EUNL.DE vs. CEMS.DE
EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) and CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) are both exchange-traded funds - EUNL.DE is a Global Equities fund tracking the MSCI World Index, while CEMS.DE is a Europe Equities fund tracking the MSCI Europe Enhanced Value. Both are passively managed. Over the past 10 years, EUNL.DE returned 12.99%/yr vs 11.60%/yr for CEMS.DE. A 0.76 correlation means they provide meaningful diversification when combined. EUNL.DE charges 0.20%/yr vs 0.25%/yr for CEMS.DE.
Performance
EUNL.DE vs. CEMS.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUNL.DE achieves a 9.95% return, which is significantly lower than CEMS.DE's 14.37% return. Over the past 10 years, EUNL.DE has outperformed CEMS.DE with an annualized return of 12.99%, while CEMS.DE has yielded a comparatively lower 11.60% annualized return.
EUNL.DE
- 1D
- 1.66%
- 1M
- 2.05%
- YTD
- 9.95%
- 6M
- 11.17%
- 1Y
- 23.39%
- 3Y*
- 16.77%
- 5Y*
- 12.47%
- 10Y*
- 12.99%
CEMS.DE
- 1D
- 2.48%
- 1M
- 3.42%
- YTD
- 14.37%
- 6M
- 17.13%
- 1Y
- 32.78%
- 3Y*
- 21.17%
- 5Y*
- 14.39%
- 10Y*
- 11.60%
EUNL.DE vs. CEMS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 9.95% | 7.91% | 25.93% | 20.12% | -13.59% | 32.72% | 5.48% | 31.35% | -5.13% | 7.71% |
CEMS.DE iShares Edge MSCI Europe Value Factor UCITS ETF | 14.37% | 36.00% | 9.92% | 13.88% | -4.51% | 26.64% | -8.83% | 23.35% | -14.05% | 10.13% |
Correlation
The correlation between EUNL.DE and CEMS.DE is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015 | 0.76 |
The correlation between EUNL.DE and CEMS.DE shifts across timeframes, from 0.61 (3 years) to 0.76 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EUNL.DE vs. CEMS.DE — Risk / Return Rank
EUNL.DE
CEMS.DE
EUNL.DE vs. CEMS.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.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.
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.
| EUNL.DE | CEMS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.41 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 3.26 | +0.49 |
| Martin ratioReturn relative to average drawdown | 15.11 | 12.19 | +2.91 |
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Drawdowns
EUNL.DE vs. CEMS.DE - Drawdown Comparison
The maximum EUNL.DE drawdown since its inception was -33.63%, smaller than the maximum CEMS.DE drawdown of -40.22%. Use the drawdown chart below to compare losses from any high point for EUNL.DE and CEMS.DE.
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Drawdown Indicators
| EUNL.DE | CEMS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -40.22% | +6.59% |
Max Drawdown (1Y)Largest decline over 1 year | -6.22% | -10.02% | +3.80% |
Max Drawdown (3Y)Largest decline over 3 years | -21.73% | -17.61% | -4.12% |
Max Drawdown (5Y)Largest decline over 5 years | -21.73% | -19.56% | -2.17% |
Max Drawdown (10Y)Largest decline over 10 years | -33.63% | -40.22% | +6.59% |
Current DrawdownCurrent decline from peak | -1.13% | -0.66% | -0.47% |
Average DrawdownAverage peak-to-trough decline | -4.22% | -7.50% | +3.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 2.68% | -1.14% |
Volatility
EUNL.DE vs. CEMS.DE - Volatility Comparison
The current volatility for iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) is 3.08%, while iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.DE) has a volatility of 4.88%. This indicates that EUNL.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
| EUNL.DE | CEMS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | 4.88% | -1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 7.98% | 11.54% | -3.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.31% | 14.15% | -2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.18% | 15.31% | -1.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.16% | 17.46% | -2.30% |
EUNL.DE vs. CEMS.DE - Expense Ratio Comparison
EUNL.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
EUNL.DE vs. CEMS.DE - Dividend Comparison
Neither EUNL.DE nor CEMS.DE has paid dividends to shareholders.
Frequently Asked Questions
EUNL.DE and CEMS.DE have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNL.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNL.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for CEMS.DE.
EUNL.DE is categorized as Global Equities, while CEMS.DE is Europe Equities. EUNL.DE tracks MSCI World Index, while CEMS.DE tracks MSCI Europe Enhanced Value. Their fees differ too: 0.20% for EUNL.DE and 0.25% for CEMS.DE.
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