XEON.DE vs. CEMU.AS
XEON.DE (Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C) and CEMU.AS (iShares Core MSCI EMU UCITS ETF EUR (Acc)) are both exchange-traded funds - XEON.DE is a Bank Loan fund tracking the Solactive €STR +8.5 Daily Index, while CEMU.AS is a Europe Equities fund tracking the MSCI EMU NR EUR. Both are passively managed. Over the past 10 years, XEON.DE returned 0.70%/yr vs 10.03%/yr for CEMU.AS. At a 0.02 correlation, their price movements are largely independent. XEON.DE charges 0.10%/yr vs 0.12%/yr for CEMU.AS.
Performance
XEON.DE vs. CEMU.AS - Performance Comparison
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Returns By Period
In the year-to-date period, XEON.DE achieves a 0.80% return, which is significantly lower than CEMU.AS's 8.68% return. Over the past 10 years, XEON.DE has underperformed CEMU.AS with an annualized return of 0.70%, while CEMU.AS has yielded a comparatively higher 10.03% annualized return.
XEON.DE
- 1D
- -0.01%
- 1M
- 0.10%
- YTD
- 0.80%
- 6M
- 0.91%
- 1Y
- 1.90%
- 3Y*
- 2.99%
- 5Y*
- 1.94%
- 10Y*
- 0.70%
CEMU.AS
- 1D
- 0.60%
- 1M
- 4.11%
- YTD
- 8.68%
- 6M
- 10.61%
- 1Y
- 18.65%
- 3Y*
- 16.12%
- 5Y*
- 10.62%
- 10Y*
- 10.03%
XEON.DE vs. CEMU.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XEON.DE Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C | 0.80% | 2.25% | 3.78% | 3.30% | -0.04% | -0.58% | -0.57% | -0.49% | -0.47% | -0.52% |
CEMU.AS iShares Core MSCI EMU UCITS ETF EUR (Acc) | 8.68% | 24.42% | 10.08% | 18.65% | -11.71% | 23.11% | -0.54% | 25.09% | -11.82% | 12.65% |
Correlation
The correlation between XEON.DE and CEMU.AS is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2014 | 0.02 |
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Return for Risk
XEON.DE vs. CEMU.AS — Risk / Return Rank
XEON.DE
CEMU.AS
XEON.DE vs. CEMU.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.DE) and iShares Core MSCI EMU UCITS ETF EUR (Acc) (CEMU.AS). 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.
| XEON.DE | CEMU.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.71 | ||
| Sortino ratioReturn per unit of downside risk | +19.38 | ||
| Omega ratioGain probability vs. loss probability | 4.27 | 1.23 | +3.04 |
| Calmar ratioReturn relative to maximum drawdown | 69.36 | 1.74 | +67.61 |
| Martin ratioReturn relative to average drawdown | 316.53 | 6.36 | +310.17 |
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Drawdowns
XEON.DE vs. CEMU.AS - Drawdown Comparison
The maximum XEON.DE drawdown since its inception was -3.71%, smaller than the maximum CEMU.AS drawdown of -38.38%. Use the drawdown chart below to compare losses from any high point for XEON.DE and CEMU.AS.
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Drawdown Indicators
| XEON.DE | CEMU.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.71% | -38.38% | +34.67% |
Max Drawdown (1Y)Largest decline over 1 year | -0.03% | -10.17% | +10.14% |
Max Drawdown (3Y)Largest decline over 3 years | -0.08% | -15.40% | +15.32% |
Max Drawdown (5Y)Largest decline over 5 years | -0.70% | -24.51% | +23.81% |
Max Drawdown (10Y)Largest decline over 10 years | -3.24% | -38.38% | +35.14% |
Current DrawdownCurrent decline from peak | -0.01% | -0.56% | +0.55% |
Average DrawdownAverage peak-to-trough decline | -0.92% | -6.24% | +5.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 2.79% | -2.78% |
Volatility
XEON.DE vs. CEMU.AS - Volatility Comparison
The current volatility for Xtrackers II EUR Overnight Rate Swap UCITS ETF 1C (XEON.DE) is 0.04%, while iShares Core MSCI EMU UCITS ETF EUR (Acc) (CEMU.AS) has a volatility of 4.60%. This indicates that XEON.DE experiences smaller price fluctuations and is considered to be less risky than CEMU.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XEON.DE | CEMU.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.04% | 4.60% | -4.56% |
Volatility (6M)Calculated over the trailing 6-month period | 0.16% | 11.95% | -11.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.22% | 14.49% | -14.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.25% | 16.16% | -15.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.39% | 17.08% | -16.69% |
XEON.DE vs. CEMU.AS - Expense Ratio Comparison
XEON.DE has a 0.10% expense ratio, which is lower than CEMU.AS's 0.12% 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
XEON.DE vs. CEMU.AS - Dividend Comparison
Neither XEON.DE nor CEMU.AS has paid dividends to shareholders.
Frequently Asked Questions
XEON.DE and CEMU.AS have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEON.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEON.DE is cheaper with a 0.10% expense ratio, compared with 0.12% for CEMU.AS.
XEON.DE is categorized as Bank Loan, while CEMU.AS is Europe Equities. XEON.DE tracks Solactive €STR +8.5 Daily Index, while CEMU.AS tracks MSCI EMU NR EUR. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.10% for XEON.DE and 0.12% for CEMU.AS.
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