IBCZ.DE vs. CSY9.DE
IBCZ.DE (iShares Edge MSCI World Multifactor UCITS ETF USD (Acc)) and CSY9.DE (CSIF (IE) MSCI World ESG Leaders Minimum Volatility Blue UCITS ETF B USD) are both Global Equities funds - IBCZ.DE tracks the MSCI World Diversified Multiple-Factor while CSY9.DE tracks the MSCI World ESG Leaders Minimum Volatility. Both are passively managed. Over the past 5 years, IBCZ.DE returned 12.00%/yr vs 6.22%/yr for CSY9.DE. A 0.70 correlation means they provide meaningful diversification when combined. IBCZ.DE charges 0.50%/yr vs 0.25%/yr for CSY9.DE.
Performance
IBCZ.DE vs. CSY9.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBCZ.DE achieves a 13.04% return, which is significantly higher than CSY9.DE's 3.19% return.
IBCZ.DE
- 1D
- -0.16%
- 1M
- 5.84%
- YTD
- 13.04%
- 6M
- 13.70%
- 1Y
- 27.80%
- 3Y*
- 18.64%
- 5Y*
- 12.00%
- 10Y*
- 11.45%
CSY9.DE
- 1D
- 0.16%
- 1M
- 2.99%
- YTD
- 3.19%
- 6M
- 3.34%
- 1Y
- 3.09%
- 3Y*
- 6.65%
- 5Y*
- 6.22%
- 10Y*
- —
IBCZ.DE vs. CSY9.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBCZ.DE iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) | 13.04% | 12.05% | 24.09% | 11.45% | -10.83% | 31.27% | 11.35% |
CSY9.DE CSIF (IE) MSCI World ESG Leaders Minimum Volatility Blue UCITS ETF B USD | 3.19% | -0.67% | 16.05% | 5.76% | -5.25% | 23.30% | 2.67% |
Correlation
The correlation between IBCZ.DE and CSY9.DE is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jul 28, 2020 | 0.70 |
The correlation between IBCZ.DE and CSY9.DE shifts across timeframes, from 0.54 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBCZ.DE vs. CSY9.DE — Risk / Return Rank
IBCZ.DE
CSY9.DE
IBCZ.DE vs. CSY9.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) (IBCZ.DE) and CSIF (IE) MSCI World ESG Leaders Minimum Volatility Blue UCITS ETF B USD (CSY9.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.
| IBCZ.DE | CSY9.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.04 | ||
| Sortino ratioReturn per unit of downside risk | +2.83 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.07 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 5.23 | 0.69 | +4.55 |
| Martin ratioReturn relative to average drawdown | 20.97 | 1.54 | +19.43 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBCZ.DE | CSY9.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.42 | 0.38 | +2.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.51 | +0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.61 | +0.08 |
Drawdowns
IBCZ.DE vs. CSY9.DE - Drawdown Comparison
The maximum IBCZ.DE drawdown since its inception was -33.99%, which is greater than CSY9.DE's maximum drawdown of -13.92%. Use the drawdown chart below to compare losses from any high point for IBCZ.DE and CSY9.DE.
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Drawdown Indicators
| IBCZ.DE | CSY9.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.99% | -13.92% | -20.07% |
Max Drawdown (1Y)Largest decline over 1 year | -5.29% | -4.48% | -0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -19.98% | -13.92% | -6.06% |
Max Drawdown (5Y)Largest decline over 5 years | -19.98% | -13.92% | -6.06% |
Max Drawdown (10Y)Largest decline over 10 years | -33.99% | — | — |
Current DrawdownCurrent decline from peak | -0.60% | -2.72% | +2.12% |
Average DrawdownAverage peak-to-trough decline | -4.52% | -3.70% | -0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.32% | 2.00% | -0.68% |
Volatility
IBCZ.DE vs. CSY9.DE - Volatility Comparison
iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) (IBCZ.DE) has a higher volatility of 3.05% compared to CSIF (IE) MSCI World ESG Leaders Minimum Volatility Blue UCITS ETF B USD (CSY9.DE) at 2.09%. This indicates that IBCZ.DE's price experiences larger fluctuations and is considered to be riskier than CSY9.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBCZ.DE | CSY9.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 2.09% | +0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 8.16% | 5.48% | +2.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.42% | 8.07% | +3.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.11% | 12.03% | +2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.13% | 11.91% | +3.22% |
IBCZ.DE vs. CSY9.DE - Expense Ratio Comparison
IBCZ.DE has a 0.50% expense ratio, which is higher than CSY9.DE's 0.25% expense ratio.
Dividends
IBCZ.DE vs. CSY9.DE - Dividend Comparison
Neither IBCZ.DE nor CSY9.DE has paid dividends to shareholders.
Frequently Asked Questions
IBCZ.DE and CSY9.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSY9.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSY9.DE is cheaper with a 0.25% expense ratio, compared with 0.50% for IBCZ.DE.
IBCZ.DE tracks MSCI World Diversified Multiple-Factor, while CSY9.DE tracks MSCI World ESG Leaders Minimum Volatility. They also come from different issuers: iShares and Credit Suisse. Their fees differ too: 0.50% for IBCZ.DE and 0.25% for CSY9.DE.
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