CMX1.L vs. ALAU.L
CMX1.L (iShares MSCI Mexico Capped UCITS ETF USD (Acc)) and ALAU.L (Amundi MSCI Em Latin America) are both Latin America Equities funds - CMX1.L tracks the MSCI Mexico Capped Index (Net Return Index) while ALAU.L tracks the MSCI EM Latin America NR USD. Both are passively managed. Over the past 10 years, CMX1.L returned 6.56%/yr vs 6.66%/yr for ALAU.L. A 0.62 correlation means they provide meaningful diversification when combined. CMX1.L charges 0.65%/yr vs 0.10%/yr for ALAU.L.
Performance
CMX1.L vs. ALAU.L - Performance Comparison
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Different Trading Currencies
CMX1.L is traded in GBp, while ALAU.L is traded in USD. To make them comparable, the ALAU.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CMX1.L achieves a 10.08% return, which is significantly lower than ALAU.L's 12.84% return. Both investments have delivered pretty close results over the past 10 years, with CMX1.L having a 6.56% annualized return and ALAU.L not far ahead at 6.66%.
CMX1.L
- 1D
- -0.10%
- 1M
- -5.39%
- 6M
- 4.32%
- YTD
- 10.08%
- 1Y
- 32.57%
- 3Y*
- 9.55%
- 5Y*
- 13.21%
- 10Y*
- 6.56%
ALAU.L
- 1D
- -1.32%
- 1M
- -1.00%
- 6M
- 7.03%
- YTD
- 12.84%
- 1Y
- 38.69%
- 3Y*
- 11.04%
- 5Y*
- 10.03%
- 10Y*
- 6.66%
CMX1.L vs. ALAU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMX1.L iShares MSCI Mexico Capped UCITS ETF USD (Acc) | 10.08% | 46.33% | -26.86% | 30.17% | 10.63% | 20.72% | -3.47% | 6.36% | -8.97% | 2.96% |
ALAU.L Amundi MSCI Em Latin America | 12.84% | 44.16% | -25.20% | 25.66% | 21.83% | -8.58% | -16.18% | 12.66% | -1.90% | 12.60% |
Correlation
The correlation between CMX1.L and ALAU.L is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since May 11, 2011 | 0.62 |
The correlation between CMX1.L and ALAU.L has been stable across timeframes, ranging from 0.62 to 0.68 - a consistent structural relationship.
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Return for Risk
CMX1.L vs. ALAU.L — Risk / Return Rank
CMX1.L
ALAU.L
CMX1.L vs. ALAU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Mexico Capped UCITS ETF USD (Acc) (CMX1.L) and Amundi MSCI Em Latin America (ALAU.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.
| CMX1.L | ALAU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.34 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 2.85 | -0.38 |
| Martin ratioReturn relative to average drawdown | 8.66 | 7.88 | +0.78 |
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Drawdowns
CMX1.L vs. ALAU.L - Drawdown Comparison
The maximum CMX1.L drawdown since its inception was -98.52%, which is greater than ALAU.L's maximum drawdown of -56.47%. Use the drawdown chart below to compare losses from any high point for CMX1.L and ALAU.L.
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Drawdown Indicators
| CMX1.L | ALAU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.52% | -56.47% | -42.05% |
Max Drawdown (1Y)Largest decline over 1 year | -13.03% | -13.50% | +0.47% |
Max Drawdown (3Y)Largest decline over 3 years | -35.93% | -25.83% | -10.10% |
Max Drawdown (5Y)Largest decline over 5 years | -35.93% | -25.83% | -10.10% |
Max Drawdown (10Y)Largest decline over 10 years | -50.58% | -49.14% | -1.44% |
Current DrawdownCurrent decline from peak | -6.25% | -9.06% | +2.81% |
Average DrawdownAverage peak-to-trough decline | -15.85% | -18.70% | +2.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.72% | 4.90% | -1.18% |
Volatility
CMX1.L vs. ALAU.L - Volatility Comparison
iShares MSCI Mexico Capped UCITS ETF USD (Acc) (CMX1.L) and Amundi MSCI Em Latin America (ALAU.L) have volatilities of 5.90% and 5.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMX1.L | ALAU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 5.99% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 16.92% | 16.21% | +0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.19% | 19.66% | +0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.25% | 21.67% | +3.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.83% | 25.54% | +0.29% |
CMX1.L vs. ALAU.L - Expense Ratio Comparison
CMX1.L has a 0.65% expense ratio, which is higher than ALAU.L's 0.10% expense ratio.
Dividends
CMX1.L vs. ALAU.L - Dividend Comparison
Neither CMX1.L nor ALAU.L has paid dividends to shareholders.
Frequently Asked Questions
CMX1.L and ALAU.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ALAU.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ALAU.L is cheaper with a 0.10% expense ratio, compared with 0.65% for CMX1.L.
CMX1.L tracks MSCI Mexico Capped Index (Net Return Index), while ALAU.L tracks MSCI EM Latin America NR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.65% for CMX1.L and 0.10% for ALAU.L.
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