CEMS.DE vs. XB4A.DE
CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) and XB4A.DE (Xtrackers ATX UCITS ETF (Acc)) are both Europe Equities funds - CEMS.DE tracks the MSCI Europe Enhanced Value while XB4A.DE tracks the ATX Index. Both are passively managed. Over the past 10 years, CEMS.DE returned 11.14%/yr vs 14.60%/yr for XB4A.DE. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.
Performance
CEMS.DE vs. XB4A.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CEMS.DE achieves a 15.46% return, which is significantly lower than XB4A.DE's 22.80% return. Over the past 10 years, CEMS.DE has underperformed XB4A.DE with an annualized return of 11.14%, while XB4A.DE has yielded a comparatively higher 14.60% annualized return.
CEMS.DE
- 1D
- -0.43%
- 1M
- 0.51%
- 6M
- 12.44%
- YTD
- 15.46%
- 1Y
- 33.01%
- 3Y*
- 21.29%
- 5Y*
- 15.45%
- 10Y*
- 11.14%
XB4A.DE
- 1D
- -1.41%
- 1M
- -2.86%
- 6M
- 19.27%
- YTD
- 22.80%
- 1Y
- 45.21%
- 3Y*
- 30.57%
- 5Y*
- 17.80%
- 10Y*
- 14.60%
CEMS.DE vs. XB4A.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 | 15.46% | 36.00% | 9.92% | 13.88% | -4.51% | 26.64% | -8.83% | 23.35% | -14.05% | 10.13% |
XB4A.DE Xtrackers ATX UCITS ETF (Acc) | 22.80% | 51.29% | 11.01% | 14.27% | -16.45% | 42.39% | -10.86% | 19.79% | -17.99% | 32.88% |
Correlation
The correlation between CEMS.DE and XB4A.DE is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015 | 0.79 |
The correlation between CEMS.DE and XB4A.DE has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.
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Return for Risk
CEMS.DE vs. XB4A.DE — Risk / Return Rank
CEMS.DE
XB4A.DE
CEMS.DE vs. XB4A.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 Xtrackers ATX UCITS ETF (Acc) (XB4A.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 | XB4A.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.43 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.28 | 4.13 | -0.85 |
| Martin ratioReturn relative to average drawdown | 12.34 | 13.97 | -1.63 |
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Drawdowns
CEMS.DE vs. XB4A.DE - Drawdown Comparison
The maximum CEMS.DE drawdown since its inception was -40.22%, smaller than the maximum XB4A.DE drawdown of -53.54%. Use the drawdown chart below to compare losses from any high point for CEMS.DE and XB4A.DE.
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Drawdown Indicators
| CEMS.DE | XB4A.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.22% | -53.54% | +13.32% |
Max Drawdown (1Y)Largest decline over 1 year | -10.02% | -10.88% | +0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -17.61% | -16.26% | -1.35% |
Max Drawdown (5Y)Largest decline over 5 years | -19.56% | -32.50% | +12.94% |
Max Drawdown (10Y)Largest decline over 10 years | -40.22% | -53.54% | +13.32% |
Current DrawdownCurrent decline from peak | -1.72% | -3.43% | +1.71% |
Average DrawdownAverage peak-to-trough decline | -7.44% | -9.88% | +2.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 3.23% | -0.56% |
Volatility
CEMS.DE vs. XB4A.DE - Volatility Comparison
The current volatility for iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.DE) is 4.20%, while Xtrackers ATX UCITS ETF (Acc) (XB4A.DE) has a volatility of 4.97%. This indicates that CEMS.DE experiences smaller price fluctuations and is considered to be less risky than XB4A.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 | XB4A.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 4.97% | -0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 12.03% | 14.95% | -2.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.24% | 17.66% | -3.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.28% | 19.15% | -3.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.06% | 20.15% | -3.09% |
CEMS.DE vs. XB4A.DE - Expense Ratio Comparison
Both CEMS.DE and XB4A.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. XB4A.DE - Dividend Comparison
Neither CEMS.DE nor XB4A.DE has paid dividends to shareholders.
Frequently Asked Questions
CEMS.DE and XB4A.DE have a correlation of 0.78, 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 XB4A.DE have the same expense ratio: 0.25% per year.
CEMS.DE tracks MSCI Europe Enhanced Value, while XB4A.DE tracks ATX Index. They also come from different issuers: iShares and Xtrackers.
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