IS3N.DE vs. ERNX.DE
IS3N.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) and ERNX.DE (iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating) are both exchange-traded funds - IS3N.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market (IMI), while ERNX.DE is a Ultrashort Bond fund tracking the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index. Both are passively managed. Over the past 3 years, IS3N.DE returned 19.99%/yr vs 3.33%/yr for ERNX.DE. At a correlation of -0.02, they often move in opposite directions. IS3N.DE charges 0.18%/yr vs 0.09%/yr for ERNX.DE.
Performance
IS3N.DE vs. ERNX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS3N.DE achieves a 25.82% return, which is significantly higher than ERNX.DE's 0.87% return.
IS3N.DE
- 1D
- -1.45%
- 1M
- 3.11%
- YTD
- 25.82%
- 6M
- 26.34%
- 1Y
- 45.77%
- 3Y*
- 19.99%
- 5Y*
- 8.61%
- 10Y*
- 10.00%
ERNX.DE
- 1D
- 0.04%
- 1M
- 0.28%
- YTD
- 0.87%
- 6M
- 0.97%
- 1Y
- 2.18%
- 3Y*
- 3.33%
- 5Y*
- —
- 10Y*
- —
IS3N.DE vs. ERNX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IS3N.DE iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 25.82% | 17.14% | 13.87% | 7.20% | -10.05% |
ERNX.DE iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating | 0.87% | 2.69% | 4.04% | 3.34% | 0.10% |
Correlation
The correlation between IS3N.DE and ERNX.DE is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since May 2, 2022 | -0.02 |
The correlation between IS3N.DE and ERNX.DE shifts across timeframes, from -0.13 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IS3N.DE vs. ERNX.DE — Risk / Return Rank
IS3N.DE
ERNX.DE
IS3N.DE vs. ERNX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) and iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating (ERNX.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.
| IS3N.DE | ERNX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.67 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 4.42 | 10.99 | -6.56 |
| Martin ratioReturn relative to average drawdown | 16.00 | 54.93 | -38.93 |
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
| IS3N.DE | ERNX.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.69 | 2.94 | -0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 3.90 | -3.46 |
Drawdowns
IS3N.DE vs. ERNX.DE - Drawdown Comparison
The maximum IS3N.DE drawdown since its inception was -35.06%, which is greater than ERNX.DE's maximum drawdown of -0.83%. Use the drawdown chart below to compare losses from any high point for IS3N.DE and ERNX.DE.
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Drawdown Indicators
| IS3N.DE | ERNX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.06% | -0.83% | -34.23% |
Max Drawdown (1Y)Largest decline over 1 year | -10.52% | -0.20% | -10.32% |
Max Drawdown (3Y)Largest decline over 3 years | -19.17% | -0.20% | -18.97% |
Max Drawdown (5Y)Largest decline over 5 years | -22.01% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.51% | — | — |
Current DrawdownCurrent decline from peak | -2.49% | -0.00% | -2.49% |
Average DrawdownAverage peak-to-trough decline | -9.30% | -0.09% | -9.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.91% | 0.04% | +2.87% |
Volatility
IS3N.DE vs. ERNX.DE - Volatility Comparison
iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) has a higher volatility of 7.16% compared to iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating (ERNX.DE) at 0.17%. This indicates that IS3N.DE's price experiences larger fluctuations and is considered to be riskier than ERNX.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS3N.DE | ERNX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.16% | 0.17% | +6.99% |
Volatility (6M)Calculated over the trailing 6-month period | 14.69% | 0.56% | +14.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.32% | 0.74% | +16.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.19% | 0.68% | +15.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.04% | 0.68% | +17.36% |
IS3N.DE vs. ERNX.DE - Expense Ratio Comparison
IS3N.DE has a 0.18% expense ratio, which is higher than ERNX.DE's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IS3N.DE vs. ERNX.DE - Dividend Comparison
Neither IS3N.DE nor ERNX.DE has paid dividends to shareholders.
Frequently Asked Questions
IS3N.DE and ERNX.DE have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERNX.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNX.DE is cheaper with a 0.09% expense ratio, compared with 0.18% for IS3N.DE.
IS3N.DE is categorized as Emerging Markets Equities, while ERNX.DE is Ultrashort Bond. IS3N.DE tracks MSCI Emerging Markets Investable Market (IMI), while ERNX.DE tracks Markit iBoxx EUR Liquid Investment Grade Ultrashort Index. Their fees differ too: 0.18% for IS3N.DE and 0.09% for ERNX.DE.
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