IS3C.DE vs. ZPR6.DE
IS3C.DE (iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist)) and ZPR6.DE (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc) are both Emerging Markets Bonds funds - IS3C.DE tracks the JP Morgan EMBI Global Core (EUR Hedged) while ZPR6.DE tracks the ICE BofAML 0-5 EM USD Government Bond (EUR Hedged). Both are passively managed. Over the past 5 years, IS3C.DE returned -3.40%/yr vs 0.23%/yr for ZPR6.DE. A 0.75 correlation means they provide meaningful diversification when combined. IS3C.DE charges 0.50%/yr vs 0.47%/yr for ZPR6.DE.
Performance
IS3C.DE vs. ZPR6.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS3C.DE achieves a -1.63% return, which is significantly lower than ZPR6.DE's 0.15% return.
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%
ZPR6.DE
- 1D
- 0.04%
- 1M
- -0.09%
- YTD
- 0.15%
- 6M
- 0.47%
- 1Y
- 3.13%
- 3Y*
- 4.05%
- 5Y*
- 0.23%
- 10Y*
- —
IS3C.DE vs. ZPR6.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% | 3.22% | 3.00% |
ZPR6.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc | 0.15% | 5.62% | 3.09% | 3.99% | -9.09% | -1.17% | 0.69% | -0.12% |
Correlation
The correlation between IS3C.DE and ZPR6.DE is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2019 | 0.75 |
The correlation between IS3C.DE and ZPR6.DE has been stable across timeframes, ranging from 0.72 to 0.79 - a consistent structural relationship.
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Return for Risk
IS3C.DE vs. ZPR6.DE — Risk / Return Rank
IS3C.DE
ZPR6.DE
IS3C.DE vs. ZPR6.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (IS3C.DE) and SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc (ZPR6.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.
| IS3C.DE | ZPR6.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.25 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | 1.74 | -1.25 |
| Martin ratioReturn relative to average drawdown | 1.52 | 7.22 | -5.70 |
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
| IS3C.DE | ZPR6.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.44 | 1.26 | -0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.38 | 0.05 | -0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.06 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.00 | 0.07 | -0.06 |
Drawdowns
IS3C.DE vs. ZPR6.DE - Drawdown Comparison
The maximum IS3C.DE drawdown since its inception was -30.78%, which is greater than ZPR6.DE's maximum drawdown of -13.50%. Use the drawdown chart below to compare losses from any high point for IS3C.DE and ZPR6.DE.
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Drawdown Indicators
| IS3C.DE | ZPR6.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.78% | -13.50% | -17.28% |
Max Drawdown (1Y)Largest decline over 1 year | -5.62% | -1.80% | -3.82% |
Max Drawdown (3Y)Largest decline over 3 years | -8.94% | -1.80% | -7.14% |
Max Drawdown (5Y)Largest decline over 5 years | -30.47% | -13.50% | -16.97% |
Max Drawdown (10Y)Largest decline over 10 years | -30.78% | — | — |
Current DrawdownCurrent decline from peak | -17.90% | -0.37% | -17.53% |
Average DrawdownAverage peak-to-trough decline | -9.16% | -4.62% | -4.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 0.43% | +1.36% |
Volatility
IS3C.DE vs. ZPR6.DE - Volatility Comparison
iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (IS3C.DE) has a higher volatility of 2.10% compared to SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) Acc (ZPR6.DE) at 0.61%. This indicates that IS3C.DE's price experiences larger fluctuations and is considered to be riskier than ZPR6.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS3C.DE | ZPR6.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.10% | 0.61% | +1.49% |
Volatility (6M)Calculated over the trailing 6-month period | 5.14% | 2.11% | +3.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.18% | 2.48% | +3.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.94% | 4.41% | +4.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.30% | 5.13% | +4.17% |
IS3C.DE vs. ZPR6.DE - Expense Ratio Comparison
IS3C.DE has a 0.50% expense ratio, which is higher than ZPR6.DE's 0.47% expense ratio.
Dividends
IS3C.DE vs. ZPR6.DE - Dividend Comparison
Neither IS3C.DE nor ZPR6.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ZPR6.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (EUR Hedged) 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% |
Frequently Asked Questions
IS3C.DE and ZPR6.DE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPR6.DE is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPR6.DE is cheaper with a 0.47% expense ratio, compared with 0.50% for IS3C.DE.
IS3C.DE tracks JP Morgan EMBI Global Core (EUR Hedged), while ZPR6.DE tracks ICE BofAML 0-5 EM USD Government Bond (EUR Hedged). They also come from different issuers: iShares and State Street. Their fees differ too: 0.50% for IS3C.DE and 0.47% for ZPR6.DE.
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