IS3N.DE vs. H41E.DE
IS3N.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) and H41E.DE (HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc)) are both Emerging Markets Equities funds - IS3N.DE tracks the MSCI Emerging Markets Investable Market (IMI) while H41E.DE tracks the MSCI Emerging Markets Value SRI ESG Target Select. Both are passively managed. Over the past 3 years, IS3N.DE returned 19.99%/yr vs 27.78%/yr for H41E.DE. Their correlation of 0.94 suggests significant overlap in exposure. IS3N.DE charges 0.18%/yr vs 0.35%/yr for H41E.DE.
Performance
IS3N.DE vs. H41E.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 lower than H41E.DE's 39.52% return.
IS3N.DE
- 1D
- -1.45%
- 1M
- 5.25%
- YTD
- 25.82%
- 6M
- 27.45%
- 1Y
- 46.76%
- 3Y*
- 19.99%
- 5Y*
- 8.61%
- 10Y*
- 10.00%
H41E.DE
- 1D
- -1.46%
- 1M
- 11.44%
- YTD
- 39.52%
- 6M
- 42.99%
- 1Y
- 69.89%
- 3Y*
- 27.78%
- 5Y*
- —
- 10Y*
- —
IS3N.DE vs. H41E.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% | -2.51% |
H41E.DE HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) | 39.52% | 22.02% | 17.74% | 11.43% | -2.00% |
Correlation
The correlation between IS3N.DE and H41E.DE is 0.95 - 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2022 | 0.94 |
The correlation between IS3N.DE and H41E.DE has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.
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Return for Risk
IS3N.DE vs. H41E.DE — Risk / Return Rank
IS3N.DE
H41E.DE
IS3N.DE vs. H41E.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 Value ESG UCITS ETF USD (Acc) (H41E.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 | H41E.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.69 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 4.42 | 7.09 | -2.67 |
| Martin ratioReturn relative to average drawdown | 16.00 | 25.00 | -9.00 |
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 | H41E.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.69 | 3.91 | -1.22 |
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 | 1.56 | -1.12 |
Drawdowns
IS3N.DE vs. H41E.DE - Drawdown Comparison
The maximum IS3N.DE drawdown since its inception was -35.06%, which is greater than H41E.DE's maximum drawdown of -20.92%. Use the drawdown chart below to compare losses from any high point for IS3N.DE and H41E.DE.
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Drawdown Indicators
| IS3N.DE | H41E.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.06% | -20.92% | -14.14% |
Max Drawdown (1Y)Largest decline over 1 year | -10.52% | -9.80% | -0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -19.17% | -20.92% | +1.75% |
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% | -3.33% | +0.84% |
Average DrawdownAverage peak-to-trough decline | -9.30% | -3.10% | -6.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.91% | 2.79% | +0.12% |
Volatility
IS3N.DE vs. H41E.DE - Volatility Comparison
The current volatility for iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) is 7.16%, while HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) (H41E.DE) has a volatility of 7.97%. This indicates that IS3N.DE experiences smaller price fluctuations and is considered to be less risky than H41E.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 | H41E.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.16% | 7.97% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 14.69% | 14.66% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.32% | 17.80% | -0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.19% | 16.06% | +0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.04% | 16.06% | +1.98% |
IS3N.DE vs. H41E.DE - Expense Ratio Comparison
IS3N.DE has a 0.18% expense ratio, which is lower than H41E.DE's 0.35% expense ratio.
Dividends
IS3N.DE vs. H41E.DE - Dividend Comparison
Neither IS3N.DE nor H41E.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, IS3N.DE and H41E.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, IS3N.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS3N.DE is cheaper with a 0.18% expense ratio, compared with 0.35% for H41E.DE.
IS3N.DE tracks MSCI Emerging Markets Investable Market (IMI), while H41E.DE tracks MSCI Emerging Markets Value SRI ESG Target Select. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.18% for IS3N.DE and 0.35% for H41E.DE.
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