IS02.DE vs. IS3C.DE

Last updated Jun 5, 2026

IS02.DE (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)) and IS3C.DE (iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist)) are both Emerging Markets Bonds funds from iShares - IS02.DE tracks the JP Morgan EMBI Global Core while IS3C.DE tracks the JP Morgan EMBI Global Core (EUR Hedged). Both are passively managed. Over the past 5 years, IS02.DE returned 2.88%/yr vs -3.40%/yr for IS3C.DE. A 0.54 correlation means they provide meaningful diversification when combined. IS02.DE charges 0.45%/yr vs 0.50%/yr for IS3C.DE.

Performance

IS02.DE vs. IS3C.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (IS02.DE) and iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (IS3C.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IS02.DE achieves a 2.97% return, which is significantly higher than IS3C.DE's -1.63% return.

IS02.DE

• 1D: 0.11%
• 1M: 1.71%
• YTD: 2.97%
• 6M: 2.72%
• 1Y: 9.38%
• 3Y*: 6.78%
• 5Y*: 2.88%
• 10Y*: —

IS3C.DE

• 1D: 0.23%
• 1M: 0.40%
• YTD: -1.63%
• 6M: -1.60%
• 1Y: 2.73%
• 3Y*: 2.01%
• 5Y*: -3.40%
• 10Y*: -0.58%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IS02.DE vs. IS3C.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IS02.DE iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)	2.97%	1.10%	11.83%	6.71%	-13.12%	5.72%	0.08%
IS3C.DE iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist)	-1.63%	5.32%	-1.72%	5.39%	-20.57%	-3.53%	3.15%

Correlation

The correlation between IS02.DE and IS3C.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	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Aug 17, 2020	0.54

The correlation between IS02.DE and IS3C.DE shifts across timeframes, from 0.38 (1 year) to 0.55 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

IS02.DE vs. IS3C.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IS02.DE

IS02.DE Risk / Return Rank: 52
IS02.DE Sharpe Ratio Rank: 46
IS02.DE Sortino Ratio Rank: 47
IS02.DE Omega Ratio Rank: 48
IS02.DE Calmar Ratio Rank: 63
IS02.DE Martin Ratio Rank: 53

IS3C.DE

IS3C.DE Risk / Return Rank: 16
IS3C.DE Sharpe Ratio Rank: 16
IS3C.DE Sortino Ratio Rank: 16
IS3C.DE Omega Ratio Rank: 15
IS3C.DE Calmar Ratio Rank: 15
IS3C.DE Martin Ratio Rank: 16

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IS02.DE vs. IS3C.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (IS02.DE) and iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (IS3C.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.

	IS02.DE	IS3C.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.57	0.44	+1.13
Sortino ratio: Return per unit of downside risk	2.31	0.70	+1.61
Omega ratio: Gain probability vs. loss probability	1.30	1.08	+0.21
Calmar ratio: Return relative to maximum drawdown	3.11	0.48	+2.63
Martin ratio: Return relative to average drawdown	8.98	1.52	+7.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IS02.DE vs. IS3C.DE - Sharpe Ratio Comparison

The current IS02.DE Sharpe Ratio is 1.57, which is higher than the IS3C.DE Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of IS02.DE and IS3C.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IS02.DE	IS3C.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.57	0.44	+1.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	-0.38	+0.71
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.06	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.00	+0.27

Drawdowns

IS02.DE vs. IS3C.DE - Drawdown Comparison

The maximum IS02.DE drawdown since its inception was -16.21%, smaller than the maximum IS3C.DE drawdown of -30.78%. Use the drawdown chart below to compare losses from any high point for IS02.DE and IS3C.DE.

Drawdown Indicators

	IS02.DE	IS3C.DE	Difference
Max Drawdown Largest peak-to-trough decline	-16.21%	-30.78%	+14.57%
Max Drawdown (1Y) Largest decline over 1 year	-3.00%	-5.62%	+2.62%
Max Drawdown (3Y) Largest decline over 3 years	-12.85%	-8.94%	-3.91%
Max Drawdown (5Y) Largest decline over 5 years	-16.21%	-30.47%	+14.26%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.78%	—
Current Drawdown Current decline from peak	0.00%	-17.90%	+17.90%
Average Drawdown Average peak-to-trough decline	-5.92%	-9.16%	+3.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	1.79%	-0.75%

Volatility

IS02.DE vs. IS3C.DE - Volatility Comparison

The current volatility for iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (IS02.DE) is 1.19%, while iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (IS3C.DE) has a volatility of 2.10%. This indicates that IS02.DE experiences smaller price fluctuations and is considered to be less risky than IS3C.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IS02.DE	IS3C.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	2.10%	-0.91%
Volatility (6M) Calculated over the trailing 6-month period	3.97%	5.14%	-1.17%
Volatility (1Y) Calculated over the trailing 1-year period	5.94%	6.18%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.53%	8.94%	-0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.34%	9.30%	-0.96%

IS02.DE vs. IS3C.DE - Expense Ratio Comparison

IS02.DE has a 0.45% expense ratio, which is lower than IS3C.DE's 0.50% expense ratio.

Dividends

IS02.DE vs. IS3C.DE - Dividend Comparison

Neither IS02.DE nor IS3C.DE has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IS02.DE iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IS3C.DE iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist)	0.00%	0.00%	0.00%	3.58%	5.39%	3.93%	3.85%	4.77%	5.76%	3.88%	5.34%	4.72%

Frequently Asked Questions

Can I hold both IS02.DE and IS3C.DE in my portfolio?

IS02.DE and IS3C.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.

Which ETF is better, IS02.DE or IS3C.DE?

On fees, IS02.DE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IS02.DE or IS3C.DE?

IS02.DE is cheaper with a 0.45% expense ratio, compared with 0.50% for IS3C.DE.

What is the main difference between IS02.DE and IS3C.DE?

IS02.DE tracks JP Morgan EMBI Global Core, while IS3C.DE tracks JP Morgan EMBI Global Core (EUR Hedged). Their fees differ too: 0.45% for IS02.DE and 0.50% for IS3C.DE.