IS3N.DE vs. SPYL.DE
IS3N.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both exchange-traded funds - IS3N.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market (IMI), while SPYL.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, IS3N.DE returned 45.03% vs 26.53% for SPYL.DE. A 0.57 correlation means they provide meaningful diversification when combined. IS3N.DE charges 0.18%/yr vs 0.03%/yr for SPYL.DE.
Performance
IS3N.DE vs. SPYL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS3N.DE achieves a 24.88% return, which is significantly higher than SPYL.DE's 11.37% return.
IS3N.DE
- 1D
- 3.12%
- 1M
- 1.48%
- YTD
- 24.88%
- 6M
- 27.74%
- 1Y
- 45.03%
- 3Y*
- 18.80%
- 5Y*
- 8.46%
- 10Y*
- 10.23%
SPYL.DE
- 1D
- -0.15%
- 1M
- 1.37%
- YTD
- 11.37%
- 6M
- 12.66%
- 1Y
- 26.53%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IS3N.DE vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IS3N.DE iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 24.88% | 17.14% | 13.88% | 8.00% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 11.37% | 4.71% | 32.33% | 9.54% |
Correlation
The correlation between IS3N.DE and SPYL.DE is 0.65, 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 | 0.65 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2023 | 0.57 |
The correlation between IS3N.DE and SPYL.DE has been stable across timeframes, ranging from 0.57 to 0.65 - a consistent structural relationship.
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Return for Risk
IS3N.DE vs. SPYL.DE — Risk / Return Rank
IS3N.DE
SPYL.DE
IS3N.DE vs. SPYL.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 State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.41 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.10 | 3.58 | +0.52 |
| Martin ratioReturn relative to average drawdown | 14.25 | 12.72 | +1.53 |
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Drawdowns
IS3N.DE vs. SPYL.DE - Drawdown Comparison
The maximum IS3N.DE drawdown since its inception was -35.06%, which is greater than SPYL.DE's maximum drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for IS3N.DE and SPYL.DE.
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Drawdown Indicators
| IS3N.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.06% | -23.27% | -11.79% |
Max Drawdown (1Y)Largest decline over 1 year | -10.52% | -7.13% | -3.39% |
Max Drawdown (3Y)Largest decline over 3 years | -19.18% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.99% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.51% | — | — |
Current DrawdownCurrent decline from peak | -3.21% | -0.46% | -2.75% |
Average DrawdownAverage peak-to-trough decline | -9.27% | -3.23% | -6.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.03% | 2.01% | +1.02% |
Volatility
IS3N.DE vs. SPYL.DE - Volatility Comparison
iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) has a higher volatility of 7.31% compared to State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 2.66%. This indicates that IS3N.DE's price experiences larger fluctuations and is considered to be riskier than SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.31% | 2.66% | +4.65% |
Volatility (6M)Calculated over the trailing 6-month period | 15.53% | 7.57% | +7.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.01% | 11.52% | +6.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.34% | 14.60% | +1.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.08% | 14.60% | +3.48% |
IS3N.DE vs. SPYL.DE - Expense Ratio Comparison
IS3N.DE has a 0.18% expense ratio, which is higher than SPYL.DE's 0.03% 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. SPYL.DE - Dividend Comparison
Neither IS3N.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
IS3N.DE and SPYL.DE have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYL.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.DE is cheaper with a 0.03% expense ratio, compared with 0.18% for IS3N.DE.
IS3N.DE is categorized as Emerging Markets Equities, while SPYL.DE is S&P 500. IS3N.DE tracks MSCI Emerging Markets Investable Market (IMI), while SPYL.DE tracks S&P 500 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.18% for IS3N.DE and 0.03% for SPYL.DE.
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