IUSQ.DE vs. CEMU.AS
IUSQ.DE (iShares MSCI ACWI UCITS ETF (Acc)) and CEMU.AS (iShares Core MSCI EMU UCITS ETF EUR (Acc)) are both exchange-traded funds - IUSQ.DE is a Global Equities fund tracking the MSCI All Country World (ACWI), while CEMU.AS is a Europe Equities fund tracking the MSCI EMU NR EUR. Both are passively managed. Over the past 10 years, IUSQ.DE returned 12.55%/yr vs 10.03%/yr for CEMU.AS. A 0.79 correlation means they provide meaningful diversification when combined. IUSQ.DE charges 0.20%/yr vs 0.12%/yr for CEMU.AS.
Performance
IUSQ.DE vs. CEMU.AS - Performance Comparison
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Returns By Period
In the year-to-date period, IUSQ.DE achieves a 11.73% return, which is significantly higher than CEMU.AS's 8.68% return. Over the past 10 years, IUSQ.DE has outperformed CEMU.AS with an annualized return of 12.55%, while CEMU.AS has yielded a comparatively lower 10.03% annualized return.
IUSQ.DE
- 1D
- 1.86%
- 1M
- 2.20%
- YTD
- 11.73%
- 6M
- 13.44%
- 1Y
- 25.86%
- 3Y*
- 17.12%
- 5Y*
- 12.02%
- 10Y*
- 12.55%
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%
IUSQ.DE vs. CEMU.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUSQ.DE iShares MSCI ACWI UCITS ETF (Acc) | 11.73% | 9.02% | 24.53% | 18.57% | -13.58% | 29.13% | 4.94% | 30.14% | -5.97% | 9.14% |
CEMU.AS iShares Core MSCI EMU UCITS ETF EUR (Acc) | 8.68% | 24.42% | 10.08% | 18.65% | -11.71% | 23.11% | -0.54% | 25.09% | -11.82% | 12.65% |
Correlation
The correlation between IUSQ.DE and CEMU.AS is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2014 | 0.79 |
The correlation between IUSQ.DE and CEMU.AS has been stable across timeframes, ranging from 0.70 to 0.79 - a consistent structural relationship.
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Return for Risk
IUSQ.DE vs. CEMU.AS — Risk / Return Rank
IUSQ.DE
CEMU.AS
IUSQ.DE vs. CEMU.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI UCITS ETF (Acc) (IUSQ.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.
| IUSQ.DE | CEMU.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.23 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.97 | 1.74 | +2.23 |
| Martin ratioReturn relative to average drawdown | 16.29 | 6.36 | +9.93 |
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Drawdowns
IUSQ.DE vs. CEMU.AS - Drawdown Comparison
The maximum IUSQ.DE drawdown since its inception was -33.60%, smaller than the maximum CEMU.AS drawdown of -38.38%. Use the drawdown chart below to compare losses from any high point for IUSQ.DE and CEMU.AS.
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Drawdown Indicators
| IUSQ.DE | CEMU.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.60% | -38.38% | +4.78% |
Max Drawdown (1Y)Largest decline over 1 year | -6.48% | -10.17% | +3.69% |
Max Drawdown (3Y)Largest decline over 3 years | -21.25% | -15.40% | -5.85% |
Max Drawdown (5Y)Largest decline over 5 years | -21.25% | -24.51% | +3.26% |
Max Drawdown (10Y)Largest decline over 10 years | -33.60% | -38.38% | +4.78% |
Current DrawdownCurrent decline from peak | -1.37% | -0.56% | -0.81% |
Average DrawdownAverage peak-to-trough decline | -4.18% | -6.24% | +2.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.58% | 2.79% | -1.21% |
Volatility
IUSQ.DE vs. CEMU.AS - Volatility Comparison
The current volatility for iShares MSCI ACWI UCITS ETF (Acc) (IUSQ.DE) is 3.41%, while iShares Core MSCI EMU UCITS ETF EUR (Acc) (CEMU.AS) has a volatility of 4.60%. This indicates that IUSQ.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
| IUSQ.DE | CEMU.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.41% | 4.60% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 8.53% | 11.95% | -3.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.69% | 14.49% | -2.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.97% | 16.16% | -2.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.03% | 17.08% | -2.05% |
IUSQ.DE vs. CEMU.AS - Expense Ratio Comparison
IUSQ.DE has a 0.20% 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
IUSQ.DE vs. CEMU.AS - Dividend Comparison
Neither IUSQ.DE nor CEMU.AS has paid dividends to shareholders.
Frequently Asked Questions
IUSQ.DE and CEMU.AS have a correlation of 0.74, 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 0.20% for IUSQ.DE.
IUSQ.DE is categorized as Global Equities, while CEMU.AS is Europe Equities. IUSQ.DE tracks MSCI All Country World (ACWI), while CEMU.AS tracks MSCI EMU NR EUR. Their fees differ too: 0.20% for IUSQ.DE and 0.12% for CEMU.AS.
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