CSH.PA vs. JRZE.L

Last updated Jun 5, 2026

CSH.PA (Amundi EUR Overnight Return UCITS ETF Acc) and JRZE.L (JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc)) are both exchange-traded funds - CSH.PA is a Money Market fund tracking the Solactive Euro Overnight Return Index, while JRZE.L is a Europe Equities fund tracking the MSCI EMU NR EUR. Both are passively managed. Over the past 3 years, CSH.PA returned 2.96%/yr vs 15.01%/yr for JRZE.L. At a 0.01 correlation, their price movements are largely independent. CSH.PA charges 0.10%/yr vs 0.25%/yr for JRZE.L.

Performance

CSH.PA vs. JRZE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA) and JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc) (JRZE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CSH.PA is traded in EUR, while JRZE.L is traded in GBp. To make them comparable, the JRZE.L 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 lower than JRZE.L's 8.93% return.

CSH.PA

• 1D: 0.01%
• 1M: 0.14%
• YTD: 0.78%
• 6M: 0.94%
• 1Y: 1.88%
• 3Y*: 2.96%
• 5Y*: 1.89%
• 10Y*: 0.92%

JRZE.L

• 1D: 0.00%
• 1M: 4.00%
• YTD: 8.93%
• 6M: 10.37%
• 1Y: 18.35%
• 3Y*: 15.01%
• 5Y*: —
• 10Y*: —

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

CSH.PA vs. JRZE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CSH.PA Amundi EUR Overnight Return UCITS ETF Acc	0.78%	2.25%	3.69%	3.22%	0.14%
JRZE.L JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc)	8.93%	23.16%	8.33%	20.32%	-14.03%

Correlation

The correlation between CSH.PA and JRZE.L is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (All Time) Calculated using the full available price history since Apr 26, 2022	0.01

Return for Risk

CSH.PA vs. JRZE.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CSH.PA

CSH.PA Risk / Return Rank: 97
CSH.PA Sharpe Ratio Rank: 96
CSH.PA Sortino Ratio Rank: 97
CSH.PA Omega Ratio Rank: 97
CSH.PA Calmar Ratio Rank: 97
CSH.PA Martin Ratio Rank: 98

JRZE.L

JRZE.L Risk / Return Rank: 43
JRZE.L Sharpe Ratio Rank: 44
JRZE.L Sortino Ratio Rank: 44
JRZE.L Omega Ratio Rank: 44
JRZE.L Calmar Ratio Rank: 41
JRZE.L Martin Ratio Rank: 44

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.

CSH.PA vs. JRZE.L - 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 JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc) (JRZE.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.

	CSH.PA	JRZE.L	Difference
Sharpe ratio: Return per unit of total volatility	3.96	1.25	+2.71
Sortino ratio: Return per unit of downside risk	6.62	1.88	+4.74
Omega ratio: Gain probability vs. loss probability	1.96	1.23	+0.73
Calmar ratio: Return relative to maximum drawdown	11.24	1.80	+9.45
Martin ratio: Return relative to average drawdown	57.34	6.56	+50.78

CSH.PA vs. JRZE.L - Sharpe Ratio Comparison

The current CSH.PA Sharpe Ratio is 3.96, which is higher than the JRZE.L Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of CSH.PA and JRZE.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

CSH.PA vs. JRZE.L - Drawdown Comparison

The maximum CSH.PA drawdown since its inception was -3.73%, smaller than the maximum JRZE.L drawdown of -27.24%. Use the drawdown chart below to compare losses from any high point for CSH.PA and JRZE.L.

Drawdown Indicators

	CSH.PA	JRZE.L	Difference
Max Drawdown Largest peak-to-trough decline	-3.73%	-27.24%	+23.51%
Max Drawdown (1Y) Largest decline over 1 year	-0.18%	-10.27%	+10.09%
Max Drawdown (3Y) Largest decline over 3 years	-0.18%	-14.85%	+14.67%
Max Drawdown (5Y) Largest decline over 5 years	-0.75%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-2.26%	—	—
Current Drawdown Current decline from peak	0.00%	-0.32%	+0.32%
Average Drawdown Average peak-to-trough decline	-1.04%	-5.98%	+4.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	2.82%	-2.79%

Volatility

CSH.PA vs. JRZE.L - Volatility Comparison

The current volatility for Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA) is 0.09%, while JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc) (JRZE.L) has a volatility of 3.34%. This indicates that CSH.PA experiences smaller price fluctuations and is considered to be less risky than JRZE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSH.PA	JRZE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.09%	3.34%	-3.25%
Volatility (6M) Calculated over the trailing 6-month period	0.41%	11.80%	-11.39%
Volatility (1Y) Calculated over the trailing 1-year period	0.50%	14.75%	-14.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.35%	17.63%	-17.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.64%	17.63%	-16.99%

CSH.PA vs. JRZE.L - Expense Ratio Comparison

CSH.PA has a 0.10% expense ratio, which is lower than JRZE.L's 0.25% 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

CSH.PA vs. JRZE.L - Dividend Comparison

Neither CSH.PA nor JRZE.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
CSH.PA Amundi EUR Overnight Return UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.05%	0.05%	2.60%
JRZE.L JPMorgan Eurozone Research Enhanced Index Equity (ESG) UCITS ETF EUR (acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CSH.PA and JRZE.L in my portfolio?

CSH.PA and JRZE.L have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CSH.PA or JRZE.L?

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.

Which ETF is cheaper, CSH.PA or JRZE.L?

CSH.PA is cheaper with a 0.10% expense ratio, compared with 0.25% for JRZE.L.

What is the main difference between CSH.PA and JRZE.L?

CSH.PA is categorized as Money Market, while JRZE.L is Europe Equities. CSH.PA tracks Solactive Euro Overnight Return Index, while JRZE.L tracks MSCI EMU NR EUR. They also come from different issuers: Amundi and JPMorgan. Their fees differ too: 0.10% for CSH.PA and 0.25% for JRZE.L.