CMU.L vs. SWDA.L

Last updated Jul 21, 2026

CMU.L (Amundi ETF MSCI EMU ESG Leaders Select) and SWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - CMU.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while SWDA.L is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 10 years, CMU.L returned 10.12%/yr vs 12.56%/yr for SWDA.L. A 0.79 correlation means they provide meaningful diversification when combined. CMU.L charges 0.15%/yr vs 0.20%/yr for SWDA.L.

Performance

CMU.L vs. SWDA.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 iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.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 15.46% return, which is significantly higher than SWDA.L's 9.33% return. Over the past 10 years, CMU.L has underperformed SWDA.L with an annualized return of 10.12%, while SWDA.L has yielded a comparatively higher 12.56% annualized 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%

SWDA.L

• 1D: 0.25%
• 1M: -1.61%
• 6M: 8.59%
• YTD: 9.33%
• 1Y: 20.19%
• 3Y*: 16.57%
• 5Y*: 11.82%
• 10Y*: 12.56%
• ALL TIME*: 9.05%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMU.L Amundi ETF MSCI EMU ESG Leaders Select	15.46%	25.71%	1.42%	14.39%	-5.30%	13.03%	4.59%	19.05%	-11.56%	17.21%
SWDA.L iShares Core MSCI World UCITS ETF USD (Acc)	9.33%	12.64%	21.11%	17.59%	-8.33%	23.64%	12.25%	23.03%	-3.78%	11.78%

Correlation

The correlation between CMU.L and SWDA.L is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since May 9, 2011	0.79

The correlation between CMU.L and SWDA.L shifts across timeframes, from 0.66 (3 years) to 0.79 (all time), reflecting how their relationship changes across market environments.

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

Sectors	CMU.L	SWDA.L
Financial Services	28.4%	16.3%
Technology	20.7%	30.3%
Industrials	16.7%	11.1%
Consumer Cyclical	10.5%	8.9%
Utilities	6.4%	2.5%
Consumer Defensive	6.1%	4.9%
Healthcare	4.5%	8.9%
Basic Materials	3.5%	3.1%
Communication Services	2.2%	8.5%
Real Estate	1.0%	1.7%
Energy	0.0%	3.8%

Return for Risk

CMU.L vs. SWDA.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: 69
CMU.L Sharpe Ratio Rank: 73
CMU.L Sortino Ratio Rank: 73
CMU.L Omega Ratio Rank: 73
CMU.L Calmar Ratio Rank: 62
CMU.L Martin Ratio Rank: 65

SWDA.L

SWDA.L Risk / Return Rank: 81
SWDA.L Sharpe Ratio Rank: 81
SWDA.L Sortino Ratio Rank: 80
SWDA.L Omega Ratio Rank: 80
SWDA.L Calmar Ratio Rank: 80
SWDA.L Martin Ratio Rank: 83

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. SWDA.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 iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.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.

	CMU.L	SWDA.L	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.92	-0.20
Sortino ratio: Return per unit of downside risk	2.48	2.71	-0.24
Omega ratio: Gain probability vs. loss probability	1.32	1.36	-0.04
Calmar ratio: Return relative to maximum drawdown	2.28	3.07	-0.79
Martin ratio: Return relative to average drawdown	8.43	11.89	-3.46

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

The current CMU.L Sharpe Ratio is 1.73, which is comparable to the SWDA.L Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of CMU.L and SWDA.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.

Drawdowns

CMU.L vs. SWDA.L - Drawdown Comparison

The maximum CMU.L drawdown since its inception was -31.46%, smaller than the maximum SWDA.L drawdown of -41.70%. Use the drawdown chart below to compare losses from any high point for CMU.L and SWDA.L.

Drawdown Indicators

	CMU.L	SWDA.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.46%	-41.70%	+10.24%
Max Drawdown (1Y) Largest decline over 1 year	-11.43%	-6.55%	-4.88%
Max Drawdown (3Y) Largest decline over 3 years	-11.95%	-18.50%	+6.55%
Max Drawdown (5Y) Largest decline over 5 years	-21.11%	-18.50%	-2.61%
Max Drawdown (10Y) Largest decline over 10 years	-31.41%	-25.58%	-5.83%
Current Drawdown Current decline from peak	-3.81%	-1.61%	-2.20%
Average Drawdown Average peak-to-trough decline	-6.61%	-9.44%	+2.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	1.69%	+1.40%

Volatility

CMU.L vs. SWDA.L - Volatility Comparison

Amundi ETF MSCI EMU ESG Leaders Select (CMU.L) has a higher volatility of 3.79% compared to iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L) at 2.67%. This indicates that CMU.L's price experiences larger fluctuations and is considered to be riskier than SWDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMU.L	SWDA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	2.67%	+1.12%
Volatility (6M) Calculated over the trailing 6-month period	12.80%	7.71%	+5.09%
Volatility (1Y) Calculated over the trailing 1-year period	15.08%	10.47%	+4.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.99%	13.33%	+2.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.68%	14.51%	+2.17%

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

CMU.L has a 0.15% expense ratio, which is lower than SWDA.L's 0.20% expense ratio. Despite the difference, 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. SWDA.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

CMU.L and SWDA.L have a correlation of 0.73, 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 SWDA.L?

On fees, CMU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

CMU.L is cheaper with a 0.15% expense ratio, compared with 0.20% for SWDA.L.

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

CMU.L is categorized as Europe Equities, while SWDA.L is Global Equities. CMU.L tracks MSCI EMU NR EUR, while SWDA.L tracks MSCI World Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.15% for CMU.L and 0.20% for SWDA.L.