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Amundi EURO STOXX 50 II UCITS ETF CHF Hedged AccIndex, costs, backtest, listings and taxation

ISIN: FR0012399731Ticker: 0XDO (London SE) · MSEC (SIX)Issuer: AmundiClass: CHF Hedged Acc Currency hedging: CHF-hedged share class
Issuer-declared data
Declared index
EURO STOXX 50 Net Return EUR
TER
0.20%
Transaction costs
0.02% (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?
Fund assets
110.7 mln EUR
NAV
213.22 CHF (1 September 2026)
Domicile
France
Inception date
19 September 2018
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 EURO STOXX 50 II UCITS ETF CHF Hedged Acc tracks the issuer-declared index: EURO STOXX 50 Net Return EUR. Mind the share class: this is the version hedged to CHF — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.20%, plus 0.02% 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 111 million euro, was launched on 19 September 2018 and is domiciled in France. In our registry 2 other ETFs declare the same index.

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

The Fund is a passively managed index-based UCITS. The Fund's objective is to replicate the performance, both upwards and downwards, of the EURO STOXX 50 Net Return Index (net dividends reinvested) (the "Benchmark"), denominated in euro (EUR) and representative of 50 investment grade Eurozone securities, while minimising the tracking error between the Fund's performance and that of the Benchmark. The expected level of the Tracking Error under normal market conditions is indicated in the Fund prospectus. The website http://www.stoxx.com/indices provides more detailed information about the Benchmark. The Fund aims to achieve its objective through direct replication, i.e. by primarily investing in a basket of assets consisting of the securities comprising the Benchmark and/or eligible financial instruments representing all or part of the securities comprising the Benchmark. In order to optimise Benchmark replication, the Fund may use a sampling technique, as well as guaranteed temporary sales of securities. Any use of these techniques is indicated on the website amundietf.com. The updated composition of the portfolio of securities held by the Fund is mentioned 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 Fund's stock exchange websites. The Fund is eligible for the French Plan d'Epargne en Actions (PEA) and, consequently, invests a minimum of 75% of its assets in the shares of European Union countries. In order to hedge the currency risk of the share class against that of the Index, the Fund uses a hedging strategy that reduces the impact of variations between the Index currency and the share class currency.

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 Sub-fund's shares are listed and traded on one or more stock exchanges. Under normal circumstances, you can trade shares during stock exchange trading hours. Only authorised participants (e.g. selected financial institutions) can trade shares directly with the Subfund on the primary market. Further details are provided in the MULTI UNITS FRANCE prospectus.

Distribution Policy:As this is a non-distributing share 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

  • Average tracking difference over the last 3 years: +0.28% p.a., against a declared TER of 0.20%.
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) · CHF · from May 2015 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+113.6%
Annualised
+7.0%
Volatility (ann.)
18.9%
Max drawdown
-38.01%
-29%+10%+49%+87%+126%May 2015Mar 2018Jan 2021Nov 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%)+114%May 2015Sept 2026
Note — currency risk: the fund is denominated (or hedged) in CHF and the chart is in CHF. For a euro investor, returns also depend on the EUR/CHF exchange rate, up or down.
Currency-hedged share class: our figures are computed on the issuer’s NAV, where the hedge is applied at the daily fixing. Comparison sites using the exchange price may show returns and volatility that differ by 1–2 points: on hedged classes the price-vs-NAV gap is structurally wider and grows with the length of the window. Not a data error — a measurement convention. Details in the methodology.
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%201520172019202120232025−38.01% · 18 Mar 2020
Max drawdown
-38.01%
peak → trough
Trough
18 Mar 2020
from the 19 Feb 2020 peak
Recovery time
356 days
recovery only: trough to break-even · ≈ 12 months
Underwater
384 days
decline + recovery: peak to break-even · ≈ 1 year and 1 month · → recovered on 09 Mar 2021

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
19 Feb 202018 Mar 2020-38.01%09 Mar 2021384
20 Jul 201511 Feb 2016-27.26%24 Apr 2017644
16 Nov 202129 Sept 2022-23.33%15 Feb 2023456
01 Nov 201727 Dec 2018-18.26%03 Jul 2019609
03 Mar 202509 Apr 2025-16.44%19 Aug 2025169

Calendar-year returns

2016
3.5%
2017
8.9%
2018
-12.0%
2019
28.2%
2020
-2.8%
2021
23.4%
2022
-9.4%
2023
20.2%
2024
9.0%
2025
18.9%
2026
10.9%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20262.63.1-9.46.23.74.50.40.8-0.610.9
20257.93.3-4.1-1.35.1-1.30.30.53.22.30.12.018.9
20242.84.94.2-2.62.0-1.8-0.51.60.7-3.5-0.51.79.0
20239.81.81.91.5-2.14.11.5-4.0-3.0-2.87.83.020.2
2022-2.8-5.9-0.3-2.01.1-8.87.3-5.1-5.59.29.5-4.5-9.4
2021-1.94.57.91.82.40.60.72.6-3.35.1-4.35.823.4
2020-2.7-8.4-16.15.34.96.5-1.63.2-2.3-7.318.11.8-2.8
20195.54.41.85.4-5.36.0-0.1-1.14.21.12.81.128.2
20183.1-4.6-2.25.9-2.2-0.23.9-3.70.3-6.0-0.8-5.3-12.0
2017-1.82.85.62.01.2-3.00.1-0.75.12.3-2.8-1.88.9
2016-6.7-3.32.01.32.6-5.94.41.1-0.71.8-0.07.83.5
2015-3.95.2-9.4-5.110.22.6-6.8-10.6
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 10 of the last 10 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
+0.28% /anno
Declared TER
0.20%
YearFundIndexDifference
2025+18.89%+18.54%+0.35%
2024+8.97%+8.65%+0.32%
2023+20.18%+20.02%+0.16%
2022-9.40%-9.49%+0.09%
2021+23.44%+23.12%+0.32%
2020-2.78%-2.98%+0.19%
2019+28.17%+27.90%+0.27%
2018-11.96%-12.19%+0.24%
2017+8.95%+8.70%+0.25%
2016+3.53%+3.33%+0.20%
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.)15.99%14.98%16.83%17.25%18.24%
Max drawdown-11.41%-15.62%-19.22%-37.57%-37.57%
Sharpe1.070.810.660.620.44
Sortino1.701.200.960.870.62
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: 2.20%), 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 — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Portfolio holdings

Securities in portfolio
57
Top-10 weight
42.0%

Top 10 holdings

ASML HOLDING NV · ASML NA
8.64%
SIEMENS AG-REG · SIE GY
4.60%
SAP SE / XETRA · SAP GY
4.20%
BANCO SANTANDER SA MADRID · SAN SM
4.17%
TOTALENERGIES SE PARIS · TTE FP
3.98%
ALLIANZ SE-REG · ALV GY
3.87%
SCHNEIDER ELECT SE · SU FP
3.75%
BANCO BILBAO VIZCAYA ARGENTA · BBVA SM
3.16%
UNICREDIT SPA · UCG IM
2.83%
IBERDROLA SA · IBE SM
2.82%

Sectors

Financials
28.8%
Industrials
21.4%
Information Technology
14.5%
Consumer Discretionary
9.4%
Health Care
5.4%
Consumer Staples
5.2%
Energy
5.1%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustriaAzerbaijanBurundiBelgium: 2.8%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 30%DjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 11.6%EstoniaEthiopiaFinland: 1.4%FijiFalkland IslandsFrance: 31.9%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIrelandIranIraqIcelandIsraelItaly: 8.8%JamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 13.4%NorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast 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
France31.9%
Germany30%
Netherlands13.4%
Spain11.6%
Italy8.8%
Belgium2.8%
Finland1.4%
Download the full portfolio — Excel, 58 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 →

ETFs declaring the same index

FundTERIncomeFund size
C50 · Amundi · 3 classes
0.09%Dist. · Acc.4.1 mld EUR
MSES · Amundinot on Borsa Italiana
0.20%Acc.5 mln EUR
3 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.

Italian taxation

Effective rate on capital gains
26.00%
White-list share
0.00%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

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:

FR0007054358MSE
  • BG Saxozero within the savings plan (buys)
  • 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
  • Moneyfarmzero on single buys from 1,000 €, agreement until 15 May 2027
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
FR0012399772NK4B
  • 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 HamburgMSEC15 Feb 2021
Börse HannoverMSEC22 Oct 2025
Tradegate ExchangeMSEC16 Oct 2025
+ 2 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 EURO STOXX 50 II UCITS ETF CHF Hedged Acc track?
The issuer Amundi declares the benchmark: EURO STOXX 50 Net Return EUR.
How much does MSEC cost?
The issuer-declared TER is 0.20% per year; the transaction costs estimated in the KID are 0.02%.
How is MSEC taxed in Italy?
On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.00%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of MSEC?
The fund size declared by Amundi is about 111 million euro.
When was MSEC launched?
The fund was launched on 19 September 2018: it has 7 years of history.
How does MSEC replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Direct(Physical)”).
Does MSEC pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Capitalisation”).
Where does MSEC trade?
Per the official ESMA register it trades on 3 main exchanges, including Börse Hamburg (MSEC), Börse Hannover (MSEC), Tradegate Exchange (MSEC).
What was MSEC's worst fall?
Over the available history (since 2015), the maximum drawdown was -38.01%, reached in March 2020. Past performance is not indicative of future results.
What is MSEC's tracking difference?
Over the last 3 complete calendar years the fund returned on average +0.28% per year versus its index (from issuer-declared series).
How many securities does MSEC hold?
The declared portfolio holds 57 securities; the top 10 positions weigh 42%.
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.