E903.DE vs. CEMS.DE
E903.DE (Amundi DivDAX II UCITS ETF Dist) and CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) are both Europe Equities funds - E903.DE tracks the DivDAX® while CEMS.DE tracks the MSCI Europe Enhanced Value. Both are passively managed. Over the past 10 years, E903.DE returned 7.64%/yr vs 10.71%/yr for CEMS.DE. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.
Performance
E903.DE vs. CEMS.DE - Performance Comparison
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Returns By Period
In the year-to-date period, E903.DE achieves a 1.54% return, which is significantly lower than CEMS.DE's 13.72% return. Over the past 10 years, E903.DE has underperformed CEMS.DE with an annualized return of 7.64%, while CEMS.DE has yielded a comparatively higher 10.71% annualized return.
E903.DE
- 1D
- -0.69%
- 1M
- -2.94%
- YTD
- 1.54%
- 6M
- 3.05%
- 1Y
- 8.07%
- 3Y*
- 9.49%
- 5Y*
- 5.65%
- 10Y*
- 7.64%
CEMS.DE
- 1D
- 0.10%
- 1M
- 2.64%
- YTD
- 13.72%
- 6M
- 16.98%
- 1Y
- 32.08%
- 3Y*
- 21.63%
- 5Y*
- 14.47%
- 10Y*
- 10.71%
E903.DE vs. CEMS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
E903.DE Amundi DivDAX II UCITS ETF Dist | 1.54% | 21.96% | 4.36% | 17.02% | -10.82% | 13.58% | 1.62% | 23.29% | -16.27% | 13.76% |
CEMS.DE iShares Edge MSCI Europe Value Factor UCITS ETF | 13.72% | 35.97% | 9.93% | 13.90% | -4.54% | 26.62% | -8.86% | 23.48% | -14.04% | 10.16% |
Correlation
The correlation between E903.DE and CEMS.DE is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2015 | 0.88 |
The correlation between E903.DE and CEMS.DE shifts across timeframes, from 0.77 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
E903.DE vs. CEMS.DE — Risk / Return Rank
E903.DE
CEMS.DE
E903.DE vs. CEMS.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi DivDAX II UCITS ETF Dist (E903.DE) and iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.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.
| E903.DE | CEMS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.79 | ||
| Sortino ratioReturn per unit of downside risk | -2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.43 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 3.29 | -2.45 |
| Martin ratioReturn relative to average drawdown | 2.33 | 12.37 | -10.03 |
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
| E903.DE | CEMS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.58 | 2.37 | -1.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.94 | -0.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.61 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.49 | -0.15 |
Drawdowns
E903.DE vs. CEMS.DE - Drawdown Comparison
The maximum E903.DE drawdown since its inception was -41.56%, roughly equal to the maximum CEMS.DE drawdown of -40.20%. Use the drawdown chart below to compare losses from any high point for E903.DE and CEMS.DE.
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Drawdown Indicators
| E903.DE | CEMS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.56% | -40.20% | -1.36% |
Max Drawdown (1Y)Largest decline over 1 year | -9.92% | -9.99% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -15.78% | -17.57% | +1.79% |
Max Drawdown (5Y)Largest decline over 5 years | -25.37% | -19.55% | -5.82% |
Max Drawdown (10Y)Largest decline over 10 years | -41.56% | -40.20% | -1.36% |
Current DrawdownCurrent decline from peak | -5.02% | -1.26% | -3.76% |
Average DrawdownAverage peak-to-trough decline | -6.52% | -7.49% | +0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.55% | 2.66% | +0.89% |
Volatility
E903.DE vs. CEMS.DE - Volatility Comparison
The current volatility for Amundi DivDAX II UCITS ETF Dist (E903.DE) is 3.68%, while iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.DE) has a volatility of 4.65%. This indicates that E903.DE experiences smaller price fluctuations and is considered to be less risky than CEMS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| E903.DE | CEMS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 4.65% | -0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 11.25% | 11.17% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.37% | 13.87% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.11% | 15.23% | +1.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.68% | 17.43% | +1.25% |
E903.DE vs. CEMS.DE - Expense Ratio Comparison
Both E903.DE and CEMS.DE have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
E903.DE vs. CEMS.DE - Dividend Comparison
E903.DE's dividend yield for the trailing twelve months is around 3.61%, while CEMS.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CEMS.DE iShares Edge MSCI Europe Value Factor UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
E903.DE Amundi DivDAX II UCITS ETF Dist | 3.61% | 3.66% | 4.20% | 5.26% | 3.88% | 2.62% | 3.28% | 3.24% | 3.74% | 2.45% | 2.97% |
Frequently Asked Questions
E903.DE and CEMS.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
E903.DE and CEMS.DE have the same expense ratio: 0.25% per year.
E903.DE tracks DivDAX®, while CEMS.DE tracks MSCI Europe Enhanced Value. They also come from different issuers: Amundi and iShares.
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