PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
CEU1.L vs. CMB1.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CEU1.L vs. CMB1.L

Last updated Jun 26, 2026

CEU1.L (iShares VII plc -iShares Core MSCI EMU UCITS ETF EUR (Acc)) and CMB1.L (iShares FTSE MIB UCITS ETF (Acc)) are both Europe Equities funds from iShares - CEU1.L tracks the MSCI EMU NR EUR while CMB1.L tracks the FTSE Italia AllShare TR EUR. Both are passively managed. Over the past 10 years, CEU1.L returned 11.88%/yr vs 17.45%/yr for CMB1.L. Their correlation of 0.83 suggests significant overlap in exposure. CEU1.L charges 0.12%/yr vs 0.33%/yr for CMB1.L.

Performance

CEU1.L vs. CMB1.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares VII plc -iShares Core MSCI EMU UCITS ETF EUR (Acc) (CEU1.L) and iShares FTSE MIB UCITS ETF (Acc) (CMB1.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, CEU1.L achieves a 10.54% return, which is significantly lower than CMB1.L's 16.99% return. Over the past 10 years, CEU1.L has underperformed CMB1.L with an annualized return of 11.88%, while CMB1.L has yielded a comparatively higher 17.45% annualized return.

CEU1.L

1D
0.69%
1M
2.83%
YTD
10.54%
6M
11.21%
1Y
25.22%
3Y*
17.57%
5Y*
10.96%
10Y*
11.88%

CMB1.L

1D
0.03%
1M
3.29%
YTD
16.99%
6M
17.62%
1Y
38.46%
3Y*
29.77%
5Y*
20.58%
10Y*
17.45%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CEU1.L vs. CMB1.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CEU1.L
iShares VII plc -iShares Core MSCI EMU UCITS ETF EUR (Acc)		10.54%30.63%4.62%16.50%-6.40%14.38%5.24%19.34%-11.60%17.38%
CMB1.L
iShares FTSE MIB UCITS ETF (Acc)		16.99%43.83%13.25%30.68%-3.56%18.29%1.52%24.83%-13.79%22.48%

Correlation

The correlation between CEU1.L and CMB1.L is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.85

Correlation (3Y)
Calculated over the trailing 3-year period

0.86

Correlation (5Y)
Calculated over the trailing 5-year period

0.87

Correlation (10Y)
Calculated over the trailing 10-year period

0.85

Correlation (All Time)
Calculated using the full available price history since Jan 26, 2010

0.83

The correlation between CEU1.L and CMB1.L has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

CEU1.L vs. CMB1.L - Sectors Allocation Comparison

Sectors
CEU1.L
CMB1.L

Financial Services

24.0%
47.2%

Industrials

21.0%
11.1%

Technology

16.4%
6.0%

Consumer Cyclical

8.3%
9.2%

Utilities

6.3%
15.3%

Healthcare

5.7%
1.1%

Consumer Defensive

5.4%
0.4%

Communication Services

4.2%
1.8%

Basic Materials

4.1%
0.5%

Energy

3.9%
7.2%

Real Estate

0.8%
0.3%

Financial Services

CEU1.L
24.0%
CMB1.L
47.2%

Industrials

CEU1.L
21.0%
CMB1.L
11.1%

Technology

CEU1.L
16.4%
CMB1.L
6.0%

Consumer Cyclical

CEU1.L
8.3%
CMB1.L
9.2%

Utilities

CEU1.L
6.3%
CMB1.L
15.3%

Healthcare

CEU1.L
5.7%
CMB1.L
1.1%

Consumer Defensive

CEU1.L
5.4%
CMB1.L
0.4%

Communication Services

CEU1.L
4.2%
CMB1.L
1.8%

Basic Materials

CEU1.L
4.1%
CMB1.L
0.5%

Energy

CEU1.L
3.9%
CMB1.L
7.2%

Real Estate

CEU1.L
0.8%
CMB1.L
0.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares VII plc -iShares Core MSCI EMU UCITS ETF EUR (Acc)

iShares FTSE MIB UCITS ETF (Acc)

Often compared with CEU1.L:
CEU1.L vs. WLDL.LCEU1.L vs. CS51.LCEU1.L vs. EIMI.LCEU1.L vs. IEFV.LCEU1.L vs. VUKG.LCEU1.L vs. SCHDCEU1.L vs. EEM
Often compared with CMB1.L:
CMB1.L vs. XDEM.LCMB1.L vs. H50E.LCMB1.L vs. IITU.LCMB1.L vs. SPYCMB1.L vs. IQSA.LCMB1.L vs. X7PP.LCMB1.L vs. EQQQ.L

Return for Risk

CEU1.L vs. CMB1.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CEU1.L
CEU1.L Risk / Return Rank: 5959
Overall Rank
CEU1.L Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
CEU1.L Sortino Ratio Rank: 6464
Sortino Ratio Rank
CEU1.L Omega Ratio Rank: 6464
Omega Ratio Rank
CEU1.L Calmar Ratio Rank: 5252
Calmar Ratio Rank
CEU1.L Martin Ratio Rank: 5353
Martin Ratio Rank
CMB1.L
CMB1.L Risk / Return Rank: 8484
Overall Rank
CMB1.L Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
CMB1.L Sortino Ratio Rank: 8787
Sortino Ratio Rank
CMB1.L Omega Ratio Rank: 8484
Omega Ratio Rank
CMB1.L Calmar Ratio Rank: 8080
Calmar Ratio Rank
CMB1.L Martin Ratio Rank: 8080
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CEU1.L vs. CMB1.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares VII plc -iShares Core MSCI EMU UCITS ETF EUR (Acc) (CEU1.L) and iShares FTSE MIB UCITS ETF (Acc) (CMB1.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.

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.

CEU1.LCMB1.LDifference
Sharpe ratioReturn per unit of total volatility
1.80
2.54

-0.74

Sortino ratioReturn per unit of downside risk
2.59
3.42

-0.83

Omega ratioGain probability vs. loss probability

1.34

1.44

-0.10

Calmar ratioReturn relative to maximum drawdown

2.30

3.71

-1.41

Martin ratioReturn relative to average drawdown

8.15

13.55

-5.40

CEU1.L vs. CMB1.L - Sharpe Ratio Comparison

The current CEU1.L Sharpe Ratio is 1.80, which is comparable to the CMB1.L Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of CEU1.L and CMB1.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

CEU1.L vs. CMB1.L - Drawdown Comparison

The maximum CEU1.L drawdown since its inception was -98.86%, which is greater than CMB1.L's maximum drawdown of -56.05%. Use the drawdown chart below to compare losses from any high point for CEU1.L and CMB1.L.

Loading charts...

Drawdown Indicators

CEU1.LCMB1.LDifference

Max Drawdown

Largest peak-to-trough decline

-98.86%

-56.05%

-42.81%

Max Drawdown (1Y)

Largest decline over 1 year

-10.93%

-10.32%

-0.61%

Max Drawdown (3Y)

Largest decline over 3 years

-13.04%

-15.62%

+2.58%

Max Drawdown (5Y)

Largest decline over 5 years

-21.68%

-24.19%

+2.51%

Max Drawdown (10Y)

Largest decline over 10 years

-31.39%

-36.61%

+5.22%

Current Drawdown

Current decline from peak

-1.40%

-2.84%

+1.44%

Average Drawdown

Average peak-to-trough decline

-6.90%

-15.20%

+8.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.09%

2.83%

+0.26%

Volatility

CEU1.L vs. CMB1.L - Volatility Comparison

The current volatility for iShares VII plc -iShares Core MSCI EMU UCITS ETF EUR (Acc) (CEU1.L) is 3.39%, while iShares FTSE MIB UCITS ETF (Acc) (CMB1.L) has a volatility of 3.96%. This indicates that CEU1.L experiences smaller price fluctuations and is considered to be less risky than CMB1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

CEU1.LCMB1.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.39%

3.96%

-0.57%

Volatility (6M)

Calculated over the trailing 6-month period

11.75%

12.40%

-0.65%

Volatility (1Y)

Calculated over the trailing 1-year period

13.95%

15.07%

-1.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.09%

18.01%

+0.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.74%

20.12%

-2.38%

CEU1.L vs. CMB1.L - Expense Ratio Comparison

CEU1.L has a 0.12% expense ratio, which is lower than CMB1.L's 0.33% expense ratio.

Dividends

CEU1.L vs. CMB1.L - Dividend Comparison

Neither CEU1.L nor CMB1.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

CEU1.L and CMB1.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CEU1.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CEU1.L is cheaper with a 0.12% expense ratio, compared with 0.33% for CMB1.L.

CEU1.L tracks MSCI EMU NR EUR, while CMB1.L tracks FTSE Italia AllShare TR EUR. Their fees differ too: 0.12% for CEU1.L and 0.33% for CMB1.L.

Portfolio Optimizer

Find the right allocation for CEU1.L and CMB1.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer