540J.DE vs. AMES.DE
540J.DE (Amundi MSCI Switzerland UCITS ETF EUR) and AMES.DE (Amundi ETF MSCI Spain UCITS ETF EUR) are both Europe Equities funds from Amundi - 540J.DE tracks the MSCI Switzerland while AMES.DE tracks the MSCI Spain. Both are passively managed. Over the past 10 years, 540J.DE returned 8.74%/yr vs 11.05%/yr for AMES.DE. At a 0.47 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.
Performance
540J.DE vs. AMES.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 540J.DE achieves a 4.11% return, which is significantly lower than AMES.DE's 7.00% return. Over the past 10 years, 540J.DE has underperformed AMES.DE with an annualized return of 8.74%, while AMES.DE has yielded a comparatively higher 11.05% annualized return.
540J.DE
- 1D
- 1.16%
- 1M
- 0.54%
- YTD
- 4.11%
- 6M
- 7.57%
- 1Y
- 13.06%
- 3Y*
- 8.94%
- 5Y*
- 7.71%
- 10Y*
- 8.74%
AMES.DE
- 1D
- 0.51%
- 1M
- 1.18%
- YTD
- 7.00%
- 6M
- 11.24%
- 1Y
- 32.97%
- 3Y*
- 29.84%
- 5Y*
- 19.21%
- 10Y*
- 11.05%
540J.DE vs. AMES.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
540J.DE Amundi MSCI Switzerland UCITS ETF EUR | 4.11% | 18.35% | 3.72% | 10.70% | -12.88% | 29.27% | 1.18% | 35.15% | -4.77% | 7.46% |
AMES.DE Amundi ETF MSCI Spain UCITS ETF EUR | 7.00% | 55.41% | 19.00% | 25.94% | 0.03% | 6.96% | -12.87% | 15.76% | -12.77% | 11.84% |
Correlation
The correlation between 540J.DE and AMES.DE is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Dec 2, 2011 | 0.47 |
The correlation between 540J.DE and AMES.DE shifts across timeframes, from 0.45 (10 years) to 0.56 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
540J.DE vs. AMES.DE — Risk / Return Rank
540J.DE
AMES.DE
540J.DE vs. AMES.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Switzerland UCITS ETF EUR (540J.DE) and Amundi ETF MSCI Spain UCITS ETF EUR (AMES.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.
| 540J.DE | AMES.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.37 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 3.40 | -2.29 |
| Martin ratioReturn relative to average drawdown | 3.60 | 11.80 | -8.20 |
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
| 540J.DE | AMES.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 2.06 | -1.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | 1.20 | -0.64 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.62 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.48 | +0.16 |
Drawdowns
540J.DE vs. AMES.DE - Drawdown Comparison
The maximum 540J.DE drawdown since its inception was -25.99%, smaller than the maximum AMES.DE drawdown of -40.98%. Use the drawdown chart below to compare losses from any high point for 540J.DE and AMES.DE.
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Drawdown Indicators
| 540J.DE | AMES.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.99% | -40.98% | +14.99% |
Max Drawdown (1Y)Largest decline over 1 year | -11.38% | -9.95% | -1.43% |
Max Drawdown (3Y)Largest decline over 3 years | -15.76% | -12.58% | -3.18% |
Max Drawdown (5Y)Largest decline over 5 years | -17.64% | -17.77% | +0.13% |
Max Drawdown (10Y)Largest decline over 10 years | -25.99% | -40.98% | +14.99% |
Current DrawdownCurrent decline from peak | -3.33% | -0.52% | -2.81% |
Average DrawdownAverage peak-to-trough decline | -5.63% | -9.76% | +4.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.52% | 2.87% | +0.65% |
Volatility
540J.DE vs. AMES.DE - Volatility Comparison
The current volatility for Amundi MSCI Switzerland UCITS ETF EUR (540J.DE) is 4.33%, while Amundi ETF MSCI Spain UCITS ETF EUR (AMES.DE) has a volatility of 4.59%. This indicates that 540J.DE experiences smaller price fluctuations and is considered to be less risky than AMES.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 540J.DE | AMES.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.33% | 4.59% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 10.26% | 13.65% | -3.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.13% | 16.43% | -3.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.47% | 18.01% | -4.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.03% | 20.82% | -6.79% |
540J.DE vs. AMES.DE - Expense Ratio Comparison
Both 540J.DE and AMES.DE have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
540J.DE vs. AMES.DE - Dividend Comparison
Neither 540J.DE nor AMES.DE has paid dividends to shareholders.
Frequently Asked Questions
540J.DE and AMES.DE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
540J.DE and AMES.DE have the same expense ratio: 0.25% per year.
540J.DE tracks MSCI Switzerland, while AMES.DE tracks MSCI Spain.
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