540J.DE vs. ^GSPC

Last updated Apr 3, 2026

Compare and contrast key facts about Amundi MSCI Switzerland UCITS ETF EUR (540J.DE) and S&P 500 Index (^GSPC).

540J.DE is a passively managed fund by Amundi that tracks the performance of the MSCI Switzerland. It was launched on Mar 22, 2018.

Performance

540J.DE vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi MSCI Switzerland UCITS ETF EUR (540J.DE) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

540J.DE vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
540J.DE Amundi MSCI Switzerland UCITS ETF EUR	-0.34%	18.35%	3.72%	10.70%	-12.88%	29.27%	1.18%	35.15%	-4.77%	7.46%
^GSPC S&P 500 Index	-2.10%	2.58%	31.45%	20.51%	-14.45%	36.38%	6.68%	31.79%	-1.84%	4.74%

Different Trading Currencies

540J.DE is traded in EUR, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, 540J.DE achieves a -0.34% return, which is significantly higher than ^GSPC's -2.47% return. Over the past 10 years, 540J.DE has underperformed ^GSPC with an annualized return of 8.82%, while ^GSPC has yielded a comparatively higher 12.10% annualized return.

540J.DE

• 1D: -0.05%
• 1M: -3.79%
• YTD: -0.34%
• 6M: 6.99%
• 1Y: 10.13%
• 3Y*: 9.33%
• 5Y*: 8.18%
• 10Y*: 8.82%

^GSPC

• 1D: 0.00%
• 1M: -3.17%
• YTD: -2.47%
• 6M: -0.80%
• 1Y: 8.54%
• 3Y*: 14.53%
• 5Y*: 10.74%
• 10Y*: 12.10%

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

Return for Risk

540J.DE vs. ^GSPC — Risk / Return Rank

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

540J.DE

540J.DE Risk / Return Rank: 32
540J.DE Sharpe Ratio Rank: 33
540J.DE Sortino Ratio Rank: 30
540J.DE Omega Ratio Rank: 32
540J.DE Calmar Ratio Rank: 32
540J.DE Martin Ratio Rank: 34

^GSPC

^GSPC Risk / Return Rank: 58
^GSPC Sharpe Ratio Rank: 52
^GSPC Sortino Ratio Rank: 55
^GSPC Omega Ratio Rank: 59
^GSPC Calmar Ratio Rank: 52
^GSPC Martin Ratio Rank: 71

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.

540J.DE vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Switzerland UCITS ETF EUR (540J.DE) and S&P 500 Index (^GSPC). 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.

	540J.DE	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.67	0.41	+0.26
Sortino ratio Return per unit of downside risk	0.97	0.71	+0.26
Omega ratio Gain probability vs. loss probability	1.14	1.11	+0.03
Calmar ratio Return relative to maximum drawdown	1.05	0.62	+0.43
Martin ratio Return relative to average drawdown	3.98	2.56	+1.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

540J.DE vs. ^GSPC - Sharpe Ratio Comparison

The current 540J.DE Sharpe Ratio is 0.67, which is higher than the ^GSPC Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of 540J.DE and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	540J.DE	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.67	0.41	+0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.64	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.65	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.45	+0.17

Correlation

The correlation between 540J.DE and ^GSPC is 0.40, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

540J.DE vs. ^GSPC - Drawdown Comparison

The maximum 540J.DE drawdown since its inception was -25.99%, smaller than the maximum ^GSPC drawdown of -53.11%. Use the drawdown chart below to compare losses from any high point for 540J.DE and ^GSPC.

Drawdown Indicators

	540J.DE	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-25.99%	-56.78%	+30.79%
Max Drawdown (1Y) Largest decline over 1 year	-11.38%	-9.10%	-2.28%
Max Drawdown (5Y) Largest decline over 5 years	-17.64%	-25.43%	+7.79%
Max Drawdown (10Y) Largest decline over 10 years	-25.99%	-33.92%	+7.93%
Current Drawdown Current decline from peak	-7.46%	-5.67%	-1.79%
Average Drawdown Average peak-to-trough decline	-5.64%	-10.75%	+5.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	2.62%	+0.39%

Volatility

540J.DE vs. ^GSPC - Volatility Comparison

Amundi MSCI Switzerland UCITS ETF EUR (540J.DE) has a higher volatility of 5.38% compared to S&P 500 Index (^GSPC) at 4.36%. This indicates that 540J.DE's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	540J.DE	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	4.36%	+1.02%
Volatility (6M) Calculated over the trailing 6-month period	8.70%	9.93%	-1.23%
Volatility (1Y) Calculated over the trailing 1-year period	15.08%	20.68%	-5.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.23%	16.80%	-3.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.96%	18.63%	-4.67%