CEMQ.DE vs. XESP.DE
CEMQ.DE (iShares Edge MSCI Europe Quality Factor UCITS ETF) and XESP.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - CEMQ.DE tracks the MSCI Europe Sector Neutral Quality while XESP.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 10 years, CEMQ.DE returned 9.22%/yr vs 14.03%/yr for XESP.DE. A 0.70 correlation means they provide meaningful diversification when combined. CEMQ.DE charges 0.25%/yr vs 0.30%/yr for XESP.DE.
Performance
CEMQ.DE vs. XESP.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CEMQ.DE achieves a 7.72% return, which is significantly lower than XESP.DE's 14.86% return. Over the past 10 years, CEMQ.DE has underperformed XESP.DE with an annualized return of 9.22%, while XESP.DE has yielded a comparatively higher 14.03% 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%
XESP.DE
- 1D
- 0.87%
- 1M
- 6.89%
- YTD
- 14.86%
- 6M
- 15.90%
- 1Y
- 48.43%
- 3Y*
- 32.37%
- 5Y*
- 20.37%
- 10Y*
- 14.03%
CEMQ.DE vs. XESP.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% |
XESP.DE Xtrackers Spanish Equity UCITS ETF | 14.86% | 58.64% | 14.63% | 26.81% | -1.62% | 10.85% | -10.20% | 15.89% | -12.41% | 12.92% |
Correlation
The correlation between CEMQ.DE and XESP.DE is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015 | 0.70 |
The correlation between CEMQ.DE and XESP.DE has been stable across timeframes, ranging from 0.63 to 0.70 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CEMQ.DE vs. XESP.DE — Risk / Return Rank
CEMQ.DE
XESP.DE
CEMQ.DE vs. XESP.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 (XESP.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 | XESP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.69 | ||
| Sortino ratioReturn per unit of downside risk | -2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.51 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 4.74 | -3.07 |
| Martin ratioReturn relative to average drawdown | 5.35 | 16.84 | -11.50 |
Loading charts...
Drawdowns
CEMQ.DE vs. XESP.DE - Drawdown Comparison
The maximum CEMQ.DE drawdown since its inception was -33.76%, smaller than the maximum XESP.DE drawdown of -40.70%. Use the drawdown chart below to compare losses from any high point for CEMQ.DE and XESP.DE.
Loading charts...
Drawdown Indicators
| CEMQ.DE | XESP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.76% | -40.70% | +6.94% |
Max Drawdown (1Y)Largest decline over 1 year | -8.38% | -10.17% | +1.79% |
Max Drawdown (3Y)Largest decline over 3 years | -14.96% | -12.92% | -2.04% |
Max Drawdown (5Y)Largest decline over 5 years | -19.65% | -18.56% | -1.09% |
Max Drawdown (10Y)Largest decline over 10 years | -33.76% | -39.03% | +5.27% |
Current DrawdownCurrent decline from peak | 0.00% | -0.10% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -5.33% | -10.06% | +4.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.63% | 2.87% | -0.24% |
Volatility
CEMQ.DE vs. XESP.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 (XESP.DE) has a volatility of 4.20%. This indicates that CEMQ.DE experiences smaller price fluctuations and is considered to be less risky than XESP.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CEMQ.DE | XESP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.85% | 4.20% | -1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 9.70% | 14.44% | -4.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.05% | 17.00% | -4.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.04% | 16.73% | -2.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.81% | 18.44% | -3.63% |
CEMQ.DE vs. XESP.DE - Expense Ratio Comparison
CEMQ.DE has a 0.25% expense ratio, which is lower than XESP.DE's 0.30% expense ratio.
Dividends
CEMQ.DE vs. XESP.DE - Dividend Comparison
Neither CEMQ.DE nor XESP.DE has paid dividends to shareholders.
Frequently Asked Questions
CEMQ.DE and XESP.DE have a correlation of 0.64, 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 XESP.DE.
CEMQ.DE tracks MSCI Europe Sector Neutral Quality, while XESP.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 XESP.DE.
Find the right allocation for CEMQ.DE and XESP.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer