CEMU.AS vs. FBT.L
CEMU.AS (iShares Core MSCI EMU UCITS ETF EUR (Acc)) and FBT.L (First Trust NYSE Arca Biotechnology UCITS ETF Acc) are both exchange-traded funds - CEMU.AS is a Europe Equities fund tracking the MSCI EMU NR EUR, while FBT.L is a Health & Biotech Equities fund tracking the NASDAQ Biotechnology TR USD. Both are passively managed. Over the past 5 years, CEMU.AS returned 10.62%/yr vs 7.95%/yr for FBT.L. At a 0.27 correlation, their price movements are largely independent. CEMU.AS charges 0.12%/yr vs 0.60%/yr for FBT.L.
Performance
CEMU.AS vs. FBT.L - Performance Comparison
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Different Trading Currencies
CEMU.AS is traded in EUR, while FBT.L is traded in GBp. To make them comparable, the FBT.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, CEMU.AS achieves a 8.68% return, which is significantly lower than FBT.L's 9.94% return.
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%
FBT.L
- 1D
- 4.28%
- 1M
- 10.22%
- YTD
- 9.94%
- 6M
- 7.40%
- 1Y
- 35.99%
- 3Y*
- 10.19%
- 5Y*
- 7.95%
- 10Y*
- —
CEMU.AS vs. FBT.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CEMU.AS iShares Core MSCI EMU UCITS ETF EUR (Acc) | 8.68% | 24.42% | 10.08% | 18.65% | -11.71% | 23.11% | 15.98% |
FBT.L First Trust NYSE Arca Biotechnology UCITS ETF Acc | 9.94% | 11.35% | 12.25% | 0.68% | -1.22% | 3.77% | -2.13% |
Correlation
The correlation between CEMU.AS and FBT.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jun 16, 2020 | 0.27 |
The correlation between CEMU.AS and FBT.L shifts across timeframes, from 0.25 (3 years) to 0.41 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CEMU.AS vs. FBT.L — Risk / Return Rank
CEMU.AS
FBT.L
CEMU.AS vs. FBT.L - 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 First Trust NYSE Arca Biotechnology UCITS ETF Acc (FBT.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.
| CEMU.AS | FBT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.30 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 2.69 | -0.95 |
| Martin ratioReturn relative to average drawdown | 6.36 | 6.94 | -0.58 |
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 | FBT.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | 1.72 | -0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 0.49 | +0.16 |
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 | 0.34 | +0.16 |
Drawdowns
CEMU.AS vs. FBT.L - Drawdown Comparison
The maximum CEMU.AS drawdown since its inception was -38.38%, which is greater than FBT.L's maximum drawdown of -26.40%. Use the drawdown chart below to compare losses from any high point for CEMU.AS and FBT.L.
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Drawdown Indicators
| CEMU.AS | FBT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.38% | -26.40% | -11.98% |
Max Drawdown (1Y)Largest decline over 1 year | -10.17% | -13.29% | +3.12% |
Max Drawdown (3Y)Largest decline over 3 years | -15.40% | -26.11% | +10.71% |
Max Drawdown (5Y)Largest decline over 5 years | -24.51% | -26.11% | +1.60% |
Max Drawdown (10Y)Largest decline over 10 years | -38.38% | — | — |
Current DrawdownCurrent decline from peak | -0.56% | 0.00% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -6.24% | -11.01% | +4.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 5.17% | -2.38% |
Volatility
CEMU.AS vs. FBT.L - Volatility Comparison
The current volatility for iShares Core MSCI EMU UCITS ETF EUR (Acc) (CEMU.AS) is 4.60%, while First Trust NYSE Arca Biotechnology UCITS ETF Acc (FBT.L) has a volatility of 6.79%. This indicates that CEMU.AS experiences smaller price fluctuations and is considered to be less risky than FBT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEMU.AS | FBT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 6.79% | -2.19% |
Volatility (6M)Calculated over the trailing 6-month period | 11.95% | 15.38% | -3.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.49% | 20.79% | -6.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.16% | 23.14% | -6.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.08% | 24.32% | -7.24% |
CEMU.AS vs. FBT.L - Expense Ratio Comparison
CEMU.AS has a 0.12% expense ratio, which is lower than FBT.L's 0.60% expense ratio.
Dividends
CEMU.AS vs. FBT.L - Dividend Comparison
Neither CEMU.AS nor FBT.L has paid dividends to shareholders.
Frequently Asked Questions
CEMU.AS and FBT.L have a correlation of 0.41, 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 0.60% for FBT.L.
CEMU.AS is categorized as Europe Equities, while FBT.L is Health & Biotech Equities. CEMU.AS tracks MSCI EMU NR EUR, while FBT.L tracks NASDAQ Biotechnology TR USD. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.12% for CEMU.AS and 0.60% for FBT.L.
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