CEBP.DE vs. XESD.DE
CEBP.DE (iShares MSCI EMU USD Hedged UCITS ETF (Acc)) and XESD.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - CEBP.DE tracks the MSCI EMU 100% Hedged to USD Index while XESD.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 10 years, CEBP.DE returned 12.11%/yr vs 12.70%/yr for XESD.DE. A 0.72 correlation means they provide meaningful diversification when combined. CEBP.DE charges 0.38%/yr vs 0.30%/yr for XESD.DE.
Performance
CEBP.DE vs. XESD.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with CEBP.DE having a 14.84% return and XESD.DE slightly lower at 14.19%. Both investments have delivered pretty close results over the past 10 years, with CEBP.DE having a 12.11% annualized return and XESD.DE not far ahead at 12.70%.
CEBP.DE
- 1D
- -0.77%
- 1M
- -0.54%
- 6M
- 8.97%
- YTD
- 14.84%
- 1Y
- 23.72%
- 3Y*
- 17.15%
- 5Y*
- 13.84%
- 10Y*
- 12.11%
XESD.DE
- 1D
- -0.55%
- 1M
- 0.24%
- 6M
- 11.25%
- YTD
- 14.19%
- 1Y
- 44.04%
- 3Y*
- 30.71%
- 5Y*
- 21.64%
- 10Y*
- 12.70%
CEBP.DE vs. XESD.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) | 14.84% | 12.28% | 17.61% | 17.66% | -3.75% | 33.16% | -8.03% | 34.07% | -6.38% | 1.04% |
XESD.DE Xtrackers Spanish Equity UCITS ETF | 14.19% | 58.72% | 14.57% | 26.76% | -1.63% | 10.91% | -10.10% | 15.69% | -12.39% | 12.92% |
Correlation
The correlation between CEBP.DE and XESD.DE is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2015 | 0.72 |
The correlation between CEBP.DE and XESD.DE has been stable across timeframes, ranging from 0.64 to 0.72 - a consistent structural relationship.
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Return for Risk
CEBP.DE vs. XESD.DE — Risk / Return Rank
CEBP.DE
XESD.DE
CEBP.DE vs. XESD.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 Spanish Equity UCITS ETF (XESD.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 | XESD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.46 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 4.27 | -1.39 |
| Martin ratioReturn relative to average drawdown | 10.40 | 15.02 | -4.62 |
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Drawdowns
CEBP.DE vs. XESD.DE - Drawdown Comparison
The maximum CEBP.DE drawdown since its inception was -38.05%, roughly equal to the maximum XESD.DE drawdown of -38.76%. Use the drawdown chart below to compare losses from any high point for CEBP.DE and XESD.DE.
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Drawdown Indicators
| CEBP.DE | XESD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.05% | -38.76% | +0.71% |
Max Drawdown (1Y)Largest decline over 1 year | -8.21% | -10.28% | +2.07% |
Max Drawdown (3Y)Largest decline over 3 years | -19.71% | -12.49% | -7.22% |
Max Drawdown (5Y)Largest decline over 5 years | -19.71% | -18.55% | -1.16% |
Max Drawdown (10Y)Largest decline over 10 years | -38.05% | -38.76% | +0.71% |
Current DrawdownCurrent decline from peak | -2.95% | -2.69% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -6.56% | -8.43% | +1.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.27% | 2.92% | -0.65% |
Volatility
CEBP.DE vs. XESD.DE - Volatility Comparison
The current volatility for iShares MSCI EMU USD Hedged UCITS ETF (Acc) (CEBP.DE) is 3.47%, while Xtrackers Spanish Equity UCITS ETF (XESD.DE) has a volatility of 4.12%. This indicates that CEBP.DE experiences smaller price fluctuations and is considered to be less risky than XESD.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 | XESD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.47% | 4.12% | -0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 11.01% | 14.78% | -3.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.57% | 17.11% | -2.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.56% | 16.73% | -1.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.17% | 18.41% | -1.24% |
CEBP.DE vs. XESD.DE - Expense Ratio Comparison
CEBP.DE has a 0.38% expense ratio, which is higher than XESD.DE's 0.30% expense ratio.
Dividends
CEBP.DE vs. XESD.DE - Dividend Comparison
CEBP.DE has not paid dividends to shareholders, while XESD.DE's dividend yield for the trailing twelve months is around 2.35%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEBP.DE iShares MSCI EMU USD Hedged UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XESD.DE Xtrackers Spanish Equity UCITS ETF | 2.35% | 2.43% | 3.14% | 2.56% | 3.98% | 1.51% | 4.30% | 3.35% | 4.48% | 2.51% | 1.14% | 0.42% |
Frequently Asked Questions
CEBP.DE and XESD.DE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XESD.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XESD.DE is cheaper with a 0.30% expense ratio, compared with 0.38% for CEBP.DE.
CEBP.DE tracks MSCI EMU 100% Hedged to USD Index, while XESD.DE tracks Solactive Spain 40. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.38% for CEBP.DE and 0.30% for XESD.DE.
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