ACU2.DE vs. ETLS.DE

Last updated Jun 26, 2026

ACU2.DE (Amundi PEA MSCI USA ESG Leaders UCITS ETF EUR) and ETLS.DE (L&G US Equity UCITS ETF) are both Large Cap Blend Equities funds - ACU2.DE tracks the MSCI USA ESG Leaders Select 5% Issuer Capped while ETLS.DE tracks the Solactive Core United States Large & Mid Cap. Both are passively managed. Over the past 5 years, ACU2.DE returned 12.27%/yr vs 13.60%/yr for ETLS.DE. With a 0.95 correlation, they move nearly in lockstep. ACU2.DE charges 0.35%/yr vs 0.05%/yr for ETLS.DE.

Performance

ACU2.DE vs. ETLS.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi PEA MSCI USA ESG Leaders UCITS ETF EUR (ACU2.DE) and L&G US Equity UCITS ETF (ETLS.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACU2.DE achieves a 13.99% return, which is significantly higher than ETLS.DE's 10.52% return.

ACU2.DE

• 1D: -0.38%
• 1M: 2.69%
• YTD: 13.99%
• 6M: 14.31%
• 1Y: 27.62%
• 3Y*: 17.17%
• 5Y*: 12.27%
• 10Y*: —

ETLS.DE

• 1D: -0.98%
• 1M: 0.27%
• YTD: 10.52%
• 6M: 10.85%
• 1Y: 24.33%
• 3Y*: 19.21%
• 5Y*: 13.60%
• 10Y*: —

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

ACU2.DE vs. ETLS.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ACU2.DE Amundi PEA MSCI USA ESG Leaders UCITS ETF EUR	13.99%	1.61%	26.66%	22.75%	-15.77%	38.66%	9.40%	28.69%
ETLS.DE L&G US Equity UCITS ETF	10.52%	5.06%	32.53%	24.18%	-15.96%	38.87%	10.14%	28.47%

Correlation

The correlation between ACU2.DE and ETLS.DE is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jan 16, 2019	0.95

The correlation between ACU2.DE and ETLS.DE has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.

Return for Risk

ACU2.DE vs. ETLS.DE — Risk / Return Rank

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

ACU2.DE

ACU2.DE Risk / Return Rank: 70
ACU2.DE Sharpe Ratio Rank: 75
ACU2.DE Sortino Ratio Rank: 75
ACU2.DE Omega Ratio Rank: 73
ACU2.DE Calmar Ratio Rank: 64
ACU2.DE Martin Ratio Rank: 61

ETLS.DE

ETLS.DE Risk / Return Rank: 71
ETLS.DE Sharpe Ratio Rank: 72
ETLS.DE Sortino Ratio Rank: 70
ETLS.DE Omega Ratio Rank: 72
ETLS.DE Calmar Ratio Rank: 72
ETLS.DE Martin Ratio Rank: 70

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.

ACU2.DE vs. ETLS.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi PEA MSCI USA ESG Leaders UCITS ETF EUR (ACU2.DE) and L&G US Equity UCITS ETF (ETLS.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.

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.

	ACU2.DE	ETLS.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.04	+0.07
Sortino ratio: Return per unit of downside risk	2.93	2.78	+0.14
Omega ratio: Gain probability vs. loss probability	1.38	1.37	0.00
Calmar ratio: Return relative to maximum drawdown	2.76	3.20	-0.44
Martin ratio: Return relative to average drawdown	9.59	11.26	-1.67

ACU2.DE vs. ETLS.DE - Sharpe Ratio Comparison

The current ACU2.DE Sharpe Ratio is 2.11, which is comparable to the ETLS.DE Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of ACU2.DE and ETLS.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ACU2.DE vs. ETLS.DE - Drawdown Comparison

The maximum ACU2.DE drawdown since its inception was -34.31%, roughly equal to the maximum ETLS.DE drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for ACU2.DE and ETLS.DE.

Drawdown Indicators

	ACU2.DE	ETLS.DE	Difference
Max Drawdown Largest peak-to-trough decline	-34.31%	-33.99%	-0.32%
Max Drawdown (1Y) Largest decline over 1 year	-9.95%	-7.57%	-2.38%
Max Drawdown (3Y) Largest decline over 3 years	-23.98%	-23.66%	-0.32%
Max Drawdown (5Y) Largest decline over 5 years	-23.98%	-23.66%	-0.32%
Current Drawdown Current decline from peak	-0.51%	-1.13%	+0.62%
Average Drawdown Average peak-to-trough decline	-4.79%	-4.63%	-0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	2.16%	+0.71%

Volatility

ACU2.DE vs. ETLS.DE - Volatility Comparison

Amundi PEA MSCI USA ESG Leaders UCITS ETF EUR (ACU2.DE) has a higher volatility of 3.72% compared to L&G US Equity UCITS ETF (ETLS.DE) at 3.44%. This indicates that ACU2.DE's price experiences larger fluctuations and is considered to be riskier than ETLS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACU2.DE	ETLS.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	3.44%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	9.39%	8.10%	+1.29%
Volatility (1Y) Calculated over the trailing 1-year period	13.03%	11.87%	+1.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.53%	15.50%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	17.23%	-0.31%

ACU2.DE vs. ETLS.DE - Expense Ratio Comparison

ACU2.DE has a 0.35% expense ratio, which is higher than ETLS.DE's 0.05% expense ratio.

Dividends

ACU2.DE vs. ETLS.DE - Dividend Comparison

Neither ACU2.DE nor ETLS.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ACU2.DE and ETLS.DE in my portfolio?

With a correlation of 0.92, ACU2.DE and ETLS.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.

Which ETF is better, ACU2.DE or ETLS.DE?

On fees, ETLS.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ACU2.DE or ETLS.DE?

ETLS.DE is cheaper with a 0.05% expense ratio, compared with 0.35% for ACU2.DE.

What is the main difference between ACU2.DE and ETLS.DE?

ACU2.DE tracks MSCI USA ESG Leaders Select 5% Issuer Capped, while ETLS.DE tracks Solactive Core United States Large & Mid Cap. They also come from different issuers: Amundi and Legal & General. Their fees differ too: 0.35% for ACU2.DE and 0.05% for ETLS.DE.