CEMR.DE vs. PEX
CEMR.DE (iShares Edge MSCI Europe Momentum Factor UCITS ETF) and PEX (ProShares Global Listed Private Equity ETF) are both exchange-traded funds - CEMR.DE is a Momentum fund tracking the MSCI Europe Momentum Index, while PEX is a Financials Equities fund tracking the LPX Direct Listed Private Equity Index. Both are passively managed. Over the past 10 years, CEMR.DE returned 12.09%/yr vs 4.22%/yr for PEX. A 0.50 correlation means they provide meaningful diversification when combined. CEMR.DE charges 0.25%/yr vs 3.13%/yr for PEX.
Performance
CEMR.DE vs. PEX - Performance Comparison
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Different Trading Currencies
CEMR.DE is traded in EUR, while PEX is traded in USD. To make them comparable, the PEX values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, CEMR.DE achieves a 9.13% return, which is significantly higher than PEX's -9.29% return. Over the past 10 years, CEMR.DE has outperformed PEX with an annualized return of 12.09%, while PEX has yielded a comparatively lower 4.22% annualized return.
CEMR.DE
- 1D
- 1.92%
- 1M
- 4.26%
- YTD
- 9.13%
- 6M
- 12.45%
- 1Y
- 21.56%
- 3Y*
- 20.31%
- 5Y*
- 11.56%
- 10Y*
- 12.09%
PEX
- 1D
- 0.76%
- 1M
- 2.04%
- YTD
- -9.29%
- 6M
- -8.85%
- 1Y
- -11.81%
- 3Y*
- 1.13%
- 5Y*
- 0.10%
- 10Y*
- 4.22%
CEMR.DE vs. PEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEMR.DE iShares Edge MSCI Europe Momentum Factor UCITS ETF | 9.13% | 27.25% | 20.02% | 12.77% | -15.32% | 22.13% | 10.84% | 31.55% | -10.67% | 11.55% |
PEX ProShares Global Listed Private Equity ETF | -9.29% | -11.68% | 20.52% | 19.42% | -21.39% | 37.94% | -9.29% | 28.37% | -9.24% | 0.28% |
Correlation
The correlation between CEMR.DE and PEX 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 (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015 | 0.50 |
The correlation between CEMR.DE and PEX shifts across timeframes, from 0.32 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CEMR.DE vs. PEX — Risk / Return Rank
CEMR.DE
PEX
CEMR.DE vs. PEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Momentum Factor UCITS ETF (CEMR.DE) and ProShares Global Listed Private Equity ETF (PEX). 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.
| CEMR.DE | PEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.02 | ||
| Sortino ratioReturn per unit of downside risk | +2.92 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.87 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | -0.55 | +2.32 |
| Martin ratioReturn relative to average drawdown | 6.68 | -1.05 | +7.73 |
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Drawdowns
CEMR.DE vs. PEX - Drawdown Comparison
The maximum CEMR.DE drawdown since its inception was -31.80%, smaller than the maximum PEX drawdown of -48.83%. Use the drawdown chart below to compare losses from any high point for CEMR.DE and PEX.
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Drawdown Indicators
| CEMR.DE | PEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.80% | -48.83% | +17.03% |
Max Drawdown (1Y)Largest decline over 1 year | -11.75% | -23.13% | +11.38% |
Max Drawdown (3Y)Largest decline over 3 years | -15.72% | -28.84% | +13.12% |
Max Drawdown (5Y)Largest decline over 5 years | -23.77% | -28.84% | +5.07% |
Max Drawdown (10Y)Largest decline over 10 years | -31.80% | -48.83% | +17.03% |
Current DrawdownCurrent decline from peak | -0.31% | -24.07% | +23.76% |
Average DrawdownAverage peak-to-trough decline | -6.02% | -8.09% | +2.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 12.13% | -9.02% |
Volatility
CEMR.DE vs. PEX - Volatility Comparison
iShares Edge MSCI Europe Momentum Factor UCITS ETF (CEMR.DE) has a higher volatility of 4.79% compared to ProShares Global Listed Private Equity ETF (PEX) at 4.53%. This indicates that CEMR.DE's price experiences larger fluctuations and is considered to be riskier than PEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEMR.DE | PEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.79% | 4.53% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 14.87% | 12.79% | +2.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.46% | 15.33% | +2.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.43% | 16.65% | -0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 18.77% | -2.29% |
CEMR.DE vs. PEX - Expense Ratio Comparison
CEMR.DE has a 0.25% expense ratio, which is lower than PEX's 3.13% expense ratio.
Dividends
CEMR.DE vs. PEX - Dividend Comparison
CEMR.DE has not paid dividends to shareholders, while PEX's dividend yield for the trailing twelve months is around 12.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEMR.DE iShares Edge MSCI Europe Momentum 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% |
PEX ProShares Global Listed Private Equity ETF | 12.55% | 12.80% | 14.11% | 13.02% | 1.77% | 13.64% | 5.52% | 7.94% | 4.72% | 24.26% | 3.24% | 12.50% |
Frequently Asked Questions
CEMR.DE and PEX 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, CEMR.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEMR.DE is cheaper with a 0.25% expense ratio, compared with 3.13% for PEX.
CEMR.DE is categorized as Momentum, while PEX is Financials Equities. CEMR.DE tracks MSCI Europe Momentum Index, while PEX tracks LPX Direct Listed Private Equity Index. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.25% for CEMR.DE and 3.13% for PEX.
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