CEBZ.DE vs. ED3F.DE
CEBZ.DE (iShares Core MSCI Europe UCITS ETF EUR (Acc)) and ED3F.DE (Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating) are both exchange-traded funds - CEBZ.DE is a Europe Equities fund tracking the MSCI Europe Index, while ED3F.DE is a Aerospace & Defense fund tracking the Mirae Asset Europe Defence Tech Index. Both are passively managed. Over the past year, CEBZ.DE returned 16.09% vs -1.88% for ED3F.DE. At a 0.32 correlation, their price movements are largely independent. CEBZ.DE charges 0.12%/yr vs 0.40%/yr for ED3F.DE.
Performance
CEBZ.DE vs. ED3F.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CEBZ.DE achieves a 7.37% return, which is significantly higher than ED3F.DE's 0.02% return.
CEBZ.DE
- 1D
- 0.58%
- 1M
- 3.21%
- YTD
- 7.37%
- 6M
- 9.72%
- 1Y
- 16.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ED3F.DE
- 1D
- -0.42%
- 1M
- -8.21%
- YTD
- 0.02%
- 6M
- 4.46%
- 1Y
- -1.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CEBZ.DE vs. ED3F.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CEBZ.DE iShares Core MSCI Europe UCITS ETF EUR (Acc) | 7.37% | 8.51% |
ED3F.DE Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating | 0.02% | 4.82% |
Correlation
The correlation between CEBZ.DE and ED3F.DE is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since May 23, 2025 | 0.32 |
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Return for Risk
CEBZ.DE vs. ED3F.DE — Risk / Return Rank
CEBZ.DE
ED3F.DE
CEBZ.DE vs. ED3F.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Europe UCITS ETF EUR (Acc) (CEBZ.DE) and Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating (ED3F.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.
| CEBZ.DE | ED3F.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.30 | ||
| Sortino ratioReturn per unit of downside risk | +1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.01 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | -0.08 | +1.75 |
| Martin ratioReturn relative to average drawdown | 6.29 | -0.18 | +6.47 |
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
| CEBZ.DE | ED3F.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.24 | -0.06 | +1.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.95 | 0.15 | +0.79 |
Drawdowns
CEBZ.DE vs. ED3F.DE - Drawdown Comparison
The maximum CEBZ.DE drawdown since its inception was -16.41%, smaller than the maximum ED3F.DE drawdown of -23.91%. Use the drawdown chart below to compare losses from any high point for CEBZ.DE and ED3F.DE.
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Drawdown Indicators
| CEBZ.DE | ED3F.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.41% | -23.91% | +7.50% |
Max Drawdown (1Y)Largest decline over 1 year | -9.57% | -23.91% | +14.34% |
Current DrawdownCurrent decline from peak | -1.61% | -20.80% | +19.19% |
Average DrawdownAverage peak-to-trough decline | -2.09% | -8.37% | +6.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.55% | 10.25% | -7.70% |
Volatility
CEBZ.DE vs. ED3F.DE - Volatility Comparison
The current volatility for iShares Core MSCI Europe UCITS ETF EUR (Acc) (CEBZ.DE) is 4.49%, while Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating (ED3F.DE) has a volatility of 10.58%. This indicates that CEBZ.DE experiences smaller price fluctuations and is considered to be less risky than ED3F.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEBZ.DE | ED3F.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.49% | 10.58% | -6.09% |
Volatility (6M)Calculated over the trailing 6-month period | 10.70% | 22.80% | -12.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.97% | 30.60% | -17.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.82% | 30.42% | -16.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.82% | 30.42% | -16.60% |
CEBZ.DE vs. ED3F.DE - Expense Ratio Comparison
CEBZ.DE has a 0.12% expense ratio, which is lower than ED3F.DE's 0.40% expense ratio.
Dividends
CEBZ.DE vs. ED3F.DE - Dividend Comparison
Neither CEBZ.DE nor ED3F.DE has paid dividends to shareholders.
Frequently Asked Questions
CEBZ.DE and ED3F.DE have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEBZ.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEBZ.DE is cheaper with a 0.12% expense ratio, compared with 0.40% for ED3F.DE.
CEBZ.DE is categorized as Europe Equities, while ED3F.DE is Aerospace & Defense. CEBZ.DE tracks MSCI Europe Index, while ED3F.DE tracks Mirae Asset Europe Defence Tech Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.12% for CEBZ.DE and 0.40% for ED3F.DE.
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