IQQU.DE vs. CEMT.DE

Last updated Jun 5, 2026

IQQU.DE (iShares MSCI Europe ex-UK UCITS ETF) and CEMT.DE (iShares Edge MSCI Europe Size Factor UCITS ETF) are both Europe Equities funds from iShares - IQQU.DE tracks the MSCI Europe ex UK while CEMT.DE tracks the MSCI Europe Mid Cap Equal Weighted. Both are passively managed. Over the past 10 years, IQQU.DE returned 9.38%/yr vs 6.44%/yr for CEMT.DE. Their correlation of 0.91 suggests significant overlap in exposure. IQQU.DE charges 0.40%/yr vs 0.25%/yr for CEMT.DE.

Performance

IQQU.DE vs. CEMT.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares MSCI Europe ex-UK UCITS ETF (IQQU.DE) and iShares Edge MSCI Europe Size Factor UCITS ETF (CEMT.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

Over the past 10 years, IQQU.DE has outperformed CEMT.DE with an annualized return of 9.38%, while CEMT.DE has yielded a comparatively lower 6.44% annualized return.

IQQU.DE

• 1D: 0.78%
• 1M: 1.64%
• YTD: 7.54%
• 6M: 9.86%
• 1Y: 15.14%
• 3Y*: 13.15%
• 5Y*: 9.03%
• 10Y*: 9.38%

CEMT.DE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 3.97%
• 3Y*: 9.41%
• 5Y*: 4.08%
• 10Y*: 6.44%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IQQU.DE vs. CEMT.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IQQU.DE iShares MSCI Europe ex-UK UCITS ETF	7.54%	20.11%	6.36%	17.27%	-12.23%	24.46%	1.53%	28.71%	-11.38%	11.87%
CEMT.DE iShares Edge MSCI Europe Size Factor UCITS ETF	0.00%	17.53%	5.08%	14.19%	-18.24%	19.63%	1.61%	28.81%	-13.99%	13.62%

Correlation

The correlation between IQQU.DE and CEMT.DE is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 21, 2015	0.91

Over the past year, the correlation between IQQU.DE and CEMT.DE has dropped to 0.48 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.

Return for Risk

IQQU.DE vs. CEMT.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IQQU.DE

IQQU.DE Risk / Return Rank: 33
IQQU.DE Sharpe Ratio Rank: 32
IQQU.DE Sortino Ratio Rank: 33
IQQU.DE Omega Ratio Rank: 32
IQQU.DE Calmar Ratio Rank: 32
IQQU.DE Martin Ratio Rank: 37

CEMT.DE

CEMT.DE Risk / Return Rank: 26
CEMT.DE Sharpe Ratio Rank: 22
CEMT.DE Sortino Ratio Rank: 21
CEMT.DE Omega Ratio Rank: 32
CEMT.DE Calmar Ratio Rank: 24
CEMT.DE Martin Ratio Rank: 29

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IQQU.DE vs. CEMT.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe ex-UK UCITS ETF (IQQU.DE) and iShares Edge MSCI Europe Size Factor UCITS ETF (CEMT.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.

	IQQU.DE	CEMT.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.13	0.77	+0.36
Sortino ratio: Return per unit of downside risk	1.70	1.07	+0.63
Omega ratio: Gain probability vs. loss probability	1.21	1.21	0.00
Calmar ratio: Return relative to maximum drawdown	1.54	1.10	+0.44
Martin ratio: Return relative to average drawdown	5.62	4.03	+1.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IQQU.DE vs. CEMT.DE - Sharpe Ratio Comparison

The current IQQU.DE Sharpe Ratio is 1.13, which is higher than the CEMT.DE Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of IQQU.DE and CEMT.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IQQU.DE	CEMT.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.13	0.77	+0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.28	+0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.40	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.37	-0.09

Drawdowns

IQQU.DE vs. CEMT.DE - Drawdown Comparison

The maximum IQQU.DE drawdown since its inception was -59.97%, which is greater than CEMT.DE's maximum drawdown of -37.66%. Use the drawdown chart below to compare losses from any high point for IQQU.DE and CEMT.DE.

Drawdown Indicators

	IQQU.DE	CEMT.DE	Difference
Max Drawdown Largest peak-to-trough decline	-59.97%	-37.66%	-22.31%
Max Drawdown (1Y) Largest decline over 1 year	-9.97%	-4.26%	-5.71%
Max Drawdown (3Y) Largest decline over 3 years	-16.34%	-14.36%	-1.98%
Max Drawdown (5Y) Largest decline over 5 years	-22.54%	-29.23%	+6.69%
Max Drawdown (10Y) Largest decline over 10 years	-34.61%	-37.66%	+3.05%
Current Drawdown Current decline from peak	-1.21%	-0.39%	-0.82%
Average Drawdown Average peak-to-trough decline	-15.28%	-7.08%	-8.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	1.16%	+1.57%

Volatility

IQQU.DE vs. CEMT.DE - Volatility Comparison

iShares MSCI Europe ex-UK UCITS ETF (IQQU.DE) has a higher volatility of 4.32% compared to iShares Edge MSCI Europe Size Factor UCITS ETF (CEMT.DE) at 0.00%. This indicates that IQQU.DE's price experiences larger fluctuations and is considered to be riskier than CEMT.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IQQU.DE	CEMT.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.32%	0.00%	+4.32%
Volatility (6M) Calculated over the trailing 6-month period	11.04%	0.00%	+11.04%
Volatility (1Y) Calculated over the trailing 1-year period	13.59%	6.11%	+7.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.91%	14.61%	+0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.69%	16.11%	-0.42%

IQQU.DE vs. CEMT.DE - Expense Ratio Comparison

IQQU.DE has a 0.40% expense ratio, which is higher than CEMT.DE's 0.25% expense ratio.

Dividends

IQQU.DE vs. CEMT.DE - Dividend Comparison

IQQU.DE's dividend yield for the trailing twelve months is around 1.98%, while CEMT.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CEMT.DE iShares Edge MSCI Europe Size 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%
IQQU.DE iShares MSCI Europe ex-UK UCITS ETF	1.98%	2.16%	2.38%	2.36%	2.33%	1.62%	1.43%	2.31%	2.67%	2.26%	2.31%	2.14%

Frequently Asked Questions

Can I hold both IQQU.DE and CEMT.DE in my portfolio?

IQQU.DE and CEMT.DE have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IQQU.DE or CEMT.DE?

On fees, CEMT.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IQQU.DE or CEMT.DE?

CEMT.DE is cheaper with a 0.25% expense ratio, compared with 0.40% for IQQU.DE.

What is the main difference between IQQU.DE and CEMT.DE?

IQQU.DE tracks MSCI Europe ex UK, while CEMT.DE tracks MSCI Europe Mid Cap Equal Weighted. Their fees differ too: 0.40% for IQQU.DE and 0.25% for CEMT.DE.