IS3M.DE vs. IS3L.DE
IS3M.DE (iShares € Ultrashort Bond UCITS ETF) and IS3L.DE (iShares $ Ultrashort Bond UCITS ETF USD (Dist)) are both Ultrashort Bond funds from iShares - IS3M.DE tracks the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR) while IS3L.DE tracks the iBoxx USD Liquid Investment Grade Ultrashort Index. Both are passively managed. Over the past 10 years, IS3M.DE returned 1.03%/yr vs 2.43%/yr for IS3L.DE. At a 0.01 correlation, their price movements are largely independent. Both charge a 0.09% expense ratio.
Performance
IS3M.DE vs. IS3L.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS3M.DE achieves a 1.16% return, which is significantly lower than IS3L.DE's 4.99% return. Over the past 10 years, IS3M.DE has underperformed IS3L.DE with an annualized return of 1.03%, while IS3L.DE has yielded a comparatively higher 2.43% annualized return.
IS3M.DE
- 1D
- -0.03%
- 1M
- 0.24%
- 6M
- 1.01%
- YTD
- 1.16%
- 1Y
- 2.14%
- 3Y*
- 3.28%
- 5Y*
- 2.16%
- 10Y*
- 1.03%
IS3L.DE
- 1D
- 0.14%
- 1M
- 1.74%
- 6M
- 3.89%
- YTD
- 4.99%
- 1Y
- 5.75%
- 3Y*
- 4.47%
- 5Y*
- 4.49%
- 10Y*
- 2.43%
IS3M.DE vs. IS3L.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS3M.DE iShares € Ultrashort Bond UCITS ETF | 1.16% | 2.60% | 4.13% | 3.42% | -0.29% | -0.36% | 0.09% | 0.34% | -0.62% | -0.09% |
IS3L.DE iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 4.99% | -7.06% | 11.88% | 1.83% | 7.62% | 8.58% | -7.79% | 5.65% | 6.82% | -10.84% |
Correlation
The correlation between IS3M.DE and IS3L.DE is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2013 | 0.01 |
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Return for Risk
IS3M.DE vs. IS3L.DE — Risk / Return Rank
IS3M.DE
IS3L.DE
IS3M.DE vs. IS3L.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Ultrashort Bond UCITS ETF (IS3M.DE) and iShares $ Ultrashort Bond UCITS ETF USD (Dist) (IS3L.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.
| IS3M.DE | IS3L.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.73 | ||
| Sortino ratioReturn per unit of downside risk | +2.71 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.16 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 7.19 | 1.72 | +5.46 |
| Martin ratioReturn relative to average drawdown | 44.37 | 4.14 | +40.23 |
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Drawdowns
IS3M.DE vs. IS3L.DE - Drawdown Comparison
The maximum IS3M.DE drawdown since its inception was -3.80%, smaller than the maximum IS3L.DE drawdown of -28.17%. Use the drawdown chart below to compare losses from any high point for IS3M.DE and IS3L.DE.
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Drawdown Indicators
| IS3M.DE | IS3L.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.80% | -28.17% | +24.37% |
Max Drawdown (1Y)Largest decline over 1 year | -0.30% | -3.32% | +3.02% |
Max Drawdown (3Y)Largest decline over 3 years | -0.47% | -11.38% | +10.91% |
Max Drawdown (5Y)Largest decline over 5 years | -1.13% | -11.38% | +10.25% |
Max Drawdown (10Y)Largest decline over 10 years | -3.80% | -19.28% | +15.48% |
Current DrawdownCurrent decline from peak | -0.03% | -4.75% | +4.72% |
Average DrawdownAverage peak-to-trough decline | -0.28% | -9.18% | +8.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 1.39% | -1.34% |
Volatility
IS3M.DE vs. IS3L.DE - Volatility Comparison
The current volatility for iShares € Ultrashort Bond UCITS ETF (IS3M.DE) is 0.29%, while iShares $ Ultrashort Bond UCITS ETF USD (Dist) (IS3L.DE) has a volatility of 1.44%. This indicates that IS3M.DE experiences smaller price fluctuations and is considered to be less risky than IS3L.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS3M.DE | IS3L.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.29% | 1.44% | -1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 0.65% | 4.22% | -3.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.79% | 6.05% | -5.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.77% | 7.42% | -6.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.11% | 10.54% | -9.43% |
IS3M.DE vs. IS3L.DE - Expense Ratio Comparison
Both IS3M.DE and IS3L.DE have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IS3M.DE vs. IS3L.DE - Dividend Comparison
IS3M.DE's dividend yield for the trailing twelve months is around 2.33%, less than IS3L.DE's 4.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS3L.DE iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 4.24% | 4.74% | 5.44% | 5.05% | 1.59% | 0.47% | 1.64% | 2.71% | 2.19% | 1.45% | 0.97% | 0.72% |
IS3M.DE iShares € Ultrashort Bond UCITS ETF | 2.33% | 2.74% | 3.80% | 2.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.13% |
Frequently Asked Questions
IS3M.DE and IS3L.DE have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.09% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IS3M.DE and IS3L.DE have the same expense ratio: 0.09% per year.
IS3M.DE tracks Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR), while IS3L.DE tracks iBoxx USD Liquid Investment Grade Ultrashort Index.
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