CSH2.L vs. XEC1.DE
CSH2.L (Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc) and XEC1.DE (Xtrackers II EUR Corporate Bond UCITS ETF) are both exchange-traded funds - CSH2.L is a Money Market fund tracking the SONIA Compounded (GBP Hedged), while XEC1.DE is a European Corporate Bonds fund tracking the Bloomberg Euro Corporate Bond. Both are passively managed. Over the past 3 years, CSH2.L returned 4.95%/yr vs 3.65%/yr for XEC1.DE. At a 0.06 correlation, their price movements are largely independent. CSH2.L charges 0.10%/yr vs 0.12%/yr for XEC1.DE.
Performance
CSH2.L vs. XEC1.DE - Performance Comparison
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Different Trading Currencies
CSH2.L is traded in GBp, while XEC1.DE is traded in EUR. To make them comparable, the XEC1.DE 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 2.24% return, which is significantly higher than XEC1.DE's -2.12% 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%
XEC1.DE
- 1D
- 0.00%
- 1M
- -2.27%
- 6M
- -2.00%
- YTD
- -2.12%
- 1Y
- -0.59%
- 3Y*
- 3.65%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.69%
CSH2.L vs. XEC1.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CSH2.L Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc | 2.24% | 4.67% | 5.61% | 4.72% | 1.54% | 0.05% |
XEC1.DE Xtrackers II EUR Corporate Bond UCITS ETF | -2.12% | 8.37% | -0.27% | 5.39% | -8.66% | 16.69% |
Correlation
The correlation between CSH2.L and XEC1.DE is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Oct 14, 2021 | 0.06 |
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Return for Risk
CSH2.L vs. XEC1.DE — Risk / Return Rank
CSH2.L
XEC1.DE
CSH2.L vs. XEC1.DE - 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 Xtrackers II EUR Corporate Bond UCITS ETF (XEC1.DE). 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 | XEC1.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +8.96 | ||
| Sortino ratioReturn per unit of downside risk | +16.79 | ||
| Omega ratioGain probability vs. loss probability | 5.37 | 0.98 | +4.38 |
| Calmar ratioReturn relative to maximum drawdown | 27.30 | -0.15 | +27.44 |
| Martin ratioReturn relative to average drawdown | 174.87 | -0.34 | +175.21 |
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Drawdowns
CSH2.L vs. XEC1.DE - Drawdown Comparison
The maximum CSH2.L drawdown since its inception was -0.37%, smaller than the maximum XEC1.DE drawdown of -15.51%. Use the drawdown chart below to compare losses from any high point for CSH2.L and XEC1.DE.
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Drawdown Indicators
| CSH2.L | XEC1.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.37% | -15.51% | +15.14% |
Max Drawdown (1Y)Largest decline over 1 year | -0.16% | -4.06% | +3.90% |
Max Drawdown (3Y)Largest decline over 3 years | -0.29% | -4.06% | +3.77% |
Max Drawdown (5Y)Largest decline over 5 years | -0.29% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -0.37% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.84% | +3.84% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -6.83% | +6.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 1.73% | -1.71% |
Volatility
CSH2.L vs. XEC1.DE - Volatility Comparison
The current volatility for Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc (CSH2.L) is 0.05%, while Xtrackers II EUR Corporate Bond UCITS ETF (XEC1.DE) has a volatility of 1.27%. This indicates that CSH2.L experiences smaller price fluctuations and is considered to be less risky than XEC1.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSH2.L | XEC1.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 1.27% | -1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 0.19% | 3.75% | -3.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.49% | 4.85% | -4.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.56% | 10.52% | -9.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.44% | 10.52% | -10.08% |
CSH2.L vs. XEC1.DE - Expense Ratio Comparison
CSH2.L has a 0.10% expense ratio, which is lower than XEC1.DE's 0.12% 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. XEC1.DE - Dividend Comparison
CSH2.L has not paid dividends to shareholders, while XEC1.DE's dividend yield for the trailing twelve months is around 2.71%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CSH2.L Amundi Smart Overnight Return UCITS ETF GBP Hedged Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XEC1.DE Xtrackers II EUR Corporate Bond UCITS ETF | 2.71% | 2.50% | 2.68% | 1.77% | 1.08% |
Frequently Asked Questions
CSH2.L and XEC1.DE have a correlation of 0.10, 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 0.12% for XEC1.DE.
CSH2.L is categorized as Money Market, while XEC1.DE is European Corporate Bonds. CSH2.L tracks SONIA Compounded (GBP Hedged), while XEC1.DE tracks Bloomberg Euro Corporate Bond. They also come from different issuers: Amundi and Xtrackers. Their fees differ too: 0.10% for CSH2.L and 0.12% for XEC1.DE.
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