CEMS.DE vs. VHYL.AS
CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) and VHYL.AS (Vanguard FTSE All-World High Dividend Yield UCITS ETF - (USD) Distributing) are both exchange-traded funds - CEMS.DE is a Europe Equities fund tracking the MSCI Europe Enhanced Value, while VHYL.AS is a Global Equities fund tracking the FTSE All-World High Dividend Yield Index. Both are passively managed. Over the past 10 years, CEMS.DE returned 10.71%/yr vs 9.66%/yr for VHYL.AS. Their correlation of 0.83 suggests significant overlap in exposure. CEMS.DE charges 0.25%/yr vs 0.29%/yr for VHYL.AS.
Performance
CEMS.DE vs. VHYL.AS - Performance Comparison
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Returns By Period
In the year-to-date period, CEMS.DE achieves a 13.72% return, which is significantly higher than VHYL.AS's 12.61% return. Over the past 10 years, CEMS.DE has outperformed VHYL.AS with an annualized return of 10.71%, while VHYL.AS has yielded a comparatively lower 9.66% annualized return.
CEMS.DE
- 1D
- 0.10%
- 1M
- 2.64%
- YTD
- 13.72%
- 6M
- 16.98%
- 1Y
- 32.08%
- 3Y*
- 21.63%
- 5Y*
- 14.47%
- 10Y*
- 10.71%
VHYL.AS
- 1D
- 0.20%
- 1M
- 2.40%
- YTD
- 12.61%
- 6M
- 13.86%
- 1Y
- 25.26%
- 3Y*
- 15.90%
- 5Y*
- 11.50%
- 10Y*
- 9.66%
CEMS.DE vs. VHYL.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEMS.DE iShares Edge MSCI Europe Value Factor UCITS ETF | 13.72% | 35.97% | 9.93% | 13.90% | -4.54% | 26.62% | -8.86% | 23.48% | -14.04% | 10.16% |
VHYL.AS Vanguard FTSE All-World High Dividend Yield UCITS ETF - (USD) Distributing | 12.61% | 12.40% | 16.77% | 7.02% | 0.17% | 27.85% | -8.79% | 22.93% | -7.01% | 4.82% |
Correlation
The correlation between CEMS.DE and VHYL.AS is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2015 | 0.83 |
The correlation between CEMS.DE and VHYL.AS has been stable across timeframes, ranging from 0.74 to 0.83 - a consistent structural relationship.
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Return for Risk
CEMS.DE vs. VHYL.AS — Risk / Return Rank
CEMS.DE
VHYL.AS
CEMS.DE vs. VHYL.AS - 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 Vanguard FTSE All-World High Dividend Yield UCITS ETF - (USD) Distributing (VHYL.AS). 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.
| CEMS.DE | VHYL.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.51 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.29 | 4.17 | -0.87 |
| Martin ratioReturn relative to average drawdown | 12.37 | 15.90 | -3.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CEMS.DE | VHYL.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 2.71 | -0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.94 | 0.98 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.70 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.66 | -0.17 |
Drawdowns
CEMS.DE vs. VHYL.AS - Drawdown Comparison
The maximum CEMS.DE drawdown since its inception was -40.20%, which is greater than VHYL.AS's maximum drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for CEMS.DE and VHYL.AS.
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Drawdown Indicators
| CEMS.DE | VHYL.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.20% | -34.08% | -6.12% |
Max Drawdown (1Y)Largest decline over 1 year | -9.99% | -5.93% | -4.06% |
Max Drawdown (3Y)Largest decline over 3 years | -17.57% | -16.76% | -0.81% |
Max Drawdown (5Y)Largest decline over 5 years | -19.55% | -16.76% | -2.79% |
Max Drawdown (10Y)Largest decline over 10 years | -40.20% | -34.08% | -6.12% |
Current DrawdownCurrent decline from peak | -1.26% | -0.24% | -1.02% |
Average DrawdownAverage peak-to-trough decline | -7.49% | -4.34% | -3.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 1.56% | +1.10% |
Volatility
CEMS.DE vs. VHYL.AS - Volatility Comparison
iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.DE) has a higher volatility of 4.65% compared to Vanguard FTSE All-World High Dividend Yield UCITS ETF - (USD) Distributing (VHYL.AS) at 2.22%. This indicates that CEMS.DE's price experiences larger fluctuations and is considered to be riskier than VHYL.AS 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 | VHYL.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.65% | 2.22% | +2.43% |
Volatility (6M)Calculated over the trailing 6-month period | 11.17% | 6.95% | +4.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.87% | 9.10% | +4.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.23% | 11.57% | +3.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.43% | 13.59% | +3.84% |
CEMS.DE vs. VHYL.AS - Expense Ratio Comparison
CEMS.DE has a 0.25% expense ratio, which is lower than VHYL.AS's 0.29% expense ratio.
Dividends
CEMS.DE vs. VHYL.AS - Dividend Comparison
CEMS.DE has not paid dividends to shareholders, while VHYL.AS's dividend yield for the trailing twelve months is around 2.49%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEMS.DE iShares Edge MSCI Europe Value 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% |
VHYL.AS Vanguard FTSE All-World High Dividend Yield UCITS ETF - (USD) Distributing | 2.49% | 2.85% | 3.03% | 3.40% | 3.78% | 3.03% | 3.08% | 3.24% | 3.68% | 3.13% | 3.02% | 3.25% |
Frequently Asked Questions
CEMS.DE and VHYL.AS have a correlation of 0.80, 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 0.29% for VHYL.AS.
CEMS.DE is categorized as Europe Equities, while VHYL.AS is Global Equities. CEMS.DE tracks MSCI Europe Enhanced Value, while VHYL.AS tracks FTSE All-World High Dividend Yield Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.25% for CEMS.DE and 0.29% for VHYL.AS.
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