IS3N.DE vs. H410.DE
IS3N.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) and H410.DE (HSBC MSCI Emerging Markets UCITS ETF USD) are both Emerging Markets Equities funds - IS3N.DE tracks the MSCI Emerging Markets Investable Market Index (IMI) while H410.DE tracks the MSCI Emerging Markets. Both are passively managed. Over the past 10 years, IS3N.DE returned 8.85%/yr vs 8.62%/yr for H410.DE. With a 0.98 correlation, they move nearly in lockstep. IS3N.DE charges 0.18%/yr vs 0.15%/yr for H410.DE.
Performance
IS3N.DE vs. H410.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS3N.DE achieves a 21.93% return, which is significantly lower than H410.DE's 23.59% return. Both investments have delivered pretty close results over the past 10 years, with IS3N.DE having a 8.85% annualized return and H410.DE not far behind at 8.62%.
IS3N.DE
- 1D
- -0.30%
- 1M
- -4.79%
- 6M
- 14.75%
- YTD
- 21.93%
- 1Y
- 36.45%
- 3Y*
- 18.54%
- 5Y*
- 7.88%
- 10Y*
- 8.85%
H410.DE
- 1D
- -0.41%
- 1M
- -4.81%
- 6M
- 16.27%
- YTD
- 23.59%
- 1Y
- 40.06%
- 3Y*
- 19.24%
- 5Y*
- 7.58%
- 10Y*
- 8.62%
IS3N.DE vs. H410.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS3N.DE iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 21.93% | 17.14% | 13.88% | 7.20% | -13.85% | 7.09% | 7.07% | 20.99% | -11.06% | 20.43% |
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD | 23.59% | 18.65% | 13.95% | 4.67% | -13.87% | 4.04% | 6.95% | 21.14% | -11.36% | 21.12% |
Correlation
The correlation between IS3N.DE and H410.DE is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2014 | 0.98 |
The correlation between IS3N.DE and H410.DE has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
IS3N.DE vs. H410.DE — Risk / Return Rank
IS3N.DE
H410.DE
IS3N.DE vs. H410.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 HSBC MSCI Emerging Markets UCITS ETF USD (H410.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.
| IS3N.DE | H410.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.36 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.45 | 3.81 | -0.36 |
| Martin ratioReturn relative to average drawdown | 10.72 | 11.69 | -0.97 |
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Drawdowns
IS3N.DE vs. H410.DE - Drawdown Comparison
The maximum IS3N.DE drawdown since its inception was -35.06%, smaller than the maximum H410.DE drawdown of -41.02%. Use the drawdown chart below to compare losses from any high point for IS3N.DE and H410.DE.
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Drawdown Indicators
| IS3N.DE | H410.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.06% | -41.02% | +5.96% |
Max Drawdown (1Y)Largest decline over 1 year | -10.52% | -10.47% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -19.18% | -19.01% | -0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -21.99% | -22.77% | +0.78% |
Max Drawdown (10Y)Largest decline over 10 years | -32.51% | -31.62% | -0.89% |
Current DrawdownCurrent decline from peak | -7.75% | -7.87% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -9.23% | -13.30% | +4.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.39% | 3.42% | -0.03% |
Volatility
IS3N.DE vs. H410.DE - Volatility Comparison
iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE) have volatilities of 8.26% and 8.52%, 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
| IS3N.DE | H410.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.26% | 8.52% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 17.21% | 17.56% | -0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.58% | 20.06% | -0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.70% | 17.16% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.18% | 18.30% | -0.12% |
IS3N.DE vs. H410.DE - Expense Ratio Comparison
IS3N.DE has a 0.18% expense ratio, which is higher than H410.DE's 0.15% 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. H410.DE - Dividend Comparison
IS3N.DE has not paid dividends to shareholders, while H410.DE's dividend yield for the trailing twelve months is around 1.65%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD | 1.65% | 2.00% | 2.40% | 2.59% | 3.11% | 2.00% | 1.69% | 2.03% | 2.20% | 1.62% | 1.71% | 2.28% |
IS3N.DE iShares Core MSCI Emerging Markets IMI 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% |
Frequently Asked Questions
With a correlation of 0.99, IS3N.DE and H410.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, H410.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H410.DE is cheaper with a 0.15% expense ratio, compared with 0.18% for IS3N.DE.
IS3N.DE tracks MSCI Emerging Markets Investable Market Index (IMI), while H410.DE tracks MSCI Emerging Markets. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.18% for IS3N.DE and 0.15% for H410.DE.
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