CEMS.DE vs. VWRA.L
CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) and VWRA.L (Vanguard FTSE All-World UCITS ETF USD Accumulating) are both exchange-traded funds - CEMS.DE is a Europe Equities fund tracking the MSCI Europe Enhanced Value, while VWRA.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 5 years, CEMS.DE returned 14.39%/yr vs 11.92%/yr for VWRA.L. A 0.68 correlation means they provide meaningful diversification when combined. CEMS.DE charges 0.25%/yr vs 0.22%/yr for VWRA.L.
Performance
CEMS.DE vs. VWRA.L - Performance Comparison
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Different Trading Currencies
CEMS.DE is traded in EUR, while VWRA.L is traded in USD. To make them comparable, the VWRA.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 VWRA.L's 11.91% 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%
VWRA.L
- 1D
- 2.40%
- 1M
- 2.16%
- YTD
- 11.91%
- 6M
- 13.56%
- 1Y
- 25.93%
- 3Y*
- 17.05%
- 5Y*
- 11.92%
- 10Y*
- —
CEMS.DE vs. VWRA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CEMS.DE iShares Edge MSCI Europe Value Factor UCITS ETF | 14.37% | 36.00% | 9.92% | 13.88% | -4.51% | 26.64% | -8.83% | 10.07% |
VWRA.L Vanguard FTSE All-World UCITS ETF USD Accumulating | 11.91% | 7.92% | 25.41% | 18.61% | -13.03% | 27.32% | 6.62% | 6.87% |
Correlation
The correlation between CEMS.DE and VWRA.L is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2019 | 0.68 |
The correlation between CEMS.DE and VWRA.L has been stable across timeframes, ranging from 0.59 to 0.68 - a consistent structural relationship.
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Return for Risk
CEMS.DE vs. VWRA.L — Risk / Return Rank
CEMS.DE
VWRA.L
CEMS.DE vs. VWRA.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 Vanguard FTSE All-World UCITS ETF USD Accumulating (VWRA.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 | VWRA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.38 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 4.04 | -0.78 |
| Martin ratioReturn relative to average drawdown | 12.19 | 15.18 | -2.99 |
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Drawdowns
CEMS.DE vs. VWRA.L - Drawdown Comparison
The maximum CEMS.DE drawdown since its inception was -40.22%, which is greater than VWRA.L's maximum drawdown of -33.09%. Use the drawdown chart below to compare losses from any high point for CEMS.DE and VWRA.L.
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Drawdown Indicators
| CEMS.DE | VWRA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.22% | -33.09% | -7.13% |
Max Drawdown (1Y)Largest decline over 1 year | -10.02% | -6.39% | -3.63% |
Max Drawdown (3Y)Largest decline over 3 years | -17.61% | -20.09% | +2.48% |
Max Drawdown (5Y)Largest decline over 5 years | -19.56% | -20.09% | +0.53% |
Max Drawdown (10Y)Largest decline over 10 years | -40.22% | — | — |
Current DrawdownCurrent decline from peak | -0.66% | -1.46% | +0.80% |
Average DrawdownAverage peak-to-trough decline | -7.50% | -4.66% | -2.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 1.70% | +0.98% |
Volatility
CEMS.DE vs. VWRA.L - Volatility Comparison
iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.DE) has a higher volatility of 4.88% compared to Vanguard FTSE All-World UCITS ETF USD Accumulating (VWRA.L) at 4.13%. This indicates that CEMS.DE's price experiences larger fluctuations and is considered to be riskier than VWRA.L 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 | VWRA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.88% | 4.13% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 11.54% | 9.73% | +1.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.15% | 12.67% | +1.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.31% | 14.59% | +0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.46% | 16.72% | +0.74% |
CEMS.DE vs. VWRA.L - Expense Ratio Comparison
CEMS.DE has a 0.25% expense ratio, which is higher than VWRA.L's 0.22% 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. VWRA.L - Dividend Comparison
Neither CEMS.DE nor VWRA.L has paid dividends to shareholders.
Frequently Asked Questions
CEMS.DE and VWRA.L have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VWRA.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VWRA.L is cheaper with a 0.22% expense ratio, compared with 0.25% for CEMS.DE.
CEMS.DE is categorized as Europe Equities, while VWRA.L is Global Equities. CEMS.DE tracks MSCI Europe Enhanced Value, while VWRA.L tracks FTSE All-World Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.25% for CEMS.DE and 0.22% for VWRA.L.
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