CSH2.L vs. NRJL.L

Last updated Jun 26, 2026

CSH2.L (Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc) and NRJL.L (Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist) are both exchange-traded funds - CSH2.L is a Money Market fund tracking the SONIA Compounded (GBP Hedged), while NRJL.L is a Energy Equities fund tracking the S&P Global Clean Energy TR USD. Both are passively managed. Over the past 10 years, CSH2.L returned 2.09%/yr vs 10.35%/yr for NRJL.L. At a correlation of -0.06, they often move in opposite directions. CSH2.L charges 0.10%/yr vs 0.60%/yr for NRJL.L.

Performance

CSH2.L vs. NRJL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L) and Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist (NRJL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CSH2.L is traded in GBp, while NRJL.L is traded in GBP. To make them comparable, the NRJL.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, CSH2.L achieves a 1.98% return, which is significantly lower than NRJL.L's 37.46% return. Over the past 10 years, CSH2.L has underperformed NRJL.L with an annualized return of 2.09%, while NRJL.L has yielded a comparatively higher 10.35% annualized return.

CSH2.L

• 1D: 0.03%
• 1M: 0.36%
• YTD: 1.98%
• 6M: 2.11%
• 1Y: 4.39%
• 3Y*: 4.99%
• 5Y*: 3.71%
• 10Y*: 2.09%

NRJL.L

• 1D: -0.17%
• 1M: -1.70%
• YTD: 37.46%
• 6M: 37.08%
• 1Y: 80.61%
• 3Y*: 11.67%
• 5Y*: 3.03%
• 10Y*: 10.35%

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

CSH2.L vs. NRJL.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	1.98%	4.67%	5.61%	4.72%	1.54%	0.13%	0.30%	0.82%	0.70%	0.42%
NRJL.L Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist	37.46%	35.47%	-11.56%	-22.87%	-8.74%	-5.40%	33.09%	47.31%	-7.75%	15.17%

Correlation

The correlation between CSH2.L and NRJL.L is -0.07, 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	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	-0.08
Correlation (5Y) Calculated over the trailing 5-year period	-0.07
Correlation (10Y) Calculated over the trailing 10-year period	-0.06
Correlation (All Time) Calculated using the full available price history since May 29, 2015	-0.06

Return for Risk

CSH2.L vs. NRJL.L — Risk / Return Rank

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

CSH2.L

CSH2.L Risk / Return Rank: 99
CSH2.L Sharpe Ratio Rank: 99
CSH2.L Sortino Ratio Rank: 99
CSH2.L Omega Ratio Rank: 99
CSH2.L Calmar Ratio Rank: 99
CSH2.L Martin Ratio Rank: 99

NRJL.L

NRJL.L Risk / Return Rank: 96
NRJL.L Sharpe Ratio Rank: 97
NRJL.L Sortino Ratio Rank: 95
NRJL.L Omega Ratio Rank: 95
NRJL.L Calmar Ratio Rank: 96
NRJL.L Martin Ratio Rank: 96

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.

CSH2.L vs. NRJL.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 Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist (NRJL.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	NRJL.L	Difference
Sharpe ratio: Return per unit of total volatility	8.26	3.84	+4.43
Sortino ratio: Return per unit of downside risk	15.47	4.44	+11.03
Omega ratio: Gain probability vs. loss probability	4.62	1.63	+2.99
Calmar ratio: Return relative to maximum drawdown	27.76	8.08	+19.68
Martin ratio: Return relative to average drawdown	163.08	29.67	+133.41

CSH2.L vs. NRJL.L - Sharpe Ratio Comparison

The current CSH2.L Sharpe Ratio is 8.26, which is higher than the NRJL.L Sharpe Ratio of 3.84. The chart below compares the historical Sharpe Ratios of CSH2.L and NRJL.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

CSH2.L vs. NRJL.L - Drawdown Comparison

The maximum CSH2.L drawdown since its inception was -0.37%, smaller than the maximum NRJL.L drawdown of -54.56%. Use the drawdown chart below to compare losses from any high point for CSH2.L and NRJL.L.

Drawdown Indicators

	CSH2.L	NRJL.L	Difference
Max Drawdown Largest peak-to-trough decline	-0.37%	-54.56%	+54.19%
Max Drawdown (1Y) Largest decline over 1 year	-0.16%	-9.93%	+9.77%
Max Drawdown (3Y) Largest decline over 3 years	-0.29%	-39.16%	+38.87%
Max Drawdown (5Y) Largest decline over 5 years	-0.29%	-54.10%	+53.81%
Max Drawdown (10Y) Largest decline over 10 years	-0.37%	-54.56%	+54.19%
Current Drawdown Current decline from peak	0.00%	-3.92%	+3.92%
Average Drawdown Average peak-to-trough decline	-0.00%	-23.12%	+23.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	2.71%	-2.68%

Volatility

CSH2.L vs. NRJL.L - Volatility Comparison

The current volatility for Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L) is 0.06%, while Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist (NRJL.L) has a volatility of 9.15%. This indicates that CSH2.L experiences smaller price fluctuations and is considered to be less risky than NRJL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CSH2.L	NRJL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	9.15%	-9.09%
Volatility (6M) Calculated over the trailing 6-month period	0.23%	17.15%	-16.92%
Volatility (1Y) Calculated over the trailing 1-year period	0.53%	20.91%	-20.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.56%	21.91%	-21.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.44%	21.33%	-20.89%

CSH2.L vs. NRJL.L - Expense Ratio Comparison

CSH2.L has a 0.10% expense ratio, which is lower than NRJL.L's 0.60% expense ratio.

Dividends

CSH2.L vs. NRJL.L - Dividend Comparison

CSH2.L has not paid dividends to shareholders, while NRJL.L's dividend yield for the trailing twelve months is around 0.31%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CSH2.L Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NRJL.L Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist	0.31%	0.42%	0.73%	0.77%	0.24%	0.32%	0.70%	1.02%	0.59%	0.79%

Frequently Asked Questions

Can I hold both CSH2.L and NRJL.L in my portfolio?

CSH2.L and NRJL.L have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CSH2.L or NRJL.L?

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.

Which ETF is cheaper, CSH2.L or NRJL.L?

CSH2.L is cheaper with a 0.10% expense ratio, compared with 0.60% for NRJL.L.

What is the main difference between CSH2.L and NRJL.L?

CSH2.L is categorized as Money Market, while NRJL.L is Energy Equities. CSH2.L tracks SONIA Compounded (GBP Hedged), while NRJL.L tracks S&P Global Clean Energy TR USD. Their fees differ too: 0.10% for CSH2.L and 0.60% for NRJL.L.