AEMD.DE vs. EUNZ.DE
AEMD.DE (Amundi Index MSCI Emerging Markets UCITS ETF DR EUR (D)) and EUNZ.DE (iShares Edge MSCI EM Minimum Volatility UCITS ETF) are both Emerging Markets Equities funds - AEMD.DE tracks the MSCI EM NR USD while EUNZ.DE tracks the MSCI Emerging Markets Minimum Volatility. Both are passively managed. Over the past 5 years, AEMD.DE returned 8.34%/yr vs 6.48%/yr for EUNZ.DE. Their correlation of 0.88 suggests significant overlap in exposure. AEMD.DE charges 0.20%/yr vs 0.40%/yr for EUNZ.DE.
Performance
AEMD.DE vs. EUNZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AEMD.DE achieves a 27.93% return, which is significantly higher than EUNZ.DE's 18.69% return.
AEMD.DE
- 1D
- -1.54%
- 1M
- 4.20%
- YTD
- 27.93%
- 6M
- 28.15%
- 1Y
- 49.42%
- 3Y*
- 20.72%
- 5Y*
- 8.34%
- 10Y*
- —
EUNZ.DE
- 1D
- -1.19%
- 1M
- 3.85%
- YTD
- 18.69%
- 6M
- 17.92%
- 1Y
- 22.13%
- 3Y*
- 11.07%
- 5Y*
- 6.48%
- 10Y*
- 6.20%
AEMD.DE vs. EUNZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
AEMD.DE Amundi Index MSCI Emerging Markets UCITS ETF DR EUR (D) | 27.93% | 19.91% | 13.00% | 4.88% | -14.15% | 4.10% | 6.56% | 21.56% | -13.37% |
EUNZ.DE iShares Edge MSCI EM Minimum Volatility UCITS ETF | 18.69% | -0.15% | 15.73% | 3.85% | -8.85% | 13.05% | -2.49% | 10.59% | -2.28% |
Correlation
The correlation between AEMD.DE and EUNZ.DE is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2018 | 0.88 |
The correlation between AEMD.DE and EUNZ.DE has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.
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Return for Risk
AEMD.DE vs. EUNZ.DE — Risk / Return Rank
AEMD.DE
EUNZ.DE
AEMD.DE vs. EUNZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Index MSCI Emerging Markets UCITS ETF DR EUR (D) (AEMD.DE) and iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.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.
| AEMD.DE | EUNZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.35 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 4.56 | 3.00 | +1.56 |
| Martin ratioReturn relative to average drawdown | 16.70 | 10.57 | +6.13 |
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
| AEMD.DE | EUNZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.82 | 1.85 | +0.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.56 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.46 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.35 | +0.04 |
Drawdowns
AEMD.DE vs. EUNZ.DE - Drawdown Comparison
The maximum AEMD.DE drawdown since its inception was -31.80%, roughly equal to the maximum EUNZ.DE drawdown of -30.47%. Use the drawdown chart below to compare losses from any high point for AEMD.DE and EUNZ.DE.
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Drawdown Indicators
| AEMD.DE | EUNZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.80% | -30.47% | -1.33% |
Max Drawdown (1Y)Largest decline over 1 year | -11.01% | -7.50% | -3.51% |
Max Drawdown (3Y)Largest decline over 3 years | -18.92% | -14.00% | -4.92% |
Max Drawdown (5Y)Largest decline over 5 years | -23.88% | -14.00% | -9.88% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.15% | — |
Current DrawdownCurrent decline from peak | -2.57% | -1.96% | -0.61% |
Average DrawdownAverage peak-to-trough decline | -9.65% | -7.62% | -2.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 2.13% | +0.88% |
Volatility
AEMD.DE vs. EUNZ.DE - Volatility Comparison
Amundi Index MSCI Emerging Markets UCITS ETF DR EUR (D) (AEMD.DE) has a higher volatility of 7.37% compared to iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE) at 4.75%. This indicates that AEMD.DE's price experiences larger fluctuations and is considered to be riskier than EUNZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AEMD.DE | EUNZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.37% | 4.75% | +2.62% |
Volatility (6M)Calculated over the trailing 6-month period | 15.13% | 10.35% | +4.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.83% | 12.18% | +5.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.75% | 11.41% | +5.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.92% | 13.32% | +5.60% |
AEMD.DE vs. EUNZ.DE - Expense Ratio Comparison
AEMD.DE has a 0.20% expense ratio, which is lower than EUNZ.DE's 0.40% expense ratio.
Dividends
AEMD.DE vs. EUNZ.DE - Dividend Comparison
AEMD.DE's dividend yield for the trailing twelve months is around 1.51%, while EUNZ.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AEMD.DE Amundi Index MSCI Emerging Markets UCITS ETF DR EUR (D) | 1.51% | 1.93% | 2.33% | 2.51% | 3.20% | 2.23% | 1.69% | 2.32% | 2.14% |
EUNZ.DE iShares Edge MSCI EM Minimum Volatility UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AEMD.DE and EUNZ.DE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AEMD.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AEMD.DE is cheaper with a 0.20% expense ratio, compared with 0.40% for EUNZ.DE.
AEMD.DE tracks MSCI EM NR USD, while EUNZ.DE tracks MSCI Emerging Markets Minimum Volatility. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.20% for AEMD.DE and 0.40% for EUNZ.DE.
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