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MFEX.L vs. CS1.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MFEX.L vs. CS1.L

Last updated Jun 5, 2026

MFEX.L (Lyxor UCITS MSCI EMU) and CS1.L (Amundi ETF MSCI Spain UCITS ETF EUR (C)) are both Europe Equities funds from Amundi - MFEX.L tracks the MSCI EMU NR EUR while CS1.L tracks the BME IBEX 35 NR EUR. Both are passively managed. Over the past 5 years, MFEX.L returned 83.37%/yr vs 19.41%/yr for CS1.L. A 0.80 correlation means they provide meaningful diversification when combined. MFEX.L charges 0.12%/yr vs 0.25%/yr for CS1.L.

Performance

MFEX.L vs. CS1.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor UCITS MSCI EMU (MFEX.L) and Amundi ETF MSCI Spain UCITS ETF EUR (C) (CS1.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

MFEX.L is traded in GBP, while CS1.L is traded in GBp. To make them comparable, the CS1.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, MFEX.L achieves a 7.98% return, which is significantly higher than CS1.L's 6.29% return.

MFEX.L

1D
0.46%
1M
4.82%
YTD
7.98%
6M
9.56%
1Y
21.18%
3Y*
16.13%
5Y*
83.37%
10Y*
—

CS1.L

1D
0.91%
1M
3.97%
YTD
6.29%
6M
10.00%
1Y
37.36%
3Y*
30.04%
5Y*
19.41%
10Y*
12.13%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MFEX.L vs. CS1.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
MFEX.L
Lyxor UCITS MSCI EMU		7.98%30.65%4.68%16.31%525.11%113.18%71.48%19.15%-13.18%
CS1.L
Amundi ETF MSCI Spain UCITS ETF EUR (C)		6.29%62.63%14.12%24.14%4.89%0.59%-7.48%8.06%-9.30%

Correlation

The correlation between MFEX.L and CS1.L is 0.84, 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

0.84

Correlation (3Y)
Calculated over the trailing 3-year period

0.78

Correlation (5Y)
Calculated over the trailing 5-year period

0.78

Correlation (All Time)
Calculated using the full available price history since Jul 26, 2018

0.80

The correlation between MFEX.L and CS1.L has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

MFEX.L vs. CS1.L - Sectors Allocation Comparison

Sectors
MFEX.L
CS1.L

Financial Services

24.6%
40.3%

Industrials

21.4%
15.8%

Technology

16.6%
3.2%

Consumer Cyclical

8.5%
10.8%

Utilities

6.1%
19.0%

Healthcare

5.8%
0.7%

Consumer Defensive

4.6%
0.3%

Communication Services

4.5%
2.4%

Energy

4.2%
2.8%

Basic Materials

2.8%
1.3%

Real Estate

0.9%
3.3%

Financial Services

MFEX.L
24.6%
CS1.L
40.3%

Industrials

MFEX.L
21.4%
CS1.L
15.8%

Technology

MFEX.L
16.6%
CS1.L
3.2%

Consumer Cyclical

MFEX.L
8.5%
CS1.L
10.8%

Utilities

MFEX.L
6.1%
CS1.L
19.0%

Healthcare

MFEX.L
5.8%
CS1.L
0.7%

Consumer Defensive

MFEX.L
4.6%
CS1.L
0.3%

Communication Services

MFEX.L
4.5%
CS1.L
2.4%

Energy

MFEX.L
4.2%
CS1.L
2.8%

Basic Materials

MFEX.L
2.8%
CS1.L
1.3%

Real Estate

MFEX.L
0.9%
CS1.L
3.3%

Compare stocks, funds, or ETFs

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Lyxor UCITS MSCI EMU

Amundi ETF MSCI Spain UCITS ETF EUR (C)

Often compared with MFEX.L:
MFEX.L vs. IEFM.LMFEX.L vs. MEIKXMFEX.L vs. ACWIMFEX.L vs. 100D.LMFEX.L vs. 500G.LMFEX.L vs. ACWL.LMFEX.L vs. LDEG.L
Often compared with CS1.L:
CS1.L vs. VOOCS1.L vs. CSWG.LCS1.L vs. WDEP.LCS1.L vs. FEQD.LCS1.L vs. EDIV.LCS1.L vs. PRUK.LCS1.L vs. EGRW.L

Return for Risk

MFEX.L vs. CS1.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MFEX.L
MFEX.L Risk / Return Rank: 4343
Overall Rank
MFEX.L Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
MFEX.L Sortino Ratio Rank: 4444
Sortino Ratio Rank
MFEX.L Omega Ratio Rank: 4545
Omega Ratio Rank
MFEX.L Calmar Ratio Rank: 3939
Calmar Ratio Rank
MFEX.L Martin Ratio Rank: 4343
Martin Ratio Rank
CS1.L
CS1.L Risk / Return Rank: 7070
Overall Rank
CS1.L Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
CS1.L Sortino Ratio Rank: 6868
Sortino Ratio Rank
CS1.L Omega Ratio Rank: 7171
Omega Ratio Rank
CS1.L Calmar Ratio Rank: 7373
Calmar Ratio Rank
CS1.L Martin Ratio Rank: 6767
Martin Ratio Rank
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.

MFEX.L vs. CS1.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor UCITS MSCI EMU (MFEX.L) and Amundi ETF MSCI Spain UCITS ETF EUR (C) (CS1.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.

MFEX.LCS1.LDifference
Sharpe ratioReturn per unit of total volatility
1.51
2.30

-0.79

Sortino ratioReturn per unit of downside risk
2.17
3.07

-0.90

Omega ratioGain probability vs. loss probability

1.28

1.42

-0.14

Calmar ratioReturn relative to maximum drawdown

1.92

3.60

-1.68

Martin ratioReturn relative to average drawdown

6.75

12.14

-5.39

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MFEX.L vs. CS1.L - Sharpe Ratio Comparison

The current MFEX.L Sharpe Ratio is 1.51, which is lower than the CS1.L Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of MFEX.L and CS1.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

MFEX.LCS1.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.51

2.30

-0.79

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.32

1.16

-0.84

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.66

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.29

0.49

-0.19

Drawdowns

MFEX.L vs. CS1.L - Drawdown Comparison

The maximum MFEX.L drawdown since its inception was -31.42%, smaller than the maximum CS1.L drawdown of -38.87%. Use the drawdown chart below to compare losses from any high point for MFEX.L and CS1.L.

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Drawdown Indicators

MFEX.LCS1.LDifference

Max Drawdown

Largest peak-to-trough decline

-31.42%

-38.87%

+7.45%

Max Drawdown (1Y)

Largest decline over 1 year

-10.99%

-10.34%

-0.65%

Max Drawdown (3Y)

Largest decline over 3 years

-12.95%

-10.34%

-2.61%

Max Drawdown (5Y)

Largest decline over 5 years

-20.63%

-18.82%

-1.81%

Max Drawdown (10Y)

Largest decline over 10 years

—

-38.87%

—

Current Drawdown

Current decline from peak

-0.06%

-0.98%

+0.92%

Average Drawdown

Average peak-to-trough decline

-5.13%

-10.34%

+5.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.13%

3.07%

+0.06%

Volatility

MFEX.L vs. CS1.L - Volatility Comparison

Lyxor UCITS MSCI EMU (MFEX.L) and Amundi ETF MSCI Spain UCITS ETF EUR (C) (CS1.L) have volatilities of 4.53% and 4.68%, 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

MFEX.LCS1.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.53%

4.68%

-0.15%

Volatility (6M)

Calculated over the trailing 6-month period

11.46%

13.37%

-1.91%

Volatility (1Y)

Calculated over the trailing 1-year period

13.97%

16.14%

-2.17%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

257.72%

16.72%

+241.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

207.66%

18.48%

+189.18%

MFEX.L vs. CS1.L - Expense Ratio Comparison

MFEX.L has a 0.12% expense ratio, which is lower than CS1.L's 0.25% 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

MFEX.L vs. CS1.L - Dividend Comparison

MFEX.L's dividend yield for the trailing twelve months is around 3.02%, while CS1.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018
CS1.L
Amundi ETF MSCI Spain UCITS ETF EUR (C)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
MFEX.L
Lyxor UCITS MSCI EMU		3.02%3.27%2.82%2.56%87.78%48.73%40.59%3.30%0.44%

Frequently Asked Questions

MFEX.L and CS1.L have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, MFEX.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

MFEX.L is cheaper with a 0.12% expense ratio, compared with 0.25% for CS1.L.

MFEX.L tracks MSCI EMU NR EUR, while CS1.L tracks BME IBEX 35 NR EUR. Their fees differ too: 0.12% for MFEX.L and 0.25% for CS1.L.

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