XNZN.DE vs. CEMT.DE
XNZN.DE (Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1C) and CEMT.DE (iShares Edge MSCI Europe Size Factor UCITS ETF) are both Europe Equities funds - XNZN.DE tracks the MSCI Nordic Countries NR EUR while CEMT.DE tracks the MSCI Europe Mid Cap Equal Weighted. Both are passively managed. Over the past 3 years, XNZN.DE returned 5.54%/yr vs 9.41%/yr for CEMT.DE. A 0.72 correlation means they provide meaningful diversification when combined. XNZN.DE charges 0.15%/yr vs 0.25%/yr for CEMT.DE.
Performance
XNZN.DE vs. CEMT.DE - Performance Comparison
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Returns By Period
XNZN.DE
- 1D
- 0.80%
- 1M
- -0.39%
- YTD
- 0.62%
- 6M
- 2.71%
- 1Y
- 1.15%
- 3Y*
- 5.54%
- 5Y*
- —
- 10Y*
- —
CEMT.DE
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 3.97%
- 3Y*
- 9.41%
- 5Y*
- 4.08%
- 10Y*
- 6.44%
XNZN.DE vs. CEMT.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XNZN.DE Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1C | 0.62% | 1.04% | 3.46% | 12.19% |
CEMT.DE iShares Edge MSCI Europe Size Factor UCITS ETF | 0.00% | 17.53% | 5.08% | 5.77% |
Correlation
The correlation between XNZN.DE and CEMT.DE is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2023 | 0.72 |
Over the past year, the correlation between XNZN.DE and CEMT.DE has dropped to 0.46 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.
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Return for Risk
XNZN.DE vs. CEMT.DE — Risk / Return Rank
XNZN.DE
CEMT.DE
XNZN.DE vs. CEMT.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1C (XNZN.DE) and iShares Edge MSCI Europe Size Factor UCITS ETF (CEMT.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.
| XNZN.DE | CEMT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.21 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | 1.10 | -0.99 |
| Martin ratioReturn relative to average drawdown | 0.29 | 4.03 | -3.75 |
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
| XNZN.DE | CEMT.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.09 | 0.77 | -0.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.28 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.40 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.37 | -0.04 |
Drawdowns
XNZN.DE vs. CEMT.DE - Drawdown Comparison
The maximum XNZN.DE drawdown since its inception was -23.90%, smaller than the maximum CEMT.DE drawdown of -37.66%. Use the drawdown chart below to compare losses from any high point for XNZN.DE and CEMT.DE.
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Drawdown Indicators
| XNZN.DE | CEMT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.90% | -37.66% | +13.76% |
Max Drawdown (1Y)Largest decline over 1 year | -13.08% | -4.26% | -8.82% |
Max Drawdown (3Y)Largest decline over 3 years | -23.90% | -14.36% | -9.54% |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.66% | — |
Current DrawdownCurrent decline from peak | -9.13% | -0.39% | -8.74% |
Average DrawdownAverage peak-to-trough decline | -7.13% | -7.08% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.84% | 1.16% | +3.68% |
Volatility
XNZN.DE vs. CEMT.DE - Volatility Comparison
Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1C (XNZN.DE) has a higher volatility of 4.52% compared to iShares Edge MSCI Europe Size Factor UCITS ETF (CEMT.DE) at 0.00%. This indicates that XNZN.DE's price experiences larger fluctuations and is considered to be riskier than CEMT.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XNZN.DE | CEMT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.52% | 0.00% | +4.52% |
Volatility (6M)Calculated over the trailing 6-month period | 12.12% | 0.00% | +12.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.38% | 6.11% | +9.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.12% | 14.61% | +1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.12% | 16.11% | +0.01% |
XNZN.DE vs. CEMT.DE - Expense Ratio Comparison
XNZN.DE has a 0.15% expense ratio, which is lower than CEMT.DE's 0.25% 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
XNZN.DE vs. CEMT.DE - Dividend Comparison
Neither XNZN.DE nor CEMT.DE has paid dividends to shareholders.
Frequently Asked Questions
XNZN.DE and CEMT.DE have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XNZN.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XNZN.DE is cheaper with a 0.15% expense ratio, compared with 0.25% for CEMT.DE.
XNZN.DE tracks MSCI Nordic Countries NR EUR, while CEMT.DE tracks MSCI Europe Mid Cap Equal Weighted. They also come from different issuers: DWS and iShares. Their fees differ too: 0.15% for XNZN.DE and 0.25% for CEMT.DE.
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