AMES.DE vs. DEAM.DE
AMES.DE (Amundi ETF MSCI Spain UCITS ETF EUR) and DEAM.DE (Invesco MDAX UCITS ETF A) are both Europe Equities funds - AMES.DE tracks the MSCI Spain while DEAM.DE tracks the MDAX®. Both are passively managed. Over the past 5 years, AMES.DE returned 20.69%/yr vs -1.92%/yr for DEAM.DE. A 0.67 correlation means they provide meaningful diversification when combined. AMES.DE charges 0.25%/yr vs 0.19%/yr for DEAM.DE.
Performance
AMES.DE vs. DEAM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AMES.DE achieves a 14.53% return, which is significantly higher than DEAM.DE's 3.95% return.
AMES.DE
- 1D
- 0.72%
- 1M
- 7.06%
- YTD
- 14.53%
- 6M
- 15.44%
- 1Y
- 46.37%
- 3Y*
- 32.90%
- 5Y*
- 20.69%
- 10Y*
- 13.44%
DEAM.DE
- 1D
- 0.61%
- 1M
- -2.26%
- YTD
- 3.95%
- 6M
- 5.04%
- 1Y
- 6.32%
- 3Y*
- 5.52%
- 5Y*
- -1.92%
- 10Y*
- —
AMES.DE vs. DEAM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
AMES.DE Amundi ETF MSCI Spain UCITS ETF EUR | 14.53% | 55.41% | 19.00% | 26.86% | -0.71% | 6.98% | -12.87% | 11.06% |
DEAM.DE Invesco MDAX UCITS ETF A | 3.95% | 19.33% | -6.04% | 7.34% | -28.80% | 13.67% | 8.06% | 20.37% |
Correlation
The correlation between AMES.DE and DEAM.DE is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2019 | 0.67 |
The correlation between AMES.DE and DEAM.DE has been stable across timeframes, ranging from 0.63 to 0.67 - a consistent structural relationship.
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Return for Risk
AMES.DE vs. DEAM.DE — Risk / Return Rank
AMES.DE
DEAM.DE
AMES.DE vs. DEAM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi ETF MSCI Spain UCITS ETF EUR (AMES.DE) and Invesco MDAX UCITS ETF A (DEAM.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.
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.
| AMES.DE | DEAM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.48 | ||
| Sortino ratioReturn per unit of downside risk | +3.16 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.07 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 4.64 | 0.42 | +4.22 |
| Martin ratioReturn relative to average drawdown | 16.40 | 1.19 | +15.21 |
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Drawdowns
AMES.DE vs. DEAM.DE - Drawdown Comparison
The maximum AMES.DE drawdown since its inception was -40.98%, roughly equal to the maximum DEAM.DE drawdown of -40.04%. Use the drawdown chart below to compare losses from any high point for AMES.DE and DEAM.DE.
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Drawdown Indicators
| AMES.DE | DEAM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.98% | -40.04% | -0.94% |
Max Drawdown (1Y)Largest decline over 1 year | -9.95% | -14.95% | +5.00% |
Max Drawdown (3Y)Largest decline over 3 years | -12.58% | -18.48% | +5.90% |
Max Drawdown (5Y)Largest decline over 5 years | -17.77% | -40.04% | +22.27% |
Max Drawdown (10Y)Largest decline over 10 years | -40.98% | — | — |
Current DrawdownCurrent decline from peak | -0.10% | -13.72% | +13.62% |
Average DrawdownAverage peak-to-trough decline | -10.09% | -16.21% | +6.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 5.31% | -2.49% |
Volatility
AMES.DE vs. DEAM.DE - Volatility Comparison
The current volatility for Amundi ETF MSCI Spain UCITS ETF EUR (AMES.DE) is 4.04%, while Invesco MDAX UCITS ETF A (DEAM.DE) has a volatility of 5.05%. This indicates that AMES.DE experiences smaller price fluctuations and is considered to be less risky than DEAM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AMES.DE | DEAM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 5.05% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 13.99% | 15.72% | -1.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.47% | 18.59% | -2.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.97% | 19.34% | -2.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.42% | 19.58% | -1.16% |
AMES.DE vs. DEAM.DE - Expense Ratio Comparison
AMES.DE has a 0.25% expense ratio, which is higher than DEAM.DE's 0.19% 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
AMES.DE vs. DEAM.DE - Dividend Comparison
Neither AMES.DE nor DEAM.DE has paid dividends to shareholders.
Frequently Asked Questions
AMES.DE and DEAM.DE have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DEAM.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DEAM.DE is cheaper with a 0.19% expense ratio, compared with 0.25% for AMES.DE.
AMES.DE tracks MSCI Spain, while DEAM.DE tracks MDAX®. They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.25% for AMES.DE and 0.19% for DEAM.DE.
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