LEER.DE vs. AW12.DE

Last updated Jun 5, 2026

LEER.DE (Amundi MSCI Eastern Europe Ex Russia UCITS ETF) and AW12.DE (UBS ETF (IE) MSCI Emerging Markets Climate Paris Aligned UCITS ETF (USD) Acc) are both Emerging Markets Equities funds - LEER.DE tracks the MSCI Emerging Markets Eastern Europe ex Russia Index while AW12.DE tracks the MSCI Emerging Markets Climate Paris Aligned. Both are passively managed. Over the past 3 years, LEER.DE returned 31.18%/yr vs 18.73%/yr for AW12.DE. A 0.50 correlation means they provide meaningful diversification when combined. LEER.DE charges 0.50%/yr vs 0.16%/yr for AW12.DE.

Performance

LEER.DE vs. AW12.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi MSCI Eastern Europe Ex Russia UCITS ETF (LEER.DE) and UBS ETF (IE) MSCI Emerging Markets Climate Paris Aligned UCITS ETF (USD) Acc (AW12.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LEER.DE achieves a 18.03% return, which is significantly lower than AW12.DE's 24.98% return.

LEER.DE

• 1D: 0.66%
• 1M: 4.22%
• YTD: 18.03%
• 6M: 25.17%
• 1Y: 42.24%
• 3Y*: 31.18%
• 5Y*: 16.61%
• 10Y*: 10.92%

AW12.DE

• 1D: -1.17%
• 1M: 4.69%
• YTD: 24.98%
• 6M: 27.25%
• 1Y: 46.00%
• 3Y*: 18.73%
• 5Y*: —
• 10Y*: —

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

LEER.DE vs. AW12.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
LEER.DE Amundi MSCI Eastern Europe Ex Russia UCITS ETF	18.03%	53.92%	4.11%	41.71%	-21.16%	1.75%
AW12.DE UBS ETF (IE) MSCI Emerging Markets Climate Paris Aligned UCITS ETF (USD) Acc	24.98%	18.87%	12.31%	3.30%	-15.75%	-1.31%

Correlation

The correlation between LEER.DE and AW12.DE is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (All Time) Calculated using the full available price history since Aug 10, 2021	0.50

The correlation between LEER.DE and AW12.DE has been stable across timeframes, ranging from 0.48 to 0.51 - a consistent structural relationship.

Return for Risk

LEER.DE vs. AW12.DE — Risk / Return Rank

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

LEER.DE

LEER.DE Risk / Return Rank: 65
LEER.DE Sharpe Ratio Rank: 60
LEER.DE Sortino Ratio Rank: 60
LEER.DE Omega Ratio Rank: 57
LEER.DE Calmar Ratio Rank: 82
LEER.DE Martin Ratio Rank: 65

AW12.DE

AW12.DE Risk / Return Rank: 80
AW12.DE Sharpe Ratio Rank: 79
AW12.DE Sortino Ratio Rank: 77
AW12.DE Omega Ratio Rank: 79
AW12.DE Calmar Ratio Rank: 85
AW12.DE Martin Ratio Rank: 82

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.

LEER.DE vs. AW12.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Eastern Europe Ex Russia UCITS ETF (LEER.DE) and UBS ETF (IE) MSCI Emerging Markets Climate Paris Aligned UCITS ETF (USD) Acc (AW12.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.

	LEER.DE	AW12.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.52	-0.52
Sortino ratio: Return per unit of downside risk	2.81	3.40	-0.58
Omega ratio: Gain probability vs. loss probability	1.34	1.46	-0.12
Calmar ratio: Return relative to maximum drawdown	4.24	4.61	-0.37
Martin ratio: Return relative to average drawdown	11.61	16.28	-4.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LEER.DE vs. AW12.DE - Sharpe Ratio Comparison

The current LEER.DE Sharpe Ratio is 2.00, which is comparable to the AW12.DE Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of LEER.DE and AW12.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

	LEER.DE	AW12.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	2.52	-0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.43	-0.31

Drawdowns

LEER.DE vs. AW12.DE - Drawdown Comparison

The maximum LEER.DE drawdown since its inception was -72.16%, which is greater than AW12.DE's maximum drawdown of -24.09%. Use the drawdown chart below to compare losses from any high point for LEER.DE and AW12.DE.

Drawdown Indicators

	LEER.DE	AW12.DE	Difference
Max Drawdown Largest peak-to-trough decline	-72.16%	-24.09%	-48.07%
Max Drawdown (1Y) Largest decline over 1 year	-9.92%	-9.94%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-15.85%	-18.93%	+3.08%
Max Drawdown (5Y) Largest decline over 5 years	-43.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-48.74%	—	—
Current Drawdown Current decline from peak	-0.84%	-2.26%	+1.42%
Average Drawdown Average peak-to-trough decline	-33.44%	-9.89%	-23.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	2.82%	+0.81%

Volatility

LEER.DE vs. AW12.DE - Volatility Comparison

The current volatility for Amundi MSCI Eastern Europe Ex Russia UCITS ETF (LEER.DE) is 6.19%, while UBS ETF (IE) MSCI Emerging Markets Climate Paris Aligned UCITS ETF (USD) Acc (AW12.DE) has a volatility of 7.44%. This indicates that LEER.DE experiences smaller price fluctuations and is considered to be less risky than AW12.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LEER.DE	AW12.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.19%	7.44%	-1.25%
Volatility (6M) Calculated over the trailing 6-month period	16.81%	14.88%	+1.93%
Volatility (1Y) Calculated over the trailing 1-year period	21.00%	18.18%	+2.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.00%	17.92%	+5.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.97%	17.92%	+4.05%

LEER.DE vs. AW12.DE - Expense Ratio Comparison

LEER.DE has a 0.50% expense ratio, which is higher than AW12.DE's 0.16% expense ratio.

Dividends

LEER.DE vs. AW12.DE - Dividend Comparison

Neither LEER.DE nor AW12.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LEER.DE and AW12.DE in my portfolio?

LEER.DE and AW12.DE have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LEER.DE or AW12.DE?

On fees, AW12.DE is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LEER.DE or AW12.DE?

AW12.DE is cheaper with a 0.16% expense ratio, compared with 0.50% for LEER.DE.

What is the main difference between LEER.DE and AW12.DE?

LEER.DE tracks MSCI Emerging Markets Eastern Europe ex Russia Index, while AW12.DE tracks MSCI Emerging Markets Climate Paris Aligned. They also come from different issuers: Amundi and UBS. Their fees differ too: 0.50% for LEER.DE and 0.16% for AW12.DE.