LEER.DE vs. CSH.PA

Last updated Jun 13, 2026

LEER.DE (Amundi MSCI Eastern Europe Ex Russia UCITS ETF) and CSH.PA (Amundi EUR Overnight Return UCITS ETF Acc) are both exchange-traded funds - LEER.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Eastern Europe ex Russia Index, while CSH.PA is a Money Market fund tracking the Solactive Euro Overnight Return Index. Both are passively managed. Over the past 10 years, LEER.DE returned 11.69%/yr vs 0.92%/yr for CSH.PA. At a correlation of -0.02, they often move in opposite directions. LEER.DE charges 0.50%/yr vs 0.10%/yr for CSH.PA.

Performance

LEER.DE vs. CSH.PA - 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 Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LEER.DE achieves a 19.93% return, which is significantly higher than CSH.PA's 0.78% return. Over the past 10 years, LEER.DE has outperformed CSH.PA with an annualized return of 11.69%, while CSH.PA has yielded a comparatively lower 0.92% annualized return.

LEER.DE

• 1D: 3.17%
• 1M: 5.04%
• YTD: 19.93%
• 6M: 24.39%
• 1Y: 46.18%
• 3Y*: 31.60%
• 5Y*: 17.19%
• 10Y*: 11.69%

CSH.PA

• 1D: 0.01%
• 1M: 0.14%
• YTD: 0.78%
• 6M: 0.94%
• 1Y: 1.88%
• 3Y*: 2.96%
• 5Y*: 1.89%
• 10Y*: 0.92%

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

LEER.DE vs. CSH.PA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LEER.DE Amundi MSCI Eastern Europe Ex Russia UCITS ETF	19.93%	53.95%	4.13%	41.71%	-21.18%	20.41%	-18.42%	1.30%	-8.37%	30.59%
CSH.PA Amundi EUR Overnight Return UCITS ETF Acc	0.78%	2.25%	3.69%	3.22%	-0.06%	-0.65%	1.93%	-0.61%	-0.55%	-0.45%

Correlation

The correlation between LEER.DE and CSH.PA is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.00
Correlation (5Y) Calculated over the trailing 5-year period	0.01
Correlation (10Y) Calculated over the trailing 10-year period	0.01
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008	-0.02

Return for Risk

LEER.DE vs. CSH.PA — 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: 77
LEER.DE Sharpe Ratio Rank: 76
LEER.DE Sortino Ratio Rank: 76
LEER.DE Omega Ratio Rank: 70
LEER.DE Calmar Ratio Rank: 88
LEER.DE Martin Ratio Rank: 75

CSH.PA

CSH.PA Risk / Return Rank: 97
CSH.PA Sharpe Ratio Rank: 96
CSH.PA Sortino Ratio Rank: 97
CSH.PA Omega Ratio Rank: 97
CSH.PA Calmar Ratio Rank: 97
CSH.PA Martin Ratio Rank: 98

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. CSH.PA - 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 Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA). 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.

	LEER.DE	CSH.PA	Difference
Sharpe ratio: Return per unit of total volatility	2.16	3.96	-1.80
Sortino ratio: Return per unit of downside risk	3.01	6.62	-3.61
Omega ratio: Gain probability vs. loss probability	1.37	1.96	-0.59
Calmar ratio: Return relative to maximum drawdown	4.63	11.24	-6.61
Martin ratio: Return relative to average drawdown	12.70	57.34	-44.64

LEER.DE vs. CSH.PA - Sharpe Ratio Comparison

The current LEER.DE Sharpe Ratio is 2.16, which is lower than the CSH.PA Sharpe Ratio of 3.96. The chart below compares the historical Sharpe Ratios of LEER.DE and CSH.PA, 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

LEER.DE vs. CSH.PA - Drawdown Comparison

The maximum LEER.DE drawdown since its inception was -69.75%, which is greater than CSH.PA's maximum drawdown of -3.73%. Use the drawdown chart below to compare losses from any high point for LEER.DE and CSH.PA.

Drawdown Indicators

	LEER.DE	CSH.PA	Difference
Max Drawdown Largest peak-to-trough decline	-69.75%	-3.73%	-66.02%
Max Drawdown (1Y) Largest decline over 1 year	-9.92%	-0.18%	-9.74%
Max Drawdown (3Y) Largest decline over 3 years	-15.85%	-0.18%	-15.67%
Max Drawdown (5Y) Largest decline over 5 years	-43.51%	-0.75%	-42.76%
Max Drawdown (10Y) Largest decline over 10 years	-48.74%	-2.26%	-46.48%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-30.47%	-1.04%	-29.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	0.03%	+3.60%

Volatility

LEER.DE vs. CSH.PA - Volatility Comparison

Amundi MSCI Eastern Europe Ex Russia UCITS ETF (LEER.DE) has a higher volatility of 6.57% compared to Amundi EUR Overnight Return UCITS ETF Acc (CSH.PA) at 0.09%. This indicates that LEER.DE's price experiences larger fluctuations and is considered to be riskier than CSH.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LEER.DE	CSH.PA	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.57%	0.09%	+6.48%
Volatility (6M) Calculated over the trailing 6-month period	17.34%	0.41%	+16.93%
Volatility (1Y) Calculated over the trailing 1-year period	21.36%	0.50%	+20.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.08%	0.35%	+22.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.85%	0.64%	+21.21%

LEER.DE vs. CSH.PA - Expense Ratio Comparison

LEER.DE has a 0.50% expense ratio, which is higher than CSH.PA's 0.10% expense ratio.

Dividends

LEER.DE vs. CSH.PA - Dividend Comparison

Neither LEER.DE nor CSH.PA has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
CSH.PA Amundi EUR Overnight Return UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.05%	0.05%	2.60%
LEER.DE Amundi MSCI Eastern Europe Ex Russia UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

LEER.DE and CSH.PA have a correlation of -0.05, 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 CSH.PA?

On fees, CSH.PA is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LEER.DE or CSH.PA?

CSH.PA is cheaper with a 0.10% expense ratio, compared with 0.50% for LEER.DE.

What is the main difference between LEER.DE and CSH.PA?

LEER.DE is categorized as Emerging Markets Equities, while CSH.PA is Money Market. LEER.DE tracks MSCI Emerging Markets Eastern Europe ex Russia Index, while CSH.PA tracks Solactive Euro Overnight Return Index. Their fees differ too: 0.50% for LEER.DE and 0.10% for CSH.PA.