HIGH.L vs. CMU.L
HIGH.L (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc)) and CMU.L (Amundi ETF MSCI EMU ESG Leaders Select) are both exchange-traded funds - HIGH.L is a European High Yield Bonds fund tracking the Bloomberg Pan Euro HY Euro TR EUR, while CMU.L is a Europe Equities fund tracking the MSCI EMU NR EUR. Both are passively managed. Over the past 5 years, HIGH.L returned 2.73%/yr vs 10.79%/yr for CMU.L. A 0.65 correlation means they provide meaningful diversification when combined. HIGH.L charges 0.50%/yr vs 0.15%/yr for CMU.L.
Performance
HIGH.L vs. CMU.L - Performance Comparison
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Different Trading Currencies
HIGH.L is traded in EUR, while CMU.L is traded in GBp. To make them comparable, the CMU.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, HIGH.L achieves a 1.29% return, which is significantly lower than CMU.L's 18.60% return.
HIGH.L
- 1D
- 0.00%
- 1M
- -0.00%
- 6M
- 1.45%
- YTD
- 1.29%
- 1Y
- 3.11%
- 3Y*
- 6.20%
- 5Y*
- 2.73%
- 10Y*
- —
- ALL TIME*
- 2.65%
CMU.L
- 1D
- 0.17%
- 1M
- -1.58%
- 6M
- 17.34%
- YTD
- 18.60%
- 1Y
- 28.64%
- 3Y*
- 15.53%
- 5Y*
- 10.79%
- 10Y*
- 9.96%
- ALL TIME*
- 8.33%
HIGH.L vs. CMU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HIGH.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc) | 1.29% | 4.89% | 5.70% | 11.59% | -9.32% | 2.82% | 1.10% | 9.76% | -3.41% | 0.63% |
CMU.L Amundi ETF MSCI EMU ESG Leaders Select | 18.60% | 19.15% | 6.31% | 16.82% | -10.18% | 20.38% | -1.09% | 26.62% | -12.65% | 0.74% |
Correlation
The correlation between HIGH.L and CMU.L is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2017 | 0.65 |
The correlation between HIGH.L and CMU.L has been stable across timeframes, ranging from 0.58 to 0.65 - a consistent structural relationship.
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Return for Risk
HIGH.L vs. CMU.L — Risk / Return Rank
HIGH.L
CMU.L
HIGH.L vs. CMU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc) (HIGH.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.
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.
| HIGH.L | CMU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.35 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 2.69 | -1.61 |
| Martin ratioReturn relative to average drawdown | 4.35 | 10.30 | -5.94 |
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Drawdowns
HIGH.L vs. CMU.L - Drawdown Comparison
The maximum HIGH.L drawdown since its inception was -25.42%, smaller than the maximum CMU.L drawdown of -38.75%. Use the drawdown chart below to compare losses from any high point for HIGH.L and CMU.L.
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Drawdown Indicators
| HIGH.L | CMU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.42% | -38.75% | +13.33% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -10.61% | +7.73% |
Max Drawdown (3Y)Largest decline over 3 years | -3.65% | -14.04% | +10.39% |
Max Drawdown (5Y)Largest decline over 5 years | -14.64% | -23.95% | +9.31% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.75% | — |
Current DrawdownCurrent decline from peak | -0.47% | -2.65% | +2.18% |
Average DrawdownAverage peak-to-trough decline | -2.68% | -6.75% | +4.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 2.77% | -2.06% |
Volatility
HIGH.L vs. CMU.L - Volatility Comparison
The current volatility for iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc) (HIGH.L) is 0.73%, while Amundi ETF MSCI EMU ESG Leaders Select (CMU.L) has a volatility of 3.64%. This indicates that HIGH.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.
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Volatility by Period
| HIGH.L | CMU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 3.64% | -2.91% |
Volatility (6M)Calculated over the trailing 6-month period | 3.12% | 12.60% | -9.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.67% | 15.10% | -11.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.47% | 16.00% | -10.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.16% | 16.82% | -9.66% |
HIGH.L vs. CMU.L - Expense Ratio Comparison
HIGH.L has a 0.50% expense ratio, which is higher than CMU.L's 0.15% expense ratio.
Dividends
HIGH.L vs. CMU.L - Dividend Comparison
Neither HIGH.L nor CMU.L has paid dividends to shareholders.
Frequently Asked Questions
HIGH.L and CMU.L have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
CMU.L is cheaper with a 0.15% expense ratio, compared with 0.50% for HIGH.L.
HIGH.L is categorized as European High Yield Bonds, while CMU.L is Europe Equities. HIGH.L tracks Bloomberg Pan Euro HY Euro TR EUR, while CMU.L tracks MSCI EMU NR EUR. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.50% for HIGH.L and 0.15% for CMU.L.
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