ETSZ.DE vs. CEMS.DE
ETSZ.DE (BNP Paribas Easy STOXX Europe 600 UCITS ETF) and CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) are both Europe Equities funds - ETSZ.DE tracks the STOXX® Europe 600 while CEMS.DE tracks the MSCI Europe Enhanced Value. Both are passively managed. Over the past 10 years, ETSZ.DE returned 9.16%/yr vs 10.71%/yr for CEMS.DE. Their correlation of 0.92 suggests significant overlap in exposure. ETSZ.DE charges 0.20%/yr vs 0.25%/yr for CEMS.DE.
Performance
ETSZ.DE vs. CEMS.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ETSZ.DE achieves a 7.24% return, which is significantly lower than CEMS.DE's 13.72% return. Over the past 10 years, ETSZ.DE has underperformed CEMS.DE with an annualized return of 9.16%, while CEMS.DE has yielded a comparatively higher 10.71% annualized return.
ETSZ.DE
- 1D
- 0.59%
- 1M
- 3.00%
- YTD
- 7.24%
- 6M
- 9.76%
- 1Y
- 16.19%
- 3Y*
- 13.72%
- 5Y*
- 9.62%
- 10Y*
- 9.16%
CEMS.DE
- 1D
- 0.10%
- 1M
- 4.58%
- YTD
- 13.72%
- 6M
- 16.86%
- 1Y
- 33.02%
- 3Y*
- 21.63%
- 5Y*
- 14.47%
- 10Y*
- 10.71%
ETSZ.DE vs. CEMS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETSZ.DE BNP Paribas Easy STOXX Europe 600 UCITS ETF | 7.24% | 20.43% | 8.21% | 15.61% | -10.31% | 24.89% | -1.49% | 28.86% | -11.18% | 10.63% |
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 ETSZ.DE and CEMS.DE is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2015 | 0.92 |
The correlation between ETSZ.DE and CEMS.DE has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.
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Return for Risk
ETSZ.DE vs. CEMS.DE — Risk / Return Rank
ETSZ.DE
CEMS.DE
ETSZ.DE vs. CEMS.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.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.
| ETSZ.DE | CEMS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.43 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 3.29 | -1.57 |
| Martin ratioReturn relative to average drawdown | 6.45 | 12.37 | -5.92 |
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
| ETSZ.DE | CEMS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 2.37 | -1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.94 | -0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.61 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.49 | +0.03 |
Drawdowns
ETSZ.DE vs. CEMS.DE - Drawdown Comparison
The maximum ETSZ.DE drawdown since its inception was -35.51%, smaller than the maximum CEMS.DE drawdown of -40.20%. Use the drawdown chart below to compare losses from any high point for ETSZ.DE and CEMS.DE.
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Drawdown Indicators
| ETSZ.DE | CEMS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.51% | -40.20% | +4.69% |
Max Drawdown (1Y)Largest decline over 1 year | -9.39% | -9.99% | +0.60% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -17.57% | +1.22% |
Max Drawdown (5Y)Largest decline over 5 years | -20.55% | -19.55% | -1.00% |
Max Drawdown (10Y)Largest decline over 10 years | -35.51% | -40.20% | +4.69% |
Current DrawdownCurrent decline from peak | -1.70% | -1.26% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -5.41% | -7.49% | +2.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 2.66% | -0.15% |
Volatility
ETSZ.DE vs. CEMS.DE - Volatility Comparison
The current volatility for BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) is 4.34%, while iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.DE) has a volatility of 4.65%. This indicates that ETSZ.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
| ETSZ.DE | CEMS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 4.65% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 10.64% | 11.17% | -0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.84% | 13.87% | -1.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.39% | 15.23% | -0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 17.43% | -1.89% |
ETSZ.DE vs. CEMS.DE - Expense Ratio Comparison
ETSZ.DE has a 0.20% expense ratio, which is lower than CEMS.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ETSZ.DE vs. CEMS.DE - Dividend Comparison
Neither ETSZ.DE nor CEMS.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, ETSZ.DE and CEMS.DE 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.
On fees, ETSZ.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETSZ.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for CEMS.DE.
ETSZ.DE tracks STOXX® Europe 600, while CEMS.DE tracks MSCI Europe Enhanced Value. They also come from different issuers: BNP Paribas and iShares. Their fees differ too: 0.20% for ETSZ.DE and 0.25% for CEMS.DE.
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