IS3N.DE vs. IUSE.L
IS3N.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) and IUSE.L (iShares S&P 500 EUR Hedged UCITS ETF Acc) are both exchange-traded funds - IS3N.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market Index (IMI), while IUSE.L is a S&P 500 fund tracking the S&P 500 EUR Hedged Index. Both are passively managed. Over the past 10 years, IS3N.DE returned 8.50%/yr vs 12.04%/yr for IUSE.L. A 0.61 correlation means they provide meaningful diversification when combined. IS3N.DE charges 0.18%/yr vs 0.20%/yr for IUSE.L.
Performance
IS3N.DE vs. IUSE.L - Performance Comparison
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Returns By Period
In the year-to-date period, IS3N.DE achieves a 18.17% return, which is significantly higher than IUSE.L's 7.54% return. Over the past 10 years, IS3N.DE has underperformed IUSE.L with an annualized return of 8.50%, while IUSE.L has yielded a comparatively higher 12.04% annualized return.
IS3N.DE
- 1D
- -1.97%
- 1M
- -9.63%
- 6M
- 10.94%
- YTD
- 18.17%
- 1Y
- 31.10%
- 3Y*
- 17.61%
- 5Y*
- 7.21%
- 10Y*
- 8.50%
IUSE.L
- 1D
- -1.30%
- 1M
- -0.21%
- 6M
- 6.68%
- YTD
- 7.54%
- 1Y
- 17.02%
- 3Y*
- 16.87%
- 5Y*
- 10.14%
- 10Y*
- 12.04%
IS3N.DE vs. IUSE.L - 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) | 18.17% | 17.14% | 13.88% | 7.20% | -13.85% | 7.09% | 7.07% | 20.99% | -11.06% | 20.43% |
IUSE.L iShares S&P 500 EUR Hedged UCITS ETF Acc | 7.54% | 14.95% | 23.21% | 23.05% | -21.17% | 27.85% | 14.81% | 26.33% | -8.40% | 19.04% |
Correlation
The correlation between IS3N.DE and IUSE.L is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2014 | 0.61 |
The correlation between IS3N.DE and IUSE.L has been stable across timeframes, ranging from 0.55 to 0.62 - a consistent structural relationship.
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Return for Risk
IS3N.DE vs. IUSE.L — Risk / Return Rank
IS3N.DE
IUSE.L
IS3N.DE vs. IUSE.L - 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 S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L). 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 | IUSE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.26 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.89 | 1.98 | +0.91 |
| Martin ratioReturn relative to average drawdown | 8.76 | 7.93 | +0.82 |
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Drawdowns
IS3N.DE vs. IUSE.L - Drawdown Comparison
The maximum IS3N.DE drawdown since its inception was -35.06%, roughly equal to the maximum IUSE.L drawdown of -34.75%. Use the drawdown chart below to compare losses from any high point for IS3N.DE and IUSE.L.
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Drawdown Indicators
| IS3N.DE | IUSE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.06% | -34.75% | -0.31% |
Max Drawdown (1Y)Largest decline over 1 year | -10.59% | -8.67% | -1.92% |
Max Drawdown (3Y)Largest decline over 3 years | -19.18% | -18.33% | -0.85% |
Max Drawdown (5Y)Largest decline over 5 years | -21.99% | -26.23% | +4.24% |
Max Drawdown (10Y)Largest decline over 10 years | -32.51% | -34.75% | +2.24% |
Current DrawdownCurrent decline from peak | -10.59% | -1.97% | -8.62% |
Average DrawdownAverage peak-to-trough decline | -9.23% | -4.25% | -4.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 2.16% | +1.34% |
Volatility
IS3N.DE vs. IUSE.L - Volatility Comparison
iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) has a higher volatility of 8.01% compared to iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) at 3.05%. This indicates that IS3N.DE's price experiences larger fluctuations and is considered to be riskier than IUSE.L 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 | IUSE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.01% | 3.05% | +4.96% |
Volatility (6M)Calculated over the trailing 6-month period | 17.36% | 9.34% | +8.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.68% | 12.08% | +7.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.72% | 16.07% | +0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.19% | 16.29% | +1.90% |
IS3N.DE vs. IUSE.L - Expense Ratio Comparison
IS3N.DE has a 0.18% expense ratio, which is lower than IUSE.L's 0.20% expense ratio. Despite the difference, 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. IUSE.L - Dividend Comparison
Neither IS3N.DE nor IUSE.L has paid dividends to shareholders.
Frequently Asked Questions
IS3N.DE and IUSE.L have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.20% for IUSE.L.
IS3N.DE is categorized as Emerging Markets Equities, while IUSE.L is S&P 500. IS3N.DE tracks MSCI Emerging Markets Investable Market Index (IMI), while IUSE.L tracks S&P 500 EUR Hedged Index. Their fees differ too: 0.18% for IS3N.DE and 0.20% for IUSE.L.
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