540J.DE vs. CEMS.DE
540J.DE (Amundi MSCI Switzerland UCITS ETF EUR) and CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) are both Europe Equities funds - 540J.DE tracks the MSCI Switzerland while CEMS.DE tracks the MSCI Europe Enhanced Value. Both are passively managed. Over the past 10 years, 540J.DE returned 8.74%/yr vs 10.71%/yr for CEMS.DE. A 0.67 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.
Performance
540J.DE vs. CEMS.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 540J.DE achieves a 4.11% return, which is significantly lower than CEMS.DE's 13.72% return. Over the past 10 years, 540J.DE has underperformed CEMS.DE with an annualized return of 8.74%, while CEMS.DE has yielded a comparatively higher 10.71% annualized return.
540J.DE
- 1D
- 1.16%
- 1M
- 0.54%
- YTD
- 4.11%
- 6M
- 7.57%
- 1Y
- 13.06%
- 3Y*
- 8.94%
- 5Y*
- 7.71%
- 10Y*
- 8.74%
CEMS.DE
- 1D
- 0.10%
- 1M
- 2.64%
- YTD
- 13.72%
- 6M
- 16.98%
- 1Y
- 32.08%
- 3Y*
- 21.63%
- 5Y*
- 14.47%
- 10Y*
- 10.71%
540J.DE vs. CEMS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
540J.DE Amundi MSCI Switzerland UCITS ETF EUR | 4.11% | 18.35% | 3.72% | 10.70% | -12.88% | 29.27% | 1.18% | 35.15% | -4.77% | 7.46% |
CEMS.DE iShares Edge MSCI Europe Value Factor UCITS ETF | 13.72% | 35.97% | 9.93% | 13.90% | -4.54% | 26.62% | -8.86% | 23.48% | -14.04% | 10.16% |
Correlation
The correlation between 540J.DE and CEMS.DE is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2015 | 0.67 |
The correlation between 540J.DE and CEMS.DE has been stable across timeframes, ranging from 0.63 to 0.69 - a consistent structural relationship.
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Return for Risk
540J.DE vs. CEMS.DE — Risk / Return Rank
540J.DE
CEMS.DE
540J.DE vs. CEMS.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Switzerland UCITS ETF EUR (540J.DE) and iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.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.
| 540J.DE | CEMS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -1.83 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.43 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 3.29 | -2.18 |
| Martin ratioReturn relative to average drawdown | 3.60 | 12.37 | -8.76 |
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
| 540J.DE | CEMS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 2.37 | -1.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | 0.94 | -0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.61 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.49 | +0.15 |
Drawdowns
540J.DE vs. CEMS.DE - Drawdown Comparison
The maximum 540J.DE drawdown since its inception was -25.99%, smaller than the maximum CEMS.DE drawdown of -40.20%. Use the drawdown chart below to compare losses from any high point for 540J.DE and CEMS.DE.
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Drawdown Indicators
| 540J.DE | CEMS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.99% | -40.20% | +14.21% |
Max Drawdown (1Y)Largest decline over 1 year | -11.38% | -9.99% | -1.39% |
Max Drawdown (3Y)Largest decline over 3 years | -15.76% | -17.57% | +1.81% |
Max Drawdown (5Y)Largest decline over 5 years | -17.64% | -19.55% | +1.91% |
Max Drawdown (10Y)Largest decline over 10 years | -25.99% | -40.20% | +14.21% |
Current DrawdownCurrent decline from peak | -3.33% | -1.26% | -2.07% |
Average DrawdownAverage peak-to-trough decline | -5.63% | -7.49% | +1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.52% | 2.66% | +0.86% |
Volatility
540J.DE vs. CEMS.DE - Volatility Comparison
The current volatility for Amundi MSCI Switzerland UCITS ETF EUR (540J.DE) is 4.33%, while iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.DE) has a volatility of 4.65%. This indicates that 540J.DE experiences smaller price fluctuations and is considered to be less risky than CEMS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 540J.DE | CEMS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.33% | 4.65% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 10.26% | 11.17% | -0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.13% | 13.87% | -0.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.47% | 15.23% | -1.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.03% | 17.43% | -3.40% |
540J.DE vs. CEMS.DE - Expense Ratio Comparison
Both 540J.DE and CEMS.DE have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
540J.DE vs. CEMS.DE - Dividend Comparison
Neither 540J.DE nor CEMS.DE has paid dividends to shareholders.
Frequently Asked Questions
540J.DE and CEMS.DE have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
540J.DE and CEMS.DE have the same expense ratio: 0.25% per year.
540J.DE tracks MSCI Switzerland, while CEMS.DE tracks MSCI Europe Enhanced Value. They also come from different issuers: Amundi and iShares.
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