IEFV.L vs. CEMU.AS
IEFV.L (iShares Edge MSCI Europe Value Factor UCITS ETF) and CEMU.AS (iShares Core MSCI EMU UCITS ETF EUR (Acc)) are both Europe Equities funds from iShares - IEFV.L tracks the MSCI Europe Value NR EUR while CEMU.AS tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 10 years, IEFV.L returned 12.53%/yr vs 11.10%/yr for CEMU.AS. Their correlation of 0.86 suggests significant overlap in exposure. IEFV.L charges 0.25%/yr vs 0.12%/yr for CEMU.AS.
Performance
IEFV.L vs. CEMU.AS - Performance Comparison
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Different Trading Currencies
IEFV.L is traded in GBp, while CEMU.AS is traded in EUR. To make them comparable, the CEMU.AS values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IEFV.L achieves a 13.29% return, which is significantly higher than CEMU.AS's 7.84% return. Over the past 10 years, IEFV.L has outperformed CEMU.AS with an annualized return of 12.53%, while CEMU.AS has yielded a comparatively lower 11.10% annualized return.
IEFV.L
- 1D
- 2.32%
- 1M
- 3.09%
- YTD
- 13.29%
- 6M
- 14.84%
- 1Y
- 34.42%
- 3Y*
- 21.49%
- 5Y*
- 14.55%
- 10Y*
- 12.53%
CEMU.AS
- 1D
- 0.68%
- 1M
- 3.96%
- YTD
- 7.84%
- 6M
- 8.97%
- 1Y
- 20.68%
- 3Y*
- 16.27%
- 5Y*
- 10.76%
- 10Y*
- 11.10%
IEFV.L vs. CEMU.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEFV.L iShares Edge MSCI Europe Value Factor UCITS ETF | 13.29% | 42.20% | 5.40% | 11.41% | 1.47% | 18.58% | -3.74% | 15.71% | -12.67% | 14.28% |
CEMU.AS iShares Core MSCI EMU UCITS ETF EUR (Acc) | 7.84% | 31.08% | 5.07% | 16.28% | -7.15% | 15.81% | 5.09% | 17.99% | -10.95% | 17.47% |
Correlation
The correlation between IEFV.L and CEMU.AS is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2015 | 0.86 |
The correlation between IEFV.L and CEMU.AS has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.
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Return for Risk
IEFV.L vs. CEMU.AS — Risk / Return Rank
IEFV.L
CEMU.AS
IEFV.L vs. CEMU.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L) 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.
| IEFV.L | CEMU.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.27 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 1.92 | +1.32 |
| Martin ratioReturn relative to average drawdown | 11.85 | 6.87 | +4.98 |
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Drawdowns
IEFV.L vs. CEMU.AS - Drawdown Comparison
The maximum IEFV.L drawdown since its inception was -34.64%, which is greater than CEMU.AS's maximum drawdown of -30.69%. Use the drawdown chart below to compare losses from any high point for IEFV.L and CEMU.AS.
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Drawdown Indicators
| IEFV.L | CEMU.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.64% | -30.69% | -3.95% |
Max Drawdown (1Y)Largest decline over 1 year | -10.57% | -10.87% | +0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -15.02% | -13.91% | -1.11% |
Max Drawdown (5Y)Largest decline over 5 years | -16.16% | -22.06% | +5.90% |
Max Drawdown (10Y)Largest decline over 10 years | -34.64% | -30.69% | -3.95% |
Current DrawdownCurrent decline from peak | -0.39% | -0.24% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -6.20% | -5.15% | -1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 3.05% | -0.15% |
Volatility
IEFV.L vs. CEMU.AS - Volatility Comparison
iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L) and iShares Core MSCI EMU UCITS ETF EUR (Acc) (CEMU.AS) have volatilities of 4.41% and 4.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEFV.L | CEMU.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.41% | 4.42% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 11.07% | 11.93% | -0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.57% | 14.23% | -0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.11% | 16.30% | +0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.63% | 16.99% | +0.64% |
IEFV.L vs. CEMU.AS - Expense Ratio Comparison
IEFV.L has a 0.25% expense ratio, which is higher than CEMU.AS's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IEFV.L vs. CEMU.AS - Dividend Comparison
Neither IEFV.L nor CEMU.AS has paid dividends to shareholders.
Frequently Asked Questions
IEFV.L and CEMU.AS have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEMU.AS is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEMU.AS is cheaper with a 0.12% expense ratio, compared with 0.25% for IEFV.L.
IEFV.L tracks MSCI Europe Value NR EUR, while CEMU.AS tracks MSCI EMU NR EUR. Their fees differ too: 0.25% for IEFV.L and 0.12% for CEMU.AS.
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