CEMQ.DE vs. AMES.DE
CEMQ.DE (iShares Edge MSCI Europe Quality Factor UCITS ETF) and AMES.DE (Amundi ETF MSCI Spain UCITS ETF EUR) are both Europe Equities funds - CEMQ.DE tracks the MSCI Europe Sector Neutral Quality while AMES.DE tracks the MSCI Spain. Both are passively managed. Over the past 10 years, CEMQ.DE returned 9.22%/yr vs 13.44%/yr for AMES.DE. A 0.69 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.
Performance
CEMQ.DE vs. AMES.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CEMQ.DE achieves a 7.72% return, which is significantly lower than AMES.DE's 14.53% return. Over the past 10 years, CEMQ.DE has underperformed AMES.DE with an annualized return of 9.22%, while AMES.DE has yielded a comparatively higher 13.44% annualized return.
CEMQ.DE
- 1D
- 0.76%
- 1M
- 2.13%
- YTD
- 7.72%
- 6M
- 8.21%
- 1Y
- 14.07%
- 3Y*
- 9.66%
- 5Y*
- 6.23%
- 10Y*
- 9.22%
AMES.DE
- 1D
- 0.72%
- 1M
- 7.06%
- YTD
- 14.53%
- 6M
- 15.44%
- 1Y
- 46.37%
- 3Y*
- 32.90%
- 5Y*
- 20.69%
- 10Y*
- 13.44%
CEMQ.DE vs. AMES.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEMQ.DE iShares Edge MSCI Europe Quality Factor UCITS ETF | 7.72% | 10.19% | 3.69% | 14.57% | -11.90% | 26.61% | 1.06% | 32.46% | -7.32% | 10.41% |
AMES.DE Amundi ETF MSCI Spain UCITS ETF EUR | 14.53% | 55.41% | 19.00% | 26.86% | -0.71% | 6.98% | -12.87% | 15.76% | -12.77% | 11.84% |
Correlation
The correlation between CEMQ.DE and AMES.DE is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015 | 0.69 |
The correlation between CEMQ.DE and AMES.DE has been stable across timeframes, ranging from 0.63 to 0.69 - a consistent structural relationship.
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Return for Risk
CEMQ.DE vs. AMES.DE — Risk / Return Rank
CEMQ.DE
AMES.DE
CEMQ.DE vs. AMES.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Quality Factor UCITS ETF (CEMQ.DE) and Amundi ETF MSCI Spain UCITS ETF EUR (AMES.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.
| CEMQ.DE | AMES.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -2.07 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.50 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 4.64 | -2.97 |
| Martin ratioReturn relative to average drawdown | 5.35 | 16.40 | -11.05 |
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Drawdowns
CEMQ.DE vs. AMES.DE - Drawdown Comparison
The maximum CEMQ.DE drawdown since its inception was -33.76%, smaller than the maximum AMES.DE drawdown of -40.98%. Use the drawdown chart below to compare losses from any high point for CEMQ.DE and AMES.DE.
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Drawdown Indicators
| CEMQ.DE | AMES.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.76% | -40.98% | +7.22% |
Max Drawdown (1Y)Largest decline over 1 year | -8.38% | -9.95% | +1.57% |
Max Drawdown (3Y)Largest decline over 3 years | -14.96% | -12.58% | -2.38% |
Max Drawdown (5Y)Largest decline over 5 years | -19.65% | -17.77% | -1.88% |
Max Drawdown (10Y)Largest decline over 10 years | -33.76% | -40.98% | +7.22% |
Current DrawdownCurrent decline from peak | 0.00% | -0.10% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -5.33% | -10.09% | +4.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.63% | 2.82% | -0.19% |
Volatility
CEMQ.DE vs. AMES.DE - Volatility Comparison
The current volatility for iShares Edge MSCI Europe Quality Factor UCITS ETF (CEMQ.DE) is 2.85%, while Amundi ETF MSCI Spain UCITS ETF EUR (AMES.DE) has a volatility of 4.04%. This indicates that CEMQ.DE experiences smaller price fluctuations and is considered to be less risky than AMES.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEMQ.DE | AMES.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.85% | 4.04% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 9.70% | 13.99% | -4.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.05% | 16.47% | -4.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.04% | 16.97% | -2.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.81% | 18.42% | -3.61% |
CEMQ.DE vs. AMES.DE - Expense Ratio Comparison
Both CEMQ.DE and AMES.DE have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
CEMQ.DE vs. AMES.DE - Dividend Comparison
Neither CEMQ.DE nor AMES.DE has paid dividends to shareholders.
Frequently Asked Questions
CEMQ.DE and AMES.DE have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
CEMQ.DE and AMES.DE have the same expense ratio: 0.25% per year.
CEMQ.DE tracks MSCI Europe Sector Neutral Quality, while AMES.DE tracks MSCI Spain. They also come from different issuers: iShares and Amundi.
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