CEMS.DE vs. PHSP.L
CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) and PHSP.L (WisdomTree Physical Silver) are both exchange-traded funds - CEMS.DE is a Europe Equities fund tracking the MSCI Europe Enhanced Value, while PHSP.L is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, CEMS.DE returned 11.60%/yr vs 13.07%/yr for PHSP.L. At a 0.14 correlation, their price movements are largely independent. CEMS.DE charges 0.25%/yr vs 0.49%/yr for PHSP.L.
Performance
CEMS.DE vs. PHSP.L - Performance Comparison
Loading charts...
Different Trading Currencies
CEMS.DE is traded in EUR, while PHSP.L is traded in GBp. To make them comparable, the PHSP.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, CEMS.DE achieves a 14.37% return, which is significantly higher than PHSP.L's -9.00% return. Over the past 10 years, CEMS.DE has underperformed PHSP.L with an annualized return of 11.60%, while PHSP.L has yielded a comparatively higher 13.07% annualized return.
CEMS.DE
- 1D
- 2.48%
- 1M
- 3.42%
- YTD
- 14.37%
- 6M
- 17.13%
- 1Y
- 32.78%
- 3Y*
- 21.17%
- 5Y*
- 14.39%
- 10Y*
- 11.60%
PHSP.L
- 1D
- 0.00%
- 1M
- -26.47%
- YTD
- -9.00%
- 6M
- 5.61%
- 1Y
- 76.30%
- 3Y*
- 35.38%
- 5Y*
- 18.58%
- 10Y*
- 13.07%
CEMS.DE vs. PHSP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEMS.DE iShares Edge MSCI Europe Value Factor UCITS ETF | 14.37% | 36.00% | 9.92% | 13.88% | -4.51% | 26.64% | -8.83% | 23.35% | -14.05% | 10.13% |
PHSP.L WisdomTree Physical Silver | -4.50% | 117.70% | 28.78% | -4.53% | 9.55% | -6.39% | 33.20% | 19.73% | -4.74% | -9.39% |
Correlation
The correlation between CEMS.DE and PHSP.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015 | 0.14 |
The correlation between CEMS.DE and PHSP.L shifts across timeframes, from 0.13 (10 years) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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
CEMS.DE vs. PHSP.L — Risk / Return Rank
CEMS.DE
PHSP.L
CEMS.DE vs. PHSP.L - 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 WisdomTree Physical Silver (PHSP.L). 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 | PHSP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.27 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 1.81 | +1.45 |
| Martin ratioReturn relative to average drawdown | 12.19 | 4.02 | +8.17 |
Loading charts...
Drawdowns
CEMS.DE vs. PHSP.L - Drawdown Comparison
The maximum CEMS.DE drawdown since its inception was -40.22%, smaller than the maximum PHSP.L drawdown of -71.39%. Use the drawdown chart below to compare losses from any high point for CEMS.DE and PHSP.L.
Loading charts...
Drawdown Indicators
| CEMS.DE | PHSP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.22% | -71.39% | +31.17% |
Max Drawdown (1Y)Largest decline over 1 year | -10.02% | -41.90% | +31.88% |
Max Drawdown (3Y)Largest decline over 3 years | -17.61% | -41.90% | +24.29% |
Max Drawdown (5Y)Largest decline over 5 years | -19.56% | -41.90% | +22.34% |
Max Drawdown (10Y)Largest decline over 10 years | -40.22% | -42.19% | +1.97% |
Current DrawdownCurrent decline from peak | -0.66% | -41.90% | +41.24% |
Average DrawdownAverage peak-to-trough decline | -7.50% | -42.75% | +35.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 18.91% | -16.23% |
Volatility
CEMS.DE vs. PHSP.L - Volatility Comparison
The current volatility for iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.DE) is 4.88%, while WisdomTree Physical Silver (PHSP.L) has a volatility of 13.12%. This indicates that CEMS.DE experiences smaller price fluctuations and is considered to be less risky than PHSP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CEMS.DE | PHSP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.88% | 13.12% | -8.24% |
Volatility (6M)Calculated over the trailing 6-month period | 11.54% | 51.67% | -40.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.15% | 54.58% | -40.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.31% | 36.56% | -21.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.46% | 30.94% | -13.48% |
CEMS.DE vs. PHSP.L - Expense Ratio Comparison
CEMS.DE has a 0.25% expense ratio, which is lower than PHSP.L's 0.49% expense ratio.
Dividends
CEMS.DE vs. PHSP.L - Dividend Comparison
Neither CEMS.DE nor PHSP.L has paid dividends to shareholders.
Frequently Asked Questions
CEMS.DE and PHSP.L have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEMS.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEMS.DE is cheaper with a 0.25% expense ratio, compared with 0.49% for PHSP.L.
CEMS.DE is categorized as Europe Equities, while PHSP.L is Silver. CEMS.DE tracks MSCI Europe Enhanced Value, while PHSP.L tracks LBMA Silver Price. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.25% for CEMS.DE and 0.49% for PHSP.L.
Find the right allocation for CEMS.DE and PHSP.L
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