ETF sheet · Issuer-declared data

🇮🇹 Effective capital-gains rate: 26.00%details →

Amundi Smart Overnight Return UCITS ETF AccIndex, costs, backtest, listings and taxation

ISIN: LU1190417599Ticker: SMART (Borsa Italiana) · LYOR (Xetra) · CSH2 (Euronext Paris) · CSH2 (SIX)Issuer: AmundiClass: UCITS ETF Acc

North America Money market tracking the ESTR Compounded Index, synthetic (swap) replication, accumulating. Share class in euro (EUR).

0.10% + 0.00%

TER + KID transaction costs ✓ declared by the issuer

523

rows published by the issuer · holdings ↓ ✓ declared by the issuer

7.1 bn €

share-class assets ✓ declared by the issuer

+0.20 pt /year

average tracking difference 2023–2025 · year by year ↓ ≈ computed by Rebalix

Every figure carries its provenance: ✓ declared by the issuer in its documents · ≈ computed by Rebalix on the declared data.

Fund

Name

Amundi Smart Overnight Return UCITS ETF Acc

Declared index

ESTR Compounded Index

Management

Passive (index-tracking) (from the KID)

Replication

Synthetic (swap)

SFDR

Article 6 — does not promote specific ESG characteristics what does it mean?

Domicile

Luxembourg

Share class · this page

ISIN

LU1190417599 · UCITS ETF Acc

Ticker

SMART (Borsa Italiana) · LYOR (Xetra) · CSH2 (Euronext Paris) · CSH2 (SIX)

Share-class currency

euro (EUR)

TER

0.10%

Transaction costs

0.00% (issuer estimate, from the KID)

Income policy

Accumulating

Share-class assets

7.1 bn EUR

NAV

110.24 EUR (15 October 2026)

Share-class launch

7 March 2025

Data as declared by Amundi in the issuer’s official files and endpoints · collected on 17 October 2026 (monthly refresh). Facts only, no recommendation.

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OverviewIn this sectionQuick reads Fund objective What changed over time Tax

Quick reads

Assetslarger than 91% of money-market ETFs we track.≈ computed by Rebalix
Average tracking difference over the last 3 years+0.20% p.a., against a declared TER of 0.10%.≈ computed by Rebalix
523 rowspublished by the issuer; completeness of the list not declared✓ declared by the issuer
Top 10 = 36.8%of the fund✓ declared by the issuer
Effective rate 26.00%on capital gains for Italian tax residents: from the declared white-list share≈ computed by Rebalix

✓ declared by the issuer · ≈ computed by Rebalix on the declared data in our census. They describe the past and are not indicative of future results.

Description and fund objective

Amundi Smart Overnight Return UCITS ETF Acc tracks the issuer-declared index: ESTR Compounded Index. The declared annual cost (TER) is 0.10%, 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 7.1 billion euro, was launched on 7 March 2025 and is domiciled in Luxembourg. In our registry it is the largest by assets among the 4 ETFs declaring the same index.

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

This Sub-Fund is passively managed. The investment objective of the Sub-Fund is to reflect the performance of the euro short-term rate (“€STR”) compounded rate (the “Benchmark Index”) and to minimize the tracking error between the net asset value of the Sub-Fund and the performance of the Benchmark Index.
Keep reading the KID section ▾
The anticipated level of the tracking error, under normal market conditions is indicated in the prospectus of the Sub-Fund. The euro short-term rate (€STR) reflects the wholesale euro unsecured overnight borrowing costs of banks located in the Euro area. The €STR is published on each Business Day based on transactions conducted and settled on the previous Business Day (the reporting date “T”) with a maturity date of T+1 which are deemed to have been executed at arm’s length and thus reflect market rates in an unbiased way. The daily compounded €STR is calculated and published by the European Central Bank (ECB). The ECB reviews the €STR methodology and publishes a report every year. Updated composition of the Sub-Fund holdings is available on www.amundietf.com. In addition, the indicative net asset value is published on the Reuters and Bloomberg pages of the Sub-Fund, and might also be mentioned on the websites of the stock exchanges where the Sub-Fund is listed. The Sub-Fund will apply an Indirect Replication methodology to get exposition to the Benchmark Index. The Sub-Fund will invest into an investment portofolio, consisting of transferable securities or units or shares of UCITS, financial derivative instruments (in particular total return swap, currency forwards and currency swaps transactions strictly designed to hedge currency risks, interest rate swaps transactions aiming at reducing interest rate risks). The Sub-Fund may receive collateral from credit institutions to reduce part or all of the counterparty risks, or derivatives traded with such credit institutions. More information about the investment portfolio or the investment strategy of the Sub-Fund is detailed in the Prospectus of the Sub-Fund.
Intended Retail Investor:This product is intended for investors, with a basic knowledge of and no or limited experience of investing in funds seeking to preserve some or all of the capital invested over the recommended holding period with the ability to bear losses up to the amount invested.
Redemption and Dealing:The Sub-Fund's shares are listed and traded on one or more stock exchanges. In normal circumstances, you may deal in shares during the trading hours of the stock exchanges. Only authorised participants (e.g., selected financial institutions) may deal in shares directly with the Sub-Fund on the primary market. Further details are provided in the MULTI UNITS LUXEMBOURG prospectus.
Distribution policy:As this is a non-distributing share class, investment income is reinvested. the accumulation share automatically retains, and reinvests, all attributable income within the Sub-Fund; thereby accumulating value in the price of the accumulation shares.
More Information:You may get further information about the Sub-Fund, including the prospectus, and financial reports which are available at and free of charge on request from: Amundi Luxembourg S.A. at 5, allée Scheffer 2520 Luxembourg, Luxembourg.

From the KID’s “Objectives” section · KID acquired on 4 August 2026 · original document ↓

Text generated from the data the issuer declares in official product lists. No recommendation.

What has changed in the fund over time

Every month we snapshot the register and the holdings and keep the picture. The history shows how the fund changes, not only what it is today.

Share-class launch
7 March 2025
declared by the issuer
Basket snapshots
2 monthly
since September 2026
Dated events
none so far
TER, index, name, tax: every change is an event

Open the history →

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 →

PerformanceIn this sectionChart Backtest Tracking difference

Fund performance

issuer-declared net asset value (NAV) · EUR · from Mar 2015 to Oct 2026

Adjusted for inflationCompare with the index

Compare with another ETF

Only funds we hold a history for. Three at a time, at most.

Return

+10.2%

Annualised

+0.8%

Volatility (ann.)

0.1%

Max drawdown

-2.37%

02 Mar 2015 → 15 Oct 202611 years and 7 months · +10.2%

Accumulating class: income is reinvested inside the fund and already reflected in the NAV; no distribution is left out of the chart.

Calculations on the NAV: issuer total-return series not available.

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.

Max drawdown

-2.37%

peak → trough

Trough

27 Jul 2022

from the 08 Feb 2016 peak

Recovery time

408 days

recovery only: trough to break-even · ≈ 1 year and 1 month

Underwater

2,769 days

decline + recovery: peak to break-even · ≈ 7 years and 7 months · → recovered on 08 Sept 2023

Calendar-year returns

2016

-0.2%

2017

-0.3%

2018

-0.3%

2019

-0.4%

2020

-0.4%

2021

-0.5%

2022

0.1%

2023

3.3%

2024

4.0%

2025

2.6%

2026

2.0%

2015, partial: the available series starts on 2 March 2015; the return runs from that date to 31 December 2015 and is not comparable with a full year.

Month-by-month returns

2026Year 2.0%

Jan

0.2

Feb

0.2

Mar

0.2

Apr

0.2

May

0.2

Jun

0.2

Jul

0.2

Aug

0.2

Sept

0.2

Oct

0.1

Nov

Dec

2025Year 2.6%

Jan

0.3

Feb

0.2

Mar

0.2

Apr

0.2

May

0.2

Jun

0.2

Jul

0.2

Aug

0.2

Sept

0.2

Oct

0.2

Nov

0.2

Dec

0.2

2024Year 4.0%

Jan

0.3

Feb

0.3

Mar

0.4

Apr

0.3

May

0.4

Jun

0.3

Jul

0.3

Aug

0.3

Sept

0.3

Oct

0.3

Nov

0.3

Dec

0.3

2023Year 3.3%

Jan

0.2

Feb

0.2

Mar

0.2

Apr

0.2

May

0.3

Jun

0.3

Jul

0.3

Aug

0.3

Sept

0.3

Oct

0.3

Nov

0.3

Dec

0.3

2022Year 0.1%

Jan

-0.0

Feb

-0.0

Mar

-0.0

Apr

-0.0

May

-0.0

Jun

-0.0

Jul

-0.0

Aug

0.0

Sept

0.0

Oct

0.1

Nov

0.1

Dec

0.1

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sept	Oct	Nov	Dec	Year
2026	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.1			2.0
2025	0.3	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	2.6
2024	0.3	0.3	0.4	0.3	0.4	0.3	0.3	0.3	0.3	0.3	0.3	0.3	4.0
2023	0.2	0.2	0.2	0.2	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	3.3
2022	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	0.0	0.0	0.1	0.1	0.1	0.1
2021	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.5
2020	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.4
2019	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.4
2018	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.3
2017	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.3
2016	0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.0	-0.2
2015				0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1(partial)

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.

Method and sources

Source: Amundi. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available August 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.

Rejoined series: the issuer’s historical data contains a unit redenomination (28 June 2021), not retroactively adjusted; we rejoined the earlier history to make it comparable. Returns and risk are computed on the rejoined series.

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 8 of the last 10 calendar years: a past observation, not an indication of future outperformance.

Average annual TD, 2023–2025

+0.20 pt /year

Declared TER

0.10%

Year	Fund	Index	Difference (pt)
2025	+2.65%	+2.24%	+0.41 pt
2024	+3.98%	+3.79%	+0.19 pt
2023	+3.29%	+3.29%	+0.00 pt
2022	+0.13%	+0.01%	+0.12 pt
2021	-0.46%	-0.49%	+0.03 pt
2020	-0.43%	-0.47%	+0.04 pt
2019	-0.42%	-0.40%	-0.03 pt
2018	-0.35%	-0.37%	+0.02 pt
2017	-0.29%	-0.36%	+0.07 pt
2016	-0.19%	-0.32%	+0.13 pt

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. 9 years in the table precede the launch date recorded by the issuer (7 March 2025): the relationship between that history and the current share class is not yet qualified (the recorded date may mark a reorganisation, not the birth of the class). The average keeps its current window; the count of positive years considers all admitted rows. What is tracking difference? →

RiskIn this sectionRisk

Risk indicators· EUR

Last year

Volatility (ann.)0.10%

Max drawdown0.00%

Sharpe2.24

Sortino6.80

Full history

Volatility (ann.)0.13%

Max drawdown-2.37%

Sharpe-2.03

Sortino-3.51

	Last year	Full history
Volatility (ann.)	0.10%	0.13%
Max drawdown	0.00%	-2.37%
Sharpe	2.24	-2.03
Sortino	6.80	-3.51

Windows longer than the available price history cannot be computed and are not shown: they will appear on their own as time passes. 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: 2.25%), 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.

PortfolioIn this sectionHoldings

Portfolio holdings

Rows in the published list

523

Top-10 weight

36.8%

Top 10 holdings

APPLE INC · AAPL UW

5.58%

AMAZON.COM INC · AMZN UW

5.15%

MICRON TECHNOLOGY INC · MU UW

4.96%

NVIDIA CORP · NVDA UW

4.39%

MICROSOFT CORP · MSFT UW

4.34%

ELI LILLY & CO · LLY UN

3.38%

TESLA INC · TSLA UW

2.27%

BROADCOM INC · AVGO UW

2.24%

ADVANCED MICRO DEVICES · AMD UW

2.23%

META PLATFORMS INC-CLASS A · META UW

2.21%

⬇ Download the published holdings — Excel, 523 rows

Holdings as published by Amundi, holdings as at 1 September 2026: 523 rows archived by Rebalix, summarised here. Rebalix has no statement from the issuer on the completeness of this list. Weights are reported without rescaling and may not sum to 100%. 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. How Rebalix verifies portfolio holdings →

StructureIn this sectionIndex Same index Exchanges

Index tracked

ESTR Compounded Index

This fund belongs to the money market ETFs family: compare all census ETFs in this family →

ETFs declaring the same index

Fund	TER	Income	Fund size
Vanguard EUR Cash UCITS ETF EUR Dist compare ⇄ VCASH · Vanguard · 2 classesactive	0.07%	Dist. · Acc.	561 mln EUR
Amundi Smart Overnight Return UCITS ETF Dist compare ⇄ EGV2 · Amundinot on Borsa Italiana	0.10%	Dist.	490 mln EUR
Amundi EUR Cash Active UCITS ETF Acc compare ⇄ CMMF · Amundiactivenot on Borsa Italiana	0.10%	Acc.	369 mln EUR

4 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 as follows: Milan-listed classes first, then the others; within each group by ascending TER, then by descending assets. 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:

LU1190417599SMART

BG Saxozero within the savings plan (buys)
Finecozero on buys (single orders and savings plan) — promo list renewed monthly: check it is still listed
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

Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 15 October 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

Exchanges with a ticker available· in alphabetical order

Exchange	Ticker	Exchange source	Registered since
Borsa Italiana (ETFplus)	SMARTfrom tax document	ESMA register (FIRDS)	9 Jun 2015
Euronext Paris	CSH2from tax document	ESMA register (FIRDS)	3 Mar 2015
SIX Swiss Exchange	CSH2from tax document	issuer’s tax document (exchange outside the FIRDS perimeter)	—
Xetra (Deutsche Börse)	LYORfrom tax document	ESMA register (FIRDS)	22 Aug 2024

from tax document — ticker from the half-yearly document the issuer publishes for the Italian tax authority, one ticker per exchange: where the exchange trades several lines (different currencies) the others do not appear.

Each row is one exchange: the operator with all its markets and segments (regulated market and Freiverkehr included). “Registered since”: admission date in the ESMA register (FIRDS), not necessarily the first trading day; a dash = date not recorded in the sources.

Other exchanges on record · 8 · show

Exchange	Ticker	Exchange source	Registered since
Börse Düsseldorf	not available	ESMA register (FIRDS)	6 May 2024
Börse Frankfurt	not available	ESMA register (FIRDS)	22 Aug 2024
Börse Hamburg	not available	ESMA register (FIRDS)	20 Jun 2019
Börse Hannover	not available	ESMA register (FIRDS)	9 Dec 2024
Börse München / gettex	not available	ESMA register (FIRDS)	24 Sept 2021
Börse Stuttgart	not available	ESMA register (FIRDS)	19 Feb 2020
Tradegate Exchange	not available	ESMA register (FIRDS)	13 Nov 2023
Wiener Börse	not available	ESMA register (FIRDS)	24 Apr 2025

For these exchanges none of the listing sources Rebalix covers provides a ticker; the listing is known from the ESMA register (FIRDS) or declared by the issuer. For Börse Düsseldorf the ESMA register records the listing on 2 segments of the same operator, shown as a single row. For Börse Frankfurt the ESMA register records the listing on 2 segments of the same operator, shown as a single row. For Börse Hamburg the ESMA register records the listing on 3 segments of the same operator, shown as a single row. For Börse Hannover the ESMA register records the listing on 2 segments of the same operator, shown as a single row. For Börse München / gettex the ESMA register records the listing on 2 segments of the same operator, shown as a single row. For Börse Stuttgart the ESMA register records the listing on 3 segments of the same operator, shown as a single row.

+ 10 other trading platforms (platforms for professional participants and segments without admission to listing, such as an exchange operator’s dark books or auctions): they are not exchanges and are not listed.

Exchanges are taken from the official ESMA register (FIRDS) and, where FIRDS does not cover the exchange (London, Zurich) or does not record the current listing, from the issuers’ product lists and documents: the “Exchange source” column says so row by row. Each exchange is a single row, with all its markets and segments. Tickers come from the issuers’ product lists and tax documents or, where indicated, from ISIN→exchange mapping under the open FIGI standard (OpenFIGI). Activity on a dark book, an auction or an ancillary platform does not prove a listing on the exchange that operates it. Rebalix mainly covers venues in the European Economic Area, Switzerland and the United Kingdom: when the issuer declares current listings in other jurisdictions too, they appear with their source, outside the ESMA register perimeter. Terminated or cancelled listings are not shown. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker.

DocumentsIn this sectionDocuments FAQ

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed version ProspectusPDF in English, from the issuer’s site — the fund’s full legal document FactsheetPDF 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.

Frequently asked questions

Which index does Amundi Smart Overnight Return UCITS ETF Acc track?

The issuer Amundi declares the benchmark: ESTR Compounded Index.

How much does SMART cost?

The issuer-declared TER is 0.10% per year; the transaction costs estimated in the KID are 0.00%.

How is SMART 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 SMART?

The fund size declared by Amundi is about 7.1 billion euro.

When was SMART launched?

The fund was launched on 7 March 2025: it has 1 year of history.

How does SMART replicate its index?

It is a passively managed ETF: it follows the declared index. Synthetic (swap) (issuer wording: “Indirect(Swap Based)”).

Does SMART pay dividends?

No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Capitalisation”).

Where does SMART trade?

Per the official ESMA register (FIRDS) and the issuer’s documents it is listed on 4 exchanges with a ticker available, including Borsa Italiana (ETFplus) (SMART), Euronext Paris (CSH2), SIX Swiss Exchange (CSH2), Xetra (Deutsche Börse) (LYOR).

What was SMART's worst fall?

Over the available history (since 2015), the maximum drawdown was -2.37%, reached in July 2022. Past performance is not indicative of future results.

What is SMART's tracking difference?

Over the three most recent complete calendar years (2023–2025) the fund returned on average +0.20 percentage points per year versus its index: the annual mean of the differences, from issuer-declared series.

How many positions does SMART publish?

The list published by the issuer and archived by Rebalix has 523 rows; the top 10 weigh 36.8%. The issuer does not declare the list as complete: rows are reported as published, weights included, even where a position has zero weight.

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.

Do you represent the issuer? Report a correction or an update