CEU2.L vs. IS3R.DE
CEU2.L (Amundi Core MSCI Europe UCITS ETF DR) and IS3R.DE (iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)) are both exchange-traded funds - CEU2.L is a Europe Equities fund tracking the MSCI Europe Index, while IS3R.DE is a Momentum fund tracking the MSCI World Momentum Index. Both are passively managed. Over the past 5 years, CEU2.L returned 8.70%/yr vs 13.60%/yr for IS3R.DE. A 0.67 correlation means they provide meaningful diversification when combined. CEU2.L charges 0.12%/yr vs 0.25%/yr for IS3R.DE.
Performance
CEU2.L vs. IS3R.DE - Performance Comparison
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Different Trading Currencies
CEU2.L is traded in USD, while IS3R.DE is traded in EUR. To make them comparable, the IS3R.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CEU2.L achieves a 5.49% return, which is significantly lower than IS3R.DE's 21.10% return.
CEU2.L
- 1D
- -1.01%
- 1M
- -1.11%
- YTD
- 5.49%
- 6M
- 8.57%
- 1Y
- 16.45%
- 3Y*
- 16.31%
- 5Y*
- 8.70%
- 10Y*
- —
IS3R.DE
- 1D
- -0.89%
- 1M
- 7.86%
- YTD
- 21.10%
- 6M
- 23.22%
- 1Y
- 33.71%
- 3Y*
- 29.49%
- 5Y*
- 13.60%
- 10Y*
- 15.57%
CEU2.L vs. IS3R.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CEU2.L Amundi Core MSCI Europe UCITS ETF DR | 5.49% | 34.96% | 2.14% | 19.74% | -14.16% | 16.28% |
IS3R.DE iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) | 21.08% | 22.35% | 30.07% | 11.51% | -18.36% | 9.60% |
Correlation
The correlation between CEU2.L and IS3R.DE is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2021 | 0.67 |
The correlation between CEU2.L and IS3R.DE has been stable across timeframes, ranging from 0.61 to 0.67 - a consistent structural relationship.
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Return for Risk
CEU2.L vs. IS3R.DE — Risk / Return Rank
CEU2.L
IS3R.DE
CEU2.L vs. IS3R.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Core MSCI Europe UCITS ETF DR (CEU2.L) and iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IS3R.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.
| CEU2.L | IS3R.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.33 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 2.91 | -1.48 |
| Martin ratioReturn relative to average drawdown | 5.07 | 12.20 | -7.12 |
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
| CEU2.L | IS3R.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 1.87 | -0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 0.73 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.80 | -0.17 |
Drawdowns
CEU2.L vs. IS3R.DE - Drawdown Comparison
The maximum CEU2.L drawdown since its inception was -30.85%, roughly equal to the maximum IS3R.DE drawdown of -31.26%. Use the drawdown chart below to compare losses from any high point for CEU2.L and IS3R.DE.
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Drawdown Indicators
| CEU2.L | IS3R.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.85% | -31.26% | +0.41% |
Max Drawdown (1Y)Largest decline over 1 year | -11.47% | -11.54% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -14.49% | -19.94% | +5.45% |
Max Drawdown (5Y)Largest decline over 5 years | -30.85% | -29.86% | -0.99% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.26% | — |
Current DrawdownCurrent decline from peak | -2.57% | -0.89% | -1.68% |
Average DrawdownAverage peak-to-trough decline | -5.77% | -6.13% | +0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 2.75% | +0.48% |
Volatility
CEU2.L vs. IS3R.DE - Volatility Comparison
The current volatility for Amundi Core MSCI Europe UCITS ETF DR (CEU2.L) is 4.64%, while iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IS3R.DE) has a volatility of 6.32%. This indicates that CEU2.L experiences smaller price fluctuations and is considered to be less risky than IS3R.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEU2.L | IS3R.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.64% | 6.32% | -1.68% |
Volatility (6M)Calculated over the trailing 6-month period | 12.89% | 15.43% | -2.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.32% | 17.97% | -2.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.41% | 18.46% | -1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.21% | 17.89% | -0.68% |
CEU2.L vs. IS3R.DE - Expense Ratio Comparison
CEU2.L has a 0.12% expense ratio, which is lower than IS3R.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
CEU2.L vs. IS3R.DE - Dividend Comparison
Neither CEU2.L nor IS3R.DE has paid dividends to shareholders.
Frequently Asked Questions
CEU2.L and IS3R.DE have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEU2.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEU2.L is cheaper with a 0.12% expense ratio, compared with 0.25% for IS3R.DE.
CEU2.L is categorized as Europe Equities, while IS3R.DE is Momentum. CEU2.L tracks MSCI Europe Index, while IS3R.DE tracks MSCI World Momentum Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.12% for CEU2.L and 0.25% for IS3R.DE.
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