SPYF.DE vs. CEMS.DE
SPYF.DE (SPDR FTSE UK All Share UCITS ETF) and CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) are both Europe Equities funds - SPYF.DE tracks the FTSE All-Share while CEMS.DE tracks the MSCI Europe Enhanced Value. Both are passively managed. Over the past 10 years, SPYF.DE returned 7.48%/yr vs 10.71%/yr for CEMS.DE. Their correlation of 0.87 suggests significant overlap in exposure. SPYF.DE charges 0.20%/yr vs 0.25%/yr for CEMS.DE.
Performance
SPYF.DE vs. CEMS.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPYF.DE achieves a 6.71% return, which is significantly lower than CEMS.DE's 13.72% return. Over the past 10 years, SPYF.DE has underperformed CEMS.DE with an annualized return of 7.48%, while CEMS.DE has yielded a comparatively higher 10.71% annualized return.
SPYF.DE
- 1D
- 0.16%
- 1M
- -0.06%
- YTD
- 6.71%
- 6M
- 9.71%
- 1Y
- 17.02%
- 3Y*
- 13.97%
- 5Y*
- 10.06%
- 10Y*
- 7.48%
CEMS.DE
- 1D
- 0.10%
- 1M
- 2.64%
- YTD
- 13.72%
- 6M
- 16.98%
- 1Y
- 32.08%
- 3Y*
- 21.63%
- 5Y*
- 14.47%
- 10Y*
- 10.71%
SPYF.DE vs. CEMS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYF.DE SPDR FTSE UK All Share UCITS ETF | 6.71% | 17.92% | 13.59% | 10.43% | -5.65% | 24.46% | -14.12% | 27.89% | -11.60% | 9.17% |
CEMS.DE iShares Edge MSCI Europe Value Factor UCITS ETF | 13.72% | 35.97% | 9.93% | 13.90% | -4.54% | 26.62% | -8.86% | 23.48% | -14.04% | 10.16% |
Correlation
The correlation between SPYF.DE and CEMS.DE is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2015 | 0.87 |
The correlation between SPYF.DE and CEMS.DE has been stable across timeframes, ranging from 0.78 to 0.87 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPYF.DE vs. CEMS.DE — Risk / Return Rank
SPYF.DE
CEMS.DE
SPYF.DE vs. CEMS.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR FTSE UK All Share UCITS ETF (SPYF.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.
| SPYF.DE | CEMS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.43 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 3.29 | -1.05 |
| Martin ratioReturn relative to average drawdown | 7.97 | 12.37 | -4.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SPYF.DE | CEMS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.43 | 2.37 | -0.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.94 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.61 | -0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.49 | -0.03 |
Drawdowns
SPYF.DE vs. CEMS.DE - Drawdown Comparison
The maximum SPYF.DE drawdown since its inception was -41.53%, roughly equal to the maximum CEMS.DE drawdown of -40.20%. Use the drawdown chart below to compare losses from any high point for SPYF.DE and CEMS.DE.
Loading charts...
Drawdown Indicators
| SPYF.DE | CEMS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.53% | -40.20% | -1.33% |
Max Drawdown (1Y)Largest decline over 1 year | -7.60% | -9.99% | +2.39% |
Max Drawdown (3Y)Largest decline over 3 years | -17.17% | -17.57% | +0.40% |
Max Drawdown (5Y)Largest decline over 5 years | -17.17% | -19.55% | +2.38% |
Max Drawdown (10Y)Largest decline over 10 years | -41.53% | -40.20% | -1.33% |
Current DrawdownCurrent decline from peak | -2.22% | -1.26% | -0.96% |
Average DrawdownAverage peak-to-trough decline | -6.06% | -7.49% | +1.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.14% | 2.66% | -0.52% |
Volatility
SPYF.DE vs. CEMS.DE - Volatility Comparison
The current volatility for SPDR FTSE UK All Share UCITS ETF (SPYF.DE) is 4.30%, while iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.DE) has a volatility of 4.65%. This indicates that SPYF.DE experiences smaller price fluctuations and is considered to be less risky than CEMS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPYF.DE | CEMS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.30% | 4.65% | -0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 10.01% | 11.17% | -1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.95% | 13.87% | -1.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.00% | 15.23% | -1.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.59% | 17.43% | -0.84% |
SPYF.DE vs. CEMS.DE - Expense Ratio Comparison
SPYF.DE has a 0.20% 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
SPYF.DE vs. CEMS.DE - Dividend Comparison
Neither SPYF.DE nor CEMS.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYF.DE and CEMS.DE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYF.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYF.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for CEMS.DE.
SPYF.DE tracks FTSE All-Share, while CEMS.DE tracks MSCI Europe Enhanced Value. They also come from different issuers: State Street and iShares. Their fees differ too: 0.20% for SPYF.DE and 0.25% for CEMS.DE.
Find the right allocation for SPYF.DE and CEMS.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer