LGEU.L vs. CMU.L
LGEU.L (L&G Europe ex UK Equity UCITS ETF) and CMU.L (Amundi ETF MSCI EMU ESG Leaders Select) are both Europe Equities funds - LGEU.L tracks the L&G Europe ex UK Equity UCITS ETF while CMU.L tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 5 years, LGEU.L returned 9.66%/yr vs 10.98%/yr for CMU.L. Their correlation of 0.90 suggests significant overlap in exposure. LGEU.L charges 0.10%/yr vs 0.15%/yr for CMU.L.
Performance
LGEU.L vs. CMU.L - Performance Comparison
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Different Trading Currencies
LGEU.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, LGEU.L achieves a 10.65% return, which is significantly lower than CMU.L's 19.75% return.
LGEU.L
- 1D
- -0.63%
- 1M
- 0.36%
- 6M
- 6.63%
- YTD
- 10.65%
- 1Y
- 20.38%
- 3Y*
- 14.31%
- 5Y*
- 9.66%
- 10Y*
- —
CMU.L
- 1D
- 0.27%
- 1M
- 0.48%
- 6M
- 16.56%
- YTD
- 19.75%
- 1Y
- 29.99%
- 3Y*
- 16.09%
- 5Y*
- 10.98%
- 10Y*
- 10.19%
LGEU.L vs. CMU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
LGEU.L L&G Europe ex UK Equity UCITS ETF | 10.65% | 19.94% | 6.68% | 17.97% | -11.77% | 24.90% | 1.53% | 30.71% | -9.44% |
CMU.L Amundi ETF MSCI EMU ESG Leaders Select | 19.75% | 19.15% | 6.31% | 16.82% | -10.18% | 20.38% | -1.09% | 26.62% | -8.24% |
Correlation
The correlation between LGEU.L and CMU.L is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2018 | 0.90 |
The correlation between LGEU.L and CMU.L has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
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Return for Risk
LGEU.L vs. CMU.L — Risk / Return Rank
LGEU.L
CMU.L
LGEU.L vs. CMU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Europe ex UK Equity UCITS ETF (LGEU.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.
| LGEU.L | CMU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.36 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 2.77 | -0.64 |
| Martin ratioReturn relative to average drawdown | 8.15 | 10.68 | -2.54 |
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Drawdowns
LGEU.L vs. CMU.L - Drawdown Comparison
The maximum LGEU.L drawdown since its inception was -34.27%, smaller than the maximum CMU.L drawdown of -38.75%. Use the drawdown chart below to compare losses from any high point for LGEU.L and CMU.L.
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Drawdown Indicators
| LGEU.L | CMU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.27% | -38.75% | +4.48% |
Max Drawdown (1Y)Largest decline over 1 year | -9.92% | -10.61% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -16.41% | -14.04% | -2.37% |
Max Drawdown (5Y)Largest decline over 5 years | -22.68% | -23.95% | +1.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.75% | — |
Current DrawdownCurrent decline from peak | -2.52% | -1.70% | -0.82% |
Average DrawdownAverage peak-to-trough decline | -4.90% | -6.76% | +1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 2.76% | -0.16% |
Volatility
LGEU.L vs. CMU.L - Volatility Comparison
L&G Europe ex UK Equity UCITS ETF (LGEU.L) and Amundi ETF MSCI EMU ESG Leaders Select (CMU.L) have volatilities of 3.68% and 3.67%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LGEU.L | CMU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 3.67% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 11.29% | 12.71% | -1.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.72% | 15.08% | -1.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.08% | 16.05% | -0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.99% | 16.82% | +0.17% |
LGEU.L vs. CMU.L - Expense Ratio Comparison
LGEU.L has a 0.10% expense ratio, which is lower than CMU.L's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
LGEU.L vs. CMU.L - Dividend Comparison
Neither LGEU.L nor CMU.L has paid dividends to shareholders.
Frequently Asked Questions
LGEU.L and CMU.L have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LGEU.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LGEU.L is cheaper with a 0.10% expense ratio, compared with 0.15% for CMU.L.
LGEU.L tracks L&G Europe ex UK Equity UCITS ETF, while CMU.L tracks MSCI EMU NR EUR. They also come from different issuers: L&G and Amundi. Their fees differ too: 0.10% for LGEU.L and 0.15% for CMU.L.
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