EMNE.DE vs. SEMI.AS
EMNE.DE (iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist)) and SEMI.AS (iShares MSCI Global Semiconductors UCITS ETF USD Acc) are both exchange-traded funds - EMNE.DE is a Europe Equities fund tracking the MSCI EMU ESG Enhanced Focus CTB Index, while SEMI.AS is a Semiconductors fund tracking the MSCI ACWI IMI Semiconductors & Semiconductor Equipment ESG Screened Select Capped Index. Both are passively managed. Over the past 3 years, EMNE.DE returned 14.84%/yr vs 51.21%/yr for SEMI.AS. A 0.62 correlation means they provide meaningful diversification when combined. EMNE.DE charges 0.12%/yr vs 0.35%/yr for SEMI.AS.
Performance
EMNE.DE vs. SEMI.AS - Performance Comparison
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Different Trading Currencies
EMNE.DE is traded in EUR, while SEMI.AS is traded in USD. To make them comparable, the SEMI.AS values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMNE.DE achieves a 9.92% return, which is significantly lower than SEMI.AS's 82.35% return.
EMNE.DE
- 1D
- 0.22%
- 1M
- -2.09%
- 6M
- 8.22%
- YTD
- 9.92%
- 1Y
- 18.82%
- 3Y*
- 14.84%
- 5Y*
- 10.42%
- 10Y*
- —
- ALL TIME*
- 11.44%
SEMI.AS
- 1D
- 2.36%
- 1M
- -16.47%
- 6M
- 61.16%
- YTD
- 82.35%
- 1Y
- 137.66%
- 3Y*
- 51.21%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 31.96%
EMNE.DE vs. SEMI.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 9.92% | 22.18% | 9.86% | 18.79% | -12.35% | 3.54% |
SEMI.AS iShares MSCI Global Semiconductors UCITS ETF USD Acc | 82.35% | 34.67% | 22.72% | 60.83% | -31.82% | 19.61% |
Correlation
The correlation between EMNE.DE and SEMI.AS is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2021 | 0.62 |
The correlation between EMNE.DE and SEMI.AS has been stable across timeframes, ranging from 0.57 to 0.62 - a consistent structural relationship.
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Return for Risk
EMNE.DE vs. SEMI.AS — Risk / Return Rank
EMNE.DE
SEMI.AS
EMNE.DE vs. SEMI.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.DE) and iShares MSCI Global Semiconductors UCITS ETF USD Acc (SEMI.AS). 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.
| EMNE.DE | SEMI.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.29 | ||
| Sortino ratioReturn per unit of downside risk | -1.92 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.49 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 6.60 | -4.88 |
| Martin ratioReturn relative to average drawdown | 6.34 | 26.71 | -20.36 |
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Drawdowns
EMNE.DE vs. SEMI.AS - Drawdown Comparison
The maximum EMNE.DE drawdown since its inception was -34.37%, smaller than the maximum SEMI.AS drawdown of -38.90%. Use the drawdown chart below to compare losses from any high point for EMNE.DE and SEMI.AS.
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Drawdown Indicators
| EMNE.DE | SEMI.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.37% | -38.90% | +4.53% |
Max Drawdown (1Y)Largest decline over 1 year | -10.90% | -20.49% | +9.59% |
Max Drawdown (3Y)Largest decline over 3 years | -15.10% | -38.90% | +23.80% |
Max Drawdown (5Y)Largest decline over 5 years | -24.70% | — | — |
Current DrawdownCurrent decline from peak | -2.73% | -18.62% | +15.89% |
Average DrawdownAverage peak-to-trough decline | -5.19% | -11.69% | +6.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 5.08% | -2.12% |
Volatility
EMNE.DE vs. SEMI.AS - Volatility Comparison
The current volatility for iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.DE) is 3.80%, while iShares MSCI Global Semiconductors UCITS ETF USD Acc (SEMI.AS) has a volatility of 18.00%. This indicates that EMNE.DE experiences smaller price fluctuations and is considered to be less risky than SEMI.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMNE.DE | SEMI.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.80% | 18.00% | -14.20% |
Volatility (6M)Calculated over the trailing 6-month period | 12.63% | 31.92% | -19.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.93% | 38.17% | -23.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.24% | 31.72% | -15.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.98% | 31.72% | -11.74% |
EMNE.DE vs. SEMI.AS - Expense Ratio Comparison
EMNE.DE has a 0.12% expense ratio, which is lower than SEMI.AS's 0.35% expense ratio.
Dividends
EMNE.DE vs. SEMI.AS - Dividend Comparison
EMNE.DE's dividend yield for the trailing twelve months is around 2.39%, while SEMI.AS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 2.39% | 2.61% | 2.95% | 3.17% | 3.34% | 2.40% | 1.85% | 2.67% |
SEMI.AS iShares MSCI Global Semiconductors UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMNE.DE and SEMI.AS have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMNE.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMNE.DE is cheaper with a 0.12% expense ratio, compared with 0.35% for SEMI.AS.
EMNE.DE is categorized as Europe Equities, while SEMI.AS is Semiconductors. EMNE.DE tracks MSCI EMU ESG Enhanced Focus CTB Index, while SEMI.AS tracks MSCI ACWI IMI Semiconductors & Semiconductor Equipment ESG Screened Select Capped Index. Their fees differ too: 0.12% for EMNE.DE and 0.35% for SEMI.AS.
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