IGLN.L vs. IS3N.DE
IGLN.L (iShares Physical Gold ETC) and IS3N.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) are both exchange-traded funds - IGLN.L is a Gold fund tracking the LBMA Gold Price, 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, IGLN.L returned 12.45%/yr vs 10.58%/yr for IS3N.DE. At a 0.14 correlation, their price movements are largely independent. IGLN.L charges 0.12%/yr vs 0.18%/yr for IS3N.DE.
Performance
IGLN.L vs. IS3N.DE - Performance Comparison
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Different Trading Currencies
IGLN.L is traded in USD, while IS3N.DE is traded in EUR. To make them comparable, the IS3N.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IGLN.L achieves a -2.16% return, which is significantly lower than IS3N.DE's 22.95% return. Over the past 10 years, IGLN.L has outperformed IS3N.DE with an annualized return of 12.45%, while IS3N.DE has yielded a comparatively lower 10.58% annualized return.
IGLN.L
- 1D
- 3.37%
- 1M
- -10.03%
- YTD
- -2.16%
- 6M
- -1.54%
- 1Y
- 23.07%
- 3Y*
- 29.33%
- 5Y*
- 17.43%
- 10Y*
- 12.45%
IS3N.DE
- 1D
- 3.01%
- 1M
- 0.59%
- YTD
- 22.95%
- 6M
- 25.85%
- 1Y
- 45.23%
- 3Y*
- 21.58%
- 5Y*
- 7.47%
- 10Y*
- 10.58%
IGLN.L vs. IS3N.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGLN.L iShares Physical Gold ETC | -2.16% | 64.93% | 26.14% | 13.44% | -0.09% | -4.03% | 24.16% | 18.30% | -1.33% | 11.69% |
IS3N.DE iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 22.95% | 32.24% | 7.37% | 10.58% | -18.59% | -1.36% | 17.53% | 18.43% | -15.24% | 37.46% |
Correlation
The correlation between IGLN.L and IS3N.DE is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2014 | 0.14 |
Over the past year, IGLN.L and IS3N.DE have become more correlated (0.38) than their long-term average of 0.14, meaning their price movements have been converging.
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Return for Risk
IGLN.L vs. IS3N.DE — Risk / Return Rank
IGLN.L
IS3N.DE
IGLN.L vs. IS3N.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (IGLN.L) 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.
| IGLN.L | IS3N.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.27 | ||
| Sortino ratioReturn per unit of downside risk | -1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.40 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 3.38 | -2.33 |
| Martin ratioReturn relative to average drawdown | 3.27 | 11.93 | -8.66 |
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Drawdowns
IGLN.L vs. IS3N.DE - Drawdown Comparison
The maximum IGLN.L drawdown since its inception was -45.25%, which is greater than IS3N.DE's maximum drawdown of -39.05%. Use the drawdown chart below to compare losses from any high point for IGLN.L and IS3N.DE.
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Drawdown Indicators
| IGLN.L | IS3N.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.25% | -39.05% | -6.20% |
Max Drawdown (1Y)Largest decline over 1 year | -23.02% | -12.72% | -10.30% |
Max Drawdown (3Y)Largest decline over 3 years | -23.02% | -18.38% | -4.64% |
Max Drawdown (5Y)Largest decline over 5 years | -23.02% | -35.31% | +12.29% |
Max Drawdown (10Y)Largest decline over 10 years | -23.02% | -39.05% | +16.03% |
Current DrawdownCurrent decline from peak | -20.43% | -3.75% | -16.68% |
Average DrawdownAverage peak-to-trough decline | -19.72% | -14.03% | -5.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.41% | 3.61% | +3.80% |
Volatility
IGLN.L vs. IS3N.DE - Volatility Comparison
iShares Physical Gold ETC (IGLN.L) and iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) have volatilities of 7.69% and 8.04%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGLN.L | IS3N.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.69% | 8.04% | -0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 22.45% | 17.00% | +5.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.45% | 19.32% | +6.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.55% | 18.33% | -0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.63% | 19.28% | -3.65% |
IGLN.L vs. IS3N.DE - Expense Ratio Comparison
IGLN.L has a 0.12% expense ratio, which is lower than IS3N.DE's 0.18% 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
IGLN.L vs. IS3N.DE - Dividend Comparison
Neither IGLN.L nor IS3N.DE has paid dividends to shareholders.
Frequently Asked Questions
IGLN.L and IS3N.DE have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLN.L is cheaper with a 0.12% expense ratio, compared with 0.18% for IS3N.DE.
IGLN.L is categorized as Gold, while IS3N.DE is Emerging Markets Equities. IGLN.L tracks LBMA Gold Price, while IS3N.DE tracks MSCI Emerging Markets Investable Market (IMI). Their fees differ too: 0.12% for IGLN.L and 0.18% for IS3N.DE.
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