CU2G.L vs. EN4C.DE
CU2G.L (Amundi MSCI USA UCITS USD) and EN4C.DE (L&G Multi-Strategy Enhanced Commodities UCITS ETF) are both exchange-traded funds - CU2G.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while EN4C.DE is a Commodities fund tracking the Barclays Backwardation Tilt Multi-Strategy Capped. Both are passively managed. Over the past 3 years, CU2G.L returned 16.81%/yr vs 9.86%/yr for EN4C.DE. At a 0.10 correlation, their price movements are largely independent. CU2G.L charges 0.18%/yr vs 0.30%/yr for EN4C.DE.
Performance
CU2G.L vs. EN4C.DE - Performance Comparison
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Different Trading Currencies
CU2G.L is traded in GBp, while EN4C.DE is traded in EUR. To make them comparable, the EN4C.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CU2G.L achieves a 12.62% return, which is significantly lower than EN4C.DE's 23.46% return.
CU2G.L
- 1D
- 0.42%
- 1M
- 7.90%
- YTD
- 12.62%
- 6M
- 13.09%
- 1Y
- 29.11%
- 3Y*
- 16.81%
- 5Y*
- 13.15%
- 10Y*
- 15.30%
EN4C.DE
- 1D
- -1.45%
- 1M
- -2.17%
- YTD
- 23.46%
- 6M
- 22.38%
- 1Y
- 34.02%
- 3Y*
- 9.86%
- 5Y*
- —
- 10Y*
- —
CU2G.L vs. EN4C.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CU2G.L Amundi MSCI USA UCITS USD | 12.62% | 6.37% | 21.31% | 20.11% | -10.63% | 8.49% |
EN4C.DE L&G Multi-Strategy Enhanced Commodities UCITS ETF | 23.46% | 1.91% | 5.14% | -7.51% | 36.94% | 8.02% |
Correlation
The correlation between CU2G.L and EN4C.DE 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 | 0.07 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021 | 0.10 |
The correlation between CU2G.L and EN4C.DE shifts across timeframes, from -0.13 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CU2G.L vs. EN4C.DE — Risk / Return Rank
CU2G.L
EN4C.DE
CU2G.L vs. EN4C.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI USA UCITS USD (CU2G.L) and L&G Multi-Strategy Enhanced Commodities UCITS ETF (EN4C.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.
| CU2G.L | EN4C.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.34 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 4.09 | -1.18 |
| Martin ratioReturn relative to average drawdown | 10.54 | 11.00 | -0.46 |
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
| CU2G.L | EN4C.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.47 | 1.89 | +0.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.98 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.01 | 0.75 | +0.26 |
Drawdowns
CU2G.L vs. EN4C.DE - Drawdown Comparison
The maximum CU2G.L drawdown since its inception was -25.96%, roughly equal to the maximum EN4C.DE drawdown of -26.42%. Use the drawdown chart below to compare losses from any high point for CU2G.L and EN4C.DE.
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Drawdown Indicators
| CU2G.L | EN4C.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.96% | -26.42% | +0.46% |
Max Drawdown (1Y)Largest decline over 1 year | -9.93% | -8.27% | -1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -21.81% | -17.13% | -4.68% |
Max Drawdown (5Y)Largest decline over 5 years | -21.81% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -25.96% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -4.10% | +4.10% |
Average DrawdownAverage peak-to-trough decline | -3.66% | -13.52% | +9.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 3.08% | -0.32% |
Volatility
CU2G.L vs. EN4C.DE - Volatility Comparison
The current volatility for Amundi MSCI USA UCITS USD (CU2G.L) is 3.20%, while L&G Multi-Strategy Enhanced Commodities UCITS ETF (EN4C.DE) has a volatility of 5.90%. This indicates that CU2G.L experiences smaller price fluctuations and is considered to be less risky than EN4C.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CU2G.L | EN4C.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.20% | 5.90% | -2.70% |
Volatility (6M)Calculated over the trailing 6-month period | 8.39% | 14.53% | -6.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.71% | 17.90% | -6.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.57% | 17.80% | -3.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.75% | 17.80% | -2.05% |
CU2G.L vs. EN4C.DE - Expense Ratio Comparison
CU2G.L has a 0.18% expense ratio, which is lower than EN4C.DE's 0.30% expense ratio.
Dividends
CU2G.L vs. EN4C.DE - Dividend Comparison
Neither CU2G.L nor EN4C.DE has paid dividends to shareholders.
Frequently Asked Questions
CU2G.L and EN4C.DE 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, CU2G.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CU2G.L is cheaper with a 0.18% expense ratio, compared with 0.30% for EN4C.DE.
CU2G.L is categorized as Large Cap Blend Equities, while EN4C.DE is Commodities. CU2G.L tracks Russell 1000 TR USD, while EN4C.DE tracks Barclays Backwardation Tilt Multi-Strategy Capped. They also come from different issuers: Amundi and Legal & General. Their fees differ too: 0.18% for CU2G.L and 0.30% for EN4C.DE.
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