EXS3.DE vs. CEMS.DE
EXS3.DE (iShares MDAX UCITS ETF (DE)) and CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) are both Europe Equities funds from iShares - EXS3.DE tracks the MDAX® while CEMS.DE tracks the MSCI Europe Enhanced Value. Both are passively managed. Over the past 10 years, EXS3.DE returned 4.04%/yr vs 10.71%/yr for CEMS.DE. A 0.80 correlation means they provide meaningful diversification when combined. EXS3.DE charges 0.51%/yr vs 0.25%/yr for CEMS.DE.
Performance
EXS3.DE vs. CEMS.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EXS3.DE achieves a 6.43% return, which is significantly lower than CEMS.DE's 13.72% return. Over the past 10 years, EXS3.DE has underperformed CEMS.DE with an annualized return of 4.04%, while CEMS.DE has yielded a comparatively higher 10.71% annualized return.
EXS3.DE
- 1D
- 0.21%
- 1M
- 5.13%
- YTD
- 6.43%
- 6M
- 10.24%
- 1Y
- 4.92%
- 3Y*
- 6.03%
- 5Y*
- -1.18%
- 10Y*
- 4.04%
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%
EXS3.DE vs. CEMS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EXS3.DE iShares MDAX UCITS ETF (DE) | 6.43% | 19.10% | -6.45% | 7.92% | -29.11% | 13.18% | 8.17% | 30.28% | -18.39% | 17.41% |
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 EXS3.DE and CEMS.DE is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2015 | 0.80 |
The correlation between EXS3.DE and CEMS.DE has been stable across timeframes, ranging from 0.72 to 0.80 - a consistent structural relationship.
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Return for Risk
EXS3.DE vs. CEMS.DE — Risk / Return Rank
EXS3.DE
CEMS.DE
EXS3.DE vs. CEMS.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 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.
| EXS3.DE | CEMS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.11 | ||
| Sortino ratioReturn per unit of downside risk | -2.75 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.43 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 3.29 | -2.96 |
| Martin ratioReturn relative to average drawdown | 0.91 | 12.37 | -11.45 |
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
| EXS3.DE | CEMS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 2.37 | -2.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.06 | 0.94 | -1.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.61 | -0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.49 | -0.13 |
Drawdowns
EXS3.DE vs. CEMS.DE - Drawdown Comparison
The maximum EXS3.DE drawdown since its inception was -63.82%, which is greater than CEMS.DE's maximum drawdown of -40.20%. Use the drawdown chart below to compare losses from any high point for EXS3.DE and CEMS.DE.
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Drawdown Indicators
| EXS3.DE | CEMS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.82% | -40.20% | -23.62% |
Max Drawdown (1Y)Largest decline over 1 year | -14.57% | -9.99% | -4.58% |
Max Drawdown (3Y)Largest decline over 3 years | -18.67% | -17.57% | -1.10% |
Max Drawdown (5Y)Largest decline over 5 years | -40.31% | -19.55% | -20.76% |
Max Drawdown (10Y)Largest decline over 10 years | -40.31% | -40.20% | -0.11% |
Current DrawdownCurrent decline from peak | -12.23% | -1.26% | -10.97% |
Average DrawdownAverage peak-to-trough decline | -14.02% | -7.49% | -6.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.35% | 2.66% | +2.69% |
Volatility
EXS3.DE vs. CEMS.DE - Volatility Comparison
iShares MDAX UCITS ETF (DE) (EXS3.DE) has a higher volatility of 4.94% compared to iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.DE) at 4.65%. This indicates that EXS3.DE's price experiences larger fluctuations and is considered to be riskier 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
| EXS3.DE | CEMS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 4.65% | +0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 15.18% | 11.17% | +4.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.54% | 13.87% | +4.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.35% | 15.23% | +4.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.37% | 17.43% | +0.94% |
EXS3.DE vs. CEMS.DE - Expense Ratio Comparison
EXS3.DE has a 0.51% expense ratio, which is higher than CEMS.DE's 0.25% expense ratio.
Dividends
EXS3.DE vs. CEMS.DE - Dividend Comparison
Neither EXS3.DE nor CEMS.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEMS.DE iShares Edge MSCI Europe Value Factor UCITS ETF | 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 CEMS.DE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEMS.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEMS.DE is cheaper with a 0.25% expense ratio, compared with 0.51% for EXS3.DE.
EXS3.DE tracks MDAX®, while CEMS.DE tracks MSCI Europe Enhanced Value. Their fees differ too: 0.51% for EXS3.DE and 0.25% for CEMS.DE.
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