FRXD.L vs. CEUR.L

Last updated Jul 16, 2026

FRXD.L (Franklin European Quality Dividend UCITS ETF) and CEUR.L (Amundi MSCI Europe) are both Europe Equities funds - FRXD.L tracks the Franklin European Quality Dividend UCITS ETF while CEUR.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, FRXD.L returned 12.20%/yr vs 9.91%/yr for CEUR.L. A 0.73 correlation means they provide meaningful diversification when combined. FRXD.L charges 0.25%/yr vs 0.05%/yr for CEUR.L.

Performance

FRXD.L vs. CEUR.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Franklin European Quality Dividend UCITS ETF (FRXD.L) and Amundi MSCI Europe (CEUR.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FRXD.L is traded in EUR, while CEUR.L is traded in GBp. To make them comparable, the CEUR.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with FRXD.L having a 11.06% return and CEUR.L slightly higher at 11.17%.

FRXD.L

• 1D: -0.85%
• 1M: -1.52%
• 6M: 10.24%
• YTD: 11.06%
• 1Y: 19.06%
• 3Y*: 19.64%
• 5Y*: 12.20%
• 10Y*: —

CEUR.L

• 1D: 0.03%
• 1M: 1.42%
• 6M: 7.86%
• YTD: 11.17%
• 1Y: 21.55%
• 3Y*: 14.73%
• 5Y*: 9.91%
• 10Y*: 7.33%

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

FRXD.L vs. CEUR.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRXD.L Franklin European Quality Dividend UCITS ETF	11.06%	24.01%	12.76%	10.32%	-0.01%	17.27%	-4.30%	24.47%	-9.31%	-0.60%
CEUR.L Amundi MSCI Europe	11.17%	17.97%	9.96%	15.33%	-10.81%	24.63%	-3.27%	27.20%	-20.55%	7.59%

Correlation

The correlation between FRXD.L and CEUR.L is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Sep 8, 2017	0.73

The correlation between FRXD.L and CEUR.L shifts across timeframes, from 0.59 (3 years) to 0.73 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FRXD.L vs. CEUR.L — Risk / Return Rank

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

FRXD.L

FRXD.L Risk / Return Rank: 86
FRXD.L Sharpe Ratio Rank: 85
FRXD.L Sortino Ratio Rank: 86
FRXD.L Omega Ratio Rank: 82
FRXD.L Calmar Ratio Rank: 94
FRXD.L Martin Ratio Rank: 85

CEUR.L

CEUR.L Risk / Return Rank: 49
CEUR.L Sharpe Ratio Rank: 53
CEUR.L Sortino Ratio Rank: 52
CEUR.L Omega Ratio Rank: 55
CEUR.L Calmar Ratio Rank: 40
CEUR.L Martin Ratio Rank: 44

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.

FRXD.L vs. CEUR.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin European Quality Dividend UCITS ETF (FRXD.L) and Amundi MSCI Europe (CEUR.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.

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.

	FRXD.L	CEUR.L	Difference
Sharpe ratio: Return per unit of total volatility	2.16	1.65	+0.51
Sortino ratio: Return per unit of downside risk	3.10	2.36	+0.75
Omega ratio: Gain probability vs. loss probability	1.39	1.31	+0.08
Calmar ratio: Return relative to maximum drawdown	5.71	2.13	+3.58
Martin ratio: Return relative to average drawdown	13.52	7.92	+5.60

FRXD.L vs. CEUR.L - Sharpe Ratio Comparison

The current FRXD.L Sharpe Ratio is 2.16, which is higher than the CEUR.L Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of FRXD.L and CEUR.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.

Drawdowns

FRXD.L vs. CEUR.L - Drawdown Comparison

The maximum FRXD.L drawdown since its inception was -35.42%, smaller than the maximum CEUR.L drawdown of -50.52%. Use the drawdown chart below to compare losses from any high point for FRXD.L and CEUR.L.

Drawdown Indicators

	FRXD.L	CEUR.L	Difference
Max Drawdown Largest peak-to-trough decline	-35.42%	-50.52%	+15.10%
Max Drawdown (1Y) Largest decline over 1 year	-3.30%	-10.05%	+6.75%
Max Drawdown (3Y) Largest decline over 3 years	-10.26%	-15.75%	+5.49%
Max Drawdown (5Y) Largest decline over 5 years	-14.39%	-21.40%	+7.01%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.15%	—
Current Drawdown Current decline from peak	-2.31%	-1.51%	-0.80%
Average Drawdown Average peak-to-trough decline	-3.86%	-13.62%	+9.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.39%	2.72%	-1.33%

Volatility

FRXD.L vs. CEUR.L - Volatility Comparison

The current volatility for Franklin European Quality Dividend UCITS ETF (FRXD.L) is 2.57%, while Amundi MSCI Europe (CEUR.L) has a volatility of 3.24%. This indicates that FRXD.L experiences smaller price fluctuations and is considered to be less risky than CEUR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRXD.L	CEUR.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.57%	3.24%	-0.67%
Volatility (6M) Calculated over the trailing 6-month period	6.82%	10.89%	-4.07%
Volatility (1Y) Calculated over the trailing 1-year period	8.72%	13.03%	-4.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.25%	14.35%	-3.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.50%	16.34%	-2.84%

FRXD.L vs. CEUR.L - Expense Ratio Comparison

FRXD.L has a 0.25% expense ratio, which is higher than CEUR.L's 0.05% 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

FRXD.L vs. CEUR.L - Dividend Comparison

FRXD.L's dividend yield for the trailing twelve months is around 3.98%, while CEUR.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CEUR.L Amundi MSCI Europe	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FRXD.L Franklin European Quality Dividend UCITS ETF	3.98%	4.28%	4.30%	5.00%	5.20%	4.63%	3.53%	4.42%	5.53%

Frequently Asked Questions

Can I hold both FRXD.L and CEUR.L in my portfolio?

FRXD.L and CEUR.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FRXD.L or CEUR.L?

On fees, CEUR.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FRXD.L or CEUR.L?

CEUR.L is cheaper with a 0.05% expense ratio, compared with 0.25% for FRXD.L.

What is the main difference between FRXD.L and CEUR.L?

FRXD.L tracks Franklin European Quality Dividend UCITS ETF, while CEUR.L tracks MSCI Europe NR EUR. They also come from different issuers: Franklin and Amundi. Their fees differ too: 0.25% for FRXD.L and 0.05% for CEUR.L.