CEMU.AS vs. XDEM.DE
CEMU.AS (iShares Core MSCI EMU UCITS ETF EUR (Acc)) and XDEM.DE (Xtrackers MSCI World Momentum Factor UCITS ETF 1C) are both exchange-traded funds - CEMU.AS is a Europe Equities fund tracking the MSCI EMU NR EUR, while XDEM.DE is a Momentum fund tracking the MSCI World Momentum Index. Both are passively managed. Over the past 10 years, CEMU.AS returned 10.03%/yr vs 15.57%/yr for XDEM.DE. A 0.69 correlation means they provide meaningful diversification when combined. CEMU.AS charges 0.12%/yr vs 0.25%/yr for XDEM.DE.
Performance
CEMU.AS vs. XDEM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CEMU.AS achieves a 8.68% return, which is significantly lower than XDEM.DE's 21.28% return. Over the past 10 years, CEMU.AS has underperformed XDEM.DE with an annualized return of 10.03%, while XDEM.DE has yielded a comparatively higher 15.57% annualized return.
CEMU.AS
- 1D
- 0.60%
- 1M
- 3.80%
- YTD
- 8.68%
- 6M
- 10.52%
- 1Y
- 17.45%
- 3Y*
- 16.12%
- 5Y*
- 10.62%
- 10Y*
- 10.03%
XDEM.DE
- 1D
- 0.39%
- 1M
- 5.60%
- YTD
- 21.28%
- 6M
- 21.64%
- 1Y
- 29.95%
- 3Y*
- 25.78%
- 5Y*
- 14.49%
- 10Y*
- 15.57%
CEMU.AS vs. XDEM.DE - 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% |
XDEM.DE Xtrackers MSCI World Momentum Factor UCITS ETF 1C | 21.28% | 8.09% | 38.22% | 8.18% | -13.65% | 24.74% | 16.54% | 31.58% | 0.81% | 16.07% |
Correlation
The correlation between CEMU.AS and XDEM.DE is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2014 | 0.69 |
The correlation between CEMU.AS and XDEM.DE has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.
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Return for Risk
CEMU.AS vs. XDEM.DE — Risk / Return Rank
CEMU.AS
XDEM.DE
CEMU.AS vs. XDEM.DE - 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 Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.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.
| CEMU.AS | XDEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.33 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 3.39 | -1.65 |
| Martin ratioReturn relative to average drawdown | 6.36 | 13.23 | -6.87 |
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 | XDEM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | 1.81 | -0.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 0.83 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.86 | -0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.40 | +0.09 |
Drawdowns
CEMU.AS vs. XDEM.DE - Drawdown Comparison
The maximum CEMU.AS drawdown since its inception was -38.38%, which is greater than XDEM.DE's maximum drawdown of -30.94%. Use the drawdown chart below to compare losses from any high point for CEMU.AS and XDEM.DE.
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Drawdown Indicators
| CEMU.AS | XDEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.38% | -30.94% | -7.44% |
Max Drawdown (1Y)Largest decline over 1 year | -10.17% | -9.01% | -1.16% |
Max Drawdown (3Y)Largest decline over 3 years | -15.40% | -23.51% | +8.11% |
Max Drawdown (5Y)Largest decline over 5 years | -24.51% | -23.51% | -1.00% |
Max Drawdown (10Y)Largest decline over 10 years | -38.38% | -30.94% | -7.44% |
Current DrawdownCurrent decline from peak | -0.56% | -2.15% | +1.59% |
Average DrawdownAverage peak-to-trough decline | -6.24% | -7.41% | +1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 2.32% | +0.47% |
Volatility
CEMU.AS vs. XDEM.DE - Volatility Comparison
The current volatility for iShares Core MSCI EMU UCITS ETF EUR (Acc) (CEMU.AS) is 4.60%, while Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.DE) has a volatility of 5.72%. This indicates that CEMU.AS experiences smaller price fluctuations and is considered to be less risky than XDEM.DE 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 | XDEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 5.72% | -1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 11.95% | 14.29% | -2.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.49% | 16.95% | -2.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.16% | 17.32% | -1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.08% | 18.07% | -0.99% |
CEMU.AS vs. XDEM.DE - Expense Ratio Comparison
CEMU.AS has a 0.12% expense ratio, which is lower than XDEM.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CEMU.AS vs. XDEM.DE - Dividend Comparison
Neither CEMU.AS nor XDEM.DE has paid dividends to shareholders.
Frequently Asked Questions
CEMU.AS and XDEM.DE have a correlation of 0.68, 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 0.25% for XDEM.DE.
CEMU.AS is categorized as Europe Equities, while XDEM.DE is Momentum. CEMU.AS tracks MSCI EMU NR EUR, while XDEM.DE tracks MSCI World Momentum Index. They also come from different issuers: iShares and DWS. Their fees differ too: 0.12% for CEMU.AS and 0.25% for XDEM.DE.
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