XCEU.DE vs. XNZE.DE
XCEU.DE (Xtrackers MSCI EMU Climate Transition UCITS ETF 1C) and XNZE.DE (Xtrackers EMU Net Zero Pathway Paris Aligned UCITS ETF 1C) are both Europe Equities funds from DWS tracking the MSCI EMU NR EUR. Both are passively managed. Over the past 3 years, XCEU.DE returned 14.38%/yr vs 11.48%/yr for XNZE.DE. With a 0.95 correlation, they move nearly in lockstep. XCEU.DE charges 0.12%/yr vs 0.15%/yr for XNZE.DE.
Performance
XCEU.DE vs. XNZE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XCEU.DE achieves a 8.87% return, which is significantly lower than XNZE.DE's 9.92% return.
XCEU.DE
- 1D
- 0.24%
- 1M
- 2.46%
- YTD
- 8.87%
- 6M
- 10.63%
- 1Y
- 16.08%
- 3Y*
- 14.38%
- 5Y*
- —
- 10Y*
- —
XNZE.DE
- 1D
- 0.62%
- 1M
- 4.62%
- YTD
- 9.92%
- 6M
- 10.75%
- 1Y
- 14.11%
- 3Y*
- 11.48%
- 5Y*
- —
- 10Y*
- —
XCEU.DE vs. XNZE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XCEU.DE Xtrackers MSCI EMU Climate Transition UCITS ETF 1C | 8.87% | 19.79% | 9.57% | 5.60% |
XNZE.DE Xtrackers EMU Net Zero Pathway Paris Aligned UCITS ETF 1C | 9.92% | 13.33% | 5.47% | 7.05% |
Correlation
The correlation between XCEU.DE and XNZE.DE is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2023 | 0.95 |
The correlation between XCEU.DE and XNZE.DE has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.
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Return for Risk
XCEU.DE vs. XNZE.DE — Risk / Return Rank
XCEU.DE
XNZE.DE
XCEU.DE vs. XNZE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EMU Climate Transition UCITS ETF 1C (XCEU.DE) and Xtrackers EMU Net Zero Pathway Paris Aligned UCITS ETF 1C (XNZE.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.
| XCEU.DE | XNZE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.18 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | 1.25 | +0.26 |
| Martin ratioReturn relative to average drawdown | 5.43 | 4.26 | +1.17 |
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
| XCEU.DE | XNZE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 0.94 | +0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.93 | 0.65 | +0.29 |
Drawdowns
XCEU.DE vs. XNZE.DE - Drawdown Comparison
The maximum XCEU.DE drawdown since its inception was -14.98%, smaller than the maximum XNZE.DE drawdown of -18.68%. Use the drawdown chart below to compare losses from any high point for XCEU.DE and XNZE.DE.
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Drawdown Indicators
| XCEU.DE | XNZE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.98% | -18.68% | +3.70% |
Max Drawdown (1Y)Largest decline over 1 year | -10.79% | -11.49% | +0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -14.98% | -17.36% | +2.38% |
Current DrawdownCurrent decline from peak | -0.72% | -0.34% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -2.47% | -4.16% | +1.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 3.37% | -0.36% |
Volatility
XCEU.DE vs. XNZE.DE - Volatility Comparison
The current volatility for Xtrackers MSCI EMU Climate Transition UCITS ETF 1C (XCEU.DE) is 4.62%, while Xtrackers EMU Net Zero Pathway Paris Aligned UCITS ETF 1C (XNZE.DE) has a volatility of 5.15%. This indicates that XCEU.DE experiences smaller price fluctuations and is considered to be less risky than XNZE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCEU.DE | XNZE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.62% | 5.15% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 12.25% | 12.62% | -0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.90% | 15.33% | -0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.44% | 16.84% | -2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.44% | 16.84% | -2.40% |
XCEU.DE vs. XNZE.DE - Expense Ratio Comparison
XCEU.DE has a 0.12% expense ratio, which is lower than XNZE.DE's 0.15% 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
XCEU.DE vs. XNZE.DE - Dividend Comparison
Neither XCEU.DE nor XNZE.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, XCEU.DE and XNZE.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, XCEU.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XCEU.DE is cheaper with a 0.12% expense ratio, compared with 0.15% for XNZE.DE.
Both ETFs track MSCI EMU NR EUR. Their fees differ too: 0.12% for XCEU.DE and 0.15% for XNZE.DE.
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