I500.DE vs. CEMU.AS
I500.DE (iShares S&P 500 Swap UCITS ETF USD (Acc)) and CEMU.AS (iShares Core MSCI EMU UCITS ETF EUR (Acc)) are both exchange-traded funds - I500.DE is a S&P 500 fund tracking the S&P 500 Index, while CEMU.AS is a Europe Equities fund tracking the MSCI EMU NR EUR. Both are passively managed. Over the past 5 years, I500.DE returned 15.00%/yr vs 10.62%/yr for CEMU.AS. A 0.64 correlation means they provide meaningful diversification when combined. I500.DE charges 0.07%/yr vs 0.12%/yr for CEMU.AS.
Performance
I500.DE vs. CEMU.AS - Performance Comparison
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Returns By Period
In the year-to-date period, I500.DE achieves a 11.45% return, which is significantly higher than CEMU.AS's 8.68% return.
I500.DE
- 1D
- -0.12%
- 1M
- 2.96%
- YTD
- 11.45%
- 6M
- 12.73%
- 1Y
- 26.34%
- 3Y*
- 19.08%
- 5Y*
- 15.00%
- 10Y*
- —
CEMU.AS
- 1D
- 0.60%
- 1M
- 4.11%
- YTD
- 8.68%
- 6M
- 10.61%
- 1Y
- 18.65%
- 3Y*
- 16.12%
- 5Y*
- 10.62%
- 10Y*
- 10.03%
I500.DE vs. CEMU.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
I500.DE iShares S&P 500 Swap UCITS ETF USD (Acc) | 11.45% | 4.94% | 32.50% | 22.82% | -14.07% | 41.05% | 6.32% |
CEMU.AS iShares Core MSCI EMU UCITS ETF EUR (Acc) | 8.68% | 24.42% | 10.08% | 18.65% | -11.71% | 23.11% | 11.87% |
Correlation
The correlation between I500.DE and CEMU.AS is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2020 | 0.64 |
The correlation between I500.DE and CEMU.AS has been stable across timeframes, ranging from 0.55 to 0.64 - a consistent structural relationship.
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Return for Risk
I500.DE vs. CEMU.AS — Risk / Return Rank
I500.DE
CEMU.AS
I500.DE vs. CEMU.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Swap UCITS ETF USD (Acc) (I500.DE) and iShares Core MSCI EMU UCITS ETF EUR (Acc) (CEMU.AS). 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.
| I500.DE | CEMU.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.23 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.60 | 1.74 | +1.86 |
| Martin ratioReturn relative to average drawdown | 12.82 | 6.36 | +6.46 |
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Drawdowns
I500.DE vs. CEMU.AS - Drawdown Comparison
The maximum I500.DE drawdown since its inception was -23.24%, smaller than the maximum CEMU.AS drawdown of -38.38%. Use the drawdown chart below to compare losses from any high point for I500.DE and CEMU.AS.
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Drawdown Indicators
| I500.DE | CEMU.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.24% | -38.38% | +15.14% |
Max Drawdown (1Y)Largest decline over 1 year | -7.12% | -10.17% | +3.05% |
Max Drawdown (3Y)Largest decline over 3 years | -23.24% | -15.40% | -7.84% |
Max Drawdown (5Y)Largest decline over 5 years | -23.24% | -24.51% | +1.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.38% | — |
Current DrawdownCurrent decline from peak | -0.46% | -0.56% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -4.06% | -6.24% | +2.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 2.79% | -0.78% |
Volatility
I500.DE vs. CEMU.AS - Volatility Comparison
The current volatility for iShares S&P 500 Swap UCITS ETF USD (Acc) (I500.DE) is 2.65%, while iShares Core MSCI EMU UCITS ETF EUR (Acc) (CEMU.AS) has a volatility of 4.60%. This indicates that I500.DE experiences smaller price fluctuations and is considered to be less risky than CEMU.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| I500.DE | CEMU.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 4.60% | -1.95% |
Volatility (6M)Calculated over the trailing 6-month period | 7.60% | 11.95% | -4.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.65% | 14.49% | -2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.19% | 16.16% | -0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.13% | 17.08% | -1.95% |
I500.DE vs. CEMU.AS - Expense Ratio Comparison
I500.DE has a 0.07% expense ratio, which is lower than CEMU.AS's 0.12% 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
I500.DE vs. CEMU.AS - Dividend Comparison
Neither I500.DE nor CEMU.AS has paid dividends to shareholders.
Frequently Asked Questions
I500.DE and CEMU.AS have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, I500.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
I500.DE is cheaper with a 0.07% expense ratio, compared with 0.12% for CEMU.AS.
I500.DE is categorized as S&P 500, while CEMU.AS is Europe Equities. I500.DE tracks S&P 500 Index, while CEMU.AS tracks MSCI EMU NR EUR. Their fees differ too: 0.07% for I500.DE and 0.12% for CEMU.AS.
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