EXS3.DE vs. CEBP.DE
EXS3.DE (iShares MDAX UCITS ETF (DE)) and CEBP.DE (iShares MSCI EMU USD Hedged UCITS ETF (Acc)) are both Europe Equities funds from iShares - EXS3.DE tracks the MDAX® while CEBP.DE tracks the MSCI EMU 100% Hedged to USD Index. Both are passively managed. Over the past 10 years, EXS3.DE returned 3.70%/yr vs 12.11%/yr for CEBP.DE. A 0.74 correlation means they provide meaningful diversification when combined. EXS3.DE charges 0.51%/yr vs 0.38%/yr for CEBP.DE.
Performance
EXS3.DE vs. CEBP.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EXS3.DE achieves a 3.35% return, which is significantly lower than CEBP.DE's 14.84% return. Over the past 10 years, EXS3.DE has underperformed CEBP.DE with an annualized return of 3.70%, while CEBP.DE has yielded a comparatively higher 12.11% annualized return.
EXS3.DE
- 1D
- -0.50%
- 1M
- -3.07%
- 6M
- -0.63%
- YTD
- 3.35%
- 1Y
- 1.95%
- 3Y*
- 3.79%
- 5Y*
- -2.17%
- 10Y*
- 3.70%
CEBP.DE
- 1D
- -0.77%
- 1M
- -0.54%
- 6M
- 8.97%
- YTD
- 14.84%
- 1Y
- 23.72%
- 3Y*
- 17.15%
- 5Y*
- 13.84%
- 10Y*
- 12.11%
EXS3.DE vs. CEBP.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EXS3.DE iShares MDAX UCITS ETF (DE) | 3.35% | 19.10% | -6.45% | 7.92% | -29.11% | 13.18% | 8.17% | 30.28% | -18.39% | 17.41% |
CEBP.DE iShares MSCI EMU USD Hedged UCITS ETF (Acc) | 14.84% | 12.28% | 17.61% | 17.66% | -3.75% | 33.16% | -8.03% | 34.07% | -6.38% | 1.04% |
Correlation
The correlation between EXS3.DE and CEBP.DE is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2015 | 0.74 |
The correlation between EXS3.DE and CEBP.DE shifts across timeframes, from 0.64 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EXS3.DE vs. CEBP.DE — Risk / Return Rank
EXS3.DE
CEBP.DE
EXS3.DE vs. CEBP.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MDAX UCITS ETF (DE) (EXS3.DE) and iShares MSCI EMU USD Hedged UCITS ETF (Acc) (CEBP.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.
| EXS3.DE | CEBP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.54 | ||
| Sortino ratioReturn per unit of downside risk | -2.07 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.30 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.13 | 2.88 | -2.74 |
| Martin ratioReturn relative to average drawdown | 0.36 | 10.40 | -10.04 |
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Drawdowns
EXS3.DE vs. CEBP.DE - Drawdown Comparison
The maximum EXS3.DE drawdown since its inception was -63.82%, which is greater than CEBP.DE's maximum drawdown of -38.05%. Use the drawdown chart below to compare losses from any high point for EXS3.DE and CEBP.DE.
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Drawdown Indicators
| EXS3.DE | CEBP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.82% | -38.05% | -25.77% |
Max Drawdown (1Y)Largest decline over 1 year | -14.62% | -8.21% | -6.41% |
Max Drawdown (3Y)Largest decline over 3 years | -18.67% | -19.71% | +1.04% |
Max Drawdown (5Y)Largest decline over 5 years | -40.31% | -19.71% | -20.60% |
Max Drawdown (10Y)Largest decline over 10 years | -40.31% | -38.05% | -2.26% |
Current DrawdownCurrent decline from peak | -14.77% | -2.95% | -11.82% |
Average DrawdownAverage peak-to-trough decline | -14.82% | -6.56% | -8.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.43% | 2.27% | +3.16% |
Volatility
EXS3.DE vs. CEBP.DE - Volatility Comparison
iShares MDAX UCITS ETF (DE) (EXS3.DE) has a higher volatility of 5.33% compared to iShares MSCI EMU USD Hedged UCITS ETF (Acc) (CEBP.DE) at 3.47%. This indicates that EXS3.DE's price experiences larger fluctuations and is considered to be riskier than CEBP.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EXS3.DE | CEBP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.33% | 3.47% | +1.86% |
Volatility (6M)Calculated over the trailing 6-month period | 15.87% | 11.01% | +4.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.81% | 14.57% | +4.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.50% | 15.56% | +3.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.19% | 17.17% | +1.02% |
EXS3.DE vs. CEBP.DE - Expense Ratio Comparison
EXS3.DE has a 0.51% expense ratio, which is higher than CEBP.DE's 0.38% expense ratio.
Dividends
EXS3.DE vs. CEBP.DE - Dividend Comparison
Neither EXS3.DE nor CEBP.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEBP.DE iShares MSCI EMU USD Hedged UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EXS3.DE iShares MDAX UCITS ETF (DE) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.41% | 0.49% | 0.53% | 0.49% |
Frequently Asked Questions
EXS3.DE and CEBP.DE have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEBP.DE is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEBP.DE is cheaper with a 0.38% expense ratio, compared with 0.51% for EXS3.DE.
EXS3.DE tracks MDAX®, while CEBP.DE tracks MSCI EMU 100% Hedged to USD Index. Their fees differ too: 0.51% for EXS3.DE and 0.38% for CEBP.DE.
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