ESIC.L vs. CDCE.L
ESIC.L (iShares MSCI Europe Consumer Discretionary Sector UCITS ETF EUR (Acc)) and CDCE.L (SPDR MSCI Europe Consumer Discretionary UCITS ETF) are both Consumer Discretionary Equities funds tracking the Cat 50%MSCI Wld/CD NR&50%MSCI Wld/CS NR, from iShares and State Street respectively. Both are passively managed. Over the past 3 years, ESIC.L returned -2.82%/yr vs -2.82%/yr for CDCE.L. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.18% expense ratio.
Performance
ESIC.L vs. CDCE.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ESIC.L having a -11.67% return and CDCE.L slightly lower at -11.91%.
ESIC.L
- 1D
- 0.48%
- 1M
- 7.15%
- YTD
- -11.67%
- 6M
- -11.51%
- 1Y
- -3.34%
- 3Y*
- -2.82%
- 5Y*
- -1.55%
- 10Y*
- —
CDCE.L
- 1D
- 0.51%
- 1M
- 7.22%
- YTD
- -11.91%
- 6M
- -11.59%
- 1Y
- -3.25%
- 3Y*
- -2.82%
- 5Y*
- —
- 10Y*
- —
ESIC.L vs. CDCE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ESIC.L iShares MSCI Europe Consumer Discretionary Sector UCITS ETF EUR (Acc) | -11.67% | 7.11% | -1.15% | 12.93% | 8.58% |
CDCE.L SPDR MSCI Europe Consumer Discretionary UCITS ETF | -11.91% | 7.38% | -1.21% | 13.03% | 8.39% |
Correlation
The correlation between ESIC.L and CDCE.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Apr 25, 2022 | 0.94 |
The correlation between ESIC.L and CDCE.L has been stable across timeframes, ranging from 0.94 to 0.99 - a consistent structural relationship.
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Return for Risk
ESIC.L vs. CDCE.L — Risk / Return Rank
ESIC.L
CDCE.L
ESIC.L vs. CDCE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe Consumer Discretionary Sector UCITS ETF EUR (Acc) (ESIC.L) and SPDR MSCI Europe Consumer Discretionary UCITS ETF (CDCE.L). 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.
| ESIC.L | CDCE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.99 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.15 | -0.15 | 0.00 |
| Martin ratioReturn relative to average drawdown | -0.35 | -0.34 | -0.01 |
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
| ESIC.L | CDCE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.17 | -0.17 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.07 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.16 | -0.05 |
Drawdowns
ESIC.L vs. CDCE.L - Drawdown Comparison
The maximum ESIC.L drawdown since its inception was -28.93%, which is greater than CDCE.L's maximum drawdown of -23.43%. Use the drawdown chart below to compare losses from any high point for ESIC.L and CDCE.L.
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Drawdown Indicators
| ESIC.L | CDCE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.93% | -23.43% | -5.50% |
Max Drawdown (1Y)Largest decline over 1 year | -21.82% | -21.92% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -23.39% | -23.43% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -28.93% | — | — |
Current DrawdownCurrent decline from peak | -15.64% | -15.67% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -9.39% | -7.90% | -1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.50% | 9.52% | -0.02% |
Volatility
ESIC.L vs. CDCE.L - Volatility Comparison
The current volatility for iShares MSCI Europe Consumer Discretionary Sector UCITS ETF EUR (Acc) (ESIC.L) is 6.36%, while SPDR MSCI Europe Consumer Discretionary UCITS ETF (CDCE.L) has a volatility of 6.73%. This indicates that ESIC.L experiences smaller price fluctuations and is considered to be less risky than CDCE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESIC.L | CDCE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.36% | 6.73% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 15.17% | 15.57% | -0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.03% | 19.33% | -0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.84% | 20.48% | +0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.37% | 20.48% | -0.11% |
ESIC.L vs. CDCE.L - Expense Ratio Comparison
Both ESIC.L and CDCE.L have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
ESIC.L vs. CDCE.L - Dividend Comparison
Neither ESIC.L nor CDCE.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, ESIC.L and CDCE.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ESIC.L and CDCE.L have the same expense ratio: 0.18% per year.
Both ETFs track Cat 50%MSCI Wld/CD NR&50%MSCI Wld/CS NR. They also come from different issuers: iShares and State Street.
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