HSEU.L vs. CEUR.L
HSEU.L (HSBC Europe Screened Equity UCITS ETF) and CEUR.L (Amundi MSCI Europe) are both Europe Equities funds - HSEU.L tracks the HSBC Europe Screened Equity UCITS ETF while CEUR.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, HSEU.L returned 10.23%/yr vs 9.91%/yr for CEUR.L. Their correlation of 0.93 suggests significant overlap in exposure. HSEU.L charges 0.15%/yr vs 0.05%/yr for CEUR.L.
Performance
HSEU.L vs. CEUR.L - Performance Comparison
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Different Trading Currencies
HSEU.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
In the year-to-date period, HSEU.L achieves a 14.74% return, which is significantly higher than CEUR.L's 11.17% return.
HSEU.L
- 1D
- -0.57%
- 1M
- 0.77%
- 6M
- 11.27%
- YTD
- 14.74%
- 1Y
- 26.09%
- 3Y*
- 15.85%
- 5Y*
- 10.23%
- 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%
HSEU.L vs. CEUR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HSEU.L HSBC Europe Screened Equity UCITS ETF | 14.74% | 18.95% | 9.59% | 15.27% | -11.04% | 18.74% | 9.08% |
CEUR.L Amundi MSCI Europe | 11.17% | 17.97% | 9.96% | 15.33% | -10.81% | 24.63% | 9.31% |
Correlation
The correlation between HSEU.L and CEUR.L is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.93 |
The correlation between HSEU.L and CEUR.L has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
HSEU.L vs. CEUR.L — Risk / Return Rank
HSEU.L
CEUR.L
HSEU.L vs. CEUR.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Europe Screened Equity UCITS ETF (HSEU.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.
| HSEU.L | CEUR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.31 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 2.13 | +0.40 |
| Martin ratioReturn relative to average drawdown | 9.67 | 7.92 | +1.75 |
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Drawdowns
HSEU.L vs. CEUR.L - Drawdown Comparison
The maximum HSEU.L drawdown since its inception was -21.47%, smaller than the maximum CEUR.L drawdown of -50.52%. Use the drawdown chart below to compare losses from any high point for HSEU.L and CEUR.L.
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Drawdown Indicators
| HSEU.L | CEUR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.47% | -50.52% | +29.05% |
Max Drawdown (1Y)Largest decline over 1 year | -10.48% | -10.05% | -0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -14.61% | -15.75% | +1.14% |
Max Drawdown (5Y)Largest decline over 5 years | -21.47% | -21.40% | -0.07% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.15% | — |
Current DrawdownCurrent decline from peak | -2.10% | -1.51% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -3.94% | -13.62% | +9.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 2.72% | +0.03% |
Volatility
HSEU.L vs. CEUR.L - Volatility Comparison
HSBC Europe Screened Equity UCITS ETF (HSEU.L) has a higher volatility of 3.76% compared to Amundi MSCI Europe (CEUR.L) at 3.24%. This indicates that HSEU.L's price experiences larger fluctuations and is considered to be riskier than CEUR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSEU.L | CEUR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.76% | 3.24% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 11.83% | 10.89% | +0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.86% | 13.03% | +0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.49% | 14.35% | +0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.71% | 16.34% | -1.63% |
HSEU.L vs. CEUR.L - Expense Ratio Comparison
HSEU.L has a 0.15% 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
HSEU.L vs. CEUR.L - Dividend Comparison
Neither HSEU.L nor CEUR.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, HSEU.L and CEUR.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.
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.
CEUR.L is cheaper with a 0.05% expense ratio, compared with 0.15% for HSEU.L.
HSEU.L tracks HSBC Europe Screened Equity UCITS ETF, while CEUR.L tracks MSCI Europe NR EUR. They also come from different issuers: HSBC and Amundi. Their fees differ too: 0.15% for HSEU.L and 0.05% for CEUR.L.
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