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CMU.L vs. MIVO.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CMU.L vs. MIVO.L

Last updated Jun 5, 2026

CMU.L (Amundi ETF MSCI EMU ESG Leaders Select) and MIVO.L (Amundi MSCI Europe Minimum Volatility UCITS) are both Europe Equities funds from Amundi - CMU.L tracks the MSCI EMU NR EUR while MIVO.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, CMU.L returned 10.79%/yr vs 7.53%/yr for MIVO.L. A 0.78 correlation means they provide meaningful diversification when combined. CMU.L charges 0.15%/yr vs 0.13%/yr for MIVO.L.

Performance

CMU.L vs. MIVO.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi ETF MSCI EMU ESG Leaders Select (CMU.L) and Amundi MSCI Europe Minimum Volatility UCITS (MIVO.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CMU.L achieves a 15.89% return, which is significantly higher than MIVO.L's 4.24% return. Over the past 10 years, CMU.L has outperformed MIVO.L with an annualized return of 10.79%, while MIVO.L has yielded a comparatively lower 7.53% annualized return.

CMU.L

1D
0.33%
1M
8.13%
YTD
15.89%
6M
17.12%
1Y
29.56%
3Y*
16.11%
5Y*
10.52%
10Y*
10.79%

MIVO.L

1D
0.44%
1M
0.62%
YTD
4.24%
6M
5.52%
1Y
7.85%
3Y*
10.28%
5Y*
7.34%
10Y*
7.53%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CMU.L vs. MIVO.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CMU.L
Amundi ETF MSCI EMU ESG Leaders Select		15.89%25.71%1.42%14.39%-5.30%13.03%4.59%19.05%-11.56%17.21%
MIVO.L
Amundi MSCI Europe Minimum Volatility UCITS		4.24%17.54%6.50%8.50%-7.95%13.43%1.38%16.36%-3.04%13.15%

Correlation

The correlation between CMU.L and MIVO.L is 0.60, 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

0.60

Correlation (3Y)
Calculated over the trailing 3-year period

0.70

Correlation (5Y)
Calculated over the trailing 5-year period

0.75

Correlation (10Y)
Calculated over the trailing 10-year period

0.81

Correlation (All Time)
Calculated using the full available price history since Dec 7, 2011

0.78

The correlation between CMU.L and MIVO.L shifts across timeframes, from 0.60 (1 year) to 0.81 (10 years), reflecting how their relationship changes across market environments.

CMU.L vs. MIVO.L - Sectors Allocation Comparison

Sectors
CMU.L
MIVO.L

Technology

30.8%
2.5%

Financial Services

21.8%
17.5%

Industrials

15.7%
15.5%

Consumer Cyclical

10.1%
3.3%

Utilities

5.8%
10.5%

Consumer Defensive

5.2%
13.3%

Healthcare

4.2%
13.1%

Basic Materials

2.8%
3.6%

Communication Services

2.3%
9.5%

Real Estate

1.3%
1.5%

Energy

0.0%
9.9%

Technology

CMU.L
30.8%
MIVO.L
2.5%

Financial Services

CMU.L
21.8%
MIVO.L
17.5%

Industrials

CMU.L
15.7%
MIVO.L
15.5%

Consumer Cyclical

CMU.L
10.1%
MIVO.L
3.3%

Utilities

CMU.L
5.8%
MIVO.L
10.5%

Consumer Defensive

CMU.L
5.2%
MIVO.L
13.3%

Healthcare

CMU.L
4.2%
MIVO.L
13.1%

Basic Materials

CMU.L
2.8%
MIVO.L
3.6%

Communication Services

CMU.L
2.3%
MIVO.L
9.5%

Real Estate

CMU.L
1.3%
MIVO.L
1.5%

Energy

CMU.L
0.0%
MIVO.L
9.9%

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Amundi ETF MSCI EMU ESG Leaders Select

Amundi MSCI Europe Minimum Volatility UCITS

Often compared with CMU.L:
CMU.L vs. CEUR.LCMU.L vs. GLDCMU.L vs. UB06.LCMU.L vs. FLXD.LCMU.L vs. 100D.LCMU.L vs. 500U.LCMU.L vs. BNKE.L
Often compared with MIVO.L:
MIVO.L vs. IMV.LMIVO.L vs. MVED.LMIVO.L vs. EDIV.LMIVO.L vs. WDEP.LMIVO.L vs. PRUK.LMIVO.L vs. CSWG.LMIVO.L vs. HDEU.L

Return for Risk

CMU.L vs. MIVO.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CMU.L
CMU.L Risk / Return Rank: 5858
Overall Rank
CMU.L Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
CMU.L Sortino Ratio Rank: 6060
Sortino Ratio Rank
CMU.L Omega Ratio Rank: 6161
Omega Ratio Rank
CMU.L Calmar Ratio Rank: 5252
Calmar Ratio Rank
CMU.L Martin Ratio Rank: 5656
Martin Ratio Rank
MIVO.L
MIVO.L Risk / Return Rank: 2323
Overall Rank
MIVO.L Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
MIVO.L Sortino Ratio Rank: 2323
Sortino Ratio Rank
MIVO.L Omega Ratio Rank: 2525
Omega Ratio Rank
MIVO.L Calmar Ratio Rank: 2121
Calmar Ratio Rank
MIVO.L Martin Ratio Rank: 2222
Martin Ratio Rank
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.

CMU.L vs. MIVO.L - 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 Amundi MSCI Europe Minimum Volatility UCITS (MIVO.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.

CMU.LMIVO.LDifference
Sharpe ratioReturn per unit of total volatility
1.98
0.88

+1.10

Sortino ratioReturn per unit of downside risk
2.79
1.22

+1.57

Omega ratioGain probability vs. loss probability

1.37

1.16

+0.20

Calmar ratioReturn relative to maximum drawdown

2.58

0.93

+1.64

Martin ratioReturn relative to average drawdown

9.67

2.76

+6.91

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMU.L vs. MIVO.L - Sharpe Ratio Comparison

The current CMU.L Sharpe Ratio is 1.98, which is higher than the MIVO.L Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of CMU.L and MIVO.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.

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Sharpe Ratios by Period

CMU.LMIVO.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.98

0.88

+1.10

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

0.67

-0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.65

0.62

+0.03

Sharpe Ratio (All Time)

Calculated using the full available price history

0.49

0.74

-0.25

Drawdowns

CMU.L vs. MIVO.L - Drawdown Comparison

The maximum CMU.L drawdown since its inception was -32.53%, which is greater than MIVO.L's maximum drawdown of -24.30%. Use the drawdown chart below to compare losses from any high point for CMU.L and MIVO.L.

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Drawdown Indicators

CMU.LMIVO.LDifference

Max Drawdown

Largest peak-to-trough decline

-32.53%

-24.30%

-8.23%

Max Drawdown (1Y)

Largest decline over 1 year

-11.43%

-8.38%

-3.05%

Max Drawdown (3Y)

Largest decline over 3 years

-11.95%

-8.38%

-3.57%

Max Drawdown (5Y)

Largest decline over 5 years

-21.11%

-17.54%

-3.57%

Max Drawdown (10Y)

Largest decline over 10 years

-31.41%

-24.30%

-7.11%

Current Drawdown

Current decline from peak

-0.18%

-4.95%

+4.77%

Average Drawdown

Average peak-to-trough decline

-5.80%

-3.61%

-2.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.05%

2.84%

+0.21%

Volatility

CMU.L vs. MIVO.L - Volatility Comparison

Amundi ETF MSCI EMU ESG Leaders Select (CMU.L) has a higher volatility of 5.34% compared to Amundi MSCI Europe Minimum Volatility UCITS (MIVO.L) at 2.77%. This indicates that CMU.L's price experiences larger fluctuations and is considered to be riskier than MIVO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CMU.LMIVO.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.34%

2.77%

+2.57%

Volatility (6M)

Calculated over the trailing 6-month period

12.44%

7.44%

+5.00%

Volatility (1Y)

Calculated over the trailing 1-year period

14.86%

8.91%

+5.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.00%

10.94%

+5.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.78%

12.25%

+4.53%

CMU.L vs. MIVO.L - Expense Ratio Comparison

CMU.L has a 0.15% expense ratio, which is higher than MIVO.L's 0.13% 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. MIVO.L - Dividend Comparison

Neither CMU.L nor MIVO.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

CMU.L and MIVO.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, MIVO.L is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

MIVO.L is cheaper with a 0.13% expense ratio, compared with 0.15% for CMU.L.

CMU.L tracks MSCI EMU NR EUR, while MIVO.L tracks MSCI Europe NR EUR. Their fees differ too: 0.15% for CMU.L and 0.13% for MIVO.L.

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