ETSZ.DE vs. CEMT.DE
ETSZ.DE (BNP Paribas Easy STOXX Europe 600 UCITS ETF) and CEMT.DE (iShares Edge MSCI Europe Size Factor UCITS ETF) are both Europe Equities funds - ETSZ.DE tracks the STOXX® Europe 600 while CEMT.DE tracks the MSCI Europe Mid Cap Equal Weighted. Both are passively managed. Over the past 10 years, ETSZ.DE returned 9.16%/yr vs 6.44%/yr for CEMT.DE. Their correlation of 0.91 suggests significant overlap in exposure. ETSZ.DE charges 0.20%/yr vs 0.25%/yr for CEMT.DE.
Performance
ETSZ.DE vs. CEMT.DE - Performance Comparison
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Returns By Period
Over the past 10 years, ETSZ.DE has outperformed CEMT.DE with an annualized return of 9.16%, while CEMT.DE has yielded a comparatively lower 6.44% 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%
CEMT.DE
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 4.36%
- 3Y*
- 9.41%
- 5Y*
- 4.08%
- 10Y*
- 6.44%
ETSZ.DE vs. CEMT.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% |
CEMT.DE iShares Edge MSCI Europe Size Factor UCITS ETF | 0.00% | 17.53% | 5.08% | 14.19% | -18.24% | 19.63% | 1.61% | 28.81% | -13.99% | 13.62% |
Correlation
The correlation between ETSZ.DE and CEMT.DE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2015 | 0.91 |
Over the past year, the correlation between ETSZ.DE and CEMT.DE has dropped to 0.49 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.
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Return for Risk
ETSZ.DE vs. CEMT.DE — Risk / Return Rank
ETSZ.DE
CEMT.DE
ETSZ.DE vs. CEMT.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 Size Factor UCITS ETF (CEMT.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 | CEMT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.21 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.10 | +0.62 |
| Martin ratioReturn relative to average drawdown | 6.45 | 4.03 | +2.42 |
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 | CEMT.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 0.77 | +0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.28 | +0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.40 | +0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.37 | +0.15 |
Drawdowns
ETSZ.DE vs. CEMT.DE - Drawdown Comparison
The maximum ETSZ.DE drawdown since its inception was -35.51%, smaller than the maximum CEMT.DE drawdown of -37.66%. Use the drawdown chart below to compare losses from any high point for ETSZ.DE and CEMT.DE.
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Drawdown Indicators
| ETSZ.DE | CEMT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.51% | -37.66% | +2.15% |
Max Drawdown (1Y)Largest decline over 1 year | -9.39% | -4.26% | -5.13% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -14.36% | -1.99% |
Max Drawdown (5Y)Largest decline over 5 years | -20.55% | -29.23% | +8.68% |
Max Drawdown (10Y)Largest decline over 10 years | -35.51% | -37.66% | +2.15% |
Current DrawdownCurrent decline from peak | -1.70% | -0.39% | -1.31% |
Average DrawdownAverage peak-to-trough decline | -5.41% | -7.08% | +1.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 1.16% | +1.35% |
Volatility
ETSZ.DE vs. CEMT.DE - Volatility Comparison
BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) has a higher volatility of 4.34% compared to iShares Edge MSCI Europe Size Factor UCITS ETF (CEMT.DE) at 0.00%. This indicates that ETSZ.DE's price experiences larger fluctuations and is considered to be riskier than CEMT.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 | CEMT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 0.00% | +4.34% |
Volatility (6M)Calculated over the trailing 6-month period | 10.64% | 0.00% | +10.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.84% | 6.11% | +6.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.39% | 14.61% | -0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 16.11% | -0.57% |
ETSZ.DE vs. CEMT.DE - Expense Ratio Comparison
ETSZ.DE has a 0.20% expense ratio, which is lower than CEMT.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. CEMT.DE - Dividend Comparison
Neither ETSZ.DE nor CEMT.DE has paid dividends to shareholders.
Frequently Asked Questions
ETSZ.DE and CEMT.DE have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 CEMT.DE.
ETSZ.DE tracks STOXX® Europe 600, while CEMT.DE tracks MSCI Europe Mid Cap Equal Weighted. They also come from different issuers: BNP Paribas and iShares. Their fees differ too: 0.20% for ETSZ.DE and 0.25% for CEMT.DE.
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