CEMT.DE vs. XESD.DE
CEMT.DE (iShares Edge MSCI Europe Size Factor UCITS ETF) and XESD.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - CEMT.DE tracks the MSCI Europe Mid Cap Equal Weighted while XESD.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 10 years, CEMT.DE returned 8.45%/yr vs 13.66%/yr for XESD.DE. A 0.77 correlation means they provide meaningful diversification when combined. CEMT.DE charges 0.25%/yr vs 0.30%/yr for XESD.DE.
Performance
CEMT.DE vs. XESD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CEMT.DE achieves a 9.71% return, which is significantly lower than XESD.DE's 14.19% return. Over the past 10 years, CEMT.DE has underperformed XESD.DE with an annualized return of 8.45%, while XESD.DE has yielded a comparatively higher 13.66% annualized return.
CEMT.DE
- 1D
- -0.90%
- 1M
- -0.45%
- YTD
- 9.71%
- 6M
- 9.71%
- 1Y
- 15.55%
- 3Y*
- 14.06%
- 5Y*
- 5.73%
- 10Y*
- 8.45%
XESD.DE
- 1D
- -0.44%
- 1M
- 5.86%
- YTD
- 14.19%
- 6M
- 15.25%
- 1Y
- 46.96%
- 3Y*
- 31.59%
- 5Y*
- 20.24%
- 10Y*
- 13.66%
CEMT.DE vs. XESD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEMT.DE iShares Edge MSCI Europe Size Factor UCITS ETF | 9.71% | 17.46% | 5.14% | 14.11% | -18.17% | 19.54% | 1.67% | 28.80% | -14.00% | 13.64% |
XESD.DE Xtrackers Spanish Equity UCITS ETF | 14.19% | 58.72% | 14.57% | 26.76% | -1.63% | 10.91% | -10.10% | 15.69% | -12.39% | 12.92% |
Correlation
The correlation between CEMT.DE and XESD.DE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015 | 0.77 |
Over the past year, the correlation between CEMT.DE and XESD.DE has dropped to 0.49 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.
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Return for Risk
CEMT.DE vs. XESD.DE — Risk / Return Rank
CEMT.DE
XESD.DE
CEMT.DE vs. XESD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Size Factor UCITS ETF (CEMT.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.
| CEMT.DE | XESD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -2.15 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.49 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.77 | 4.55 | -2.78 |
| Martin ratioReturn relative to average drawdown | 6.74 | 16.04 | -9.30 |
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Drawdowns
CEMT.DE vs. XESD.DE - Drawdown Comparison
The maximum CEMT.DE drawdown since its inception was -37.62%, roughly equal to the maximum XESD.DE drawdown of -38.76%. Use the drawdown chart below to compare losses from any high point for CEMT.DE and XESD.DE.
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Drawdown Indicators
| CEMT.DE | XESD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.62% | -38.76% | +1.14% |
Max Drawdown (1Y)Largest decline over 1 year | -8.75% | -10.28% | +1.53% |
Max Drawdown (3Y)Largest decline over 3 years | -14.36% | -12.49% | -1.87% |
Max Drawdown (5Y)Largest decline over 5 years | -29.23% | -18.55% | -10.68% |
Max Drawdown (10Y)Largest decline over 10 years | -37.62% | -38.76% | +1.14% |
Current DrawdownCurrent decline from peak | -0.90% | -0.62% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -7.09% | -8.46% | +1.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.30% | 2.92% | -0.62% |
Volatility
CEMT.DE vs. XESD.DE - Volatility Comparison
The current volatility for iShares Edge MSCI Europe Size Factor UCITS ETF (CEMT.DE) is 2.77%, while Xtrackers Spanish Equity UCITS ETF (XESD.DE) has a volatility of 4.04%. This indicates that CEMT.DE experiences smaller price fluctuations and is considered to be less risky than XESD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEMT.DE | XESD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.77% | 4.04% | -1.27% |
Volatility (6M)Calculated over the trailing 6-month period | 14.56% | 14.42% | +0.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.58% | 16.97% | -1.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.97% | 16.76% | -0.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.36% | 18.49% | -2.13% |
CEMT.DE vs. XESD.DE - Expense Ratio Comparison
CEMT.DE has a 0.25% expense ratio, which is lower than XESD.DE's 0.30% expense ratio.
Dividends
CEMT.DE vs. XESD.DE - Dividend Comparison
CEMT.DE has not paid dividends to shareholders, while XESD.DE's dividend yield for the trailing twelve months is around 2.35%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEMT.DE iShares Edge MSCI Europe Size 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 | 2.35% | 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
CEMT.DE and XESD.DE have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEMT.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEMT.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for XESD.DE.
CEMT.DE tracks MSCI Europe Mid Cap Equal Weighted, while XESD.DE tracks Solactive Spain 40. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.25% for CEMT.DE and 0.30% for XESD.DE.
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