XDWC.L vs. CDCE.L

Last updated Jun 5, 2026

XDWC.L (Xtrackers MSCI World Consumer Discretionary UCITS ETF 1C) and CDCE.L (SPDR MSCI Europe Consumer Discretionary UCITS ETF) are both Consumer Discretionary Equities funds tracking the Cat 50%MSCI Wld/CD NR&50%MSCI Wld/CS NR, from Xtrackers and State Street respectively. Both are passively managed. Over the past 3 years, XDWC.L returned 12.88%/yr vs -0.32%/yr for CDCE.L. A 0.68 correlation means they provide meaningful diversification when combined. XDWC.L charges 0.25%/yr vs 0.18%/yr for CDCE.L.

Performance

XDWC.L vs. CDCE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI World Consumer Discretionary UCITS ETF 1C (XDWC.L) and SPDR MSCI Europe Consumer Discretionary UCITS ETF (CDCE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XDWC.L is traded in USD, while CDCE.L is traded in GBP. To make them comparable, the CDCE.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XDWC.L achieves a -2.34% return, which is significantly higher than CDCE.L's -12.13% return.

XDWC.L

• 1D: 0.79%
• 1M: -0.23%
• YTD: -2.34%
• 6M: -1.21%
• 1Y: 8.42%
• 3Y*: 12.88%
• 5Y*: 4.85%
• 10Y*: 11.05%

CDCE.L

• 1D: 0.55%
• 1M: 6.31%
• YTD: -12.13%
• 6M: -10.94%
• 1Y: -4.17%
• 3Y*: -0.32%
• 5Y*: —
• 10Y*: —

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

XDWC.L vs. CDCE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XDWC.L Xtrackers MSCI World Consumer Discretionary UCITS ETF 1C	-2.34%	7.36%	22.22%	35.93%	-21.56%
CDCE.L SPDR MSCI Europe Consumer Discretionary UCITS ETF	-12.13%	15.48%	-2.86%	19.00%	2.08%

Correlation

The correlation between XDWC.L and CDCE.L is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (All Time) Calculated using the full available price history since Apr 25, 2022	0.68

The correlation between XDWC.L and CDCE.L has been stable across timeframes, ranging from 0.66 to 0.68 - a consistent structural relationship.

Return for Risk

XDWC.L vs. CDCE.L — Risk / Return Rank

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

XDWC.L

XDWC.L Risk / Return Rank: 17
XDWC.L Sharpe Ratio Rank: 17
XDWC.L Sortino Ratio Rank: 17
XDWC.L Omega Ratio Rank: 16
XDWC.L Calmar Ratio Rank: 15
XDWC.L Martin Ratio Rank: 17

CDCE.L

CDCE.L Risk / Return Rank: 7
CDCE.L Sharpe Ratio Rank: 7
CDCE.L Sortino Ratio Rank: 7
CDCE.L Omega Ratio Rank: 7
CDCE.L Calmar Ratio Rank: 8
CDCE.L Martin Ratio Rank: 8

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.

XDWC.L vs. CDCE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI World Consumer Discretionary UCITS ETF 1C (XDWC.L) and SPDR MSCI Europe Consumer Discretionary UCITS ETF (CDCE.L). 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.

	XDWC.L	CDCE.L	Difference
Sharpe ratio: Return per unit of total volatility	0.48	-0.20	+0.68
Sortino ratio: Return per unit of downside risk	0.82	-0.14	+0.96
Omega ratio: Gain probability vs. loss probability	1.09	0.98	+0.11
Calmar ratio: Return relative to maximum drawdown	0.52	-0.20	+0.72
Martin ratio: Return relative to average drawdown	1.57	-0.48	+2.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDWC.L vs. CDCE.L - Sharpe Ratio Comparison

The current XDWC.L Sharpe Ratio is 0.48, which is higher than the CDCE.L Sharpe Ratio of -0.20. The chart below compares the historical Sharpe Ratios of XDWC.L and CDCE.L, 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

	XDWC.L	CDCE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.48	-0.20	+0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.19	+0.38

Drawdowns

XDWC.L vs. CDCE.L - Drawdown Comparison

The maximum XDWC.L drawdown since its inception was -37.26%, which is greater than CDCE.L's maximum drawdown of -22.26%. Use the drawdown chart below to compare losses from any high point for XDWC.L and CDCE.L.

Drawdown Indicators

	XDWC.L	CDCE.L	Difference
Max Drawdown Largest peak-to-trough decline	-37.26%	-22.26%	-15.00%
Max Drawdown (1Y) Largest decline over 1 year	-16.08%	-21.19%	+5.11%
Max Drawdown (3Y) Largest decline over 3 years	-23.36%	-22.26%	-1.10%
Max Drawdown (5Y) Largest decline over 5 years	-37.26%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.26%	—	—
Current Drawdown Current decline from peak	-5.67%	-12.54%	+6.87%
Average Drawdown Average peak-to-trough decline	-8.31%	-7.75%	-0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.34%	8.58%	-3.24%

Volatility

XDWC.L vs. CDCE.L - Volatility Comparison

The current volatility for Xtrackers MSCI World Consumer Discretionary UCITS ETF 1C (XDWC.L) is 5.79%, while SPDR MSCI Europe Consumer Discretionary UCITS ETF (CDCE.L) has a volatility of 7.23%. This indicates that XDWC.L experiences smaller price fluctuations and is considered to be less risky than CDCE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDWC.L	CDCE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	7.23%	-1.44%
Volatility (6M) Calculated over the trailing 6-month period	13.82%	16.53%	-2.71%
Volatility (1Y) Calculated over the trailing 1-year period	17.58%	20.99%	-3.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.06%	23.40%	-2.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.68%	23.40%	-3.72%

XDWC.L vs. CDCE.L - Expense Ratio Comparison

XDWC.L has a 0.25% expense ratio, which is higher than CDCE.L's 0.18% 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

XDWC.L vs. CDCE.L - Dividend Comparison

Neither XDWC.L nor CDCE.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XDWC.L and CDCE.L in my portfolio?

XDWC.L and CDCE.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XDWC.L or CDCE.L?

On fees, CDCE.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XDWC.L or CDCE.L?

CDCE.L is cheaper with a 0.18% expense ratio, compared with 0.25% for XDWC.L.

What is the main difference between XDWC.L and CDCE.L?

Both ETFs track Cat 50%MSCI Wld/CD NR&50%MSCI Wld/CS NR. They also come from different issuers: Xtrackers and State Street. Their fees differ too: 0.25% for XDWC.L and 0.18% for CDCE.L.