XNZE.DE vs. XCEU.DE
XNZE.DE (Xtrackers EMU Net Zero Pathway Paris Aligned UCITS ETF 1C) and XCEU.DE (Xtrackers MSCI EMU Climate Transition 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, XNZE.DE returned 11.48%/yr vs 14.38%/yr for XCEU.DE. With a 0.95 correlation, they move nearly in lockstep. XNZE.DE charges 0.15%/yr vs 0.12%/yr for XCEU.DE.
Performance
XNZE.DE vs. XCEU.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XNZE.DE achieves a 9.92% return, which is significantly higher than XCEU.DE's 8.87% return.
XNZE.DE
- 1D
- 0.62%
- 1M
- 4.62%
- YTD
- 9.92%
- 6M
- 10.75%
- 1Y
- 14.11%
- 3Y*
- 11.48%
- 5Y*
- —
- 10Y*
- —
XCEU.DE
- 1D
- 0.24%
- 1M
- 2.46%
- YTD
- 8.87%
- 6M
- 10.63%
- 1Y
- 16.08%
- 3Y*
- 14.38%
- 5Y*
- —
- 10Y*
- —
XNZE.DE vs. XCEU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XNZE.DE Xtrackers EMU Net Zero Pathway Paris Aligned UCITS ETF 1C | 9.92% | 13.33% | 5.47% | 7.05% |
XCEU.DE Xtrackers MSCI EMU Climate Transition UCITS ETF 1C | 8.87% | 19.79% | 9.57% | 5.60% |
Correlation
The correlation between XNZE.DE and XCEU.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 XNZE.DE and XCEU.DE has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.
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Return for Risk
XNZE.DE vs. XCEU.DE — Risk / Return Rank
XNZE.DE
XCEU.DE
XNZE.DE vs. XCEU.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers EMU Net Zero Pathway Paris Aligned UCITS ETF 1C (XNZE.DE) and Xtrackers MSCI EMU Climate Transition UCITS ETF 1C (XCEU.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.
| XNZE.DE | XCEU.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 | 1.18 | 1.21 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | 1.51 | -0.26 |
| Martin ratioReturn relative to average drawdown | 4.26 | 5.43 | -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
| XNZE.DE | XCEU.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 1.09 | -0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.93 | -0.29 |
Drawdowns
XNZE.DE vs. XCEU.DE - Drawdown Comparison
The maximum XNZE.DE drawdown since its inception was -18.68%, which is greater than XCEU.DE's maximum drawdown of -14.98%. Use the drawdown chart below to compare losses from any high point for XNZE.DE and XCEU.DE.
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Drawdown Indicators
| XNZE.DE | XCEU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.68% | -14.98% | -3.70% |
Max Drawdown (1Y)Largest decline over 1 year | -11.49% | -10.79% | -0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -17.36% | -14.98% | -2.38% |
Current DrawdownCurrent decline from peak | -0.34% | -0.72% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -4.16% | -2.47% | -1.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.37% | 3.01% | +0.36% |
Volatility
XNZE.DE vs. XCEU.DE - Volatility Comparison
Xtrackers EMU Net Zero Pathway Paris Aligned UCITS ETF 1C (XNZE.DE) has a higher volatility of 5.15% compared to Xtrackers MSCI EMU Climate Transition UCITS ETF 1C (XCEU.DE) at 4.62%. This indicates that XNZE.DE's price experiences larger fluctuations and is considered to be riskier than XCEU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XNZE.DE | XCEU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.15% | 4.62% | +0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 12.62% | 12.25% | +0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.33% | 14.90% | +0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.84% | 14.44% | +2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.84% | 14.44% | +2.40% |
XNZE.DE vs. XCEU.DE - Expense Ratio Comparison
XNZE.DE has a 0.15% expense ratio, which is higher than XCEU.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
XNZE.DE vs. XCEU.DE - Dividend Comparison
Neither XNZE.DE nor XCEU.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, XNZE.DE and XCEU.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: 0.15% for XNZE.DE and 0.12% for XCEU.DE.
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