ED3F.DE vs. CEUG.DE
ED3F.DE (Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating) and CEUG.DE (iShares MSCI EMU UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - ED3F.DE is a Aerospace & Defense fund tracking the Mirae Asset Europe Defence Tech Index, while CEUG.DE is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past year, ED3F.DE returned -1.88% vs 16.71% for CEUG.DE. At a 0.28 correlation, their price movements are largely independent. ED3F.DE charges 0.40%/yr vs 0.12%/yr for CEUG.DE.
Performance
ED3F.DE vs. CEUG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ED3F.DE achieves a 0.02% return, which is significantly lower than CEUG.DE's 7.45% return.
ED3F.DE
- 1D
- -0.42%
- 1M
- -8.21%
- YTD
- 0.02%
- 6M
- 4.46%
- 1Y
- -1.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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%
ED3F.DE vs. CEUG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ED3F.DE Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating | 0.02% | 4.82% |
CEUG.DE iShares MSCI EMU UCITS ETF GBP Hedged (Dist) | 7.45% | 8.40% |
Correlation
The correlation between ED3F.DE and CEUG.DE is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since May 23, 2025 | 0.28 |
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Return for Risk
ED3F.DE vs. CEUG.DE — Risk / Return Rank
ED3F.DE
CEUG.DE
ED3F.DE vs. CEUG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating (ED3F.DE) and iShares MSCI EMU UCITS ETF GBP Hedged (Dist) (CEUG.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.
| ED3F.DE | CEUG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.30 | ||
| Sortino ratioReturn per unit of downside risk | -1.70 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.23 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.08 | 1.65 | -1.73 |
| Martin ratioReturn relative to average drawdown | -0.18 | 6.05 | -6.23 |
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
| ED3F.DE | CEUG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.06 | 1.24 | -1.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.64 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.52 | -0.37 |
Drawdowns
ED3F.DE vs. CEUG.DE - Drawdown Comparison
The maximum ED3F.DE drawdown since its inception was -23.91%, smaller than the maximum CEUG.DE drawdown of -35.67%. Use the drawdown chart below to compare losses from any high point for ED3F.DE and CEUG.DE.
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Drawdown Indicators
| ED3F.DE | CEUG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.91% | -35.67% | +11.76% |
Max Drawdown (1Y)Largest decline over 1 year | -23.91% | -10.05% | -13.86% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.67% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.04% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.67% | — |
Current DrawdownCurrent decline from peak | -20.80% | -1.56% | -19.24% |
Average DrawdownAverage peak-to-trough decline | -8.37% | -5.57% | -2.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.25% | 2.76% | +7.49% |
Volatility
ED3F.DE vs. CEUG.DE - Volatility Comparison
Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating (ED3F.DE) has a higher volatility of 10.58% compared to iShares MSCI EMU UCITS ETF GBP Hedged (Dist) (CEUG.DE) at 4.42%. This indicates that ED3F.DE's price experiences larger fluctuations and is considered to be riskier than CEUG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ED3F.DE | CEUG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.58% | 4.42% | +6.16% |
Volatility (6M)Calculated over the trailing 6-month period | 22.80% | 11.04% | +11.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.60% | 13.41% | +17.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.42% | 14.36% | +16.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.42% | 15.62% | +14.80% |
ED3F.DE vs. CEUG.DE - Expense Ratio Comparison
ED3F.DE has a 0.40% expense ratio, which is higher than CEUG.DE's 0.12% expense ratio.
Dividends
ED3F.DE vs. CEUG.DE - Dividend Comparison
Neither ED3F.DE nor CEUG.DE has paid dividends to shareholders.
Frequently Asked Questions
ED3F.DE and CEUG.DE have a correlation of 0.29, 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 0.40% for ED3F.DE.
ED3F.DE is categorized as Aerospace & Defense, while CEUG.DE is Europe Equities. ED3F.DE tracks Mirae Asset Europe Defence Tech Index, while CEUG.DE tracks MSCI Europe NR EUR. They also come from different issuers: Global X and Amundi. Their fees differ too: 0.40% for ED3F.DE and 0.12% for CEUG.DE.
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