CEMU.AS vs. EUNA.AS
CEMU.AS (iShares Core MSCI EMU UCITS ETF EUR (Acc)) and EUNA.AS (iShares STOXX Europe 50 UCITS ETF) are both Europe Equities funds from iShares - CEMU.AS tracks the MSCI EMU NR EUR while EUNA.AS tracks the MSCI Europe NR EUR. Both are passively managed. Their correlation of 0.90 suggests significant overlap in exposure. CEMU.AS charges 0.12%/yr vs 0.35%/yr for EUNA.AS.
Performance
CEMU.AS vs. EUNA.AS - Performance Comparison
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Returns By Period
CEMU.AS
- 1D
- 0.60%
- 1M
- 4.75%
- YTD
- 8.68%
- 6M
- 10.69%
- 1Y
- 17.98%
- 3Y*
- 16.12%
- 5Y*
- 10.62%
- 10Y*
- 10.03%
EUNA.AS
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CEMU.AS vs. EUNA.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEMU.AS iShares Core MSCI EMU UCITS ETF EUR (Acc) | 8.68% | 24.42% | 10.08% | 18.65% | -11.71% | 23.11% | -0.54% | 25.09% | -11.82% | 12.65% |
EUNA.AS iShares STOXX Europe 50 UCITS ETF | 0.00% | 12.22% | 8.08% | 15.11% | -2.25% | 26.64% | -6.34% | 26.46% | -9.51% | 9.05% |
Correlation
The correlation between CEMU.AS and EUNA.AS is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2014 | 0.90 |
Over the past year, the correlation between CEMU.AS and EUNA.AS has dropped to 0.48 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.
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Return for Risk
CEMU.AS vs. EUNA.AS — Risk / Return Rank
CEMU.AS
EUNA.AS
CEMU.AS vs. EUNA.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EMU UCITS ETF EUR (Acc) (CEMU.AS) and iShares STOXX Europe 50 UCITS ETF (EUNA.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.
| CEMU.AS | EUNA.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.23 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | — | — |
| Martin ratioReturn relative to average drawdown | 6.36 | — | — |
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
| CEMU.AS | EUNA.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | — | — |
Drawdowns
CEMU.AS vs. EUNA.AS - Drawdown Comparison
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Drawdown Indicators
| CEMU.AS | EUNA.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.38% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -10.17% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -15.40% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.51% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.38% | — | — |
Current DrawdownCurrent decline from peak | -0.56% | — | — |
Average DrawdownAverage peak-to-trough decline | -6.24% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | — | — |
Volatility
CEMU.AS vs. EUNA.AS - Volatility Comparison
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Volatility by Period
| CEMU.AS | EUNA.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 11.95% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 14.49% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.16% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.08% | — | — |
CEMU.AS vs. EUNA.AS - Expense Ratio Comparison
CEMU.AS has a 0.12% expense ratio, which is lower than EUNA.AS's 0.35% expense ratio.
Dividends
CEMU.AS vs. EUNA.AS - Dividend Comparison
CEMU.AS has not paid dividends to shareholders, while EUNA.AS's dividend yield for the trailing twelve months is around 1.21%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEMU.AS iShares Core MSCI EMU UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EUNA.AS iShares STOXX Europe 50 UCITS ETF | 1.21% | 2.52% | 2.68% | 2.56% | 2.62% | 2.22% | 2.42% | 2.96% | 3.51% | 3.24% | 3.29% | 3.05% |
Frequently Asked Questions
CEMU.AS and EUNA.AS have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEMU.AS is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEMU.AS is cheaper with a 0.12% expense ratio, compared with 0.35% for EUNA.AS.
CEMU.AS tracks MSCI EMU NR EUR, while EUNA.AS tracks MSCI Europe NR EUR. Their fees differ too: 0.12% for CEMU.AS and 0.35% for EUNA.AS.
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