SPYR.DE vs. CEMG.DE
SPYR.DE (SPDR MSCI Europe Consumer Discretionary UCITS ETF) and CEMG.DE (iShares MSCI Emerging Markets Consumer Growth UCITS ETF USD (Acc)) are both Consumer Staples Equities funds - SPYR.DE tracks the MSCI Europe Consumer Discretionary 20/35 Capped while CEMG.DE tracks the Cat 50%MSCI Wld/CD NR&50%MSCI Wld/CS NR. Both are passively managed. Over the past 10 years, SPYR.DE returned 4.88%/yr vs 3.56%/yr for CEMG.DE. A 0.67 correlation means they provide meaningful diversification when combined. SPYR.DE charges 0.18%/yr vs 0.60%/yr for CEMG.DE.
Performance
SPYR.DE vs. CEMG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYR.DE achieves a -11.04% return, which is significantly lower than CEMG.DE's -7.03% return. Over the past 10 years, SPYR.DE has outperformed CEMG.DE with an annualized return of 4.88%, while CEMG.DE has yielded a comparatively lower 3.56% annualized return.
SPYR.DE
- 1D
- 0.63%
- 1M
- 7.05%
- YTD
- -11.04%
- 6M
- -10.59%
- 1Y
- -5.58%
- 3Y*
- -2.86%
- 5Y*
- -1.70%
- 10Y*
- 4.88%
CEMG.DE
- 1D
- -0.23%
- 1M
- -0.30%
- YTD
- -7.03%
- 6M
- -7.84%
- 1Y
- -8.22%
- 3Y*
- 3.00%
- 5Y*
- -2.27%
- 10Y*
- 3.56%
SPYR.DE vs. CEMG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYR.DE SPDR MSCI Europe Consumer Discretionary UCITS ETF | -11.04% | 2.47% | 3.29% | 15.35% | -15.95% | 21.86% | 5.93% | 35.34% | -15.45% | 10.29% |
CEMG.DE iShares MSCI Emerging Markets Consumer Growth UCITS ETF USD (Acc) | -7.03% | 0.86% | 16.93% | 1.69% | -16.08% | -1.07% | 11.30% | 25.51% | -16.68% | 23.33% |
Correlation
The correlation between SPYR.DE and CEMG.DE is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2014 | 0.67 |
The correlation between SPYR.DE and CEMG.DE has been stable across timeframes, ranging from 0.57 to 0.67 - a consistent structural relationship.
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Return for Risk
SPYR.DE vs. CEMG.DE — Risk / Return Rank
SPYR.DE
CEMG.DE
SPYR.DE vs. CEMG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Consumer Discretionary UCITS ETF (SPYR.DE) and iShares MSCI Emerging Markets Consumer Growth UCITS ETF USD (Acc) (CEMG.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.
| SPYR.DE | CEMG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.91 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | -0.58 | +0.31 |
| Martin ratioReturn relative to average drawdown | -0.64 | -1.23 | +0.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPYR.DE | CEMG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.29 | -0.64 | +0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | -0.12 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 0.19 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.22 | +0.07 |
Drawdowns
SPYR.DE vs. CEMG.DE - Drawdown Comparison
The maximum SPYR.DE drawdown since its inception was -41.59%, which is greater than CEMG.DE's maximum drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for SPYR.DE and CEMG.DE.
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Drawdown Indicators
| SPYR.DE | CEMG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.59% | -33.94% | -7.65% |
Max Drawdown (1Y)Largest decline over 1 year | -20.59% | -14.05% | -6.54% |
Max Drawdown (3Y)Largest decline over 3 years | -26.58% | -20.18% | -6.40% |
Max Drawdown (5Y)Largest decline over 5 years | -29.92% | -31.08% | +1.16% |
Max Drawdown (10Y)Largest decline over 10 years | -41.59% | -33.94% | -7.65% |
Current DrawdownCurrent decline from peak | -18.77% | -18.75% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -9.33% | -12.26% | +2.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.74% | 6.68% | +2.06% |
Volatility
SPYR.DE vs. CEMG.DE - Volatility Comparison
SPDR MSCI Europe Consumer Discretionary UCITS ETF (SPYR.DE) has a higher volatility of 5.71% compared to iShares MSCI Emerging Markets Consumer Growth UCITS ETF USD (Acc) (CEMG.DE) at 4.37%. This indicates that SPYR.DE's price experiences larger fluctuations and is considered to be riskier than CEMG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYR.DE | CEMG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.71% | 4.37% | +1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 15.42% | 10.24% | +5.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.29% | 12.88% | +6.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.07% | 18.54% | +2.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.80% | 18.33% | +2.47% |
SPYR.DE vs. CEMG.DE - Expense Ratio Comparison
SPYR.DE has a 0.18% expense ratio, which is lower than CEMG.DE's 0.60% expense ratio.
Dividends
SPYR.DE vs. CEMG.DE - Dividend Comparison
Neither SPYR.DE nor CEMG.DE has paid dividends to shareholders.
Frequently Asked Questions
SPYR.DE and CEMG.DE have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYR.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYR.DE is cheaper with a 0.18% expense ratio, compared with 0.60% for CEMG.DE.
SPYR.DE tracks MSCI Europe Consumer Discretionary 20/35 Capped, while CEMG.DE tracks Cat 50%MSCI Wld/CD NR&50%MSCI Wld/CS NR. They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for SPYR.DE and 0.60% for CEMG.DE.
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