MCSE vs. IBTF
MCSE (Martin Currie Sustainable International Equity ETF) and IBTF (iShares iBonds Dec 2025 Term Treasury ETF) are both exchange-traded funds - MCSE is a Foreign Large Cap Equities fund actively managed by Martin Currie, while IBTF is a Government Bonds fund tracking the ICE 2025 Maturity US Treasury Index. MCSE is actively managed, while IBTF is passively managed. Over the past 3 years, MCSE returned -0.32%/yr vs 3.66%/yr for IBTF. At a 0.08 correlation, their price movements are largely independent. MCSE charges 0.59%/yr vs 0.07%/yr for IBTF.
Performance
MCSE vs. IBTF - Performance Comparison
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Returns By Period
MCSE
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 1.12%
- 6M
- 0.84%
- 1Y
- 2.20%
- 3Y*
- -0.32%
- 5Y*
- —
- 10Y*
- —
IBTF
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.09%
- 1Y
- 2.14%
- 3Y*
- 3.66%
- 5Y*
- 0.90%
- 10Y*
- —
MCSE vs. IBTF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MCSE Martin Currie Sustainable International Equity ETF | 1.12% | 7.79% | -9.46% | 14.86% | 11.00% |
IBTF iShares iBonds Dec 2025 Term Treasury ETF | 0.00% | 3.81% | 4.60% | 4.12% | 1.10% |
Correlation
The correlation between MCSE and IBTF is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2022 | 0.08 |
The correlation between MCSE and IBTF shifts across timeframes, from -0.02 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MCSE vs. IBTF — Risk / Return Rank
MCSE
IBTF
MCSE vs. IBTF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Martin Currie Sustainable International Equity ETF (MCSE) and iShares iBonds Dec 2025 Term Treasury ETF (IBTF). 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.
| MCSE | IBTF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.88 | ||
| Sortino ratioReturn per unit of downside risk | -19.72 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 6.23 | -5.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.23 | 59.41 | -59.17 |
| Martin ratioReturn relative to average drawdown | 0.56 | 269.70 | -269.13 |
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
| MCSE | IBTF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.20 | 7.08 | -6.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.44 | -0.09 |
Drawdowns
MCSE vs. IBTF - Drawdown Comparison
The maximum MCSE drawdown since its inception was -26.36%, which is greater than IBTF's maximum drawdown of -10.45%. Use the drawdown chart below to compare losses from any high point for MCSE and IBTF.
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Drawdown Indicators
| MCSE | IBTF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.36% | -10.45% | -15.91% |
Max Drawdown (1Y)Largest decline over 1 year | -10.42% | -0.04% | -10.38% |
Max Drawdown (3Y)Largest decline over 3 years | -26.36% | -0.67% | -25.69% |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.53% | — |
Current DrawdownCurrent decline from peak | -10.51% | 0.00% | -10.51% |
Average DrawdownAverage peak-to-trough decline | -8.73% | -3.33% | -5.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.10% | 0.01% | +4.09% |
Volatility
MCSE vs. IBTF - Volatility Comparison
The current volatility for Martin Currie Sustainable International Equity ETF (MCSE) is 0.00%, while iShares iBonds Dec 2025 Term Treasury ETF (IBTF) has a volatility of 0.00%. This indicates that MCSE experiences smaller price fluctuations and is considered to be less risky than IBTF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCSE | IBTF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 0.00% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 6.17% | 0.19% | +5.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.39% | 0.36% | +12.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.52% | 2.38% | +17.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.52% | 2.56% | +16.96% |
MCSE vs. IBTF - Expense Ratio Comparison
MCSE has a 0.59% expense ratio, which is higher than IBTF's 0.07% expense ratio.
Dividends
MCSE vs. IBTF - Dividend Comparison
MCSE's dividend yield for the trailing twelve months is around 3.74%, more than IBTF's 2.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IBTF iShares iBonds Dec 2025 Term Treasury ETF | 2.08% | 3.83% | 4.32% | 4.03% | 1.93% | 0.57% | 0.59% |
MCSE Martin Currie Sustainable International Equity ETF | 3.74% | 3.78% | 0.63% | 0.57% | 0.48% | 0.00% | 0.00% |
Frequently Asked Questions
MCSE and IBTF have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBTF has higher volatility (0.00%) compared to MCSE (0.00%). In terms of maximum drawdown, MCSE dropped -26.36% vs IBTF's -10.45%.
On 3-year performance, IBTF leads with 3.66% vs -0.32% for MCSE. On fees, IBTF is cheaper at 0.07% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IBTF has performed better with a 3.66% return vs -0.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTF is cheaper with a 0.07% expense ratio, compared with 0.59% for MCSE.
MCSE has the higher dividend yield at 3.74%, compared with 2.08% for IBTF.
MCSE is categorized as Foreign Large Cap Equities, while IBTF is Government Bonds. They also come from different issuers: Martin Currie and iShares. Their fees differ too: 0.59% for MCSE and 0.07% for IBTF.
IBTF currently has the higher Sharpe Ratio (7.08 vs 0.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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