XEML vs. CA

Last updated Jul 17, 2026

XEML (Xtrackers Europe Market Leaders ETF) and CA (Xtrackers California Municipal Bond ETF) are both exchange-traded funds - XEML is a Europe Equities fund tracking the STOXX Europe Total Market Leaders Index, while CA is a Single State Muni fund tracking the ICE AMT-Free Broad Liquid California Municipal Index. Both are passively managed. At a 0.30 correlation, their price movements are largely independent. XEML charges 0.35%/yr vs 0.20%/yr for CA.

Performance

XEML vs. CA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Europe Market Leaders ETF (XEML) and Xtrackers California Municipal Bond ETF (CA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XEML achieves a 4.11% return, which is significantly higher than CA's 1.20% return.

XEML

• 1D: -0.02%
• 1M: -0.77%
• 6M: 2.07%
• YTD: 4.11%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CA

• 1D: 0.00%
• 1M: 0.00%
• 6M: 0.45%
• YTD: 1.20%
• 1Y: 6.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XEML vs. CA - Yearly Performance Comparison

	2026 (YTD)	2025
XEML Xtrackers Europe Market Leaders ETF	4.11%	-0.42%
CA Xtrackers California Municipal Bond ETF	1.20%	0.20%

Correlation

The correlation between XEML and CA is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 23, 2025	0.30

Return for Risk

XEML vs. CA — Risk / Return Rank

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

XEML

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

CA

CA Risk / Return Rank: 83
CA Sharpe Ratio Rank: 93
CA Sortino Ratio Rank: 94
CA Omega Ratio Rank: 96
CA Calmar Ratio Rank: 63
CA Martin Ratio Rank: 66

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.

XEML vs. CA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Europe Market Leaders ETF (XEML) and Xtrackers California Municipal Bond ETF (CA). 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.

	XEML	CA	Difference
Sharpe ratio: Return per unit of total volatility	—	2.69	—
Sortino ratio: Return per unit of downside risk	—	4.03	—
Omega ratio: Gain probability vs. loss probability	—	1.68	—
Calmar ratio: Return relative to maximum drawdown	—	2.52	—
Martin ratio: Return relative to average drawdown	—	9.32	—

Drawdowns

XEML vs. CA - Drawdown Comparison

The maximum XEML drawdown since its inception was -13.49%, which is greater than CA's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for XEML and CA.

Drawdown Indicators

	XEML	CA	Difference
Max Drawdown Largest peak-to-trough decline	-13.49%	-5.24%	-8.25%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.57%	—
Current Drawdown Current decline from peak	-4.40%	-0.75%	-3.65%
Average Drawdown Average peak-to-trough decline	-4.87%	-1.24%	-3.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.70%	—

Volatility

Volatility by Period

	XEML	CA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.78%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.08%	2.41%	+16.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.08%	3.89%	+15.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.08%	3.89%	+15.19%

XEML vs. CA - Expense Ratio Comparison

XEML has a 0.35% expense ratio, which is higher than CA's 0.20% expense ratio.

Dividends

XEML vs. CA - Dividend Comparison

XEML's dividend yield for the trailing twelve months is around 1.79%, less than CA's 2.69% yield.

Position	TTM	2025	2024
CA Xtrackers California Municipal Bond ETF	2.69%	3.14%	3.03%
XEML Xtrackers Europe Market Leaders ETF	1.79%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XEML and CA in my portfolio?

XEML and CA have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XEML or CA?

On fees, CA is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XEML or CA?

CA is cheaper with a 0.20% expense ratio, compared with 0.35% for XEML.

Which ETF pays a higher dividend yield, XEML or CA?

CA has the higher dividend yield at 2.69%, compared with 1.79% for XEML.

What is the main difference between XEML and CA?

XEML is categorized as Europe Equities, while CA is Single State Muni. XEML tracks STOXX Europe Total Market Leaders Index, while CA tracks ICE AMT-Free Broad Liquid California Municipal Index. Their fees differ too: 0.35% for XEML and 0.20% for CA.