AMEM.DE vs. CSH2.L
AMEM.DE (Amundi MSCI Emerging Markets UCITS ETF EUR) and CSH2.L (Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc) are both exchange-traded funds - AMEM.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets, while CSH2.L is a Money Market fund tracking the SONIA Compounded (GBP Hedged). Both are passively managed. Over the past 10 years, AMEM.DE returned 8.29%/yr vs 1.97%/yr for CSH2.L. At a 0.19 correlation, their price movements are largely independent. AMEM.DE charges 0.20%/yr vs 0.10%/yr for CSH2.L.
Performance
AMEM.DE vs. CSH2.L - Performance Comparison
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Different Trading Currencies
AMEM.DE is traded in EUR, while CSH2.L is traded in GBp. To make them comparable, the CSH2.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 CSH2.L's 5.02% return. Over the past 10 years, AMEM.DE has outperformed CSH2.L with an annualized return of 8.29%, while CSH2.L has yielded a comparatively lower 1.97% 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%
CSH2.L
- 1D
- 0.09%
- 1M
- 2.33%
- 6M
- 4.19%
- YTD
- 5.02%
- 1Y
- 6.40%
- 3Y*
- 5.60%
- 5Y*
- 4.02%
- 10Y*
- 1.97%
- ALL TIME*
- 0.46%
AMEM.DE vs. CSH2.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% |
CSH2.L Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc | 5.02% | -0.79% | 10.71% | 6.94% | -3.70% | 6.64% | -5.15% | 7.23% | -0.54% | -3.53% |
Correlation
The correlation between AMEM.DE and CSH2.L is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | 0.19 |
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Return for Risk
AMEM.DE vs. CSH2.L — Risk / Return Rank
AMEM.DE
CSH2.L
AMEM.DE vs. CSH2.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 Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.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 | CSH2.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.31 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 4.42 | -1.25 |
| Martin ratioReturn relative to average drawdown | 9.65 | 11.29 | -1.64 |
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Drawdowns
AMEM.DE vs. CSH2.L - Drawdown Comparison
The maximum AMEM.DE drawdown since its inception was -35.91%, which is greater than CSH2.L's maximum drawdown of -24.26%. Use the drawdown chart below to compare losses from any high point for AMEM.DE and CSH2.L.
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Drawdown Indicators
| AMEM.DE | CSH2.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.91% | -24.26% | -11.65% |
Max Drawdown (1Y)Largest decline over 1 year | -11.06% | -1.44% | -9.62% |
Max Drawdown (3Y)Largest decline over 3 years | -19.20% | -4.44% | -14.76% |
Max Drawdown (5Y)Largest decline over 5 years | -22.67% | -7.40% | -15.27% |
Max Drawdown (10Y)Largest decline over 10 years | -31.83% | -11.59% | -20.24% |
Current DrawdownCurrent decline from peak | -9.96% | -0.34% | -9.62% |
Average DrawdownAverage peak-to-trough decline | -10.19% | -13.70% | +3.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 0.57% | +3.07% |
Volatility
AMEM.DE vs. CSH2.L - Volatility Comparison
Amundi MSCI Emerging Markets UCITS ETF EUR (AMEM.DE) has a higher volatility of 8.54% compared to Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L) at 1.11%. This indicates that AMEM.DE's price experiences larger fluctuations and is considered to be riskier than CSH2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AMEM.DE | CSH2.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.54% | 1.11% | +7.43% |
Volatility (6M)Calculated over the trailing 6-month period | 17.72% | 2.61% | +15.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.15% | 3.89% | +16.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.27% | 5.42% | +11.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.48% | 6.69% | +11.79% |
AMEM.DE vs. CSH2.L - Expense Ratio Comparison
AMEM.DE has a 0.20% expense ratio, which is higher than CSH2.L's 0.10% 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. CSH2.L - Dividend Comparison
Neither AMEM.DE nor CSH2.L has paid dividends to shareholders.
Frequently Asked Questions
AMEM.DE and CSH2.L have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSH2.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSH2.L is cheaper with a 0.10% expense ratio, compared with 0.20% for AMEM.DE.
AMEM.DE is categorized as Emerging Markets Equities, while CSH2.L is Money Market. AMEM.DE tracks MSCI Emerging Markets, while CSH2.L tracks SONIA Compounded (GBP Hedged). Their fees differ too: 0.20% for AMEM.DE and 0.10% for CSH2.L.
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