CEE vs. EEA
CEE (The Central and Eastern Europe Fund) and EEA (The European Equity Fund) are both Europe Equities funds. Over the past 10 years, CEE returned 5.13%/yr vs 8.60%/yr for EEA. At a 0.42 correlation, their price movements are largely independent. CEE charges 1.26%/yr vs 0.01%/yr for EEA.
Performance
CEE vs. EEA - Performance Comparison
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Returns By Period
In the year-to-date period, CEE achieves a 20.73% return, which is significantly higher than EEA's 6.26% return. Over the past 10 years, CEE has underperformed EEA with an annualized return of 5.13%, while EEA has yielded a comparatively higher 8.60% annualized return.
CEE
- 1D
- -1.43%
- 1M
- 1.96%
- YTD
- 20.73%
- 6M
- 27.60%
- 1Y
- 49.53%
- 3Y*
- 35.60%
- 5Y*
- -2.41%
- 10Y*
- 5.13%
EEA
- 1D
- -1.29%
- 1M
- 2.39%
- YTD
- 6.26%
- 6M
- 6.51%
- 1Y
- 17.97%
- 3Y*
- 13.18%
- 5Y*
- 6.24%
- 10Y*
- 8.60%
CEE vs. EEA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEE The Central and Eastern Europe Fund | 20.73% | 65.59% | 15.52% | 22.58% | -67.78% | 13.62% | -11.76% | 35.49% | -5.73% | 21.34% |
EEA The European Equity Fund | 6.26% | 36.10% | -3.53% | 17.24% | -18.97% | 14.19% | 13.54% | 28.55% | -21.00% | 29.01% |
Correlation
The correlation between CEE and EEA is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 1990 | 0.42 |
The correlation between CEE and EEA shifts across timeframes, from 0.30 (5 years) to 0.42 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CEE vs. EEA — Risk / Return Rank
CEE
EEA
CEE vs. EEA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Central and Eastern Europe Fund (CEE) and The European Equity Fund (EEA). 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.
| CEE | EEA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.21 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.43 | 1.34 | +2.09 |
| Martin ratioReturn relative to average drawdown | 7.67 | 4.38 | +3.29 |
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Drawdowns
CEE vs. EEA - Drawdown Comparison
The maximum CEE drawdown since its inception was -82.98%, which is greater than EEA's maximum drawdown of -72.28%. Use the drawdown chart below to compare losses from any high point for CEE and EEA.
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Drawdown Indicators
| CEE | EEA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.98% | -72.28% | -10.70% |
Max Drawdown (1Y)Largest decline over 1 year | -14.51% | -13.45% | -1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -22.22% | -16.30% | -5.92% |
Max Drawdown (5Y)Largest decline over 5 years | -79.89% | -37.51% | -42.38% |
Max Drawdown (10Y)Largest decline over 10 years | -79.89% | -41.54% | -38.35% |
Current DrawdownCurrent decline from peak | -32.83% | -1.84% | -30.99% |
Average DrawdownAverage peak-to-trough decline | -37.35% | -29.77% | -7.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.48% | 4.11% | +2.37% |
Volatility
CEE vs. EEA - Volatility Comparison
The Central and Eastern Europe Fund (CEE) has a higher volatility of 6.03% compared to The European Equity Fund (EEA) at 4.35%. This indicates that CEE's price experiences larger fluctuations and is considered to be riskier than EEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEE | EEA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.03% | 4.35% | +1.68% |
Volatility (6M)Calculated over the trailing 6-month period | 18.70% | 12.77% | +5.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.25% | 15.50% | +10.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.12% | 18.16% | +20.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.53% | 19.43% | +13.10% |
CEE vs. EEA - Expense Ratio Comparison
CEE has a 1.26% expense ratio, which is higher than EEA's 0.01% expense ratio.
Dividends
CEE vs. EEA - Dividend Comparison
CEE's dividend yield for the trailing twelve months is around 1.81%, less than EEA's 9.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEE The Central and Eastern Europe Fund | 1.81% | 2.19% | 3.23% | 3.74% | 2.89% | 3.61% | 3.82% | 5.17% | 4.58% | 2.30% | 1.56% | 2.92% |
EEA The European Equity Fund | 9.03% | 7.55% | 2.19% | 1.99% | 11.60% | 14.42% | 1.86% | 5.49% | 0.95% | 0.87% | 0.97% | 2.10% |
Frequently Asked Questions
CEE and EEA have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEE has higher volatility (6.03%) compared to EEA (4.35%). In terms of maximum drawdown, CEE dropped -82.98% vs EEA's -72.28%.
CEE currently has the higher Sharpe Ratio (1.92 vs 1.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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