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Amundi PEA Immobilier Europe (FTSE EPRA/NAREIT) UCITS ETF AccIndex, costs, backtest, listings and taxation

ISIN: FR0011869304Ticker: PMEHIssuer: AmundiClass: UCITS ETF Acc
Issuer-declared data
Declared index
FTSE EPRA/NAREIT Developed Europe Net Return Index
TER
0.40%
Transaction costs
0.00% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Replication
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Sector (from holdings)
Real estate99.8% of the declared portfolio
Fund assets
28.5 mln EUR
NAV
12.68 EUR (1 September 2026)
Domicile
France
Inception date
13 May 2014
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 PEA Immobilier Europe (FTSE EPRA/NAREIT) UCITS ETF Acc tracks the issuer-declared index: FTSE EPRA/NAREIT Developed Europe Net Return Index. The declared annual cost (TER) is 0.40%, 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 28 million euro, was launched on 13 May 2014 and is domiciled in France. In our registry 1 other ETFs declare the same index.

The fund’s objective — in the issuer’s words(unofficial translation from French)

The fund is a passively managed index-tracking UCITS. The investment objective of the Fund is to replicate, both upward and downward, the evolution of the FTSE EPRA Nareit Developed Europe Index Net TRI (net dividends reinvested) (the "Index"), denominated in EUR, representative of the performance of European real estate sector shares, while minimising the tracking error between the performance of the Fund and that of its Index. The anticipated level of tracking error under normal market conditions is indicated in the Fund's prospectus. The Index is representative of companies listed in Europe active in the real estate sector, divided into two sub-sectors: - real estate investment companies, whatever their sub-segment (office parks, industrial parks, commercial, residential or diversified parks); - real estate management and development companies. The website of FTSE Limited (www.ftse.com) contains more detailed information about the Index. The Fund seeks to achieve its objective via indirect replication, namely by entering into one or more over-the-counter swap contracts (forward financial instruments, "FFIs"). The Fund may invest in a diversified portfolio of international equities, whose performance will be exchanged for that of the Benchmark Index by means of FFIs. The updated composition of the portfolio of securities held by the Fund is shown on the website amundietf.com. In addition, the indicative net asset value appears on the Fund's Reuters and Bloomberg pages and may also be mentioned on the websites of the stock exchanges where the Fund is listed. The Fund is eligible for the French Plan d'Épargne en Actions (PEA) and consequently invests a minimum of 75 % of its assets in shares of European Union companies.

Keep reading the KID section ▾

Intended Retail Investor:This product is intended for investors with basic knowledge of and/or no or limited experience of investing in funds, who aim to increase the value of their investment over the recommended holding period and are able to bear losses up to the 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 Dealing: the Fund's units are listed and traded on one or more stock exchanges. In normal circumstances, you may deal in units during the trading hours of the exchange. Only authorised participants (e.g. selected financial institutions) may deal in 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: you may obtain further information about this product, including the prospectus and financial reports, free of charge upon request from: Amundi Asset Management - 91-93 boulevard Pasteur, 75015 Paris, France.

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

Quick reads

  • TER 0.40%: above the median of equity ETFs we track (0.22%).
  • Average tracking difference over the last 3 years: -0.25% p.a., against a declared TER of 0.40%.
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 French, from the issuer’s site — always the latest filed versionProspectusPDF in Italian, from the issuer’s site — the fund’s full legal documentFactsheetPDF in French, 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 May 2014 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+26.0%
Annualised
+1.9%
Volatility (ann.)
19.5%
Max drawdown
-46.47%
-8%+14%+37%+59%+82%May 2014Jun 2017Jul 2020Aug 2023Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+26%May 2014Sept 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%2014201620182020202220242026−46.47% · 12 Oct 2022
Max drawdown
-46.47%
peak → trough
Trough
12 Oct 2022
from the 16 Aug 2021 peak
Recovery time
not yet
recovery only: trough to break-even
Underwater
1,849 days
decline + recovery: peak to break-even · ≈ 5 years and 1 month · (ongoing)

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
16 Aug 202112 Oct 2022-46.47%ongoing1,849
19 Feb 202018 Mar 2020-41.78%05 Aug 2021533
29 Oct 201511 Feb 2016-17.86%18 Dec 2017781
29 Aug 201827 Dec 2018-13.55%01 Apr 2019215
18 Aug 201524 Aug 2015-10.99%28 Oct 201571

Calendar-year returns

2016
-5.3%
2017
12.5%
2018
-8.4%
2019
28.4%
2020
-10.8%
2021
17.6%
2022
-37.0%
2023
16.1%
2024
-3.8%
2025
5.5%
2026
-0.7%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20263.57.2-14.05.40.90.82.9-4.4-1.3-0.7
20252.7-0.1-3.75.73.90.4-3.8-1.0-0.11.10.9-0.25.5
2024-2.9-7.88.5-2.05.4-3.43.63.84.5-8.31.1-4.8-3.8
20238.9-1.1-11.55.6-7.5-1.49.1-1.0-3.6-3.513.910.516.1
2022-2.8-3.20.8-5.7-4.2-15.912.4-10.8-16.73.72.4-1.6-37.0
2021-2.7-1.23.54.94.00.56.62.6-8.55.50.31.817.6
20201.7-7.5-21.43.61.51.01.02.1-1.7-4.312.73.8-10.8
201910.3-1.24.1-1.0-0.4-2.90.53.34.53.12.53.028.4
2018-1.0-5.63.54.30.50.31.20.5-3.0-3.1-0.9-4.9-8.4
2017-3.34.50.23.62.0-1.9-0.40.41.11.00.74.212.5
2016-5.2-3.15.90.03.2-6.16.00.1-2.4-6.9-0.95.1-5.3
201513.45.5-0.2-2.0-0.8-4.56.9-3.40.27.9-1.3-3.517.8
20140.80.02.7-2.12.63.71.710.4
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 4 of the last 10 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.25% /anno
Declared TER
0.40%
YearFundIndexDifference
2025+5.54%+5.82%-0.27%
2024-3.82%-3.56%-0.27%
2023+16.12%+16.34%-0.22%
2022-37.03%-37.04%+0.01%
2021+17.59%+17.55%+0.04%
2020-10.78%-10.74%-0.04%
2019+28.43%+28.51%-0.07%
2018-8.44%-8.49%+0.05%
2017+12.49%+12.43%+0.05%
2016-5.30%-5.28%-0.02%
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 yearsLast 10 yearsFull history
Volatility (ann.)15.40%18.23%21.34%19.36%19.25%
Max drawdown-15.59%-21.34%-46.16%-46.47%-46.47%
Sharpe0.050.23-0.270.010.14
Sortino0.070.33-0.380.020.19
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
36
Top-10 weight
56.2%

Top 10 holdings

DEUTSCHE TELEKOM NAMEN (XETRA) · DTE GY
8.92%
THYSSEN KRUPP AG · TKA GY
7.96%
SIEMENS AG-REG · SIE GY
7.48%
ALMONTY INDUSTRIES INC USD · ALM UR
4.60%
TE CONNECTIVITY PLC · TEL UN
4.58%
ARGENX SE · ARGX BB
4.57%
NORDEA BANK ABP · NDA FH
4.56%
NORSK HYDRO ASA NOK20 · NHY NO
4.56%
AGEAS · AGS BB
4.49%
NN GROUP NV · NN NA
4.49%
Download the full portfolio — Excel, 37 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 →

ETFs declaring the same index

FundTERIncomeFund size
C8R · Amundi · 2 classes
0.30%Dist. · Acc.71 mln EUR
2 ETFs in our census declare this index (including this fund). Funds declaring the exact same index, word for word, in official product lists. Differently-worded variants (or other index versions) are not shown: a short list beats a wrong match. Sorted by TER. A dash “—” = not declared by the issuer in the files we read — not a zero.

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:

FR0011869304
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
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 DüsseldorfL8IJ7 Sept 2017
Börse HamburgL8IJ15 Feb 2021
Börse HannoverL8IJ16 Jan 2026
Börse StuttgartL8IJ23 Feb 2026
Euronext ParisPMEH17 Jun 2014
Tradegate ExchangeL8IJ13 Nov 2023
+ 19 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 PEA Immobilier Europe (FTSE EPRA/NAREIT) UCITS ETF Acc track?
The issuer Amundi declares the benchmark: FTSE EPRA/NAREIT Developed Europe Net Return Index.
How much does PMEH cost?
The issuer-declared TER is 0.40% per year; the transaction costs estimated in the KID are 0.00%.
What is the fund size of PMEH?
The fund size declared by Amundi is about 28 million euro.
When was PMEH launched?
The fund was launched on 13 May 2014: it has 12 years of history.
How does PMEH replicate its index?
It is a passively managed ETF: it follows the declared index. Synthetic (swap) (issuer wording: “Indirect(Swap Based)”).
Does PMEH pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Capitalisation”).
Where does PMEH trade?
Per the official ESMA register it trades on 6 main exchanges, including Börse Düsseldorf (L8IJ), Börse Hamburg (L8IJ), Börse Hannover (L8IJ), Börse Stuttgart (L8IJ), Euronext Paris (PMEH), Tradegate Exchange (L8IJ).
What was PMEH's worst fall?
Over the available history (since 2014), the maximum drawdown was -46.47%, reached in October 2022. Past performance is not indicative of future results.
What is PMEH's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.25% per year versus its index (from issuer-declared series).
How many securities does PMEH hold?
The declared portfolio holds 36 securities; the top 10 positions weigh 56.2%.
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.