DEAM.DE vs. CSH.PA
DEAM.DE (Invesco MDAX UCITS ETF A) and CSH.PA (Amundi EUR Overnight Return UCITS ETF Acc) are both exchange-traded funds - DEAM.DE is a Europe Equities fund tracking the MDAX®, while CSH.PA is a Money Market fund tracking the Solactive Euro Overnight Return Index. Both are passively managed. Over the past 5 years, DEAM.DE returned -1.95%/yr vs 1.94%/yr for CSH.PA. At a correlation of -0.00, they often move in opposite directions. DEAM.DE charges 0.19%/yr vs 0.10%/yr for CSH.PA.
Performance
DEAM.DE vs. CSH.PA - Performance Comparison
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Returns By Period
In the year-to-date period, DEAM.DE achieves a 3.71% return, which is significantly higher than CSH.PA's 1.05% return.
DEAM.DE
- 1D
- 0.06%
- 1M
- -1.89%
- 6M
- -0.55%
- YTD
- 3.71%
- 1Y
- 2.10%
- 3Y*
- 3.87%
- 5Y*
- -1.95%
- 10Y*
- —
CSH.PA
- 1D
- 0.00%
- 1M
- 0.18%
- 6M
- 1.04%
- YTD
- 1.05%
- 1Y
- 1.99%
- 3Y*
- 2.92%
- 5Y*
- 1.94%
- 10Y*
- 0.68%
DEAM.DE vs. CSH.PA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
DEAM.DE Invesco MDAX UCITS ETF A | 3.71% | 19.33% | -6.04% | 7.34% | -28.80% | 13.67% | 8.06% | 20.37% |
CSH.PA Amundi EUR Overnight Return UCITS ETF Acc | 1.05% | 2.25% | 3.69% | 3.22% | -0.11% | -0.70% | -0.69% | -0.53% |
Correlation
The correlation between DEAM.DE and CSH.PA is -0.03, 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 | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2019 | -0.00 |
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Return for Risk
DEAM.DE vs. CSH.PA — Risk / Return Rank
DEAM.DE
CSH.PA
DEAM.DE vs. CSH.PA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MDAX UCITS ETF A (DEAM.DE) and Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA). 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.
| DEAM.DE | CSH.PA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.70 | ||
| Sortino ratioReturn per unit of downside risk | -4.09 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.86 | -0.82 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | 5.77 | -5.62 |
| Martin ratioReturn relative to average drawdown | 0.43 | 34.47 | -34.04 |
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Drawdowns
DEAM.DE vs. CSH.PA - Drawdown Comparison
The maximum DEAM.DE drawdown since its inception was -40.04%, which is greater than CSH.PA's maximum drawdown of -5.07%. Use the drawdown chart below to compare losses from any high point for DEAM.DE and CSH.PA.
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Drawdown Indicators
| DEAM.DE | CSH.PA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.04% | -5.07% | -34.97% |
Max Drawdown (1Y)Largest decline over 1 year | -14.95% | -0.35% | -14.60% |
Max Drawdown (3Y)Largest decline over 3 years | -18.48% | -0.35% | -18.13% |
Max Drawdown (5Y)Largest decline over 5 years | -40.04% | -0.75% | -39.29% |
Max Drawdown (10Y)Largest decline over 10 years | — | -3.57% | — |
Current DrawdownCurrent decline from peak | -13.92% | -0.32% | -13.60% |
Average DrawdownAverage peak-to-trough decline | -16.18% | -1.51% | -14.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.36% | 0.06% | +5.30% |
Volatility
DEAM.DE vs. CSH.PA - Volatility Comparison
Invesco MDAX UCITS ETF A (DEAM.DE) has a higher volatility of 4.94% compared to Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA) at 0.53%. This indicates that DEAM.DE's price experiences larger fluctuations and is considered to be riskier than CSH.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DEAM.DE | CSH.PA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 0.53% | +4.41% |
Volatility (6M)Calculated over the trailing 6-month period | 15.96% | 0.65% | +15.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.83% | 0.71% | +18.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.40% | 0.42% | +18.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.56% | 0.32% | +19.24% |
DEAM.DE vs. CSH.PA - Expense Ratio Comparison
DEAM.DE has a 0.19% expense ratio, which is higher than CSH.PA's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
DEAM.DE vs. CSH.PA - Dividend Comparison
Neither DEAM.DE nor CSH.PA has paid dividends to shareholders.
Frequently Asked Questions
DEAM.DE and CSH.PA have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSH.PA is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSH.PA is cheaper with a 0.10% expense ratio, compared with 0.19% for DEAM.DE.
DEAM.DE is categorized as Europe Equities, while CSH.PA is Money Market. DEAM.DE tracks MDAX®, while CSH.PA tracks Solactive Euro Overnight Return Index. They also come from different issuers: Invesco and Amundi. Their fees differ too: 0.19% for DEAM.DE and 0.10% for CSH.PA.
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