VWCE.DE vs. IS3N.DE
VWCE.DE (Vanguard FTSE All-World UCITS ETF) and IS3N.DE (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) are both exchange-traded funds - VWCE.DE is a Global Equities fund tracking the FTSE All-World Index, 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, VWCE.DE returned 12.28%/yr vs 8.61%/yr for IS3N.DE. A 0.74 correlation means they provide meaningful diversification when combined. VWCE.DE charges 0.19%/yr vs 0.18%/yr for IS3N.DE.
Performance
VWCE.DE vs. IS3N.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VWCE.DE achieves a 12.64% return, which is significantly lower than IS3N.DE's 25.82% return.
VWCE.DE
- 1D
- -0.21%
- 1M
- 5.01%
- YTD
- 12.64%
- 6M
- 13.33%
- 1Y
- 26.41%
- 3Y*
- 17.85%
- 5Y*
- 12.28%
- 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%
VWCE.DE vs. IS3N.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VWCE.DE Vanguard FTSE All-World UCITS ETF | 12.64% | 9.16% | 24.41% | 18.18% | -13.47% | 28.62% | 5.36% | 8.01% |
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% | 7.74% |
Correlation
The correlation between VWCE.DE and IS3N.DE is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2019 | 0.74 |
The correlation between VWCE.DE and IS3N.DE has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.
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Return for Risk
VWCE.DE vs. IS3N.DE — Risk / Return Rank
VWCE.DE
IS3N.DE
VWCE.DE vs. IS3N.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World UCITS ETF (VWCE.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.
| VWCE.DE | IS3N.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.49 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.01 | 4.42 | -0.41 |
| Martin ratioReturn relative to average drawdown | 16.55 | 16.00 | +0.54 |
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
| VWCE.DE | IS3N.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.31 | 2.69 | -0.38 |
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 | 0.79 | 0.44 | +0.35 |
Drawdowns
VWCE.DE vs. IS3N.DE - Drawdown Comparison
The maximum VWCE.DE drawdown since its inception was -33.43%, roughly equal to the maximum IS3N.DE drawdown of -35.06%. Use the drawdown chart below to compare losses from any high point for VWCE.DE and IS3N.DE.
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Drawdown Indicators
| VWCE.DE | IS3N.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.43% | -35.06% | +1.63% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -10.52% | +3.97% |
Max Drawdown (3Y)Largest decline over 3 years | -21.07% | -19.17% | -1.90% |
Max Drawdown (5Y)Largest decline over 5 years | -21.07% | -22.01% | +0.94% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.51% | — |
Current DrawdownCurrent decline from peak | -0.66% | -2.49% | +1.83% |
Average DrawdownAverage peak-to-trough decline | -4.69% | -9.30% | +4.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 2.91% | -1.32% |
Volatility
VWCE.DE vs. IS3N.DE - Volatility Comparison
The current volatility for Vanguard FTSE All-World UCITS ETF (VWCE.DE) is 3.06%, while iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (IS3N.DE) has a volatility of 7.16%. This indicates that VWCE.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
| VWCE.DE | IS3N.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.06% | 7.16% | -4.10% |
Volatility (6M)Calculated over the trailing 6-month period | 8.18% | 14.69% | -6.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.37% | 17.32% | -5.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.75% | 16.19% | -2.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.16% | 18.04% | -1.88% |
VWCE.DE vs. IS3N.DE - Expense Ratio Comparison
VWCE.DE has a 0.19% 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
VWCE.DE vs. IS3N.DE - Dividend Comparison
Neither VWCE.DE nor IS3N.DE has paid dividends to shareholders.
Frequently Asked Questions
VWCE.DE and IS3N.DE have a correlation of 0.80, 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 0.19% for VWCE.DE.
VWCE.DE is categorized as Global Equities, while IS3N.DE is Emerging Markets Equities. VWCE.DE tracks FTSE All-World Index, while IS3N.DE tracks MSCI Emerging Markets Investable Market (IMI). They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.19% for VWCE.DE and 0.18% for IS3N.DE.
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