CEBP.DE vs. XB4A.DE
CEBP.DE (iShares MSCI EMU USD Hedged UCITS ETF (Acc)) and XB4A.DE (Xtrackers ATX UCITS ETF (Acc)) are both Europe Equities funds - CEBP.DE tracks the MSCI EMU 100% Hedged to USD Index while XB4A.DE tracks the ATX Index. Both are passively managed. Over the past 10 years, CEBP.DE returned 13.04%/yr vs 15.98%/yr for XB4A.DE. A 0.65 correlation means they provide meaningful diversification when combined. CEBP.DE charges 0.38%/yr vs 0.25%/yr for XB4A.DE.
Performance
CEBP.DE vs. XB4A.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CEBP.DE achieves a 18.33% return, which is significantly lower than XB4A.DE's 26.47% return. Over the past 10 years, CEBP.DE has underperformed XB4A.DE with an annualized return of 13.04%, while XB4A.DE has yielded a comparatively higher 15.98% annualized return.
CEBP.DE
- 1D
- 1.07%
- 1M
- 6.87%
- 6M
- 17.26%
- YTD
- 18.33%
- 1Y
- 30.12%
- 3Y*
- 17.21%
- 5Y*
- 14.39%
- 10Y*
- 13.04%
XB4A.DE
- 1D
- 1.02%
- 1M
- 8.17%
- 6M
- 25.41%
- YTD
- 26.47%
- 1Y
- 51.75%
- 3Y*
- 31.70%
- 5Y*
- 17.96%
- 10Y*
- 15.98%
CEBP.DE vs. XB4A.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEBP.DE iShares MSCI EMU USD Hedged UCITS ETF (Acc) | 18.33% | 12.28% | 17.61% | 17.66% | -3.75% | 33.16% | -8.03% | 34.07% | -6.38% | 1.04% |
XB4A.DE Xtrackers ATX UCITS ETF (Acc) | 26.47% | 51.29% | 11.01% | 14.27% | -16.45% | 42.39% | -10.86% | 19.79% | -17.99% | 32.88% |
Correlation
The correlation between CEBP.DE and XB4A.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 | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2015 | 0.65 |
The correlation between CEBP.DE and XB4A.DE has been stable across timeframes, ranging from 0.61 to 0.67 - a consistent structural relationship.
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Return for Risk
CEBP.DE vs. XB4A.DE — Risk / Return Rank
CEBP.DE
XB4A.DE
CEBP.DE vs. XB4A.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EMU USD Hedged UCITS ETF (Acc) (CEBP.DE) and Xtrackers ATX UCITS ETF (Acc) (XB4A.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CEBP.DE | XB4A.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.50 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.65 | 4.73 | -1.08 |
| Martin ratioReturn relative to average drawdown | 13.30 | 16.12 | -2.82 |
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Drawdowns
CEBP.DE vs. XB4A.DE - Drawdown Comparison
The maximum CEBP.DE drawdown since its inception was -38.05%, smaller than the maximum XB4A.DE drawdown of -53.54%. Use the drawdown chart below to compare losses from any high point for CEBP.DE and XB4A.DE.
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Drawdown Indicators
| CEBP.DE | XB4A.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.05% | -53.54% | +15.49% |
Max Drawdown (1Y)Largest decline over 1 year | -8.21% | -10.88% | +2.67% |
Max Drawdown (3Y)Largest decline over 3 years | -19.71% | -16.26% | -3.45% |
Max Drawdown (5Y)Largest decline over 5 years | -19.71% | -32.50% | +12.79% |
Max Drawdown (10Y)Largest decline over 10 years | -38.05% | -53.54% | +15.49% |
Current DrawdownCurrent decline from peak | 0.00% | -0.54% | +0.54% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -9.90% | +3.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 3.20% | -0.94% |
Volatility
CEBP.DE vs. XB4A.DE - Volatility Comparison
The current volatility for iShares MSCI EMU USD Hedged UCITS ETF (Acc) (CEBP.DE) is 3.22%, while Xtrackers ATX UCITS ETF (Acc) (XB4A.DE) has a volatility of 6.08%. This indicates that CEBP.DE experiences smaller price fluctuations and is considered to be less risky than XB4A.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEBP.DE | XB4A.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.22% | 6.08% | -2.86% |
Volatility (6M)Calculated over the trailing 6-month period | 11.02% | 14.73% | -3.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.68% | 17.53% | -2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.58% | 19.15% | -3.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.19% | 20.21% | -3.02% |
CEBP.DE vs. XB4A.DE - Expense Ratio Comparison
CEBP.DE has a 0.38% expense ratio, which is higher than XB4A.DE's 0.25% expense ratio.
Dividends
CEBP.DE vs. XB4A.DE - Dividend Comparison
Neither CEBP.DE nor XB4A.DE has paid dividends to shareholders.
Frequently Asked Questions
CEBP.DE and XB4A.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, XB4A.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XB4A.DE is cheaper with a 0.25% expense ratio, compared with 0.38% for CEBP.DE.
CEBP.DE tracks MSCI EMU 100% Hedged to USD Index, while XB4A.DE tracks ATX Index. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.38% for CEBP.DE and 0.25% for XB4A.DE.
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