CSH2.L vs. CMU.L
CSH2.L (Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc) and CMU.L (Amundi ETF MSCI EMU ESG Leaders Select) are both exchange-traded funds - CSH2.L is a Money Market fund tracking the SONIA Compounded (GBP Hedged), while CMU.L is a Europe Equities fund tracking the MSCI EMU NR EUR. Both are passively managed. Over the past 10 years, CSH2.L returned 2.12%/yr vs 10.12%/yr for CMU.L. At a correlation of -0.02, they often move in opposite directions. CSH2.L charges 0.10%/yr vs 0.15%/yr for CMU.L.
Performance
CSH2.L vs. CMU.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CSH2.L achieves a 2.24% return, which is significantly lower than CMU.L's 15.46% return. Over the past 10 years, CSH2.L has underperformed CMU.L with an annualized return of 2.12%, while CMU.L has yielded a comparatively higher 10.12% annualized return.
CSH2.L
- 1D
- 0.01%
- 1M
- 0.32%
- 6M
- 2.07%
- YTD
- 2.24%
- 1Y
- 4.32%
- 3Y*
- 4.95%
- 5Y*
- 3.76%
- 10Y*
- 2.12%
- ALL TIME*
- 1.98%
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%
CSH2.L vs. CMU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSH2.L Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc | 2.24% | 4.67% | 5.61% | 4.72% | 1.54% | 0.13% | 0.30% | 0.82% | 0.70% | 0.42% |
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% |
Correlation
The correlation between CSH2.L and CMU.L is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since May 29, 2015 | -0.02 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CSH2.L vs. CMU.L — Risk / Return Rank
CSH2.L
CMU.L
CSH2.L vs. CMU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L) and Amundi ETF MSCI EMU ESG Leaders Select (CMU.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.
| CSH2.L | CMU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.11 | ||
| Sortino ratioReturn per unit of downside risk | +14.18 | ||
| Omega ratioGain probability vs. loss probability | 5.37 | 1.32 | +4.05 |
| Calmar ratioReturn relative to maximum drawdown | 27.30 | 2.28 | +25.02 |
| Martin ratioReturn relative to average drawdown | 174.87 | 8.43 | +166.44 |
Loading charts...
Drawdowns
CSH2.L vs. CMU.L - Drawdown Comparison
The maximum CSH2.L drawdown since its inception was -0.37%, smaller than the maximum CMU.L drawdown of -31.46%. Use the drawdown chart below to compare losses from any high point for CSH2.L and CMU.L.
Loading charts...
Drawdown Indicators
| CSH2.L | CMU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.37% | -31.46% | +31.09% |
Max Drawdown (1Y)Largest decline over 1 year | -0.16% | -11.43% | +11.27% |
Max Drawdown (3Y)Largest decline over 3 years | -0.29% | -11.95% | +11.66% |
Max Drawdown (5Y)Largest decline over 5 years | -0.29% | -21.11% | +20.82% |
Max Drawdown (10Y)Largest decline over 10 years | -0.37% | -31.41% | +31.04% |
Current DrawdownCurrent decline from peak | 0.00% | -3.81% | +3.81% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -6.61% | +6.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 3.09% | -3.07% |
Volatility
CSH2.L vs. CMU.L - Volatility Comparison
The current volatility for Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L) is 0.05%, while Amundi ETF MSCI EMU ESG Leaders Select (CMU.L) has a volatility of 3.79%. This indicates that CSH2.L experiences smaller price fluctuations and is considered to be less risky than CMU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CSH2.L | CMU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 3.79% | -3.74% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 12.80% | -12.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.49% | 15.08% | -14.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.56% | 15.99% | -15.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.44% | 16.68% | -16.24% |
CSH2.L vs. CMU.L - Expense Ratio Comparison
CSH2.L has a 0.10% expense ratio, which is lower than CMU.L's 0.15% 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
CSH2.L vs. CMU.L - Dividend Comparison
Neither CSH2.L nor CMU.L has paid dividends to shareholders.
Frequently Asked Questions
CSH2.L and CMU.L have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSH2.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSH2.L is cheaper with a 0.10% expense ratio, compared with 0.15% for CMU.L.
CSH2.L is categorized as Money Market, while CMU.L is Europe Equities. CSH2.L tracks SONIA Compounded (GBP Hedged), while CMU.L tracks MSCI EMU NR EUR. Their fees differ too: 0.10% for CSH2.L and 0.15% for CMU.L.
Find the right allocation for CSH2.L and CMU.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer