CEUG.DE vs. EXS2.DE
CEUG.DE (iShares MSCI EMU UCITS ETF GBP Hedged (Dist)) and EXS2.DE (iShares TecDAX UCITS ETF (DE)) are both Europe Equities funds - CEUG.DE tracks the MSCI Europe NR EUR while EXS2.DE tracks the TecDAX®. Both are passively managed. Over the past 10 years, CEUG.DE returned 8.85%/yr vs 9.01%/yr for EXS2.DE. A 0.74 correlation means they provide meaningful diversification when combined. CEUG.DE charges 0.12%/yr vs 0.51%/yr for EXS2.DE.
Performance
CEUG.DE vs. EXS2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CEUG.DE achieves a 7.45% return, which is significantly lower than EXS2.DE's 15.70% return. Both investments have delivered pretty close results over the past 10 years, with CEUG.DE having a 8.85% annualized return and EXS2.DE not far ahead at 9.01%.
CEUG.DE
- 1D
- 0.60%
- 1M
- 3.72%
- YTD
- 7.45%
- 6M
- 10.20%
- 1Y
- 16.71%
- 3Y*
- 13.62%
- 5Y*
- 9.35%
- 10Y*
- 8.85%
EXS2.DE
- 1D
- 0.52%
- 1M
- 10.51%
- YTD
- 15.70%
- 6M
- 16.91%
- 1Y
- 6.46%
- 3Y*
- 8.54%
- 5Y*
- 3.72%
- 10Y*
- 9.01%
CEUG.DE vs. EXS2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEUG.DE iShares MSCI EMU UCITS ETF GBP Hedged (Dist) | 7.45% | 19.02% | 9.58% | 15.40% | -11.56% | 25.11% | -3.26% | 27.70% | -10.95% | 10.55% |
EXS2.DE iShares TecDAX UCITS ETF (DE) | 15.70% | 5.33% | 1.63% | 13.54% | -26.00% | 21.07% | 6.12% | 22.25% | -3.77% | 39.90% |
Correlation
The correlation between CEUG.DE and EXS2.DE is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2010 | 0.74 |
The correlation between CEUG.DE and EXS2.DE has been stable across timeframes, ranging from 0.70 to 0.77 - a consistent structural relationship.
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Return for Risk
CEUG.DE vs. EXS2.DE — Risk / Return Rank
CEUG.DE
EXS2.DE
CEUG.DE vs. EXS2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EMU UCITS ETF GBP Hedged (Dist) (CEUG.DE) and iShares TecDAX UCITS ETF (DE) (EXS2.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.
| CEUG.DE | EXS2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.07 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 0.40 | +1.26 |
| Martin ratioReturn relative to average drawdown | 6.05 | 0.80 | +5.25 |
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
| CEUG.DE | EXS2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.24 | 0.36 | +0.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 0.20 | +0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.46 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.14 | +0.38 |
Drawdowns
CEUG.DE vs. EXS2.DE - Drawdown Comparison
The maximum CEUG.DE drawdown since its inception was -35.67%, smaller than the maximum EXS2.DE drawdown of -84.49%. Use the drawdown chart below to compare losses from any high point for CEUG.DE and EXS2.DE.
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Drawdown Indicators
| CEUG.DE | EXS2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.67% | -84.49% | +48.82% |
Max Drawdown (1Y)Largest decline over 1 year | -10.05% | -16.12% | +6.07% |
Max Drawdown (3Y)Largest decline over 3 years | -16.67% | -17.93% | +1.26% |
Max Drawdown (5Y)Largest decline over 5 years | -21.04% | -34.97% | +13.93% |
Max Drawdown (10Y)Largest decline over 10 years | -35.67% | -34.97% | -0.70% |
Current DrawdownCurrent decline from peak | -1.56% | -0.81% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -5.57% | -39.46% | +33.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 8.07% | -5.31% |
Volatility
CEUG.DE vs. EXS2.DE - Volatility Comparison
The current volatility for iShares MSCI EMU UCITS ETF GBP Hedged (Dist) (CEUG.DE) is 4.42%, while iShares TecDAX UCITS ETF (DE) (EXS2.DE) has a volatility of 5.29%. This indicates that CEUG.DE experiences smaller price fluctuations and is considered to be less risky than EXS2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEUG.DE | EXS2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 5.29% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 11.04% | 14.25% | -3.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.41% | 17.83% | -4.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.36% | 18.80% | -4.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.62% | 19.47% | -3.85% |
CEUG.DE vs. EXS2.DE - Expense Ratio Comparison
CEUG.DE has a 0.12% expense ratio, which is lower than EXS2.DE's 0.51% expense ratio.
Dividends
CEUG.DE vs. EXS2.DE - Dividend Comparison
Neither CEUG.DE nor EXS2.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEUG.DE iShares MSCI EMU UCITS ETF GBP Hedged (Dist) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EXS2.DE iShares TecDAX UCITS ETF (DE) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.15% | 0.25% | 0.36% |
Frequently Asked Questions
CEUG.DE and EXS2.DE have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEUG.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEUG.DE is cheaper with a 0.12% expense ratio, compared with 0.51% for EXS2.DE.
CEUG.DE tracks MSCI Europe NR EUR, while EXS2.DE tracks TecDAX®. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.12% for CEUG.DE and 0.51% for EXS2.DE.
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