CEMQ.DE vs. XESD.DE
CEMQ.DE (iShares Edge MSCI Europe Quality Factor UCITS ETF) and XESD.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - CEMQ.DE tracks the MSCI Europe Sector Neutral Quality while XESD.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 10 years, CEMQ.DE returned 9.22%/yr vs 14.01%/yr for XESD.DE. A 0.70 correlation means they provide meaningful diversification when combined. CEMQ.DE charges 0.25%/yr vs 0.30%/yr for XESD.DE.
Performance
CEMQ.DE vs. XESD.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 XESD.DE's 14.69% return. Over the past 10 years, CEMQ.DE has underperformed XESD.DE with an annualized return of 9.22%, while XESD.DE has yielded a comparatively higher 14.01% 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%
XESD.DE
- 1D
- 0.62%
- 1M
- 6.78%
- YTD
- 14.69%
- 6M
- 15.76%
- 1Y
- 47.75%
- 3Y*
- 32.29%
- 5Y*
- 20.35%
- 10Y*
- 14.01%
CEMQ.DE vs. XESD.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% |
XESD.DE Xtrackers Spanish Equity UCITS ETF | 14.69% | 58.72% | 14.57% | 26.76% | -1.63% | 10.91% | -10.10% | 15.69% | -12.39% | 12.92% |
Correlation
The correlation between CEMQ.DE and XESD.DE is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015 | 0.70 |
The correlation between CEMQ.DE and XESD.DE has been stable across timeframes, ranging from 0.62 to 0.70 - a consistent structural relationship.
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Return for Risk
CEMQ.DE vs. XESD.DE — Risk / Return Rank
CEMQ.DE
XESD.DE
CEMQ.DE vs. XESD.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 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.
| CEMQ.DE | XESD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.50 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 4.62 | -2.95 |
| Martin ratioReturn relative to average drawdown | 5.35 | 16.31 | -10.97 |
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Drawdowns
CEMQ.DE vs. XESD.DE - Drawdown Comparison
The maximum CEMQ.DE drawdown since its inception was -33.76%, smaller than the maximum XESD.DE drawdown of -38.76%. Use the drawdown chart below to compare losses from any high point for CEMQ.DE and XESD.DE.
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Drawdown Indicators
| CEMQ.DE | XESD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.76% | -38.76% | +5.00% |
Max Drawdown (1Y)Largest decline over 1 year | -8.38% | -10.28% | +1.90% |
Max Drawdown (3Y)Largest decline over 3 years | -14.96% | -12.49% | -2.47% |
Max Drawdown (5Y)Largest decline over 5 years | -19.65% | -18.55% | -1.10% |
Max Drawdown (10Y)Largest decline over 10 years | -33.76% | -38.76% | +5.00% |
Current DrawdownCurrent decline from peak | 0.00% | -0.18% | +0.18% |
Average DrawdownAverage peak-to-trough decline | -5.33% | -8.46% | +3.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.63% | 2.92% | -0.29% |
Volatility
CEMQ.DE vs. XESD.DE - Volatility Comparison
The current volatility for iShares Edge MSCI Europe Quality Factor UCITS ETF (CEMQ.DE) is 2.85%, while Xtrackers Spanish Equity UCITS ETF (XESD.DE) has a volatility of 4.05%. This indicates that CEMQ.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
| CEMQ.DE | XESD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.85% | 4.05% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 9.70% | 14.41% | -4.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.05% | 17.06% | -5.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.04% | 16.77% | -2.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.81% | 18.49% | -3.68% |
CEMQ.DE vs. XESD.DE - Expense Ratio Comparison
CEMQ.DE has a 0.25% expense ratio, which is lower than XESD.DE's 0.30% expense ratio.
Dividends
CEMQ.DE vs. XESD.DE - Dividend Comparison
CEMQ.DE has not paid dividends to shareholders, while XESD.DE's dividend yield for the trailing twelve months is around 2.34%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEMQ.DE iShares Edge MSCI Europe Quality Factor UCITS ETF | 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 | 2.34% | 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
CEMQ.DE and XESD.DE have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEMQ.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEMQ.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for XESD.DE.
CEMQ.DE tracks MSCI Europe Sector Neutral Quality, while XESD.DE tracks Solactive Spain 40. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.25% for CEMQ.DE and 0.30% for XESD.DE.
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