AMEM.DE vs. CMU.L

Last updated Jul 21, 2026

AMEM.DE (Amundi MSCI Emerging Markets UCITS ETF EUR) and CMU.L (Amundi ETF MSCI EMU ESG Leaders Select) are both exchange-traded funds - AMEM.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets, while CMU.L is a Europe Equities fund tracking the MSCI EMU NR EUR. Both are passively managed. Over the past 10 years, AMEM.DE returned 8.29%/yr vs 9.96%/yr for CMU.L. A 0.60 correlation means they provide meaningful diversification when combined. AMEM.DE charges 0.20%/yr vs 0.15%/yr for CMU.L.

Performance

AMEM.DE vs. CMU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi MSCI Emerging Markets UCITS ETF EUR (AMEM.DE) and Amundi ETF MSCI EMU ESG Leaders Select (CMU.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

AMEM.DE is traded in EUR, while CMU.L is traded in GBp. To make them comparable, the CMU.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, AMEM.DE achieves a 20.68% return, which is significantly higher than CMU.L's 18.60% return. Over the past 10 years, AMEM.DE has underperformed CMU.L with an annualized return of 8.29%, while CMU.L has yielded a comparatively higher 9.96% annualized return.

AMEM.DE

• 1D: 1.23%
• 1M: -8.29%
• 6M: 12.96%
• YTD: 20.68%
• 1Y: 35.22%
• 3Y*: 18.88%
• 5Y*: 7.63%
• 10Y*: 8.29%
• ALL TIME*: 6.16%

CMU.L

• 1D: 0.17%
• 1M: -1.58%
• 6M: 17.34%
• YTD: 18.60%
• 1Y: 28.64%
• 3Y*: 15.53%
• 5Y*: 10.79%
• 10Y*: 9.96%
• ALL TIME*: 8.33%

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

AMEM.DE vs. CMU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMEM.DE Amundi MSCI Emerging Markets UCITS ETF EUR	20.68%	19.22%	13.69%	5.35%	-13.83%	3.96%	6.43%	21.24%	-11.00%	20.46%
CMU.L Amundi ETF MSCI EMU ESG Leaders Select	18.60%	19.15%	6.31%	16.82%	-10.18%	20.38%	-1.09%	26.62%	-12.65%	12.59%

Correlation

The correlation between AMEM.DE and CMU.L is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since May 9, 2011	0.60

The correlation between AMEM.DE and CMU.L has been stable across timeframes, ranging from 0.56 to 0.61 - a consistent structural relationship.

Return for Risk

AMEM.DE vs. CMU.L — Risk / Return Rank

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

AMEM.DE

AMEM.DE Risk / Return Rank: 74
AMEM.DE Sharpe Ratio Rank: 73
AMEM.DE Sortino Ratio Rank: 69
AMEM.DE Omega Ratio Rank: 72
AMEM.DE Calmar Ratio Rank: 81
AMEM.DE Martin Ratio Rank: 72

CMU.L

CMU.L Risk / Return Rank: 69
CMU.L Sharpe Ratio Rank: 73
CMU.L Sortino Ratio Rank: 73
CMU.L Omega Ratio Rank: 73
CMU.L Calmar Ratio Rank: 62
CMU.L Martin Ratio Rank: 65

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.

AMEM.DE vs. CMU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Emerging Markets UCITS ETF EUR (AMEM.DE) and Amundi ETF MSCI EMU ESG Leaders Select (CMU.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.

	AMEM.DE	CMU.L	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.89	-0.15
Sortino ratio: Return per unit of downside risk	2.36	2.73	-0.37
Omega ratio: Gain probability vs. loss probability	1.32	1.35	-0.04
Calmar ratio: Return relative to maximum drawdown	3.17	2.69	+0.48
Martin ratio: Return relative to average drawdown	9.65	10.30	-0.65

AMEM.DE vs. CMU.L - Sharpe Ratio Comparison

The current AMEM.DE Sharpe Ratio is 1.74, which is comparable to the CMU.L Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of AMEM.DE and CMU.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.

Drawdowns

AMEM.DE vs. CMU.L - Drawdown Comparison

The maximum AMEM.DE drawdown since its inception was -35.91%, smaller than the maximum CMU.L drawdown of -38.75%. Use the drawdown chart below to compare losses from any high point for AMEM.DE and CMU.L.

Drawdown Indicators

	AMEM.DE	CMU.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.91%	-38.75%	+2.84%
Max Drawdown (1Y) Largest decline over 1 year	-11.06%	-10.61%	-0.45%
Max Drawdown (3Y) Largest decline over 3 years	-19.20%	-14.04%	-5.16%
Max Drawdown (5Y) Largest decline over 5 years	-22.67%	-23.95%	+1.28%
Max Drawdown (10Y) Largest decline over 10 years	-31.83%	-38.75%	+6.92%
Current Drawdown Current decline from peak	-9.96%	-2.65%	-7.31%
Average Drawdown Average peak-to-trough decline	-10.19%	-6.75%	-3.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.64%	2.77%	+0.87%

Volatility

AMEM.DE vs. CMU.L - Volatility Comparison

Amundi MSCI Emerging Markets UCITS ETF EUR (AMEM.DE) has a higher volatility of 8.54% compared to Amundi ETF MSCI EMU ESG Leaders Select (CMU.L) at 3.64%. This indicates that AMEM.DE's price experiences larger fluctuations and is considered to be riskier than CMU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMEM.DE	CMU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.54%	3.64%	+4.90%
Volatility (6M) Calculated over the trailing 6-month period	17.72%	12.60%	+5.12%
Volatility (1Y) Calculated over the trailing 1-year period	20.15%	15.10%	+5.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.27%	16.00%	+1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.48%	16.82%	+1.66%

AMEM.DE vs. CMU.L - Expense Ratio Comparison

AMEM.DE has a 0.20% expense ratio, which is higher than CMU.L's 0.15% 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

AMEM.DE vs. CMU.L - Dividend Comparison

Neither AMEM.DE nor CMU.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AMEM.DE and CMU.L in my portfolio?

AMEM.DE and CMU.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AMEM.DE or CMU.L?

On fees, CMU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AMEM.DE or CMU.L?

CMU.L is cheaper with a 0.15% expense ratio, compared with 0.20% for AMEM.DE.

What is the main difference between AMEM.DE and CMU.L?

AMEM.DE is categorized as Emerging Markets Equities, while CMU.L is Europe Equities. AMEM.DE tracks MSCI Emerging Markets, while CMU.L tracks MSCI EMU NR EUR. Their fees differ too: 0.20% for AMEM.DE and 0.15% for CMU.L.