CEMU.AS vs. XHYA.DE
CEMU.AS (iShares Core MSCI EMU UCITS ETF EUR (Acc)) and XHYA.DE (Xtrackers EUR High Yield Corporate Bond UCITS ETF) are both exchange-traded funds - CEMU.AS is a Europe Equities fund tracking the MSCI EMU NR EUR, while XHYA.DE is a European High Yield Bonds fund tracking the iBoxx® EUR Liquid High Yield. Both are passively managed. Over the past 5 years, CEMU.AS returned 10.62%/yr vs 2.70%/yr for XHYA.DE. A 0.67 correlation means they provide meaningful diversification when combined. CEMU.AS charges 0.12%/yr vs 0.20%/yr for XHYA.DE.
Performance
CEMU.AS vs. XHYA.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 higher than XHYA.DE's 1.14% 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%
XHYA.DE
- 1D
- 0.22%
- 1M
- 0.47%
- YTD
- 1.14%
- 6M
- 1.52%
- 1Y
- 3.26%
- 3Y*
- 6.15%
- 5Y*
- 2.70%
- 10Y*
- —
CEMU.AS vs. XHYA.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% | 8.42% |
XHYA.DE Xtrackers EUR High Yield Corporate Bond UCITS ETF | 1.14% | 4.45% | 6.15% | 10.88% | -8.84% | 2.99% | 2.01% | 9.70% | -3.64% | 4.00% |
Correlation
The correlation between CEMU.AS and XHYA.DE is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2017 | 0.67 |
The correlation between CEMU.AS and XHYA.DE has been stable across timeframes, ranging from 0.65 to 0.71 - a consistent structural relationship.
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Return for Risk
CEMU.AS vs. XHYA.DE — Risk / Return Rank
CEMU.AS
XHYA.DE
CEMU.AS vs. XHYA.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 EUR High Yield Corporate Bond UCITS ETF (XHYA.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 | XHYA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.17 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 1.15 | +0.59 |
| Martin ratioReturn relative to average drawdown | 6.36 | 4.71 | +1.66 |
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 | XHYA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | 0.89 | +0.34 |
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 | 0.45 | +0.05 |
Drawdowns
CEMU.AS vs. XHYA.DE - Drawdown Comparison
The maximum CEMU.AS drawdown since its inception was -38.38%, which is greater than XHYA.DE's maximum drawdown of -23.83%. Use the drawdown chart below to compare losses from any high point for CEMU.AS and XHYA.DE.
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Drawdown Indicators
| CEMU.AS | XHYA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.38% | -23.83% | -14.55% |
Max Drawdown (1Y)Largest decline over 1 year | -10.17% | -2.86% | -7.31% |
Max Drawdown (3Y)Largest decline over 3 years | -15.40% | -4.25% | -11.15% |
Max Drawdown (5Y)Largest decline over 5 years | -24.51% | -14.49% | -10.02% |
Max Drawdown (10Y)Largest decline over 10 years | -38.38% | — | — |
Current DrawdownCurrent decline from peak | -0.56% | -0.19% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -6.24% | -2.52% | -3.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 0.70% | +2.09% |
Volatility
CEMU.AS vs. XHYA.DE - Volatility Comparison
iShares Core MSCI EMU UCITS ETF EUR (Acc) (CEMU.AS) has a higher volatility of 4.60% compared to Xtrackers EUR High Yield Corporate Bond UCITS ETF (XHYA.DE) at 1.09%. This indicates that CEMU.AS's price experiences larger fluctuations and is considered to be riskier than XHYA.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 | XHYA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 1.09% | +3.51% |
Volatility (6M)Calculated over the trailing 6-month period | 11.95% | 3.26% | +8.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.49% | 3.70% | +10.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.16% | 5.47% | +10.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.08% | 6.55% | +10.53% |
CEMU.AS vs. XHYA.DE - Expense Ratio Comparison
CEMU.AS has a 0.12% expense ratio, which is lower than XHYA.DE's 0.20% 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. XHYA.DE - Dividend Comparison
Neither CEMU.AS nor XHYA.DE has paid dividends to shareholders.
Frequently Asked Questions
CEMU.AS and XHYA.DE have a correlation of 0.71, 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 0.20% for XHYA.DE.
CEMU.AS is categorized as Europe Equities, while XHYA.DE is European High Yield Bonds. CEMU.AS tracks MSCI EMU NR EUR, while XHYA.DE tracks iBoxx® EUR Liquid High Yield. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.12% for CEMU.AS and 0.20% for XHYA.DE.
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