SPYG.DE vs. CEMT.DE
SPYG.DE (SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist)) and CEMT.DE (iShares Edge MSCI Europe Size Factor UCITS ETF) are both Europe Equities funds - SPYG.DE tracks the S&P UK High Yield Dividend Aristocrats while CEMT.DE tracks the MSCI Europe Mid Cap Equal Weighted. Both are passively managed. Over the past 10 years, SPYG.DE returned 3.61%/yr vs 6.44%/yr for CEMT.DE. Their correlation of 0.82 suggests significant overlap in exposure. SPYG.DE charges 0.30%/yr vs 0.25%/yr for CEMT.DE.
Performance
SPYG.DE vs. CEMT.DE - Performance Comparison
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Returns By Period
Over the past 10 years, SPYG.DE has underperformed CEMT.DE with an annualized return of 3.61%, while CEMT.DE has yielded a comparatively higher 6.44% annualized return.
SPYG.DE
- 1D
- 1.41%
- 1M
- 0.66%
- YTD
- 5.85%
- 6M
- 8.49%
- 1Y
- 11.94%
- 3Y*
- 11.53%
- 5Y*
- 6.76%
- 10Y*
- 3.61%
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%
SPYG.DE vs. CEMT.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYG.DE SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist) | 5.85% | 12.61% | 14.64% | 8.08% | -13.77% | 20.96% | -20.77% | 41.80% | -15.19% | -0.54% |
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 SPYG.DE and CEMT.DE is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2015 | 0.82 |
Over the past year, the correlation between SPYG.DE and CEMT.DE has dropped to 0.41 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.
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Return for Risk
SPYG.DE vs. CEMT.DE — Risk / Return Rank
SPYG.DE
CEMT.DE
SPYG.DE vs. CEMT.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist) (SPYG.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.
| SPYG.DE | CEMT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.21 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.42 | 1.10 | +0.32 |
| Martin ratioReturn relative to average drawdown | 4.53 | 4.03 | +0.50 |
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
| SPYG.DE | CEMT.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 0.77 | +0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.28 | +0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.20 | 0.40 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.37 | -0.09 |
Drawdowns
SPYG.DE vs. CEMT.DE - Drawdown Comparison
The maximum SPYG.DE drawdown since its inception was -44.67%, 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 SPYG.DE and CEMT.DE.
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Drawdown Indicators
| SPYG.DE | CEMT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.67% | -37.66% | -7.01% |
Max Drawdown (1Y)Largest decline over 1 year | -8.78% | -4.26% | -4.52% |
Max Drawdown (3Y)Largest decline over 3 years | -16.46% | -14.36% | -2.10% |
Max Drawdown (5Y)Largest decline over 5 years | -21.83% | -29.23% | +7.40% |
Max Drawdown (10Y)Largest decline over 10 years | -44.67% | -37.66% | -7.01% |
Current DrawdownCurrent decline from peak | -1.89% | -0.39% | -1.50% |
Average DrawdownAverage peak-to-trough decline | -11.38% | -7.08% | -4.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 1.16% | +1.59% |
Volatility
SPYG.DE vs. CEMT.DE - Volatility Comparison
SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist) (SPYG.DE) has a higher volatility of 4.98% compared to iShares Edge MSCI Europe Size Factor UCITS ETF (CEMT.DE) at 0.00%. This indicates that SPYG.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.
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Volatility by Period
| SPYG.DE | CEMT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.98% | 0.00% | +4.98% |
Volatility (6M)Calculated over the trailing 6-month period | 10.50% | 0.00% | +10.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.11% | 6.11% | +7.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.15% | 14.61% | +0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.94% | 16.11% | +1.83% |
SPYG.DE vs. CEMT.DE - Expense Ratio Comparison
SPYG.DE has a 0.30% expense ratio, which is higher than CEMT.DE's 0.25% expense ratio.
Dividends
SPYG.DE vs. CEMT.DE - Dividend Comparison
SPYG.DE's dividend yield for the trailing twelve months is around 3.44%, 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% |
SPYG.DE SPDR S&P UK Dividend Aristocrats UCITS ETF (Dist) | 3.44% | 3.68% | 3.39% | 3.66% | 4.67% | 3.53% | 3.12% | 3.92% | 7.36% | 3.83% | 4.39% | 4.04% |
Frequently Asked Questions
SPYG.DE and CEMT.DE have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
CEMT.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for SPYG.DE.
SPYG.DE tracks S&P UK High Yield Dividend Aristocrats, while CEMT.DE tracks MSCI Europe Mid Cap Equal Weighted. They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for SPYG.DE and 0.25% for CEMT.DE.
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