XB4A.DE vs. EMNE.DE
XB4A.DE (Xtrackers ATX UCITS ETF (Acc)) and EMNE.DE (iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist)) are both Europe Equities funds - XB4A.DE tracks the ATX Index while EMNE.DE tracks the MSCI EMU ESG Enhanced Focus CTB Index. Both are passively managed. Over the past 5 years, XB4A.DE returned 18.18%/yr vs 10.53%/yr for EMNE.DE. A 0.65 correlation means they provide meaningful diversification when combined. XB4A.DE charges 0.25%/yr vs 0.12%/yr for EMNE.DE.
Performance
XB4A.DE vs. EMNE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XB4A.DE achieves a 24.81% return, which is significantly higher than EMNE.DE's 10.66% return.
XB4A.DE
- 1D
- -0.62%
- 1M
- 1.14%
- 6M
- 22.10%
- YTD
- 24.81%
- 1Y
- 48.60%
- 3Y*
- 31.52%
- 5Y*
- 18.18%
- 10Y*
- 14.71%
EMNE.DE
- 1D
- -0.22%
- 1M
- -0.33%
- 6M
- 7.66%
- YTD
- 10.66%
- 1Y
- 20.09%
- 3Y*
- 15.22%
- 5Y*
- 10.53%
- 10Y*
- —
XB4A.DE vs. EMNE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XB4A.DE Xtrackers ATX UCITS ETF (Acc) | 24.81% | 51.29% | 11.01% | 14.27% | -16.45% | 42.39% | -10.86% | 10.69% |
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 10.66% | 22.18% | 9.86% | 18.79% | -12.35% | 22.75% | 1.44% | 16.09% |
Correlation
The correlation between XB4A.DE and EMNE.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 | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019 | 0.65 |
The correlation between XB4A.DE and EMNE.DE shifts across timeframes, from 0.65 (all time) to 0.78 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XB4A.DE vs. EMNE.DE — Risk / Return Rank
XB4A.DE
EMNE.DE
XB4A.DE vs. EMNE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers ATX UCITS ETF (Acc) (XB4A.DE) and iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| XB4A.DE | EMNE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.41 | ||
| Sortino ratioReturn per unit of downside risk | +1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.26 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 4.44 | 1.84 | +2.61 |
| Martin ratioReturn relative to average drawdown | 15.07 | 6.80 | +8.26 |
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Drawdowns
XB4A.DE vs. EMNE.DE - Drawdown Comparison
The maximum XB4A.DE drawdown since its inception was -53.54%, which is greater than EMNE.DE's maximum drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for XB4A.DE and EMNE.DE.
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Drawdown Indicators
| XB4A.DE | EMNE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.54% | -34.37% | -19.17% |
Max Drawdown (1Y)Largest decline over 1 year | -10.88% | -10.90% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -16.26% | -15.10% | -1.16% |
Max Drawdown (5Y)Largest decline over 5 years | -32.50% | -24.70% | -7.80% |
Max Drawdown (10Y)Largest decline over 10 years | -53.54% | — | — |
Current DrawdownCurrent decline from peak | -1.85% | -2.07% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -9.88% | -5.19% | -4.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.22% | 2.95% | +0.27% |
Volatility
XB4A.DE vs. EMNE.DE - Volatility Comparison
Xtrackers ATX UCITS ETF (Acc) (XB4A.DE) has a higher volatility of 5.22% compared to iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.DE) at 3.83%. This indicates that XB4A.DE's price experiences larger fluctuations and is considered to be riskier than EMNE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XB4A.DE | EMNE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.22% | 3.83% | +1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 14.88% | 12.73% | +2.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.61% | 14.96% | +2.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.15% | 16.28% | +2.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.15% | 19.99% | +0.16% |
XB4A.DE vs. EMNE.DE - Expense Ratio Comparison
XB4A.DE has a 0.25% expense ratio, which is higher than EMNE.DE's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XB4A.DE vs. EMNE.DE - Dividend Comparison
XB4A.DE has not paid dividends to shareholders, while EMNE.DE's dividend yield for the trailing twelve months is around 2.37%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 2.37% | 2.61% | 2.95% | 3.17% | 3.34% | 2.40% | 1.85% | 2.67% |
XB4A.DE Xtrackers ATX UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XB4A.DE and EMNE.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, EMNE.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMNE.DE is cheaper with a 0.12% expense ratio, compared with 0.25% for XB4A.DE.
XB4A.DE tracks ATX Index, while EMNE.DE tracks MSCI EMU ESG Enhanced Focus CTB Index. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.25% for XB4A.DE and 0.12% for EMNE.DE.
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