CMU.L vs. MSEA.L

Last updated Jun 5, 2026

CMU.L (Amundi ETF MSCI EMU ESG Leaders Select) and MSEA.L (UBS Core MSCI Europe UCITS ETF Capitalisation A) are both Europe Equities funds - CMU.L tracks the MSCI EMU NR EUR while MSEA.L tracks the MSCI Europe Index. Both are passively managed. A 0.77 correlation means they provide meaningful diversification when combined. CMU.L charges 0.15%/yr vs 0.10%/yr for MSEA.L.

Performance

CMU.L vs. MSEA.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 UBS Core MSCI Europe UCITS ETF Capitalisation A (MSEA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMU.L achieves a 15.89% return, which is significantly higher than MSEA.L's 7.55% 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%

MSEA.L

• 1D: 0.46%
• 1M: 3.69%
• YTD: 7.55%
• 6M: 8.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025
CMU.L Amundi ETF MSCI EMU ESG Leaders Select	15.89%	8.94%
MSEA.L UBS Core MSCI Europe UCITS ETF Capitalisation A	7.55%	7.48%

Correlation

The correlation between CMU.L and MSEA.L is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 28, 2025	0.77

Return for Risk

CMU.L vs. MSEA.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: 58
CMU.L Sharpe Ratio Rank: 59
CMU.L Sortino Ratio Rank: 60
CMU.L Omega Ratio Rank: 61
CMU.L Calmar Ratio Rank: 52
CMU.L Martin Ratio Rank: 56

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. MSEA.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 UBS Core MSCI Europe UCITS ETF Capitalisation A (MSEA.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.L	MSEA.L	Difference
Sharpe ratio: Return per unit of total volatility	1.98	—	—
Sortino ratio: Return per unit of downside risk	2.79	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	2.58	—	—
Martin ratio: Return relative to average drawdown	9.67	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CMU.L	MSEA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	1.99	-1.50

Drawdowns

CMU.L vs. MSEA.L - Drawdown Comparison

The maximum CMU.L drawdown since its inception was -32.53%, which is greater than MSEA.L's maximum drawdown of -10.45%. Use the drawdown chart below to compare losses from any high point for CMU.L and MSEA.L.

Drawdown Indicators

	CMU.L	MSEA.L	Difference
Max Drawdown Largest peak-to-trough decline	-32.53%	-10.45%	-22.08%
Max Drawdown (1Y) Largest decline over 1 year	-11.43%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-11.95%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.11%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-31.41%	—	—
Current Drawdown Current decline from peak	-0.18%	-1.14%	+0.96%
Average Drawdown Average peak-to-trough decline	-5.80%	-2.48%	-3.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	—	—

Volatility

Volatility by Period

	CMU.L	MSEA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.44%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.86%	15.18%	-0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.00%	15.18%	+0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.78%	15.18%	+1.60%

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

CMU.L has a 0.15% expense ratio, which is higher than MSEA.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

CMU.L vs. MSEA.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

CMU.L and MSEA.L have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CMU.L or MSEA.L?

On fees, MSEA.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CMU.L or MSEA.L?

MSEA.L is cheaper with a 0.10% expense ratio, compared with 0.15% for CMU.L.

What is the main difference between CMU.L and MSEA.L?

CMU.L tracks MSCI EMU NR EUR, while MSEA.L tracks MSCI Europe Index. They also come from different issuers: Amundi and UBS. Their fees differ too: 0.15% for CMU.L and 0.10% for MSEA.L.