ESRG.L vs. CS1.L

Last updated Jun 5, 2026

ESRG.L (Amundi Index MSCI Europe SRI PAB UCITS ETF DR (C)) and CS1.L (Amundi ETF MSCI Spain UCITS ETF EUR (C)) are both Europe Equities funds from Amundi - ESRG.L tracks the MSCI Europe NR EUR while CS1.L tracks the BME IBEX 35 NR EUR. Both are passively managed. Over the past 5 years, ESRG.L returned 5.55%/yr vs 19.41%/yr for CS1.L. A 0.69 correlation means they provide meaningful diversification when combined. ESRG.L charges 0.18%/yr vs 0.25%/yr for CS1.L.

Performance

ESRG.L vs. CS1.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi Index MSCI Europe SRI PAB UCITS ETF DR (C) (ESRG.L) and Amundi ETF MSCI Spain UCITS ETF EUR (C) (CS1.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ESRG.L achieves a 4.74% return, which is significantly lower than CS1.L's 6.29% return.

ESRG.L

• 1D: -0.67%
• 1M: 3.13%
• YTD: 4.74%
• 6M: 5.87%
• 1Y: 5.78%
• 3Y*: 7.17%
• 5Y*: 5.55%
• 10Y*: —

CS1.L

• 1D: 0.91%
• 1M: 3.97%
• YTD: 6.29%
• 6M: 10.00%
• 1Y: 37.36%
• 3Y*: 30.04%
• 5Y*: 19.41%
• 10Y*: 12.13%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ESRG.L vs. CS1.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ESRG.L Amundi Index MSCI Europe SRI PAB UCITS ETF DR (C)	4.74%	7.52%	3.06%	14.42%	-10.50%	18.74%	8.47%	2.62%
CS1.L Amundi ETF MSCI Spain UCITS ETF EUR (C)	6.29%	62.63%	14.12%	24.14%	4.89%	0.59%	-7.48%	-0.96%

Correlation

The correlation between ESRG.L and CS1.L is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Oct 2, 2019	0.69

The correlation between ESRG.L and CS1.L has been stable across timeframes, ranging from 0.65 to 0.69 - a consistent structural relationship.

ESRG.L vs. CS1.L - Sectors Allocation Comparison

Sectors	ESRG.L	CS1.L
Financial Services	23.1%	40.3%
Industrials	22.2%	15.8%
Healthcare	15.1%	0.7%
Technology	13.9%	3.2%
Consumer Cyclical	6.2%	10.8%
Consumer Defensive	5.9%	0.3%
Basic Materials	5.7%	1.3%
Communication Services	3.3%	2.4%
Utilities	2.8%	19.0%
Real Estate	1.8%	3.3%
Energy	0.0%	2.8%

Return for Risk

ESRG.L vs. CS1.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ESRG.L

ESRG.L Risk / Return Rank: 17
ESRG.L Sharpe Ratio Rank: 17
ESRG.L Sortino Ratio Rank: 17
ESRG.L Omega Ratio Rank: 17
ESRG.L Calmar Ratio Rank: 16
ESRG.L Martin Ratio Rank: 18

CS1.L

CS1.L Risk / Return Rank: 70
CS1.L Sharpe Ratio Rank: 72
CS1.L Sortino Ratio Rank: 68
CS1.L Omega Ratio Rank: 71
CS1.L Calmar Ratio Rank: 73
CS1.L Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ESRG.L vs. CS1.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Index MSCI Europe SRI PAB UCITS ETF DR (C) (ESRG.L) and Amundi ETF MSCI Spain UCITS ETF EUR (C) (CS1.L). 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.

	ESRG.L	CS1.L	Difference
Sharpe ratio: Return per unit of total volatility	0.51	2.30	-1.80
Sortino ratio: Return per unit of downside risk	0.80	3.07	-2.27
Omega ratio: Gain probability vs. loss probability	1.10	1.42	-0.32
Calmar ratio: Return relative to maximum drawdown	0.59	3.60	-3.00
Martin ratio: Return relative to average drawdown	1.82	12.14	-10.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ESRG.L vs. CS1.L - Sharpe Ratio Comparison

The current ESRG.L Sharpe Ratio is 0.51, which is lower than the CS1.L Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of ESRG.L and CS1.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ESRG.L	CS1.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.51	2.30	-1.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	1.16	-0.77
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.49	-0.04

Drawdowns

ESRG.L vs. CS1.L - Drawdown Comparison

The maximum ESRG.L drawdown since its inception was -24.73%, smaller than the maximum CS1.L drawdown of -38.87%. Use the drawdown chart below to compare losses from any high point for ESRG.L and CS1.L.

Drawdown Indicators

	ESRG.L	CS1.L	Difference
Max Drawdown Largest peak-to-trough decline	-24.73%	-38.87%	+14.14%
Max Drawdown (1Y) Largest decline over 1 year	-11.29%	-10.34%	-0.95%
Max Drawdown (3Y) Largest decline over 3 years	-12.96%	-10.34%	-2.62%
Max Drawdown (5Y) Largest decline over 5 years	-21.28%	-18.82%	-2.46%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.87%	—
Current Drawdown Current decline from peak	-0.79%	-0.98%	+0.19%
Average Drawdown Average peak-to-trough decline	-4.93%	-10.34%	+5.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.70%	3.07%	+0.63%

Volatility

ESRG.L vs. CS1.L - Volatility Comparison

The current volatility for Amundi Index MSCI Europe SRI PAB UCITS ETF DR (C) (ESRG.L) is 3.92%, while Amundi ETF MSCI Spain UCITS ETF EUR (C) (CS1.L) has a volatility of 4.68%. This indicates that ESRG.L experiences smaller price fluctuations and is considered to be less risky than CS1.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESRG.L	CS1.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.92%	4.68%	-0.76%
Volatility (6M) Calculated over the trailing 6-month period	10.71%	13.37%	-2.66%
Volatility (1Y) Calculated over the trailing 1-year period	13.22%	16.14%	-2.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.39%	16.72%	-2.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.88%	18.48%	-2.60%

ESRG.L vs. CS1.L - Expense Ratio Comparison

ESRG.L has a 0.18% expense ratio, which is lower than CS1.L's 0.25% 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

ESRG.L vs. CS1.L - Dividend Comparison

Neither ESRG.L nor CS1.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ESRG.L and CS1.L in my portfolio?

ESRG.L and CS1.L have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ESRG.L or CS1.L?

On fees, ESRG.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ESRG.L or CS1.L?

ESRG.L is cheaper with a 0.18% expense ratio, compared with 0.25% for CS1.L.

What is the main difference between ESRG.L and CS1.L?

ESRG.L tracks MSCI Europe NR EUR, while CS1.L tracks BME IBEX 35 NR EUR. Their fees differ too: 0.18% for ESRG.L and 0.25% for CS1.L.