AEME.L vs. E127.L

Last updated Jun 5, 2026

AEME.L (Amundi Index MSCI Emerging Markets UCITS ETF DR (C)) and E127.L (Amundi MSCI Emerging Markets II UCITS ETF Dist) are both Emerging Markets Equities funds from Amundi tracking the MSCI EM NR USD. Both are passively managed. Over the past 5 years, AEME.L returned 7.32%/yr vs 8.07%/yr for E127.L. Their correlation of 0.94 suggests significant overlap in exposure. AEME.L charges 0.20%/yr vs 0.14%/yr for E127.L.

Performance

AEME.L vs. E127.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amundi Index MSCI Emerging Markets UCITS ETF DR (C) (AEME.L) and Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

AEME.L is traded in USD, while E127.L is traded in GBP. To make them comparable, the E127.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with AEME.L having a 26.36% return and E127.L slightly lower at 25.87%.

AEME.L

• 1D: -1.56%
• 1M: 5.74%
• YTD: 26.36%
• 6M: 29.09%
• 1Y: 53.12%
• 3Y*: 24.01%
• 5Y*: 7.32%
• 10Y*: —

E127.L

• 1D: -1.35%
• 1M: 5.44%
• YTD: 25.87%
• 6M: 29.68%
• 1Y: 53.28%
• 3Y*: 24.91%
• 5Y*: 8.07%
• 10Y*: —

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

AEME.L vs. E127.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AEME.L Amundi Index MSCI Emerging Markets UCITS ETF DR (C)	26.36%	34.94%	6.72%	8.41%	-19.84%	-9.55%
E127.L Amundi MSCI Emerging Markets II UCITS ETF Dist	25.87%	35.30%	8.29%	8.93%	-19.31%	-8.62%

Correlation

The correlation between AEME.L and E127.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Feb 3, 2021	0.94

The correlation between AEME.L and E127.L has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

AEME.L vs. E127.L - Sectors Allocation Comparison

Sectors	AEME.L	E127.L
Technology	43.0%	36.9%
Financial Services	17.9%	19.5%
Consumer Cyclical	8.7%	9.6%
Industrials	6.8%	7.5%
Communication Services	6.2%	6.9%
Basic Materials	5.9%	6.6%
Energy	3.5%	4.1%
Consumer Defensive	2.7%	3.0%
Healthcare	2.6%	2.9%
Utilities	1.9%	2.1%
Real Estate	1.0%	1.0%

Return for Risk

AEME.L vs. E127.L — Risk / Return Rank

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

AEME.L

AEME.L Risk / Return Rank: 80
AEME.L Sharpe Ratio Rank: 84
AEME.L Sortino Ratio Rank: 81
AEME.L Omega Ratio Rank: 82
AEME.L Calmar Ratio Rank: 77
AEME.L Martin Ratio Rank: 77

E127.L

E127.L Risk / Return Rank: 90
E127.L Sharpe Ratio Rank: 92
E127.L Sortino Ratio Rank: 90
E127.L Omega Ratio Rank: 92
E127.L Calmar Ratio Rank: 88
E127.L Martin Ratio Rank: 86

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.

AEME.L vs. E127.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Index MSCI Emerging Markets UCITS ETF DR (C) (AEME.L) and Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.L). 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.

	AEME.L	E127.L	Difference
Sharpe ratio: Return per unit of total volatility	2.70	2.83	-0.13
Sortino ratio: Return per unit of downside risk	3.57	3.72	-0.14
Omega ratio: Gain probability vs. loss probability	1.48	1.51	-0.02
Calmar ratio: Return relative to maximum drawdown	3.91	4.13	-0.22
Martin ratio: Return relative to average drawdown	14.49	15.36	-0.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AEME.L vs. E127.L - Sharpe Ratio Comparison

The current AEME.L Sharpe Ratio is 2.70, which is comparable to the E127.L Sharpe Ratio of 2.83. The chart below compares the historical Sharpe Ratios of AEME.L and E127.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AEME.L	E127.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	2.83	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.43	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.75	-0.37

Drawdowns

AEME.L vs. E127.L - Drawdown Comparison

The maximum AEME.L drawdown since its inception was -40.09%, roughly equal to the maximum E127.L drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for AEME.L and E127.L.

Drawdown Indicators

	AEME.L	E127.L	Difference
Max Drawdown Largest peak-to-trough decline	-40.09%	-39.30%	-0.79%
Max Drawdown (1Y) Largest decline over 1 year	-13.52%	-12.83%	-0.69%
Max Drawdown (3Y) Largest decline over 3 years	-17.13%	-16.10%	-1.03%
Max Drawdown (5Y) Largest decline over 5 years	-37.21%	-36.28%	-0.93%
Current Drawdown Current decline from peak	-2.74%	-2.64%	-0.10%
Average Drawdown Average peak-to-trough decline	-17.95%	-15.12%	-2.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.66%	3.46%	+0.20%

Volatility

AEME.L vs. E127.L - Volatility Comparison

Amundi Index MSCI Emerging Markets UCITS ETF DR (C) (AEME.L) has a higher volatility of 8.57% compared to Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.L) at 8.13%. This indicates that AEME.L's price experiences larger fluctuations and is considered to be riskier than E127.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AEME.L	E127.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.57%	8.13%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	16.83%	16.08%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	19.59%	18.78%	+0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.72%	18.63%	+0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.71%	18.69%	+0.02%

AEME.L vs. E127.L - Expense Ratio Comparison

AEME.L has a 0.20% expense ratio, which is higher than E127.L's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AEME.L vs. E127.L - Dividend Comparison

AEME.L has not paid dividends to shareholders, while E127.L's dividend yield for the trailing twelve months is around 1.96%.

Position	TTM	2025	2024	2023	2022	2021
AEME.L Amundi Index MSCI Emerging Markets UCITS ETF DR (C)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
E127.L Amundi MSCI Emerging Markets II UCITS ETF Dist	1.96%	2.47%	4.04%	4.40%	2.79%	2.25%

Frequently Asked Questions

Can I hold both AEME.L and E127.L in my portfolio?

With a correlation of 0.96, AEME.L and E127.L 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, AEME.L or E127.L?

On fees, E127.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AEME.L or E127.L?

E127.L is cheaper with a 0.14% expense ratio, compared with 0.20% for AEME.L.

What is the main difference between AEME.L and E127.L?

Both ETFs track MSCI EM NR USD. Their fees differ too: 0.20% for AEME.L and 0.14% for E127.L.