CEMS.DE vs. XESD.DE
CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) and XESD.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - CEMS.DE tracks the MSCI Europe Enhanced Value while XESD.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 10 years, CEMS.DE returned 12.21%/yr vs 14.01%/yr for XESD.DE. Their correlation of 0.84 suggests significant overlap in exposure. CEMS.DE charges 0.25%/yr vs 0.30%/yr for XESD.DE.
Performance
CEMS.DE vs. XESD.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 XESD.DE's 14.69% return. Over the past 10 years, CEMS.DE has underperformed XESD.DE with an annualized return of 12.21%, while XESD.DE has yielded a comparatively higher 14.01% annualized 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%
XESD.DE
- 1D
- 0.62%
- 1M
- 6.78%
- YTD
- 14.69%
- 6M
- 15.76%
- 1Y
- 47.75%
- 3Y*
- 32.29%
- 5Y*
- 20.35%
- 10Y*
- 14.01%
CEMS.DE vs. XESD.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 | 15.97% | 36.00% | 9.92% | 13.88% | -4.51% | 26.64% | -8.83% | 23.35% | -14.05% | 10.13% |
XESD.DE Xtrackers Spanish Equity UCITS ETF | 14.69% | 58.72% | 14.57% | 26.76% | -1.63% | 10.91% | -10.10% | 15.69% | -12.39% | 12.92% |
Correlation
The correlation between CEMS.DE and XESD.DE is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015 | 0.84 |
The correlation between CEMS.DE and XESD.DE has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.
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Return for Risk
CEMS.DE vs. XESD.DE — Risk / Return Rank
CEMS.DE
XESD.DE
CEMS.DE vs. XESD.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 Spanish Equity UCITS ETF (XESD.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 | XESD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.50 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 4.62 | -0.89 |
| Martin ratioReturn relative to average drawdown | 14.09 | 16.31 | -2.23 |
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Drawdowns
CEMS.DE vs. XESD.DE - Drawdown Comparison
The maximum CEMS.DE drawdown since its inception was -40.22%, roughly equal to the maximum XESD.DE drawdown of -38.76%. Use the drawdown chart below to compare losses from any high point for CEMS.DE and XESD.DE.
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Drawdown Indicators
| CEMS.DE | XESD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.22% | -38.76% | -1.46% |
Max Drawdown (1Y)Largest decline over 1 year | -10.02% | -10.28% | +0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -17.61% | -12.49% | -5.12% |
Max Drawdown (5Y)Largest decline over 5 years | -19.56% | -18.55% | -1.01% |
Max Drawdown (10Y)Largest decline over 10 years | -40.22% | -38.76% | -1.46% |
Current DrawdownCurrent decline from peak | 0.00% | -0.18% | +0.18% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -8.46% | +0.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 2.92% | -0.26% |
Volatility
CEMS.DE vs. XESD.DE - Volatility Comparison
iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.DE) and Xtrackers Spanish Equity UCITS ETF (XESD.DE) have volatilities of 3.86% and 4.05%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEMS.DE | XESD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.86% | 4.05% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 11.64% | 14.41% | -2.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.09% | 17.06% | -2.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.29% | 16.77% | -1.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.18% | 18.49% | -1.31% |
CEMS.DE vs. XESD.DE - Expense Ratio Comparison
CEMS.DE has a 0.25% expense ratio, which is lower than XESD.DE's 0.30% expense ratio.
Dividends
CEMS.DE vs. XESD.DE - Dividend Comparison
CEMS.DE has not paid dividends to shareholders, while XESD.DE's dividend yield for the trailing twelve months is around 2.34%.
| 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% |
XESD.DE Xtrackers Spanish Equity UCITS ETF | 2.34% | 2.43% | 3.14% | 2.56% | 3.98% | 1.51% | 4.30% | 3.35% | 4.48% | 2.51% | 1.14% | 0.42% |
Frequently Asked Questions
CEMS.DE and XESD.DE have a correlation of 0.82, 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 0.30% for XESD.DE.
CEMS.DE tracks MSCI Europe Enhanced Value, while XESD.DE tracks Solactive Spain 40. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.25% for CEMS.DE and 0.30% for XESD.DE.
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