CDCE.L vs. XSCD.L

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR MSCI Europe Consumer Discretionary UCITS ETF (CDCE.L) and Xtrackers MSCI USA Consumer Discretionary UCITS ETF 1D (XSCD.L).

CDCE.L and XSCD.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CDCE.L is a passively managed fund by State Street that tracks the performance of the Cat 50%MSCI Wld/CD NR&50%MSCI Wld/CS NR. It was launched on Dec 5, 2014. XSCD.L is a passively managed fund by Xtrackers that tracks the performance of the Cat 50%MSCI Wld/CD NR&50%MSCI Wld/CS NR. It was launched on Sep 12, 2017. Both CDCE.L and XSCD.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

CDCE.L vs. XSCD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI Europe Consumer Discretionary UCITS ETF (CDCE.L) and Xtrackers MSCI USA Consumer Discretionary UCITS ETF 1D (XSCD.L). The values are adjusted to include any dividend payments, if applicable.

CDCE.L vs. XSCD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CDCE.L SPDR MSCI Europe Consumer Discretionary UCITS ETF	-18.37%	7.38%	-1.21%	13.03%	8.39%
XSCD.L Xtrackers MSCI USA Consumer Discretionary UCITS ETF 1D	-8.83%	-1.95%	35.07%	37.43%	-25.46%

Different Trading Currencies

CDCE.L is traded in GBP, while XSCD.L is traded in GBp. To make them comparable, the XSCD.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, CDCE.L achieves a -18.37% return, which is significantly lower than XSCD.L's -8.83% return.

CDCE.L

• 1D: 0.81%
• 1M: -13.37%
• YTD: -18.37%
• 6M: -14.12%
• 1Y: -9.00%
• 3Y*: -5.86%
• 5Y*: —
• 10Y*: —

XSCD.L

• 1D: 0.72%
• 1M: -4.73%
• YTD: -8.83%
• 6M: -8.24%
• 1Y: 10.31%
• 3Y*: 13.23%
• 5Y*: 6.47%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CDCE.L vs. XSCD.L - Expense Ratio Comparison

CDCE.L has a 0.18% expense ratio, which is higher than XSCD.L's 0.12% 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%.

CDCE.L

SPDR MSCI Europe Consumer Discretionary UCITS ETF

XSCD.L

Xtrackers MSCI USA Consumer Discretionary UCITS ETF 1D

Return for Risk

CDCE.L vs. XSCD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CDCE.L

CDCE.L Risk / Return Rank: 4
CDCE.L Sharpe Ratio Rank: 4
CDCE.L Sortino Ratio Rank: 4
CDCE.L Omega Ratio Rank: 4
CDCE.L Calmar Ratio Rank: 5
CDCE.L Martin Ratio Rank: 2

XSCD.L

XSCD.L Risk / Return Rank: 30
XSCD.L Sharpe Ratio Rank: 35
XSCD.L Sortino Ratio Rank: 40
XSCD.L Omega Ratio Rank: 34
XSCD.L Calmar Ratio Rank: 21
XSCD.L Martin Ratio Rank: 19

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CDCE.L vs. XSCD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Consumer Discretionary UCITS ETF (CDCE.L) and Xtrackers MSCI USA Consumer Discretionary UCITS ETF 1D (XSCD.L). 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.

	CDCE.L	XSCD.L	Difference
Sharpe ratio Return per unit of total volatility	-0.48	0.67	-1.15
Sortino ratio Return per unit of downside risk	-0.55	1.14	-1.68
Omega ratio Gain probability vs. loss probability	0.93	1.14	-0.20
Calmar ratio Return relative to maximum drawdown	-0.45	0.43	-0.88
Martin ratio Return relative to average drawdown	-1.38	1.01	-2.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CDCE.L vs. XSCD.L - Sharpe Ratio Comparison

The current CDCE.L Sharpe Ratio is -0.48, which is lower than the XSCD.L Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of CDCE.L and XSCD.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CDCE.L	XSCD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.48	0.67	-1.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.37	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.71	-0.64

Correlation

The correlation between CDCE.L and XSCD.L is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CDCE.L vs. XSCD.L - Dividend Comparison

CDCE.L has not paid dividends to shareholders, while XSCD.L's dividend yield for the trailing twelve months is around 0.50%.

	TTM	2025	2024	2023	2022	2021	2020	2019
CDCE.L SPDR MSCI Europe Consumer Discretionary UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XSCD.L Xtrackers MSCI USA Consumer Discretionary UCITS ETF 1D	0.50%	0.44%	0.40%	0.60%	0.88%	0.36%	0.58%	0.00%

Drawdowns

CDCE.L vs. XSCD.L - Drawdown Comparison

The maximum CDCE.L drawdown since its inception was -23.43%, smaller than the maximum XSCD.L drawdown of -34.70%. Use the drawdown chart below to compare losses from any high point for CDCE.L and XSCD.L.

Drawdown Indicators

	CDCE.L	XSCD.L	Difference
Max Drawdown Largest peak-to-trough decline	-23.43%	-34.70%	+11.27%
Max Drawdown (1Y) Largest decline over 1 year	-21.92%	-13.94%	-7.98%
Max Drawdown (5Y) Largest decline over 5 years	—	-34.70%	—
Current Drawdown Current decline from peak	-21.85%	-14.14%	-7.71%
Average Drawdown Average peak-to-trough decline	-7.48%	-12.13%	+4.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.15%	11.91%	-4.76%

Volatility

CDCE.L vs. XSCD.L - Volatility Comparison

SPDR MSCI Europe Consumer Discretionary UCITS ETF (CDCE.L) has a higher volatility of 7.00% compared to Xtrackers MSCI USA Consumer Discretionary UCITS ETF 1D (XSCD.L) at 6.15%. This indicates that CDCE.L's price experiences larger fluctuations and is considered to be riskier than XSCD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CDCE.L	XSCD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.00%	6.15%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	13.46%	16.65%	-3.19%
Volatility (1Y) Calculated over the trailing 1-year period	18.81%	27.69%	-8.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.21%	26.91%	-6.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.21%	30.29%	-10.08%