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Amundi MSCI World Ex EMU UCITS ETF AccIndex, costs, backtest, listings and taxation

ISIN: FR0010756114Ticker: CM9Issuer: Amundi
Issuer-declared data
Declared index
MSCI Daily Net TR World Ex EMU Euro
TER
0.35%
Transaction costs
0.00% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Replication
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
979.2 mln EUR
NAV
726.32 EUR (1 September 2026)
Domicile
France
Inception date
16 June 2009
Data as declared by Amundi in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

Amundi MSCI World Ex EMU UCITS ETF Acc tracks the issuer-declared index: MSCI Daily Net TR World Ex EMU Euro. The declared annual cost (TER) is 0.35%, plus 0.00% in transaction costs estimated by the issuer in the KID. Replication is synthetic replication (swap based); income is accumulated and reinvested in the fund. The fund has assets of about 979 million euro, was launched on 16 June 2009 and is domiciled in France.

The fund’s objective — in the issuer’s words

By subscribing to Amundi MSCI World Ex EMU UCITS ETF (the "Fund"), you are investing in a passively managed UCITS whose objective is to replicate as closely as possible the performance of the MSCI World ex EMU index (the "Index") regardless of whether it experiences a positive or negative development. The maximum tracking error objective between the growth of the net asset value of the Fund and that of the Index is indicated in the Fund's prospectus. The Index, net dividends reinvested (dividends net of tax paid by the shares in the Index are included in the Index calculation), denominated in euro, is calculated and published by the index provider MSCI. You are exposed to currency risk between the currencies of the equities that make up the Index and the currency of the Fund. The equities included in the composition of the MSCI World ex EMU index are derived from the universe of the most important securities on the equity markets of developed countries outside the European Economic and Monetary Union. More information on the composition and operating rules of the Index can be found in the prospectus and on msci.com. The Index is available via Reuters (.dMIWOM0000NEU) and Bloomberg (MSDEWEMN). In order to replicate the Index, the UCITS exchanges the performance of the assets held by the Fund for that of the Index by entering into forward foreign exchange contracts or total return swaps (a forward financial instrument, "TRS") (synthetic replication of the Index).

Keep reading the KID section ▾

Intended retail investors:This product is intended for investors with a basic knowledge and/or no or limited experience of investing in funds, who are seeking to increase the value of their investment over the recommended holding period and who are able to bear a loss of up to the full amount invested. The product is not open to residents of the United States of America/"U.S. Person" (the definition of "U.S. Person" is available on the Management Company's website www.amundi.com and/or in the prospectus). Redemption and transaction: The Fund's units are listed and traded on one or more stock exchanges. Under normal circumstances, you can trade units during trading hours. Only authorised participants (e.g. selected financial institutions) can trade units directly with the Fund on the primary market. Further details are provided in the Fund's prospectus.

Distribution Policy:In accordance with the prospectus, income and capital gains from sales may be capitalised or distributed at the discretion of the Management Company. More information: Further information regarding this product, including the prospectus and financial reports, is available free of charge on request from: Amundi Asset Management, 91-93 boulevard Pasteur, 75015 Paris, France.

From the KID’s “Objectives” section · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.35%: above the median of equity ETFs we track (0.22%).
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · EUR · from Jul 2017 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+196.5%
Annualised
+12.6%
Volatility (ann.)
16.2%
Max drawdown
-33.57%
-9%+46%+102%+157%+212%Jul 2017Oct 2019Feb 2022May 2024Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+196%Jul 2017Sept 2026
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-10%-20%-30%-40%-50%20172019202120232025−33.57% · 23 Mar 2020
Max drawdown
-33.57%
peak → trough
Trough
23 Mar 2020
from the 19 Feb 2020 peak
Recovery time
290 days
recovery only: trough to break-even · ≈ 10 months
Underwater
323 days
decline + recovery: peak to break-even · ≈ 11 months · → recovered on 07 Jan 2021

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
19 Feb 202023 Mar 2020-33.57%07 Jan 2021323
19 Feb 202508 Apr 2025-21.04%08 Oct 2025231
03 Jan 202220 Jun 2022-16.72%14 Sept 2023619
03 Oct 201824 Dec 2018-16.67%29 Mar 2019177
16 Jul 202405 Aug 2024-9.22%04 Oct 202480

Calendar-year returns

2017
4.9%
2018
-3.4%
2019
30.0%
2020
6.7%
2021
31.8%
2022
-13.0%
2023
19.5%
2024
28.1%
2025
5.2%
2026
14.2%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.71.3-3.67.85.21.1-0.11.6-0.214.2
20252.8-1.1-8.5-4.56.11.04.10.32.84.0-0.3-0.75.2
20243.04.83.3-2.82.93.90.80.21.01.18.1-0.828.1
20234.8-0.20.6-0.03.03.62.3-0.6-1.8-2.75.83.719.5
2022-4.0-2.54.1-3.4-1.7-6.211.0-2.7-7.06.12.1-8.0-13.0
2021-0.22.56.72.2-0.45.01.83.0-2.36.00.93.031.8
20200.9-7.6-12.711.63.01.3-0.45.7-1.5-2.19.11.96.7
20197.53.72.93.5-5.24.23.1-1.03.10.04.11.130.0
20181.2-1.9-3.22.74.90.02.82.40.8-4.91.4-8.8-3.4
2017-0.82.63.50.00.84.9
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Source: Amundi. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — issuer-declared

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 0 of the last 10 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.17% /anno
Declared TER
0.35%
YearFundIndexDifference
2025+5.22%+5.37%-0.15%
2024+28.10%+28.26%-0.16%
2023+19.48%+19.67%-0.19%
2022-12.99%-12.81%-0.18%
2021+31.77%+32.04%-0.27%
2020+6.72%+7.21%-0.49%
2019+29.96%+30.58%-0.62%
2018-3.36%-2.92%-0.44%
2017+6.46%+6.88%-0.43%
2016+11.50%+11.57%-0.07%
Figures declared by the issuer on the fund page (net fund and index returns per calendar year, as of 19 August 2026), not computed by us. Partial years excluded. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 yearsFull history
Volatility (ann.)10.80%13.36%14.55%16.01%
Max drawdown-6.54%-21.04%-21.04%-33.57%
Sharpe1.551.000.640.73
Sortino2.241.400.891.00
Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.21%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR, the fund's currency; the table follows the currency selected in the chart.

Portfolio holdings

Securities in portfolio
65
Top-10 weight
59.7%

Top 10 holdings

NVIDIA CORP · NVDA UW
8.68%
AMAZON.COM INC · AMZN UW
8.43%
APPLE INC · AAPL UW
8.29%
TESLA INC · TSLA UW
8.14%
MICRON TECHNOLOGY INC · MU UW
5.08%
META PLATFORMS INC-CLASS A · META UW
4.53%
MICROSOFT CORP · MSFT UW
4.42%
SCHWAB (CHARLES) CORP · SCHW UN
4.29%
COSTCO WHOLESALE CORP · COST UW
3.93%
AIRBNB INC-CLASS A · ABNB UW
3.90%
Download the full portfolio — Excel, 66 rows
Full portfolio declared by Amundi, as of 1 September 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding. Synthetic replication: the list shows the substitute basket (securities held as swap collateral), which can differ substantially from the replicated index. The fund’s economic exposure is that of its declared index.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

FR0010756114
  • Directazero within the savings plan (buys)
  • Finecozero on buys (single orders and savings plan) — promo list renewed monthly: check it is still listed
  • Moneyfarmzero within the savings plan (buys), agreement until 15 May 2027
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 3 September 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

ExchangeTickerTrading since
Borsa Italiana (ETFplus)CM920 Apr 2010
Börse Düsseldorf17 Feb 2012
Börse Frankfurt23 May 2011
Börse Hamburg1 Aug 2016
Börse Hannover9 Dec 2024
Börse München / gettex22 Dec 2010
Börse Stuttgart8 Mar 2010
Euronext ParisCM926 Jun 2009
Tradegate Exchange13 Apr 2011
Xetra (Deutsche Börse)CM9GR23 Feb 2010
+ 24 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does Amundi MSCI World Ex EMU UCITS ETF Acc track?
The issuer Amundi declares the benchmark: MSCI Daily Net TR World Ex EMU Euro.
How much does CM9 cost?
The issuer-declared TER is 0.35% per year; the transaction costs estimated in the KID are 0.00%.
What is the fund size of CM9?
The fund size declared by Amundi is about 979 million euro.
When was CM9 launched?
The fund was launched on 16 June 2009: it has 17 years of history.
How does CM9 replicate its index?
It is a passively managed ETF: it follows the declared index. Synthetic (swap) (issuer wording: “Indirect(Swap Based)”).
Does CM9 pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Capitalisation and/or distribution”).
Where does CM9 trade?
Per the official ESMA register it trades on 10 main exchanges, including Borsa Italiana (ETFplus) (CM9), Euronext Paris (CM9), Xetra (Deutsche Börse) (CM9GR).
What was CM9's worst fall?
Over the available history (since 2017), the maximum drawdown was -33.57%, reached in March 2020. Past performance is not indicative of future results.
How many securities does CM9 hold?
The declared portfolio holds 65 securities; the top 10 positions weigh 59.7%.
Transparency note
The data in this sheet is declared by Amundi in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.