CSH.PA vs. EZA
CSH.PA (Amundi EUR Overnight Return UCITS ETF Acc) and EZA (iShares MSCI South Africa ETF) are both exchange-traded funds - CSH.PA is a Money Market fund tracking the Solactive Euro Overnight Return Index, while EZA is a Emerging Markets Equities fund tracking the MSCI South Africa Index. Both are passively managed. Over the past 10 years, CSH.PA returned 0.92%/yr vs 7.14%/yr for EZA. At a correlation of -0.00, they often move in opposite directions. CSH.PA charges 0.10%/yr vs 0.59%/yr for EZA.
Performance
CSH.PA vs. EZA - Performance Comparison
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Different Trading Currencies
CSH.PA is traded in EUR, while EZA is traded in USD. To make them comparable, the EZA values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, CSH.PA achieves a 0.78% return, which is significantly higher than EZA's -0.49% return. Over the past 10 years, CSH.PA has underperformed EZA with an annualized return of 0.92%, while EZA has yielded a comparatively higher 7.14% annualized return.
CSH.PA
- 1D
- 0.01%
- 1M
- 0.18%
- YTD
- 0.78%
- 6M
- 0.98%
- 1Y
- 1.99%
- 3Y*
- 2.96%
- 5Y*
- 1.89%
- 10Y*
- 0.92%
EZA
- 1D
- 0.83%
- 1M
- 0.56%
- YTD
- -0.49%
- 6M
- 6.76%
- 1Y
- 32.86%
- 3Y*
- 23.31%
- 5Y*
- 10.00%
- 10Y*
- 7.14%
CSH.PA vs. EZA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSH.PA Amundi EUR Overnight Return UCITS ETF Acc | 0.78% | 2.25% | 3.69% | 3.22% | -0.06% | -0.65% | 1.93% | -0.61% | -0.55% | -0.45% |
EZA iShares MSCI South Africa ETF | -0.49% | 54.41% | 14.23% | -1.54% | 0.70% | 15.98% | -13.00% | 12.31% | -21.73% | 19.31% |
Correlation
The correlation between CSH.PA and EZA is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2008 | -0.00 |
The correlation between CSH.PA and EZA shifts across timeframes, from -0.13 (1 year) to 0.01 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
CSH.PA vs. EZA — Risk / Return Rank
CSH.PA
EZA
CSH.PA vs. EZA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA) and iShares MSCI South Africa ETF (EZA). 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.
| CSH.PA | EZA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.81 | ||
| Sortino ratioReturn per unit of downside risk | +4.99 | ||
| Omega ratioGain probability vs. loss probability | 1.96 | 1.21 | +0.75 |
| Calmar ratioReturn relative to maximum drawdown | 11.24 | 1.53 | +9.72 |
| Martin ratioReturn relative to average drawdown | 57.34 | 4.31 | +53.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CSH.PA | EZA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.96 | 1.15 | +2.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 5.28 | 0.39 | +4.90 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.41 | 0.24 | +1.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.18 | +0.61 |
Drawdowns
CSH.PA vs. EZA - Drawdown Comparison
The maximum CSH.PA drawdown since its inception was -3.73%, smaller than the maximum EZA drawdown of -59.54%. Use the drawdown chart below to compare losses from any high point for CSH.PA and EZA.
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Drawdown Indicators
| CSH.PA | EZA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.73% | -59.54% | +55.81% |
Max Drawdown (1Y)Largest decline over 1 year | -0.18% | -21.63% | +21.45% |
Max Drawdown (3Y)Largest decline over 3 years | -0.18% | -21.63% | +21.45% |
Max Drawdown (5Y)Largest decline over 5 years | -0.77% | -30.47% | +29.70% |
Max Drawdown (10Y)Largest decline over 10 years | -2.27% | -56.33% | +54.06% |
Current DrawdownCurrent decline from peak | 0.00% | -15.56% | +15.56% |
Average DrawdownAverage peak-to-trough decline | -1.04% | -16.69% | +15.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.03% | 7.65% | -7.62% |
Volatility
CSH.PA vs. EZA - Volatility Comparison
The current volatility for Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA) is 0.09%, while iShares MSCI South Africa ETF (EZA) has a volatility of 9.59%. This indicates that CSH.PA experiences smaller price fluctuations and is considered to be less risky than EZA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSH.PA | EZA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.09% | 9.59% | -9.50% |
Volatility (6M)Calculated over the trailing 6-month period | 0.41% | 24.01% | -23.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.50% | 28.69% | -28.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.35% | 26.00% | -25.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.64% | 29.56% | -28.92% |
CSH.PA vs. EZA - Expense Ratio Comparison
CSH.PA has a 0.10% expense ratio, which is lower than EZA's 0.59% expense ratio.
Dividends
CSH.PA vs. EZA - Dividend Comparison
CSH.PA has not paid dividends to shareholders, while EZA's dividend yield for the trailing twelve months is around 6.26%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSH.PA Amundi EUR Overnight Return UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.05% | 0.05% | 2.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EZA iShares MSCI South Africa ETF | 6.26% | 6.16% | 7.26% | 2.84% | 3.90% | 2.05% | 5.51% | 12.27% | 3.81% | 1.55% | 4.10% | 3.03% |
Frequently Asked Questions
CSH.PA and EZA have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSH.PA is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSH.PA is cheaper with a 0.10% expense ratio, compared with 0.59% for EZA.
CSH.PA is categorized as Money Market, while EZA is Emerging Markets Equities. CSH.PA tracks Solactive Euro Overnight Return Index, while EZA tracks MSCI South Africa Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.10% for CSH.PA and 0.59% for EZA.
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