MEUD.L vs. USD=X

Last updated Jun 9, 2026

MEUD.L (Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc) is Europe Equities fund tracking the MSCI Europe NR EUR, while USD=X (USD Cash) is a currency. Over the past 10 years, MEUD.L returned 10.52%/yr vs 0.67%/yr for USD=X. At a 0.08 correlation, their price movements are largely independent.

Performance

MEUD.L vs. USD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc (MEUD.L) and USD Cash (USD=X). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MEUD.L is traded in GBp, while USD=X is traded in USD. To make them comparable, the USD=X values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, MEUD.L achieves a 6.17% return, which is significantly higher than USD=X's 0.97% return. Over the past 10 years, MEUD.L has outperformed USD=X with an annualized return of 10.52%, while USD=X has yielded a comparatively lower 0.67% annualized return.

MEUD.L

• 1D: 0.06%
• 1M: 2.27%
• YTD: 6.17%
• 6M: 8.63%
• 1Y: 18.55%
• 3Y*: 14.23%
• 5Y*: 9.58%
• 10Y*: 10.52%

USD=X

• 1D: 0.00%
• 1M: 2.16%
• YTD: 0.97%
• 6M: -0.17%
• 1Y: 1.45%
• 3Y*: -1.96%
• 5Y*: 1.22%
• 10Y*: 0.67%

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

MEUD.L vs. USD=X - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MEUD.L Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc	6.17%	26.51%	3.65%	13.48%	-5.04%	17.06%	3.85%	20.40%	-9.59%	15.43%
USD=X USD Cash	0.97%	-7.12%	1.75%	-5.00%	11.89%	0.95%	-2.94%	-3.80%	5.93%	-8.65%

Correlation

The correlation between MEUD.L and USD=X is -0.07, 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	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	-0.06
Correlation (5Y) Calculated over the trailing 5-year period	-0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Apr 4, 2013	0.08

The correlation between MEUD.L and USD=X shifts across timeframes, from -0.11 (5 years) to 0.08 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MEUD.L vs. USD=X — Risk / Return Rank

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

MEUD.L

MEUD.L Risk / Return Rank: 46
MEUD.L Sharpe Ratio Rank: 49
MEUD.L Sortino Ratio Rank: 48
MEUD.L Omega Ratio Rank: 51
MEUD.L Calmar Ratio Rank: 39
MEUD.L Martin Ratio Rank: 43

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.

MEUD.L vs. USD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc (MEUD.L) and USD Cash (USD=X). 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.

	MEUD.L	USD=X	Difference
Sharpe ratio: Return per unit of total volatility	1.52	0.22	+1.30
Sortino ratio: Return per unit of downside risk	2.15	0.36	+1.80
Omega ratio: Gain probability vs. loss probability	1.29	1.04	+0.25
Calmar ratio: Return relative to maximum drawdown	1.75	0.26	+1.50
Martin ratio: Return relative to average drawdown	6.35	0.58	+5.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MEUD.L vs. USD=X - Sharpe Ratio Comparison

The current MEUD.L Sharpe Ratio is 1.52, which is higher than the USD=X Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of MEUD.L and USD=X, 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

	MEUD.L	USD=X	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	0.22	+1.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.14	+0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.07	+0.55
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.23	+0.22

Drawdowns

MEUD.L vs. USD=X - Drawdown Comparison

The maximum MEUD.L drawdown since its inception was -28.57%, which is greater than USD=X's maximum drawdown of -22.85%. Use the drawdown chart below to compare losses from any high point for MEUD.L and USD=X.

Drawdown Indicators

	MEUD.L	USD=X	Difference
Max Drawdown Largest peak-to-trough decline	-28.57%	-22.85%	-5.72%
Max Drawdown (1Y) Largest decline over 1 year	-10.53%	-5.98%	-4.55%
Max Drawdown (3Y) Largest decline over 3 years	-12.61%	-12.79%	+0.18%
Max Drawdown (5Y) Largest decline over 5 years	-17.09%	-22.85%	+5.76%
Max Drawdown (10Y) Largest decline over 10 years	-28.57%	-22.85%	-5.72%
Current Drawdown Current decline from peak	-1.71%	-19.93%	+18.22%
Average Drawdown Average peak-to-trough decline	-6.90%	-11.07%	+4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	2.93%	-0.02%

Volatility

MEUD.L vs. USD=X - Volatility Comparison

Lyxor Core STOXX Europe 600 (DR) - UCITS ETF Acc (MEUD.L) has a higher volatility of 3.16% compared to USD Cash (USD=X) at 1.79%. This indicates that MEUD.L's price experiences larger fluctuations and is considered to be riskier than USD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MEUD.L	USD=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.16%	1.79%	+1.37%
Volatility (6M) Calculated over the trailing 6-month period	10.20%	5.23%	+4.97%
Volatility (1Y) Calculated over the trailing 1-year period	12.17%	5.76%	+6.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.00%	7.12%	+8.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.94%	7.91%	+9.03%

Frequently Asked Questions

Can I hold both MEUD.L and USD=X in my portfolio?

MEUD.L and USD=X have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.