OPEN.DE vs. IS3N.DE
OPEN.DE (iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc)) and IS3N.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) are both exchange-traded funds - OPEN.DE is a Global Equities fund tracking the MSCI ACWI Value NR USD, while IS3N.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market (IMI). Both are passively managed. Over the past 5 years, OPEN.DE returned 11.65%/yr vs 8.61%/yr for IS3N.DE. A 0.68 correlation means they provide meaningful diversification when combined. OPEN.DE charges 0.25%/yr vs 0.18%/yr for IS3N.DE.
Performance
OPEN.DE vs. IS3N.DE - Performance Comparison
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Returns By Period
In the year-to-date period, OPEN.DE achieves a 19.86% return, which is significantly lower than IS3N.DE's 25.82% return.
OPEN.DE
- 1D
- -0.71%
- 1M
- 10.85%
- YTD
- 19.86%
- 6M
- 21.67%
- 1Y
- 28.74%
- 3Y*
- 16.69%
- 5Y*
- 11.65%
- 10Y*
- —
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%
OPEN.DE vs. IS3N.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
OPEN.DE iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) | 19.86% | 10.46% | 14.15% | 11.37% | -3.82% | 27.16% | 0.34% | 25.25% | -8.09% |
IS3N.DE iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 25.82% | 17.14% | 13.87% | 7.20% | -14.09% | 7.38% | 7.07% | 21.01% | -3.28% |
Correlation
The correlation between OPEN.DE and IS3N.DE is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2018 | 0.68 |
The correlation between OPEN.DE and IS3N.DE has been stable across timeframes, ranging from 0.65 to 0.68 - a consistent structural relationship.
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Return for Risk
OPEN.DE vs. IS3N.DE — Risk / Return Rank
OPEN.DE
IS3N.DE
OPEN.DE vs. IS3N.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) (OPEN.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.
| OPEN.DE | IS3N.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.49 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 4.42 | -0.92 |
| Martin ratioReturn relative to average drawdown | 12.97 | 16.00 | -3.04 |
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
| OPEN.DE | IS3N.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.40 | 2.69 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | 0.53 | +0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.44 | +0.33 |
Drawdowns
OPEN.DE vs. IS3N.DE - Drawdown Comparison
The maximum OPEN.DE drawdown since its inception was -33.09%, smaller than the maximum IS3N.DE drawdown of -35.06%. Use the drawdown chart below to compare losses from any high point for OPEN.DE and IS3N.DE.
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Drawdown Indicators
| OPEN.DE | IS3N.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.09% | -35.06% | +1.97% |
Max Drawdown (1Y)Largest decline over 1 year | -8.16% | -10.52% | +2.36% |
Max Drawdown (3Y)Largest decline over 3 years | -19.68% | -19.17% | -0.51% |
Max Drawdown (5Y)Largest decline over 5 years | -19.68% | -22.01% | +2.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.51% | — |
Current DrawdownCurrent decline from peak | -2.06% | -2.49% | +0.43% |
Average DrawdownAverage peak-to-trough decline | -3.97% | -9.30% | +5.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 2.91% | -0.70% |
Volatility
OPEN.DE vs. IS3N.DE - Volatility Comparison
The current volatility for iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) (OPEN.DE) is 4.89%, while iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) has a volatility of 7.16%. This indicates that OPEN.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
| OPEN.DE | IS3N.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.89% | 7.16% | -2.27% |
Volatility (6M)Calculated over the trailing 6-month period | 9.68% | 14.69% | -5.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.93% | 17.32% | -5.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.04% | 16.19% | -3.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.46% | 18.04% | -2.58% |
OPEN.DE vs. IS3N.DE - Expense Ratio Comparison
OPEN.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
OPEN.DE vs. IS3N.DE - Dividend Comparison
Neither OPEN.DE nor IS3N.DE has paid dividends to shareholders.
Frequently Asked Questions
OPEN.DE and IS3N.DE have a correlation of 0.67, 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 OPEN.DE.
OPEN.DE is categorized as Global Equities, while IS3N.DE is Emerging Markets Equities. OPEN.DE tracks MSCI ACWI Value NR USD, while IS3N.DE tracks MSCI Emerging Markets Investable Market (IMI). Their fees differ too: 0.25% for OPEN.DE and 0.18% for IS3N.DE.
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