EUFM.L vs. CMU.L

Last updated Jun 5, 2026

EUFM.L (UBS (Lux) Fund Solutions – MSCI EMU Select Factor Mix UCITS ETF(EUR)A-acc) and CMU.L (Amundi ETF MSCI EMU ESG Leaders Select) are both Europe Equities funds tracking the MSCI EMU NR EUR, from UBS and Amundi respectively. Both are passively managed. Over the past 5 years, EUFM.L returned 9.69%/yr vs 10.52%/yr for CMU.L. Their correlation of 0.87 suggests significant overlap in exposure. EUFM.L charges 0.34%/yr vs 0.15%/yr for CMU.L.

Performance

EUFM.L vs. CMU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS (Lux) Fund Solutions – MSCI EMU Select Factor Mix UCITS ETF(EUR)A-acc (EUFM.L) and Amundi ETF MSCI EMU ESG Leaders Select (CMU.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EUFM.L achieves a 6.74% return, which is significantly lower than CMU.L's 15.89% return.

EUFM.L

• 1D: 0.21%
• 1M: 2.81%
• YTD: 6.74%
• 6M: 8.89%
• 1Y: 16.80%
• 3Y*: 15.42%
• 5Y*: 9.69%
• 10Y*: —

CMU.L

• 1D: 0.33%
• 1M: 8.13%
• YTD: 15.89%
• 6M: 17.12%
• 1Y: 29.56%
• 3Y*: 16.11%
• 5Y*: 10.52%
• 10Y*: 10.79%

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

EUFM.L vs. CMU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EUFM.L UBS (Lux) Fund Solutions – MSCI EMU Select Factor Mix UCITS ETF(EUR)A-acc	6.74%	29.59%	3.25%	15.45%	-7.82%	13.50%	5.84%	19.11%	-12.29%
CMU.L Amundi ETF MSCI EMU ESG Leaders Select	15.89%	25.71%	1.42%	14.39%	-5.30%	13.03%	4.59%	19.05%	-12.91%

Correlation

The correlation between EUFM.L and CMU.L is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jul 10, 2018	0.87

The correlation between EUFM.L and CMU.L shifts across timeframes, from 0.79 (5 years) to 0.90 (1 year), reflecting how their relationship changes across market environments.

EUFM.L vs. CMU.L - Sectors Allocation Comparison

Sectors	EUFM.L	CMU.L
Financial Services	26.7%	21.8%
Industrials	23.5%	15.7%
Utilities	9.5%	5.8%
Technology	8.5%	30.8%
Consumer Defensive	6.7%	5.2%
Consumer Cyclical	6.6%	10.1%
Basic Materials	4.8%	2.8%
Healthcare	4.3%	4.2%
Communication Services	4.2%	2.3%
Energy	3.7%	0.0%
Real Estate	1.6%	1.3%

Return for Risk

EUFM.L vs. CMU.L — Risk / Return Rank

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

EUFM.L

EUFM.L Risk / Return Rank: 37
EUFM.L Sharpe Ratio Rank: 39
EUFM.L Sortino Ratio Rank: 37
EUFM.L Omega Ratio Rank: 41
EUFM.L Calmar Ratio Rank: 33
EUFM.L Martin Ratio Rank: 37

CMU.L

CMU.L Risk / Return Rank: 58
CMU.L Sharpe Ratio Rank: 59
CMU.L Sortino Ratio Rank: 60
CMU.L Omega Ratio Rank: 61
CMU.L Calmar Ratio Rank: 52
CMU.L Martin Ratio Rank: 56

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.

EUFM.L vs. CMU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS (Lux) Fund Solutions – MSCI EMU Select Factor Mix UCITS ETF(EUR)A-acc (EUFM.L) and Amundi ETF MSCI EMU ESG Leaders Select (CMU.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.

	EUFM.L	CMU.L	Difference
Sharpe ratio: Return per unit of total volatility	1.36	1.98	-0.62
Sortino ratio: Return per unit of downside risk	1.90	2.79	-0.89
Omega ratio: Gain probability vs. loss probability	1.26	1.37	-0.10
Calmar ratio: Return relative to maximum drawdown	1.58	2.58	-1.00
Martin ratio: Return relative to average drawdown	5.69	9.67	-3.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EUFM.L vs. CMU.L - Sharpe Ratio Comparison

The current EUFM.L Sharpe Ratio is 1.36, which is lower than the CMU.L Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of EUFM.L and CMU.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

	EUFM.L	CMU.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	1.98	-0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.66	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.49	+0.05

Drawdowns

EUFM.L vs. CMU.L - Drawdown Comparison

The maximum EUFM.L drawdown since its inception was -30.14%, smaller than the maximum CMU.L drawdown of -32.53%. Use the drawdown chart below to compare losses from any high point for EUFM.L and CMU.L.

Drawdown Indicators

	EUFM.L	CMU.L	Difference
Max Drawdown Largest peak-to-trough decline	-30.14%	-32.53%	+2.39%
Max Drawdown (1Y) Largest decline over 1 year	-10.59%	-11.43%	+0.84%
Max Drawdown (3Y) Largest decline over 3 years	-11.90%	-11.95%	+0.05%
Max Drawdown (5Y) Largest decline over 5 years	-20.86%	-21.11%	+0.25%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.41%	—
Current Drawdown Current decline from peak	-1.07%	-0.18%	-0.89%
Average Drawdown Average peak-to-trough decline	-5.19%	-5.80%	+0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	3.05%	-0.10%

Volatility

EUFM.L vs. CMU.L - Volatility Comparison

The current volatility for UBS (Lux) Fund Solutions – MSCI EMU Select Factor Mix UCITS ETF(EUR)A-acc (EUFM.L) is 4.00%, while Amundi ETF MSCI EMU ESG Leaders Select (CMU.L) has a volatility of 5.34%. This indicates that EUFM.L experiences smaller price fluctuations and is considered to be less risky than CMU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EUFM.L	CMU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	5.34%	-1.34%
Volatility (6M) Calculated over the trailing 6-month period	10.33%	12.44%	-2.11%
Volatility (1Y) Calculated over the trailing 1-year period	12.33%	14.86%	-2.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.53%	16.00%	-1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.13%	16.78%	-0.65%

EUFM.L vs. CMU.L - Expense Ratio Comparison

EUFM.L has a 0.34% expense ratio, which is higher than CMU.L's 0.15% expense ratio.

Dividends

EUFM.L vs. CMU.L - Dividend Comparison

Neither EUFM.L nor CMU.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EUFM.L and CMU.L in my portfolio?

With a correlation of 0.90, EUFM.L and CMU.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, EUFM.L or CMU.L?

On fees, CMU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EUFM.L or CMU.L?

CMU.L is cheaper with a 0.15% expense ratio, compared with 0.34% for EUFM.L.

What is the main difference between EUFM.L and CMU.L?

Both ETFs track MSCI EMU NR EUR. They also come from different issuers: UBS and Amundi. Their fees differ too: 0.34% for EUFM.L and 0.15% for CMU.L.