CEMS.DE vs. H4ZZ.DE
CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) and H4ZZ.DE (HSBC Euro Stoxx 50 UCITS ETF EUR (Acc)) are both Europe Equities funds - CEMS.DE tracks the MSCI Europe Enhanced Value while H4ZZ.DE tracks the EURO STOXX 50. Both are passively managed. Over the past year, CEMS.DE returned 37.59% vs 22.41% for H4ZZ.DE. Their correlation of 0.88 suggests significant overlap in exposure. CEMS.DE charges 0.25%/yr vs 0.05%/yr for H4ZZ.DE.
Performance
CEMS.DE vs. H4ZZ.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 H4ZZ.DE's 10.19% 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%
H4ZZ.DE
- 1D
- 0.79%
- 1M
- 3.49%
- YTD
- 10.19%
- 6M
- 11.16%
- 1Y
- 22.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CEMS.DE vs. H4ZZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CEMS.DE iShares Edge MSCI Europe Value Factor UCITS ETF | 15.97% | 36.00% | -1.13% |
H4ZZ.DE HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) | 10.19% | 22.35% | -2.42% |
Correlation
The correlation between CEMS.DE and H4ZZ.DE is 0.87, 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 | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2024 | 0.88 |
The correlation between CEMS.DE and H4ZZ.DE has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.
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Return for Risk
CEMS.DE vs. H4ZZ.DE — Risk / Return Rank
CEMS.DE
H4ZZ.DE
CEMS.DE vs. H4ZZ.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 HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.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 | H4ZZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.26 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.26 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 2.04 | +1.70 |
| Martin ratioReturn relative to average drawdown | 14.09 | 7.07 | +7.02 |
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Drawdowns
CEMS.DE vs. H4ZZ.DE - Drawdown Comparison
The maximum CEMS.DE drawdown since its inception was -40.22%, which is greater than H4ZZ.DE's maximum drawdown of -16.46%. Use the drawdown chart below to compare losses from any high point for CEMS.DE and H4ZZ.DE.
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Drawdown Indicators
| CEMS.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.22% | -16.46% | -23.76% |
Max Drawdown (1Y)Largest decline over 1 year | -10.02% | -10.94% | +0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -17.61% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -19.56% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -40.22% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.83% | +0.83% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -2.66% | -4.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 3.16% | -0.50% |
Volatility
CEMS.DE vs. H4ZZ.DE - Volatility Comparison
iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.DE) has a higher volatility of 3.86% compared to HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.DE) at 3.53%. This indicates that CEMS.DE's price experiences larger fluctuations and is considered to be riskier than H4ZZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEMS.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.86% | 3.53% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 11.64% | 13.18% | -1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.09% | 15.98% | -1.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.29% | 16.81% | -1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.18% | 16.81% | +0.37% |
CEMS.DE vs. H4ZZ.DE - Expense Ratio Comparison
CEMS.DE has a 0.25% expense ratio, which is higher than H4ZZ.DE's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CEMS.DE vs. H4ZZ.DE - Dividend Comparison
Neither CEMS.DE nor H4ZZ.DE has paid dividends to shareholders.
Frequently Asked Questions
CEMS.DE and H4ZZ.DE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZZ.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZZ.DE is cheaper with a 0.05% expense ratio, compared with 0.25% for CEMS.DE.
CEMS.DE tracks MSCI Europe Enhanced Value, while H4ZZ.DE tracks EURO STOXX 50. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.25% for CEMS.DE and 0.05% for H4ZZ.DE.
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