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Amundi MSCI Europe Ex EMU ESG Selection UCITS ETF AccIndex, costs, backtest, listings and taxation

ISIN: FR0010821819Ticker: CU9Issuer: Amundi
Issuer-declared data
Declared index
MSCI Europe ex EMU ESG Selection P-Series 5% Issuer Capped Index
TER
0.30%
Transaction costs
0.15% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Replication
Income policy
SFDR
Article 8 — promotes environmental or social characteristics what does it mean?
Fund assets
224.1 mln EUR
NAV
419.71 EUR (1 September 2026)
Domicile
France
Inception date
15 December 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 Europe Ex EMU ESG Selection UCITS ETF Acc tracks the issuer-declared index: MSCI Europe ex EMU ESG Selection P-Series 5% Issuer Capped Index. The declared annual cost (TER) is 0.30%, plus 0.15% in transaction costs estimated by the issuer in the KID. Replication is direct physical replication; income is accumulated and reinvested in the fund. The fund has assets of about 224 million euro, was launched on 15 December 2009 and is domiciled in France.

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

The Fund is a passively managed UCITS. The Fund promotes environmental and/or social characteristics within the meaning of Article 8 of the Disclosure Regulation. By subscribing to Amundi MSCI Europe Ex EMU ESG Selection UCITS ETF, you are investing in a passively managed UCITS whose objective is to replicate as accurately as possible the performance of the MSCI Europe ex EMU ESG Selection P-Series 5% Issuer Capped 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 investment universe of the Index is identical to that of its parent index, the MSCI Europe ex EMU Index, which is designed to measure the overall performance of key securities on the markets of European countries that do not form part of the European Economic and Monetary Union. The Benchmark Index is built using a best-in-class approach; in other words, the companies with the highest ESG ratings in each sector (according to the Global Industry Classification Standard [GICS]) are selected to build the Benchmark Index. The best-in-class approach aims to favour the best-performing companies within a universe, sector or class. With this best-in-class filter, the Fund follows a significantly engaging non-financial approach that allows it to reduce the size of the Investment Universe by at least 20% (in terms of the number of issuers). The MSCI ESG rating methodology is based on rules designed to measure companies' resistance to material and persistent ESG risks within their sector. It is based on key ESG issues, focused on the tensions that may exist between a company's core business and issues specific to its business sector, which can generate significant risks as well as opportunities. Key ESG issues are weighted according to their impact and the expected longevity of the risk or opportunity. Key ESG issues include water stress, carbon emissions, personnel management or business ethics. The limits of this approach are described in the prospectus, citing risk factors such as risks related to sustainable investment. The ESG score of companies is calculated by an ESG rating agency using raw data, models and estimates collected and calculated using proprietary methods. Due to the lack of standardisation and the uniqueness of each methodology, the information provided may be incomplete. Assessment of sustainability risks is complex and may be based on ESG data that is difficult to obtain, incomplete, estimated, outdated and/or materially inaccurate. Even when identified, there is no guarantee that this data will be correctly assessed. The non-financial hedging rate represents more than 90% of the securities that comprise the Index. More information on the composition and operating rules of the Index can be found in the prospectus and on the MSCI website: https://www.msci.com In order to replicate the changes in the Index using the direct replication method, the Fund invests in financial securities included in the composition of the Index in proportions that are extremely close to those 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:As this is a non-distributing unit class, investment income is reinvested. 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 0.30%: above the median of equity ETFs we track (0.22%).
  • Average tracking difference over the last 3 years: -0.36% p.a., against a declared TER of 0.30%.
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
+85.6%
Annualised
+7.0%
Volatility (ann.)
14.7%
Max drawdown
-34.20%
-21%+8%+37%+66%+96%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%)+86%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%20172019202120232025−34.20% · 23 Mar 2020
Max drawdown
-34.20%
peak → trough
Trough
23 Mar 2020
from the 19 Feb 2020 peak
Recovery time
389 days
recovery only: trough to break-even · ≈ 1 year and 1 month
Underwater
422 days
decline + recovery: peak to break-even · ≈ 1 year and 2 months · → recovered on 16 Apr 2021

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
19 Feb 202023 Mar 2020-34.20%16 Apr 2021422
03 Mar 202509 Apr 2025-16.31%23 Dec 2025295
08 Apr 202229 Sept 2022-15.07%12 May 2023399
22 May 201827 Dec 2018-13.44%14 Mar 2019296
27 Feb 202620 Mar 2026-10.57%02 Jul 2026125

Calendar-year returns

2017
2.7%
2018
-8.6%
2019
26.2%
2020
-6.2%
2021
27.8%
2022
-6.7%
2023
12.6%
2024
7.7%
2025
8.5%
2026
6.4%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20263.23.3-9.34.61.53.21.20.1-1.06.4
20254.62.8-4.9-0.73.5-1.9-0.71.5-0.61.90.72.38.5
20240.90.53.40.23.80.61.91.6-0.8-4.22.7-2.87.7
20233.91.9-0.93.6-2.60.92.0-1.80.1-3.94.94.212.6
2022-2.9-0.82.40.7-2.1-6.47.8-4.8-6.34.65.4-3.5-6.7
2021-0.21.46.32.02.62.32.41.4-2.75.2-1.76.127.8
2020-0.8-9.1-11.35.81.21.1-1.42.3-1.0-4.410.62.7-6.2
20196.04.32.82.4-4.03.70.4-1.73.80.52.73.026.2
2018-0.1-4.0-1.94.31.8-0.52.7-1.81.4-4.2-0.9-5.2-8.6
2017-1.13.31.4-2.22.62.7
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 — fund vs index

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 8 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.36% /anno
Declared TER
0.30%
YearFundIndexDifference
2025+8.50%+8.68%-0.18%
2024+7.70%+8.24%-0.54%
2023+12.58%+12.94%-0.37%
2022-6.74%-6.42%-0.33%
2021+27.82%+28.33%-0.51%
2020-6.18%-5.77%-0.41%
2019+26.24%+26.66%-0.43%
2018-8.57%-8.29%-0.28%
Total-return figures from issuer-declared series (primary source); complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 yearsFull history
Volatility (ann.)12.08%12.03%12.91%14.52%
Max drawdown-10.57%-16.31%-16.31%-34.20%
Sharpe0.670.520.390.44
Sortino0.980.710.530.59
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
104
Top-10 weight
41.5%

Top 10 holdings

HSBC HOLDINGS PLC · HSBA LN
5.43%
NOVARTIS AG-REG · NOVN SE
5.08%
ASTRAZENECA GBP · AZN LN
4.93%
NOVO NORDISK A/S-B · NOVOB DC
4.87%
ABB LTD-REG · ABBN SE
4.35%
ZURICH INSURANCE GROUP AG · ZURN SE
4.20%
UNILEVER PLC LONDON · ULVR LN
4.11%
LLOYDS BANKING GROUP PLC · LLOY LN
3.38%
LONZA GROUP AG-REG · LONN SE
2.79%
SPOTIFY TECHNOLOGY SA · SPOT UN
2.34%

Sectors

Health Care
25.7%
Financials
25.5%
Industrials
21.3%
Consumer Staples
8.5%
Communication Services
5.6%
Materials
5.3%
Utilities
3.8%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerland: 32.6%ChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermanyDjiboutiDenmark: 10.7%Dominican RepublicAlgeriaEcuadorEgyptEritreaSpainEstoniaEthiopiaFinlandFijiFalkland IslandsFranceGabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIrelandIranIraqIcelandIsraelItalyJamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlandsNorway: 2.8%NepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSweden: 14.1%SwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of AmericaUzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United Kingdom39.8%
Switzerland32.6%
Sweden14.1%
Denmark10.7%
Norway2.8%
Download the full portfolio — Excel, 105 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.
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:

FR0010821819
  • Finecozero on buys (single orders and savings plan) — promo list renewed monthly: check it is still listed
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
Börse Düsseldorf17 Feb 2012
Börse Frankfurt23 May 2011
Börse Hamburg15 Jan 2014
Börse Hannover14 Dec 2022
Börse München / gettex4 Jul 2014
Börse Stuttgart8 Apr 2010
Euronext ParisCU914 Jan 2010
Tradegate Exchange7 Apr 2011
Xetra (Deutsche Börse)CU9GR7 Apr 2010
+ 22 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 Europe Ex EMU ESG Selection UCITS ETF Acc track?
The issuer Amundi declares the benchmark: MSCI Europe ex EMU ESG Selection P-Series 5% Issuer Capped Index.
How much does CU9 cost?
The issuer-declared TER is 0.30% per year; the transaction costs estimated in the KID are 0.15%.
What is the fund size of CU9?
The fund size declared by Amundi is about 224 million euro.
When was CU9 launched?
The fund was launched on 15 December 2009: it has 16 years of history.
How does CU9 replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Direct(Physical)”).
Does CU9 pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Capitalisation”).
Where does CU9 trade?
Per the official ESMA register it trades on 9 main exchanges, including Euronext Paris (CU9), Xetra (Deutsche Börse) (CU9GR).
What was CU9's worst fall?
Over the available history (since 2017), the maximum drawdown was -34.20%, reached in March 2020. Past performance is not indicative of future results.
What is CU9's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.36% per year versus its index (from issuer-declared series).
How many securities does CU9 hold?
The declared portfolio holds 104 securities; the top 10 positions weigh 41.5%.
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.