IBCZ.DE vs. IS3N.DE
IBCZ.DE (iShares Edge MSCI World Multifactor UCITS ETF USD (Acc)) and IS3N.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) are both exchange-traded funds - IBCZ.DE is a Global Equities fund tracking the MSCI World Diversified Multiple-Factor, while IS3N.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market (IMI). Both are passively managed. Over the past 10 years, IBCZ.DE returned 11.45%/yr vs 10.00%/yr for IS3N.DE. A 0.68 correlation means they provide meaningful diversification when combined. IBCZ.DE charges 0.50%/yr vs 0.18%/yr for IS3N.DE.
Performance
IBCZ.DE vs. IS3N.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 lower than IS3N.DE's 25.82% return. Over the past 10 years, IBCZ.DE has outperformed IS3N.DE with an annualized return of 11.45%, while IS3N.DE has yielded a comparatively lower 10.00% annualized 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%
IS3N.DE
- 1D
- -1.45%
- 1M
- 5.25%
- YTD
- 25.82%
- 6M
- 27.45%
- 1Y
- 46.76%
- 3Y*
- 19.99%
- 5Y*
- 8.61%
- 10Y*
- 10.00%
IBCZ.DE vs. IS3N.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBCZ.DE iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) | 13.04% | 12.05% | 24.09% | 11.45% | -10.83% | 31.27% | 0.44% | 24.79% | -8.31% | 11.03% |
IS3N.DE iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 25.82% | 17.14% | 13.87% | 7.20% | -14.09% | 7.38% | 7.07% | 21.01% | -11.06% | 20.43% |
Correlation
The correlation between IBCZ.DE and IS3N.DE is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2015 | 0.68 |
The correlation between IBCZ.DE and IS3N.DE has been stable across timeframes, ranging from 0.59 to 0.68 - a consistent structural relationship.
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Return for Risk
IBCZ.DE vs. IS3N.DE — Risk / Return Rank
IBCZ.DE
IS3N.DE
IBCZ.DE vs. IS3N.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 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.
| IBCZ.DE | IS3N.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.49 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 5.23 | 4.42 | +0.81 |
| Martin ratioReturn relative to average drawdown | 20.97 | 16.00 | +4.96 |
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 | IS3N.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.42 | 2.69 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.53 | +0.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 0.55 | +0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.44 | +0.25 |
Drawdowns
IBCZ.DE vs. IS3N.DE - Drawdown Comparison
The maximum IBCZ.DE drawdown since its inception was -33.99%, roughly equal to the maximum IS3N.DE drawdown of -35.06%. Use the drawdown chart below to compare losses from any high point for IBCZ.DE and IS3N.DE.
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Drawdown Indicators
| IBCZ.DE | IS3N.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.99% | -35.06% | +1.07% |
Max Drawdown (1Y)Largest decline over 1 year | -5.29% | -10.52% | +5.23% |
Max Drawdown (3Y)Largest decline over 3 years | -19.98% | -19.17% | -0.81% |
Max Drawdown (5Y)Largest decline over 5 years | -19.98% | -22.01% | +2.03% |
Max Drawdown (10Y)Largest decline over 10 years | -33.99% | -32.51% | -1.48% |
Current DrawdownCurrent decline from peak | -0.60% | -2.49% | +1.89% |
Average DrawdownAverage peak-to-trough decline | -4.52% | -9.30% | +4.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.32% | 2.91% | -1.59% |
Volatility
IBCZ.DE vs. IS3N.DE - Volatility Comparison
The current volatility for iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) (IBCZ.DE) is 3.05%, while iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) has a volatility of 7.16%. This indicates that IBCZ.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
| IBCZ.DE | IS3N.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 7.16% | -4.11% |
Volatility (6M)Calculated over the trailing 6-month period | 8.16% | 14.69% | -6.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.42% | 17.32% | -5.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.11% | 16.19% | -2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.13% | 18.04% | -2.91% |
IBCZ.DE vs. IS3N.DE - Expense Ratio Comparison
IBCZ.DE has a 0.50% expense ratio, which is higher than IS3N.DE's 0.18% expense ratio.
Dividends
IBCZ.DE vs. IS3N.DE - Dividend Comparison
Neither IBCZ.DE nor IS3N.DE has paid dividends to shareholders.
Frequently Asked Questions
IBCZ.DE and IS3N.DE have a correlation of 0.66, 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 0.50% for IBCZ.DE.
IBCZ.DE is categorized as Global Equities, while IS3N.DE is Emerging Markets Equities. IBCZ.DE tracks MSCI World Diversified Multiple-Factor, while IS3N.DE tracks MSCI Emerging Markets Investable Market (IMI). Their fees differ too: 0.50% for IBCZ.DE and 0.18% for IS3N.DE.
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