VALD.DE vs. CEMT.DE

Last updated Jun 5, 2026

VALD.DE (BNP Paribas Easy ESG Value Europe UCITS ETF) and CEMT.DE (iShares Edge MSCI Europe Size Factor UCITS ETF) are both Europe Equities funds - VALD.DE tracks the BNP Paribas Value Europe ESG while CEMT.DE tracks the MSCI Europe Mid Cap Equal Weighted. Both are passively managed. Over the past 5 years, VALD.DE returned 7.81%/yr vs 4.08%/yr for CEMT.DE. Their correlation of 0.88 suggests significant overlap in exposure. VALD.DE charges 0.30%/yr vs 0.25%/yr for CEMT.DE.

Performance

VALD.DE vs. CEMT.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in BNP Paribas Easy ESG Value Europe UCITS ETF (VALD.DE) and iShares Edge MSCI Europe Size Factor UCITS ETF (CEMT.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

VALD.DE

• 1D: 0.88%
• 1M: 1.88%
• YTD: 10.40%
• 6M: 13.48%
• 1Y: 18.73%
• 3Y*: 16.67%
• 5Y*: 7.81%
• 10Y*: —

CEMT.DE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 4.36%
• 3Y*: 9.41%
• 5Y*: 4.08%
• 10Y*: 6.44%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VALD.DE vs. CEMT.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VALD.DE BNP Paribas Easy ESG Value Europe UCITS ETF	10.40%	23.55%	9.24%	14.99%	-19.44%	23.32%	-12.12%	17.75%	-12.42%	14.18%
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%	9.30%

Correlation

The correlation between VALD.DE and CEMT.DE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Feb 15, 2017	0.88

Over the past year, the correlation between VALD.DE and CEMT.DE has dropped to 0.49 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.

Return for Risk

VALD.DE vs. CEMT.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VALD.DE

VALD.DE Risk / Return Rank: 49
VALD.DE Sharpe Ratio Rank: 47
VALD.DE Sortino Ratio Rank: 47
VALD.DE Omega Ratio Rank: 48
VALD.DE Calmar Ratio Rank: 50
VALD.DE Martin Ratio Rank: 50

CEMT.DE

CEMT.DE Risk / Return Rank: 26
CEMT.DE Sharpe Ratio Rank: 22
CEMT.DE Sortino Ratio Rank: 21
CEMT.DE Omega Ratio Rank: 32
CEMT.DE Calmar Ratio Rank: 24
CEMT.DE Martin Ratio Rank: 29

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VALD.DE vs. CEMT.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy ESG Value Europe UCITS ETF (VALD.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.

	VALD.DE	CEMT.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.62	0.77	+0.85
Sortino ratio: Return per unit of downside risk	2.30	1.07	+1.24
Omega ratio: Gain probability vs. loss probability	1.30	1.21	+0.09
Calmar ratio: Return relative to maximum drawdown	2.47	1.10	+1.38
Martin ratio: Return relative to average drawdown	8.35	4.03	+4.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VALD.DE vs. CEMT.DE - Sharpe Ratio Comparison

The current VALD.DE Sharpe Ratio is 1.62, which is higher than the CEMT.DE Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of VALD.DE and CEMT.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VALD.DE	CEMT.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	0.77	+0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.28	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.37	+0.02

Drawdowns

VALD.DE vs. CEMT.DE - Drawdown Comparison

The maximum VALD.DE drawdown since its inception was -41.02%, 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 VALD.DE and CEMT.DE.

Drawdown Indicators

	VALD.DE	CEMT.DE	Difference
Max Drawdown Largest peak-to-trough decline	-41.02%	-37.66%	-3.36%
Max Drawdown (1Y) Largest decline over 1 year	-7.54%	-4.26%	-3.28%
Max Drawdown (3Y) Largest decline over 3 years	-14.17%	-14.36%	+0.19%
Max Drawdown (5Y) Largest decline over 5 years	-31.14%	-29.23%	-1.91%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.66%	—
Current Drawdown Current decline from peak	-0.96%	-0.39%	-0.57%
Average Drawdown Average peak-to-trough decline	-8.18%	-7.08%	-1.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	1.16%	+1.08%

Volatility

VALD.DE vs. CEMT.DE - Volatility Comparison

BNP Paribas Easy ESG Value Europe UCITS ETF (VALD.DE) has a higher volatility of 3.80% compared to iShares Edge MSCI Europe Size Factor UCITS ETF (CEMT.DE) at 0.00%. This indicates that VALD.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.

Volatility by Period

	VALD.DE	CEMT.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	0.00%	+3.80%
Volatility (6M) Calculated over the trailing 6-month period	9.29%	0.00%	+9.29%
Volatility (1Y) Calculated over the trailing 1-year period	11.54%	6.11%	+5.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.41%	14.61%	-0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.89%	16.11%	-0.22%

VALD.DE vs. CEMT.DE - Expense Ratio Comparison

VALD.DE has a 0.30% expense ratio, which is higher than CEMT.DE's 0.25% expense ratio.

Dividends

VALD.DE vs. CEMT.DE - Dividend Comparison

VALD.DE's dividend yield for the trailing twelve months is around 3.00%, while CEMT.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
VALD.DE BNP Paribas Easy ESG Value Europe UCITS ETF	3.00%	3.36%	3.35%	3.36%	3.99%	2.17%	5.02%	4.92%	4.84%

Frequently Asked Questions

Can I hold both VALD.DE and CEMT.DE in my portfolio?

VALD.DE and CEMT.DE have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VALD.DE or CEMT.DE?

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.

Which ETF is cheaper, VALD.DE or CEMT.DE?

CEMT.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for VALD.DE.

What is the main difference between VALD.DE and CEMT.DE?

VALD.DE tracks BNP Paribas Value Europe ESG, while CEMT.DE tracks MSCI Europe Mid Cap Equal Weighted. They also come from different issuers: BNP Paribas and iShares. Their fees differ too: 0.30% for VALD.DE and 0.25% for CEMT.DE.