EMNU.DE vs. 18M2.DE
EMNU.DE (iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist)) and 18M2.DE (Amundi ETF MSCI EMU High Dividend UCITS ETF EUR) are both Europe Equities funds - EMNU.DE tracks the MSCI Europe ESG Enhanced Focus while 18M2.DE tracks the MSCI EMU High Dividend Yield. Both are passively managed. Over the past 5 years, EMNU.DE returned 8.68%/yr vs 8.90%/yr for 18M2.DE. Their correlation of 0.86 suggests significant overlap in exposure. EMNU.DE charges 0.12%/yr vs 0.30%/yr for 18M2.DE.
Performance
EMNU.DE vs. 18M2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EMNU.DE achieves a 7.48% return, which is significantly higher than 18M2.DE's 6.76% return.
EMNU.DE
- 1D
- 0.54%
- 1M
- 3.45%
- YTD
- 7.48%
- 6M
- 10.07%
- 1Y
- 15.83%
- 3Y*
- 12.86%
- 5Y*
- 8.68%
- 10Y*
- —
18M2.DE
- 1D
- 0.32%
- 1M
- 1.10%
- YTD
- 6.76%
- 6M
- 8.84%
- 1Y
- 15.86%
- 3Y*
- 12.13%
- 5Y*
- 8.90%
- 10Y*
- 8.26%
EMNU.DE vs. 18M2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMNU.DE iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) | 7.48% | 17.95% | 7.97% | 15.57% | -12.29% | 25.49% | -1.40% | 11.32% |
18M2.DE Amundi ETF MSCI EMU High Dividend UCITS ETF EUR | 6.76% | 21.49% | 3.36% | 16.14% | -6.47% | 16.02% | -6.39% | 10.78% |
Correlation
The correlation between EMNU.DE and 18M2.DE is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since May 8, 2019 | 0.86 |
The correlation between EMNU.DE and 18M2.DE has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.
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Return for Risk
EMNU.DE vs. 18M2.DE — Risk / Return Rank
EMNU.DE
18M2.DE
EMNU.DE vs. 18M2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EMNU.DE) and Amundi ETF MSCI EMU High Dividend UCITS ETF EUR (18M2.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.
| EMNU.DE | 18M2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.28 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 2.55 | -0.97 |
| Martin ratioReturn relative to average drawdown | 5.60 | 6.71 | -1.11 |
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
| EMNU.DE | 18M2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 1.49 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.66 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.53 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.44 | +0.13 |
Drawdowns
EMNU.DE vs. 18M2.DE - Drawdown Comparison
The maximum EMNU.DE drawdown since its inception was -34.85%, smaller than the maximum 18M2.DE drawdown of -37.06%. Use the drawdown chart below to compare losses from any high point for EMNU.DE and 18M2.DE.
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Drawdown Indicators
| EMNU.DE | 18M2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.85% | -37.06% | +2.21% |
Max Drawdown (1Y)Largest decline over 1 year | -10.00% | -6.19% | -3.81% |
Max Drawdown (3Y)Largest decline over 3 years | -16.42% | -14.68% | -1.74% |
Max Drawdown (5Y)Largest decline over 5 years | -21.72% | -20.81% | -0.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.06% | — |
Current DrawdownCurrent decline from peak | -1.59% | -1.44% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -5.31% | -6.42% | +1.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 2.36% | +0.46% |
Volatility
EMNU.DE vs. 18M2.DE - Volatility Comparison
iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EMNU.DE) has a higher volatility of 4.34% compared to Amundi ETF MSCI EMU High Dividend UCITS ETF EUR (18M2.DE) at 2.63%. This indicates that EMNU.DE's price experiences larger fluctuations and is considered to be riskier than 18M2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMNU.DE | 18M2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 2.63% | +1.71% |
Volatility (6M)Calculated over the trailing 6-month period | 10.77% | 8.33% | +2.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.16% | 10.62% | +2.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.40% | 13.41% | +0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.59% | 15.44% | +1.15% |
EMNU.DE vs. 18M2.DE - Expense Ratio Comparison
EMNU.DE has a 0.12% expense ratio, which is lower than 18M2.DE's 0.30% expense ratio.
Dividends
EMNU.DE vs. 18M2.DE - Dividend Comparison
EMNU.DE's dividend yield for the trailing twelve months is around 2.40%, while 18M2.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
18M2.DE Amundi ETF MSCI EMU High Dividend UCITS ETF EUR | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EMNU.DE iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) | 2.40% | 2.58% | 2.92% | 2.80% | 3.02% | 2.25% | 1.90% | 2.63% |
Frequently Asked Questions
EMNU.DE and 18M2.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMNU.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMNU.DE is cheaper with a 0.12% expense ratio, compared with 0.30% for 18M2.DE.
EMNU.DE tracks MSCI Europe ESG Enhanced Focus, while 18M2.DE tracks MSCI EMU High Dividend Yield. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.12% for EMNU.DE and 0.30% for 18M2.DE.
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