OP2E.DE vs. CEMS.DE
OP2E.DE (Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR)) and CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) are both Europe Equities funds - OP2E.DE tracks the Bloomberg PAB Eurozone DM Large & Mid Cap while CEMS.DE tracks the MSCI Europe Enhanced Value. Both are passively managed. Over the past 3 years, OP2E.DE returned 11.48%/yr vs 21.63%/yr for CEMS.DE. Their correlation of 0.85 suggests significant overlap in exposure. OP2E.DE charges 0.17%/yr vs 0.25%/yr for CEMS.DE.
Performance
OP2E.DE vs. CEMS.DE - Performance Comparison
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Returns By Period
In the year-to-date period, OP2E.DE achieves a 6.95% return, which is significantly lower than CEMS.DE's 13.72% return.
OP2E.DE
- 1D
- 0.77%
- 1M
- 6.48%
- YTD
- 6.95%
- 6M
- 8.21%
- 1Y
- 12.90%
- 3Y*
- 11.48%
- 5Y*
- —
- 10Y*
- —
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%
OP2E.DE vs. CEMS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OP2E.DE Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) | 6.95% | 15.46% | 7.37% | 19.25% | 0.85% |
CEMS.DE iShares Edge MSCI Europe Value Factor UCITS ETF | 13.72% | 35.97% | 9.93% | 13.90% | 1.04% |
Correlation
The correlation between OP2E.DE and CEMS.DE is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2022 | 0.85 |
The correlation between OP2E.DE and CEMS.DE has been stable across timeframes, ranging from 0.84 to 0.86 - a consistent structural relationship.
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Return for Risk
OP2E.DE vs. CEMS.DE — Risk / Return Rank
OP2E.DE
CEMS.DE
OP2E.DE vs. CEMS.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) (OP2E.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.
| OP2E.DE | CEMS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.51 | ||
| Sortino ratioReturn per unit of downside risk | -1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.43 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 3.29 | -2.21 |
| Martin ratioReturn relative to average drawdown | 3.64 | 12.37 | -8.72 |
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
| OP2E.DE | CEMS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 2.37 | -1.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.94 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.61 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.49 | +0.37 |
Drawdowns
OP2E.DE vs. CEMS.DE - Drawdown Comparison
The maximum OP2E.DE drawdown since its inception was -16.56%, smaller than the maximum CEMS.DE drawdown of -40.20%. Use the drawdown chart below to compare losses from any high point for OP2E.DE and CEMS.DE.
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Drawdown Indicators
| OP2E.DE | CEMS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.56% | -40.20% | +23.64% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -9.99% | -1.93% |
Max Drawdown (3Y)Largest decline over 3 years | -16.56% | -17.57% | +1.01% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.55% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.20% | — |
Current DrawdownCurrent decline from peak | -0.25% | -1.26% | +1.01% |
Average DrawdownAverage peak-to-trough decline | -2.85% | -7.49% | +4.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 2.66% | +0.87% |
Volatility
OP2E.DE vs. CEMS.DE - Volatility Comparison
Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) (OP2E.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 OP2E.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
| OP2E.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 | 12.42% | 11.17% | +1.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.98% | 13.87% | +1.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.18% | 15.23% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.18% | 17.43% | -2.25% |
OP2E.DE vs. CEMS.DE - Expense Ratio Comparison
OP2E.DE has a 0.17% expense ratio, which is lower than CEMS.DE's 0.25% 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
OP2E.DE vs. CEMS.DE - Dividend Comparison
Neither OP2E.DE nor CEMS.DE has paid dividends to shareholders.
Frequently Asked Questions
OP2E.DE and CEMS.DE have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, OP2E.DE is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
OP2E.DE is cheaper with a 0.17% expense ratio, compared with 0.25% for CEMS.DE.
OP2E.DE tracks Bloomberg PAB Eurozone DM Large & Mid Cap, while CEMS.DE tracks MSCI Europe Enhanced Value. They also come from different issuers: Natixis and iShares. Their fees differ too: 0.17% for OP2E.DE and 0.25% for CEMS.DE.
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