CU2G.L vs. XAAG.DE
CU2G.L (Amundi MSCI USA UCITS USD) and XAAG.DE (Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc) are both exchange-traded funds - CU2G.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while XAAG.DE is a Commodities fund tracking the Bloomberg Commodity ex-Agriculture and Livestock. Both are passively managed. Over the past 5 years, CU2G.L returned 12.49%/yr vs 11.96%/yr for XAAG.DE. At a 0.18 correlation, their price movements are largely independent. CU2G.L charges 0.18%/yr vs 0.19%/yr for XAAG.DE.
Performance
CU2G.L vs. XAAG.DE - Performance Comparison
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Different Trading Currencies
CU2G.L is traded in GBp, while XAAG.DE is traded in EUR. To make them comparable, the XAAG.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with CU2G.L having a 13.45% return and XAAG.DE slightly higher at 14.05%.
CU2G.L
- 1D
- 1.05%
- 1M
- 2.87%
- YTD
- 13.45%
- 6M
- 13.48%
- 1Y
- 29.43%
- 3Y*
- 17.55%
- 5Y*
- 12.49%
- 10Y*
- 15.63%
XAAG.DE
- 1D
- 0.70%
- 1M
- -9.41%
- YTD
- 14.05%
- 6M
- 17.03%
- 1Y
- 34.73%
- 3Y*
- 14.48%
- 5Y*
- 11.96%
- 10Y*
- —
CU2G.L vs. XAAG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CU2G.L Amundi MSCI USA UCITS USD | 13.45% | 6.37% | 21.31% | 20.11% | -10.63% | 29.15% | 16.42% | 26.58% | 6.27% | 12.67% |
XAAG.DE Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc | 14.05% | 17.96% | 9.84% | -16.46% | 30.13% | 29.91% | -14.92% | 7.09% | -3.78% | -6.00% |
Correlation
The correlation between CU2G.L and XAAG.DE is -0.04, 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 | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since May 23, 2017 | 0.18 |
The correlation between CU2G.L and XAAG.DE shifts across timeframes, from -0.04 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CU2G.L vs. XAAG.DE — Risk / Return Rank
CU2G.L
XAAG.DE
CU2G.L vs. XAAG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI USA UCITS USD (CU2G.L) and Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc (XAAG.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.
| CU2G.L | XAAG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.81 | ||
| Sortino ratioReturn per unit of downside risk | +1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.30 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.96 | 2.67 | +0.30 |
| Martin ratioReturn relative to average drawdown | 10.41 | 8.79 | +1.62 |
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Drawdowns
CU2G.L vs. XAAG.DE - Drawdown Comparison
The maximum CU2G.L drawdown since its inception was -25.96%, smaller than the maximum XAAG.DE drawdown of -33.49%. Use the drawdown chart below to compare losses from any high point for CU2G.L and XAAG.DE.
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Drawdown Indicators
| CU2G.L | XAAG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.96% | -33.49% | +7.53% |
Max Drawdown (1Y)Largest decline over 1 year | -9.93% | -12.95% | +3.02% |
Max Drawdown (3Y)Largest decline over 3 years | -21.81% | -16.23% | -5.58% |
Max Drawdown (5Y)Largest decline over 5 years | -21.81% | -33.49% | +11.68% |
Max Drawdown (10Y)Largest decline over 10 years | -25.96% | — | — |
Current DrawdownCurrent decline from peak | -0.51% | -12.34% | +11.83% |
Average DrawdownAverage peak-to-trough decline | -4.09% | -14.50% | +10.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.83% | 3.94% | -1.11% |
Volatility
CU2G.L vs. XAAG.DE - Volatility Comparison
The current volatility for Amundi MSCI USA UCITS USD (CU2G.L) is 4.01%, while Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc (XAAG.DE) has a volatility of 4.33%. This indicates that CU2G.L experiences smaller price fluctuations and is considered to be less risky than XAAG.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 | XAAG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.01% | 4.33% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 9.05% | 18.92% | -9.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.08% | 21.29% | -9.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.58% | 19.98% | +4.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.59% | 19.35% | +1.24% |
CU2G.L vs. XAAG.DE - Expense Ratio Comparison
CU2G.L has a 0.18% expense ratio, which is lower than XAAG.DE's 0.19% 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
CU2G.L vs. XAAG.DE - Dividend Comparison
Neither CU2G.L nor XAAG.DE has paid dividends to shareholders.
Frequently Asked Questions
CU2G.L and XAAG.DE have a correlation of -0.04, 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 0.19% for XAAG.DE.
CU2G.L is categorized as Large Cap Blend Equities, while XAAG.DE is Commodities. CU2G.L tracks Russell 1000 TR USD, while XAAG.DE tracks Bloomberg Commodity ex-Agriculture and Livestock. They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.18% for CU2G.L and 0.19% for XAAG.DE.
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