CMU.L vs. TDIV.AS
CMU.L (Amundi ETF MSCI EMU ESG Leaders Select) and TDIV.AS (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) are both exchange-traded funds - CMU.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while TDIV.AS is a Global Equity Income fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. Both are passively managed. Over the past 10 years, CMU.L returned 10.12%/yr vs 12.27%/yr for TDIV.AS. A 0.70 correlation means they provide meaningful diversification when combined. CMU.L charges 0.15%/yr vs 0.38%/yr for TDIV.AS.
Performance
CMU.L vs. TDIV.AS - Performance Comparison
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Different Trading Currencies
CMU.L is traded in GBp, while TDIV.AS is traded in EUR. To make them comparable, the TDIV.AS 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 TDIV.AS's 11.67% return. Over the past 10 years, CMU.L has underperformed TDIV.AS with an annualized return of 10.12%, while TDIV.AS has yielded a comparatively higher 12.27% 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%
TDIV.AS
- 1D
- -0.31%
- 1M
- 1.91%
- 6M
- 10.29%
- YTD
- 11.67%
- 1Y
- 28.84%
- 3Y*
- 20.18%
- 5Y*
- 18.35%
- 10Y*
- 12.27%
- ALL TIME*
- 13.53%
CMU.L vs. TDIV.AS - 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% |
TDIV.AS VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF | 11.67% | 31.05% | 10.63% | 9.52% | 21.37% | 20.25% | -5.07% | 14.10% | -6.21% | 7.27% |
Correlation
The correlation between CMU.L and TDIV.AS is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since May 23, 2016 | 0.70 |
Over the past year, the correlation between CMU.L and TDIV.AS has dropped to 0.42 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.
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Return for Risk
CMU.L vs. TDIV.AS — Risk / Return Rank
CMU.L
TDIV.AS
CMU.L vs. TDIV.AS - 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 VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.AS). 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 | TDIV.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.54 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 5.88 | -3.60 |
| Martin ratioReturn relative to average drawdown | 8.43 | 18.58 | -10.16 |
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Drawdowns
CMU.L vs. TDIV.AS - Drawdown Comparison
The maximum CMU.L drawdown since its inception was -31.46%, roughly equal to the maximum TDIV.AS drawdown of -30.10%. Use the drawdown chart below to compare losses from any high point for CMU.L and TDIV.AS.
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Drawdown Indicators
| CMU.L | TDIV.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.46% | -30.10% | -1.36% |
Max Drawdown (1Y)Largest decline over 1 year | -11.43% | -4.84% | -6.59% |
Max Drawdown (3Y)Largest decline over 3 years | -11.95% | -14.03% | +2.08% |
Max Drawdown (5Y)Largest decline over 5 years | -21.11% | -14.03% | -7.08% |
Max Drawdown (10Y)Largest decline over 10 years | -31.41% | -30.10% | -1.31% |
Current DrawdownCurrent decline from peak | -3.81% | -0.31% | -3.50% |
Average DrawdownAverage peak-to-trough decline | -6.61% | -3.58% | -3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 1.54% | +1.55% |
Volatility
CMU.L vs. TDIV.AS - Volatility Comparison
Amundi ETF MSCI EMU ESG Leaders Select (CMU.L) has a higher volatility of 3.79% compared to VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.AS) at 2.62%. This indicates that CMU.L's price experiences larger fluctuations and is considered to be riskier than TDIV.AS 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 | TDIV.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.79% | 2.62% | +1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 12.80% | 7.25% | +5.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.08% | 9.31% | +5.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.99% | 12.95% | +3.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.68% | 14.47% | +2.21% |
CMU.L vs. TDIV.AS - Expense Ratio Comparison
CMU.L has a 0.15% expense ratio, which is lower than TDIV.AS's 0.38% expense ratio.
Dividends
CMU.L vs. TDIV.AS - Dividend Comparison
CMU.L has not paid dividends to shareholders, while TDIV.AS's dividend yield for the trailing twelve months is around 3.06%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
TDIV.AS VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF | 3.06% | 3.58% | 4.19% | 4.98% | 4.58% | 3.98% | 4.12% | 4.40% | 4.93% | 3.95% | 1.11% |
Frequently Asked Questions
CMU.L and TDIV.AS have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
CMU.L is cheaper with a 0.15% expense ratio, compared with 0.38% for TDIV.AS.
CMU.L is categorized as Europe Equities, while TDIV.AS is Global Equity Income. CMU.L tracks MSCI EMU NR EUR, while TDIV.AS tracks Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. They also come from different issuers: Amundi and VanEck. Their fees differ too: 0.15% for CMU.L and 0.38% for TDIV.AS.
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