ALAU.L vs. CMX1.L
ALAU.L (Amundi MSCI Em Latin America) and CMX1.L (iShares MSCI Mexico Capped UCITS ETF USD (Acc)) are both Latin America Equities funds - ALAU.L tracks the MSCI EM Latin America NR USD while CMX1.L tracks the MSCI Mexico Capped Index (Net Return Index). Both are passively managed. Over the past 10 years, ALAU.L returned 6.94%/yr vs 6.80%/yr for CMX1.L. A 0.64 correlation means they provide meaningful diversification when combined. ALAU.L charges 0.10%/yr vs 0.65%/yr for CMX1.L.
Performance
ALAU.L vs. CMX1.L - Performance Comparison
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Different Trading Currencies
ALAU.L is traded in USD, while CMX1.L is traded in GBp. To make them comparable, the CMX1.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ALAU.L achieves a 13.30% return, which is significantly higher than CMX1.L's 10.83% return. Both investments have delivered pretty close results over the past 10 years, with ALAU.L having a 6.94% annualized return and CMX1.L not far behind at 6.80%.
ALAU.L
- 1D
- -0.29%
- 1M
- -0.12%
- 6M
- 7.68%
- YTD
- 13.30%
- 1Y
- 40.17%
- 3Y*
- 12.26%
- 5Y*
- 9.65%
- 10Y*
- 6.94%
CMX1.L
- 1D
- 0.00%
- 1M
- -4.44%
- 6M
- 5.16%
- YTD
- 10.83%
- 1Y
- 34.23%
- 3Y*
- 10.86%
- 5Y*
- 12.87%
- 10Y*
- 6.80%
ALAU.L vs. CMX1.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALAU.L Amundi MSCI Em Latin America | 13.30% | 55.22% | -26.49% | 32.27% | 8.88% | -9.44% | -13.65% | 17.11% | -7.39% | 23.26% |
CMX1.L iShares MSCI Mexico Capped UCITS ETF USD (Acc) | 10.83% | 57.38% | -28.08% | 37.04% | -1.20% | 19.62% | -0.52% | 10.62% | -14.13% | 12.76% |
Correlation
The correlation between ALAU.L and CMX1.L is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since May 11, 2011 | 0.64 |
The correlation between ALAU.L and CMX1.L has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.
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Return for Risk
ALAU.L vs. CMX1.L — Risk / Return Rank
ALAU.L
CMX1.L
ALAU.L vs. CMX1.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Em Latin America (ALAU.L) and iShares MSCI Mexico Capped UCITS ETF USD (Acc) (CMX1.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.
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.
| ALAU.L | CMX1.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.27 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | 2.43 | +0.24 |
| Martin ratioReturn relative to average drawdown | 7.17 | 8.39 | -1.21 |
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Drawdowns
ALAU.L vs. CMX1.L - Drawdown Comparison
The maximum ALAU.L drawdown since its inception was -62.98%, smaller than the maximum CMX1.L drawdown of -98.54%. Use the drawdown chart below to compare losses from any high point for ALAU.L and CMX1.L.
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Drawdown Indicators
| ALAU.L | CMX1.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.98% | -98.54% | +35.56% |
Max Drawdown (1Y)Largest decline over 1 year | -14.94% | -13.74% | -1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -27.24% | -35.43% | +8.19% |
Max Drawdown (5Y)Largest decline over 5 years | -28.77% | -35.43% | +6.66% |
Max Drawdown (10Y)Largest decline over 10 years | -54.88% | -53.02% | -1.86% |
Current DrawdownCurrent decline from peak | -9.29% | -5.24% | -4.05% |
Average DrawdownAverage peak-to-trough decline | -28.40% | -20.31% | -8.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.58% | 3.99% | +1.59% |
Volatility
ALAU.L vs. CMX1.L - Volatility Comparison
The current volatility for Amundi MSCI Em Latin America (ALAU.L) is 5.78%, while iShares MSCI Mexico Capped UCITS ETF USD (Acc) (CMX1.L) has a volatility of 6.44%. This indicates that ALAU.L experiences smaller price fluctuations and is considered to be less risky than CMX1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALAU.L | CMX1.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.78% | 6.44% | -0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 17.41% | 18.04% | -0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.94% | 21.27% | -0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.91% | 26.76% | -3.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.23% | 26.87% | -0.64% |
ALAU.L vs. CMX1.L - Expense Ratio Comparison
ALAU.L has a 0.10% expense ratio, which is lower than CMX1.L's 0.65% expense ratio.
Dividends
ALAU.L vs. CMX1.L - Dividend Comparison
Neither ALAU.L nor CMX1.L has paid dividends to shareholders.
Frequently Asked Questions
ALAU.L and CMX1.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ALAU.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ALAU.L is cheaper with a 0.10% expense ratio, compared with 0.65% for CMX1.L.
ALAU.L tracks MSCI EM Latin America NR USD, while CMX1.L tracks MSCI Mexico Capped Index (Net Return Index). They also come from different issuers: Amundi and iShares. Their fees differ too: 0.10% for ALAU.L and 0.65% for CMX1.L.
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