IMEU.AS vs. AE5B.DE

Last updated Jun 4, 2026

IMEU.AS (iShares Core MSCI Europe UCITS ETF EUR (Dist)) and AE5B.DE (Amundi MSCI Europe Climate Action UCITS ETF Dist) are both Europe Equities funds - IMEU.AS tracks the MSCI Europe NR EUR while AE5B.DE tracks the MSCI Europe Climate Action. Both are passively managed. Over the past year, IMEU.AS returned 16.16% vs 12.22% for AE5B.DE. With a 0.96 correlation, they move nearly in lockstep. IMEU.AS charges 1.00%/yr vs 0.09%/yr for AE5B.DE.

Performance

IMEU.AS vs. AE5B.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Core MSCI Europe UCITS ETF EUR (Dist) (IMEU.AS) and Amundi MSCI Europe Climate Action UCITS ETF Dist (AE5B.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMEU.AS achieves a 6.89% return, which is significantly higher than AE5B.DE's 4.65% return.

IMEU.AS

• 1D: -0.67%
• 1M: 3.83%
• YTD: 6.89%
• 6M: 9.70%
• 1Y: 16.16%
• 3Y*: 13.32%
• 5Y*: 9.85%
• 10Y*: 9.15%

AE5B.DE

• 1D: -0.61%
• 1M: 3.49%
• YTD: 4.65%
• 6M: 7.61%
• 1Y: 12.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IMEU.AS vs. AE5B.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IMEU.AS iShares Core MSCI Europe UCITS ETF EUR (Dist)	6.89%	19.89%	8.97%	3.69%
AE5B.DE Amundi MSCI Europe Climate Action UCITS ETF Dist	4.65%	16.59%	7.50%	3.40%

Correlation

The correlation between IMEU.AS and AE5B.DE is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jun 16, 2023	0.96

The correlation between IMEU.AS and AE5B.DE has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

IMEU.AS vs. AE5B.DE — Risk / Return Rank

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

IMEU.AS

IMEU.AS Risk / Return Rank: 36
IMEU.AS Sharpe Ratio Rank: 35
IMEU.AS Sortino Ratio Rank: 35
IMEU.AS Omega Ratio Rank: 36
IMEU.AS Calmar Ratio Rank: 34
IMEU.AS Martin Ratio Rank: 40

AE5B.DE

AE5B.DE Risk / Return Rank: 26
AE5B.DE Sharpe Ratio Rank: 26
AE5B.DE Sortino Ratio Rank: 26
AE5B.DE Omega Ratio Rank: 26
AE5B.DE Calmar Ratio Rank: 25
AE5B.DE Martin Ratio Rank: 28

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.

IMEU.AS vs. AE5B.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Europe UCITS ETF EUR (Dist) (IMEU.AS) and Amundi MSCI Europe Climate Action UCITS ETF Dist (AE5B.DE). 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.

	IMEU.AS	AE5B.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.26	0.91	+0.35
Sortino ratio: Return per unit of downside risk	1.86	1.40	+0.46
Omega ratio: Gain probability vs. loss probability	1.24	1.17	+0.07
Calmar ratio: Return relative to maximum drawdown	1.68	1.16	+0.52
Martin ratio: Return relative to average drawdown	6.32	3.92	+2.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMEU.AS vs. AE5B.DE - Sharpe Ratio Comparison

The current IMEU.AS Sharpe Ratio is 1.26, which is higher than the AE5B.DE Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of IMEU.AS and AE5B.DE, 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

	IMEU.AS	AE5B.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	0.91	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.81	-0.51

Drawdowns

IMEU.AS vs. AE5B.DE - Drawdown Comparison

The maximum IMEU.AS drawdown since its inception was -57.85%, which is greater than AE5B.DE's maximum drawdown of -16.86%. Use the drawdown chart below to compare losses from any high point for IMEU.AS and AE5B.DE.

Drawdown Indicators

	IMEU.AS	AE5B.DE	Difference
Max Drawdown Largest peak-to-trough decline	-57.85%	-16.86%	-40.99%
Max Drawdown (1Y) Largest decline over 1 year	-9.49%	-10.52%	+1.03%
Max Drawdown (3Y) Largest decline over 3 years	-16.34%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.26%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.73%	—	—
Current Drawdown Current decline from peak	-2.22%	-2.25%	+0.03%
Average Drawdown Average peak-to-trough decline	-11.91%	-2.58%	-9.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	3.11%	-0.58%

Volatility

IMEU.AS vs. AE5B.DE - Volatility Comparison

iShares Core MSCI Europe UCITS ETF EUR (Dist) (IMEU.AS) has a higher volatility of 4.89% compared to Amundi MSCI Europe Climate Action UCITS ETF Dist (AE5B.DE) at 4.50%. This indicates that IMEU.AS's price experiences larger fluctuations and is considered to be riskier than AE5B.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMEU.AS	AE5B.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.89%	4.50%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	10.53%	10.84%	-0.31%
Volatility (1Y) Calculated over the trailing 1-year period	12.69%	13.36%	-0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.05%	13.34%	+0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.55%	13.34%	+2.21%

IMEU.AS vs. AE5B.DE - Expense Ratio Comparison

IMEU.AS has a 1.00% expense ratio, which is higher than AE5B.DE's 0.09% expense ratio.

Dividends

IMEU.AS vs. AE5B.DE - Dividend Comparison

IMEU.AS's dividend yield for the trailing twelve months is around 2.55%, more than AE5B.DE's 2.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AE5B.DE Amundi MSCI Europe Climate Action UCITS ETF Dist	2.18%	2.28%	2.68%	0.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IMEU.AS iShares Core MSCI Europe UCITS ETF EUR (Dist)	2.55%	2.55%	2.87%	2.88%	2.93%	2.25%	2.08%	3.06%	3.23%	2.64%	2.85%	2.67%

Frequently Asked Questions

Can I hold both IMEU.AS and AE5B.DE in my portfolio?

With a correlation of 0.97, IMEU.AS and AE5B.DE 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, IMEU.AS or AE5B.DE?

On fees, AE5B.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IMEU.AS or AE5B.DE?

AE5B.DE is cheaper with a 0.09% expense ratio, compared with 1.00% for IMEU.AS.

What is the main difference between IMEU.AS and AE5B.DE?

IMEU.AS tracks MSCI Europe NR EUR, while AE5B.DE tracks MSCI Europe Climate Action. They also come from different issuers: iShares and Amundi. Their fees differ too: 1.00% for IMEU.AS and 0.09% for AE5B.DE.