MACV.DE vs. IS3N.DE
MACV.DE (iShares Conservative Portfolio UCITS ETF EUR (Acc)) and IS3N.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) are both exchange-traded funds - MACV.DE is a Global Allocation fund actively managed by iShares, while IS3N.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market Index (IMI). MACV.DE is actively managed, while IS3N.DE is passively managed. Over the past 5 years, MACV.DE returned 0.68%/yr vs 8.39%/yr for IS3N.DE. At a 0.36 correlation, their price movements are largely independent. MACV.DE charges 0.25%/yr vs 0.18%/yr for IS3N.DE.
Performance
MACV.DE vs. IS3N.DE - Performance Comparison
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Returns By Period
In the year-to-date period, MACV.DE achieves a 3.65% return, which is significantly lower than IS3N.DE's 26.15% return.
MACV.DE
- 1D
- 0.00%
- 1M
- 0.19%
- 6M
- 3.65%
- YTD
- 3.65%
- 1Y
- 6.72%
- 3Y*
- 5.11%
- 5Y*
- 0.68%
- 10Y*
- —
IS3N.DE
- 1D
- 2.11%
- 1M
- -1.18%
- 6M
- 22.85%
- YTD
- 26.15%
- 1Y
- 42.71%
- 3Y*
- 19.59%
- 5Y*
- 8.39%
- 10Y*
- 9.80%
MACV.DE vs. IS3N.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MACV.DE iShares Conservative Portfolio UCITS ETF EUR (Acc) | 3.65% | 4.83% | 3.33% | 5.02% | -13.58% | 3.11% | 2.65% |
IS3N.DE iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 26.15% | 17.14% | 13.88% | 7.20% | -13.85% | 7.09% | 15.27% |
Correlation
The correlation between MACV.DE and IS3N.DE is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2020 | 0.36 |
Over the past year, MACV.DE and IS3N.DE have become more correlated (0.63) than their long-term average of 0.36, meaning their price movements have been converging.
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Return for Risk
MACV.DE vs. IS3N.DE — Risk / Return Rank
MACV.DE
IS3N.DE
MACV.DE vs. IS3N.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Conservative Portfolio UCITS ETF EUR (Acc) (MACV.DE) and iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.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.
| MACV.DE | IS3N.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.40 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 4.04 | -2.35 |
| Martin ratioReturn relative to average drawdown | 7.43 | 13.47 | -6.04 |
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Drawdowns
MACV.DE vs. IS3N.DE - Drawdown Comparison
The maximum MACV.DE drawdown since its inception was -15.57%, smaller than the maximum IS3N.DE drawdown of -35.06%. Use the drawdown chart below to compare losses from any high point for MACV.DE and IS3N.DE.
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Drawdown Indicators
| MACV.DE | IS3N.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.57% | -35.06% | +19.49% |
Max Drawdown (1Y)Largest decline over 1 year | -3.95% | -10.52% | +6.57% |
Max Drawdown (3Y)Largest decline over 3 years | -3.95% | -19.18% | +15.23% |
Max Drawdown (5Y)Largest decline over 5 years | -15.57% | -21.99% | +6.42% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.51% | — |
Current DrawdownCurrent decline from peak | -0.37% | -4.56% | +4.19% |
Average DrawdownAverage peak-to-trough decline | -6.32% | -9.24% | +2.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 3.16% | -2.26% |
Volatility
MACV.DE vs. IS3N.DE - Volatility Comparison
The current volatility for iShares Conservative Portfolio UCITS ETF EUR (Acc) (MACV.DE) is 1.73%, while iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) has a volatility of 8.89%. This indicates that MACV.DE experiences smaller price fluctuations and is considered to be less risky than IS3N.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MACV.DE | IS3N.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.73% | 8.89% | -7.16% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 16.69% | -12.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.26% | 19.07% | -13.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.25% | 16.62% | -11.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.23% | 18.15% | -12.92% |
MACV.DE vs. IS3N.DE - Expense Ratio Comparison
MACV.DE has a 0.25% expense ratio, which is higher than IS3N.DE's 0.18% 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
MACV.DE vs. IS3N.DE - Dividend Comparison
Neither MACV.DE nor IS3N.DE has paid dividends to shareholders.
Frequently Asked Questions
MACV.DE and IS3N.DE have a correlation of 0.63, 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 0.25% for MACV.DE.
MACV.DE is categorized as Global Allocation, while IS3N.DE is Emerging Markets Equities. Their fees differ too: 0.25% for MACV.DE and 0.18% for IS3N.DE.
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