CMU.L vs. EMNE.DE
CMU.L (Amundi ETF MSCI EMU ESG Leaders Select) and EMNE.DE (iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist)) are both Europe Equities funds - CMU.L tracks the MSCI EMU NR EUR while EMNE.DE tracks the MSCI EMU ESG Enhanced Focus CTB Index. Both are passively managed. Over the past 5 years, CMU.L returned 10.51%/yr vs 10.15%/yr for EMNE.DE. A 0.78 correlation means they provide meaningful diversification when combined. CMU.L charges 0.15%/yr vs 0.12%/yr for EMNE.DE.
Performance
CMU.L vs. EMNE.DE - Performance Comparison
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Different Trading Currencies
CMU.L is traded in GBp, while EMNE.DE is traded in EUR. To make them comparable, the EMNE.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CMU.L achieves a 15.46% return, which is significantly higher than EMNE.DE's 7.07% return.
CMU.L
- 1D
- 0.09%
- 1M
- -3.51%
- 6M
- 14.95%
- YTD
- 15.46%
- 1Y
- 26.13%
- 3Y*
- 14.82%
- 5Y*
- 10.51%
- 10Y*
- 10.12%
- ALL TIME*
- 8.12%
EMNE.DE
- 1D
- 0.16%
- 1M
- -4.03%
- 6M
- 5.99%
- YTD
- 7.07%
- 1Y
- 16.55%
- 3Y*
- 14.14%
- 5Y*
- 10.15%
- 10Y*
- —
- ALL TIME*
- 11.20%
CMU.L vs. EMNE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CMU.L Amundi ETF MSCI EMU ESG Leaders Select | 15.46% | 25.71% | 1.42% | 14.39% | -5.30% | 13.03% | 4.59% | 12.74% |
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 7.07% | 28.54% | 5.07% | 16.42% | -7.55% | 14.09% | 7.17% | 14.90% |
Correlation
The correlation between CMU.L and EMNE.DE is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019 | 0.78 |
The correlation between CMU.L and EMNE.DE shifts across timeframes, from 0.78 (all time) to 0.92 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CMU.L vs. EMNE.DE — Risk / Return Rank
CMU.L
EMNE.DE
CMU.L vs. EMNE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi ETF MSCI EMU ESG Leaders Select (CMU.L) and iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.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.
| CMU.L | EMNE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.21 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 1.44 | +0.84 |
| Martin ratioReturn relative to average drawdown | 8.43 | 5.06 | +3.37 |
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Drawdowns
CMU.L vs. EMNE.DE - Drawdown Comparison
The maximum CMU.L drawdown since its inception was -31.46%, which is greater than EMNE.DE's maximum drawdown of -28.65%. Use the drawdown chart below to compare losses from any high point for CMU.L and EMNE.DE.
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Drawdown Indicators
| CMU.L | EMNE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.46% | -28.65% | -2.81% |
Max Drawdown (1Y)Largest decline over 1 year | -11.43% | -11.44% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -11.95% | -13.12% | +1.17% |
Max Drawdown (5Y)Largest decline over 5 years | -21.11% | -22.68% | +1.57% |
Max Drawdown (10Y)Largest decline over 10 years | -31.41% | — | — |
Current DrawdownCurrent decline from peak | -3.81% | -4.31% | +0.50% |
Average DrawdownAverage peak-to-trough decline | -6.61% | -4.82% | -1.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 3.26% | -0.17% |
Volatility
CMU.L vs. EMNE.DE - Volatility Comparison
The current volatility for Amundi ETF MSCI EMU ESG Leaders Select (CMU.L) is 3.79%, while iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.DE) has a volatility of 4.02%. This indicates that CMU.L experiences smaller price fluctuations and is considered to be less risky than EMNE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMU.L | EMNE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.79% | 4.02% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 12.80% | 12.72% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.08% | 14.81% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.99% | 16.40% | -0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.68% | 20.19% | -3.51% |
CMU.L vs. EMNE.DE - Expense Ratio Comparison
CMU.L has a 0.15% expense ratio, which is higher than EMNE.DE's 0.12% 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
CMU.L vs. EMNE.DE - Dividend Comparison
CMU.L has not paid dividends to shareholders, while EMNE.DE's dividend yield for the trailing twelve months is around 2.39%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CMU.L Amundi ETF MSCI EMU ESG Leaders Select | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 2.39% | 2.61% | 2.95% | 3.17% | 3.34% | 2.40% | 1.85% | 2.67% |
Frequently Asked Questions
CMU.L and EMNE.DE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMNE.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMNE.DE is cheaper with a 0.12% expense ratio, compared with 0.15% for CMU.L.
CMU.L tracks MSCI EMU NR EUR, while EMNE.DE tracks MSCI EMU ESG Enhanced Focus CTB Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.15% for CMU.L and 0.12% for EMNE.DE.
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