio, which is higher than IS3N.DE's 0.18% expense ratio.
Dividends
IBC4.DE vs. IS3N.DE - Dividend Comparison
Neither IBC4.DE nor IS3N.DE has paid dividends to shareholders.
Frequently Asked Questions
IBC4.DE and IS3N.DE have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS3N.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS3N.DE is cheaper with a 0.18% expense ratio, compared with 0.65% for IBC4.DE.
IBC4.DE tracks MSCI South Africa Capped Index, while IS3N.DE tracks MSCI Emerging Markets Investable Market Index (IMI). Their fees differ too: 0.65% for IBC4.DE and 0.18% for IS3N.DE.
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