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Amundi Core MSCI World Swap UCITS ETF DistIndex, costs, backtest, listings and taxation

ISIN: LU2572257124Ticker: AHYQ (Xetra) · MSCW (London SE) · AHYQ (Euronext Paris)Issuer: AmundiClass: UCITS ETF Dist
Issuer-declared data
TER
0.20%
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?
Fund assets
6.6 bn EUR
NAV
141.13 USD (31 August 2026)
Domicile
Luxembourg
Inception date
21 April 2023
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 Core MSCI World Swap UCITS ETF Dist tracks the issuer-declared index: MSCI World Net Total Return USD Index. The declared annual cost (TER) is 0.20%, plus 0.00% in transaction costs estimated by the issuer in the KID. Replication is synthetic replication (swap based); income is distributed to investors. The fund has assets of about 6.6 billion euro, was launched on 21 April 2023 and is domiciled in Luxembourg. In our registry 6 other ETFs declare the same index.

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

This Sub-Fund is passively managed. The objective of this Sub-Fund is to track the performance of MSCI WORLD Index ("the Index"), and to minimize the tracking error between the net asset value of the sub-fund and the performance of the Index. The anticipated level of the tracking error, under normal market conditions, is indicated in the prospectus of the Sub-Fund. MSCI World Index is an equity index representative of the large and midcap markets across developed countries. The Index is a Net Total Return Index : dividends net of tax paid by the index constituents are included in the Index return. More information about the composition of the index and its operating rules are available in the prospectus and at: www.msci.com The Index value is available via Bloomberg (NDDUWI). The Sub-Fund will apply an Indirect Replication methodology to get exposition to the Index. The Sub-Fund will invest into a total return swap (financial derivative instrument) delivering the performance of the Index against the performance of the assets held. Derivatives are integral to the Sub-Fund's investment strategies.

Keep reading the KID section ▾

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 increase the value of their investment 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 Amundi Index Solutions prospectus.

Distribution policy:The Fund’s amounts available for distribution (if any) will be distributed.

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 · 8 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • Assets larger than 94% of equity ETFs we track.
  • Average tracking difference over the last 3 years: +0.16% 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) · USD · from May 2013 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+331.4%
Annualised
+11.6%
Volatility (ann.)
14.6%
Max drawdown
-34.03%
-7%+81%+170%+258%+347%May 2013Oct 2016Mar 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%)+331%May 2013Sept 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
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%2013201520172019202120232025−34.03% · 23 Mar 2020
Max drawdown
-34.03%
peak → trough
Trough
23 Mar 2020
from the 12 Feb 2020 peak
Recovery time
154 days
recovery only: trough to break-even · ≈ 5 months
Underwater
194 days
decline + recovery: peak to break-even · ≈ 6 months · → recovered on 24 Aug 2020

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
12 Feb 202023 Mar 2020-34.03%24 Aug 2020194
04 Jan 202212 Oct 2022-26.10%19 Dec 2023714
21 May 201510 Feb 2016-16.94%09 Dec 2016568
26 Jan 201821 Dec 2018-16.79%21 Jun 2019511
18 Feb 202508 Apr 2025-16.53%03 Jun 2025105

Calendar-year returns

2016
6.7%
2017
22.3%
2018
-9.2%
2019
28.5%
2020
16.2%
2021
22.4%
2022
-18.2%
2023
24.0%
2024
18.8%
2025
21.2%
2026
14.0%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20262.20.7-6.39.64.6-0.70.52.60.714.0
20253.5-0.7-4.40.96.04.31.32.63.22.00.30.821.2
20241.24.23.2-3.74.52.01.82.71.8-2.04.6-2.618.8
20237.1-2.43.11.8-1.06.13.4-2.4-4.3-2.99.44.924.0
2022-5.4-2.52.8-6.1-2.2-8.77.9-4.2-9.37.27.0-4.2-18.2
2021-0.82.63.34.71.61.41.82.5-4.15.7-2.24.422.4
2020-0.4-8.5-13.210.94.92.74.86.7-3.4-3.112.84.116.2
20198.63.01.43.3-5.56.60.5-2.02.12.52.82.828.5
20185.3-4.1-2.21.70.5-0.43.11.20.6-7.31.1-8.2-9.2
20172.42.81.11.52.10.32.40.12.21.72.31.422.3
2016-6.7-0.76.82.00.2-1.14.20.10.5-1.91.42.46.7
2015-2.55.9-1.62.40.4-2.31.8-6.6-3.77.9-0.5-1.0-0.6
2014-3.45.00.11.02.01.8-1.62.2-2.70.62.0-1.05.8
2013-2.55.2-2.15.03.91.71.813.9
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.
Issuer-declared series with dividends reinvested: the total performance, comparable with accumulating funds. Switch it off to see the price (NAV) alone, which drops at every dividend payment.
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 7 of the last 7 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
+0.16% /anno
Declared TER
0.20%
YearFundIndexDifference
2025+21.25%+21.09%+0.15%
2024+18.81%+18.67%+0.14%
2023+23.98%+23.79%+0.20%
2022-18.23%-18.27%+0.04%
2021+22.37%+22.20%+0.17%
2020+16.19%+15.99%+0.20%
2019+28.53%+28.28%+0.25%
Fund return with dividends reinvested by Rebalix on each ex-date (the issuer does not publish a total-return series); index from the issuer-declared series; complete calendar years covered by our dividend archive. 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.)10.96%13.29%15.27%16.58%16.14%
Max drawdown-6.47%-20.44%-20.44%-33.63%-33.63%
Sharpe1.540.910.570.690.75
Sortino2.271.270.810.941.04
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
204
Top-10 weight
33.6%

Top 10 holdings

APPLE INC · AAPL UW
6.35%
AMAZON.COM INC · AMZN UW
5.10%
NVIDIA CORP · NVDA UW
4.01%
CHEVRON CORP · CVX UN
3.08%
GILEAD SCIENCES INC · GILD UW
3.07%
ADVANCED MICRO DEVICES · AMD UW
2.69%
FLUTTER ENTERTAINMENT PLC-DI · FLUT UN
2.47%
APPLIED MATERIALS INC · AMAT UW
2.39%
BROADCOM INC · AVGO UW
2.32%
MARVELL TECHNOLOGY INC · MRVL UW
2.14%
⬇ Download the full portfolio — Excel, 205 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 →

Dividends

Frequency
Annual
Latest dividend
1.70 USD
ex 9 Dec 2025 · paid ~12 Dec 2025
Dividends, last 12 months
1.70 USD
Dividend yield
1.20%
12-month sum over the NAV as of 3 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year1.70 USD1.44 %
20251.70 USD1.63 %
20241.83 USD2.05 %
20231.68 USD2.29 %
20221.18 USD1.29 %
20211.05 USD1.39 %

Dividend contribution to total return

-20%-10%0%10%20%30%+21.66 %1 year+21.23 %2025+18.86 %2024+23.91 %2023−18.26 %2022+22.27 %2021
dividendsprice changeprice decline

Calendar per share (USD)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20251.70
20241.83
20231.68
20221.18
20211.05
20201.09
20191.16
20181.09

Latest dividends

Per shareEx-dividend datePayment
1.70 USD9 Dec 202512 Dec 2025 · estimated
1.83 USD10 Dec 202413 Dec 2024 · estimated
1.68 USD12 Dec 202315 Dec 2023 · estimated
1.18 USD6 Jul 20228 Jul 2022 · estimated
1.05 USD7 Jul 20219 Jul 2021 · estimated
1.09 USD21 Aug 202025 Aug 2020 · estimated
1.1616 USD20 Aug 201922 Aug 2019 · estimated
1.0929 USD21 Aug 201823 Aug 2018 · estimated
Per-share dividends as declared by the issuer, in USD, since the first payment (21 Aug 2018). Past dividends are not indicative of future ones. An «estimated» payment date is computed by Rebalix (ex-date + 2-3 business days, as this issuer has paid in the past) because the issuer does not publish it: it may differ by a day.

Index tracked

MSCI World Net Total Return USD Index
This fund belongs to the World and global equity family: compare all census ETFs in this family →

ETFs declaring the same index

FundTERIncomeFund size
MWRD · Amundi · 3 classes
0.12%Acc. · Dist.14.5 mld EUR
WLD · Amundi · 2 classes
0.30%Acc.8.7 mld EUR
OMNIS · Amundi
0.30%Acc.1 mln EUR
FINZ · Amundinot on Borsa Italiana
0.12%Acc.43 mln EUR
AHYX · Amundinot on Borsa Italiana
0.12%Acc.15 mln EUR
ISRM · Amundiactivenot on Borsa Italiana
0.20%Acc.330 mln EUR
7 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:

LU2572257124AHYQ
  • Finecozero on buys (single orders and savings plan) — promo list renewed monthly: check it is still listed
  • 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 DüsseldorfAHYQ21 Apr 2023
Börse FrankfurtAHYQ21 Apr 2023
Börse HamburgAHYQ21 Apr 2023
Börse HannoverAHYQ9 Dec 2024
Börse München / gettexAHYQ21 Apr 2023
Börse StuttgartAHYQ21 Apr 2023
Tradegate ExchangeAHYQ21 Apr 2023
Xetra (Deutsche Börse)AHYQ21 Apr 2023
+ 21 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 Core MSCI World Swap UCITS ETF Dist track?
The issuer Amundi declares the benchmark: MSCI World Net Total Return USD Index.
How much does AHYQ cost?
The issuer-declared TER is 0.20% per year; the transaction costs estimated in the KID are 0.00%.
How is AHYQ 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 AHYQ?
The fund size declared by Amundi is about 6.6 billion euro.
When was AHYQ launched?
The fund was launched on 21 April 2023: it has 3 years of history.
How does AHYQ replicate its index?
It is a passively managed ETF: it follows the declared index. Synthetic (swap) (issuer wording: “Indirect(Swap Based)”).
Does AHYQ pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distribution”).
Where does AHYQ trade?
Per the official ESMA register it trades on 8 main exchanges, including Börse Düsseldorf (AHYQ), Börse Frankfurt (AHYQ), Börse Hamburg (AHYQ), Börse Hannover (AHYQ), Börse München / gettex (AHYQ), Börse Stuttgart (AHYQ).
What was AHYQ's worst fall?
Over the available history (since 2013), the maximum drawdown was -34.03%, reached in March 2020. Past performance is not indicative of future results.
What is AHYQ's tracking difference?
Over the last 3 complete calendar years the fund returned on average +0.16% per year versus its index (from issuer-declared series).
How many securities does AHYQ hold?
The declared portfolio holds 204 securities; the top 10 positions weigh 33.6%.
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.