CEMS.DE vs. AMES.DE
CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) and AMES.DE (Amundi ETF MSCI Spain UCITS ETF EUR) are both Europe Equities funds - CEMS.DE tracks the MSCI Europe Enhanced Value while AMES.DE tracks the MSCI Spain. Both are passively managed. Over the past 10 years, CEMS.DE returned 12.21%/yr vs 13.44%/yr for AMES.DE. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.
Performance
CEMS.DE vs. AMES.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CEMS.DE achieves a 15.97% return, which is significantly higher than AMES.DE's 14.53% return. Over the past 10 years, CEMS.DE has underperformed AMES.DE with an annualized return of 12.21%, while AMES.DE has yielded a comparatively higher 13.44% annualized return.
CEMS.DE
- 1D
- 1.47%
- 1M
- 1.40%
- YTD
- 15.97%
- 6M
- 16.95%
- 1Y
- 37.59%
- 3Y*
- 22.65%
- 5Y*
- 14.97%
- 10Y*
- 12.21%
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%
CEMS.DE vs. AMES.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEMS.DE iShares Edge MSCI Europe Value Factor UCITS ETF | 15.97% | 36.00% | 9.92% | 13.88% | -4.51% | 26.64% | -8.83% | 23.35% | -14.05% | 10.13% |
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 CEMS.DE and AMES.DE is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015 | 0.82 |
The correlation between CEMS.DE and AMES.DE has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.
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Return for Risk
CEMS.DE vs. AMES.DE — Risk / Return Rank
CEMS.DE
AMES.DE
CEMS.DE vs. AMES.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.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.
| CEMS.DE | AMES.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.50 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 4.64 | -0.90 |
| Martin ratioReturn relative to average drawdown | 14.09 | 16.40 | -2.31 |
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Drawdowns
CEMS.DE vs. AMES.DE - Drawdown Comparison
The maximum CEMS.DE drawdown since its inception was -40.22%, roughly equal to the maximum AMES.DE drawdown of -40.98%. Use the drawdown chart below to compare losses from any high point for CEMS.DE and AMES.DE.
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Drawdown Indicators
| CEMS.DE | AMES.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.22% | -40.98% | +0.76% |
Max Drawdown (1Y)Largest decline over 1 year | -10.02% | -9.95% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -17.61% | -12.58% | -5.03% |
Max Drawdown (5Y)Largest decline over 5 years | -19.56% | -17.77% | -1.79% |
Max Drawdown (10Y)Largest decline over 10 years | -40.22% | -40.98% | +0.76% |
Current DrawdownCurrent decline from peak | 0.00% | -0.10% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -10.09% | +2.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 2.82% | -0.16% |
Volatility
CEMS.DE vs. AMES.DE - Volatility Comparison
iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.DE) and Amundi ETF MSCI Spain UCITS ETF EUR (AMES.DE) have volatilities of 3.86% and 4.04%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEMS.DE | AMES.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.86% | 4.04% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 11.64% | 13.99% | -2.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.09% | 16.47% | -2.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.29% | 16.97% | -1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.18% | 18.42% | -1.24% |
CEMS.DE vs. AMES.DE - Expense Ratio Comparison
Both CEMS.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
CEMS.DE vs. AMES.DE - Dividend Comparison
Neither CEMS.DE nor AMES.DE has paid dividends to shareholders.
Frequently Asked Questions
CEMS.DE and AMES.DE have a correlation of 0.81, 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.
CEMS.DE and AMES.DE have the same expense ratio: 0.25% per year.
CEMS.DE tracks MSCI Europe Enhanced Value, while AMES.DE tracks MSCI Spain. They also come from different issuers: iShares and Amundi.
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