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Amundi Core Stoxx Europe 600 UCITS ETF USD Hedged AccIndex, costs, backtest, listings and taxation

ISIN: LU2873560564Ticker: MEUH (London SE)Issuer: AmundiClass: UCITS ETF USD Hedged Acc Currency hedging: USD-hedged share class
Issuer-declared data
Declared index
STOXX Europe 600 (Net Return) EUR
TER
0.09%
Transaction costs
0.09% (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
170.6 mln EUR
NAV
27.4 USD (1 September 2026)
Domicile
Luxembourg
Inception date
24 October 2024
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 Stoxx Europe 600 UCITS ETF USD Hedged Acc tracks the issuer-declared index: STOXX Europe 600 (Net Return) EUR. Mind the share class: this is the version hedged to USD — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.09%, plus 0.09% 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 171 million euro, was launched on 24 October 2024 and is domiciled in Luxembourg. In our registry 3 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 STOXX Europe 600 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. The Index is a Net Total Return Index : dividends net of tax paid by the index constituents are included in the Index return. The Index provides exposure to the performance of the 600 most liquid large, mid and small caps stocks covering developed markets in Europe. More information about the composition of the Index and its operating rules are available in the prospectus and at: www.qontigo.com. The Index value is available via Bloomberg (SXXR). The exposure to the Index will be achieved through a direct replication, mainly by making direct investments in transferable securities and/or other eligible assets representing the Index constituents in a proportion extremely close to their proportion in the Index. The Investment Manager will be able to use derivatives in order to deal with inflows and outflows and which relate to the Index or constituents of the Index for investment and/or efficient portfolio management. In order to generate additional income to offset its costs, the Sub-Fund may also enter into securities lending operations. Updated composition of the Sub-Fund holdings is available on www.amundietf.com.

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

Quick reads

  • TER 0.09%: below the median of equity ETFs we track (0.22%).
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 Oct 2024 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+37.5%
Annualised
+18.6%
Volatility (ann.)
13.1%
Max drawdown
-15.55%
-11%+3%+16%+30%+43%Oct 2024Apr 2025Oct 2025Mar 2026Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+37%Oct 2024Sept 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.
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%-5%-10%-15%-20%202420252026−15.55% · 09 Apr 2025
Max drawdown
-15.55%
peak → trough
Trough
09 Apr 2025
from the 03 Mar 2025 peak
Recovery time
41 days
recovery only: trough to break-even
Underwater
78 days
decline + recovery: peak to break-even · ≈ 3 months · → recovered on 20 May 2025

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
03 Mar 202509 Apr 2025-15.55%20 May 202578
27 Feb 202620 Mar 2026-9.16%17 Apr 202649
12 Nov 202518 Nov 2025-3.77%15 Dec 202533
28 Oct 202420 Nov 2024-3.72%09 Dec 202442
17 Apr 202629 Apr 2026-3.51%22 May 202635

Calendar-year returns

2024
-1.8%
2025
23.4%
2026
13.5%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20262.94.1-6.95.13.13.01.30.8-0.113.5
20256.83.0-3.3-0.34.9-0.51.31.21.92.71.12.923.4
20240.7-0.4-1.8
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.
Declared TER
0.09%
YearFundIndexDifference
2025+23.41%+22.86%+0.55%
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 yearFull history
Volatility (ann.)11.18%14.03%
Max drawdown-7.21%-19.98%
Sharpe1.780.83
Sortino2.691.15
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: 2.21%), 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 — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Portfolio holdings

Securities in portfolio
613
Top-10 weight
19.4%

Top 10 holdings

ASML HOLDING NV · ASML NA
4.13%
HSBC HOLDINGS PLC · HSBA LN
2.28%
NOVARTIS AG-REG · NOVN SE
1.96%
ROCHE HOLDING AG - GENUSSS CHF · ROP SE
1.92%
SHELL PLC EUR · SHELL NA
1.67%
ASTRAZENECA GBP · AZN LN
1.61%
NESTLE SA-REG · NESN SE
1.59%
SIEMENS AG-REG · SIE GY
1.51%
SAP SE / XETRA · SAP GY
1.38%
BANCO SANTANDER SA MADRID · SAN SM
1.37%

Sectors

Financials
26.3%
Industrials
18.9%
Health Care
12.3%
Information Technology
8.4%
Consumer Staples
7.8%
Consumer Discretionary
6.7%
Materials
5.7%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustria: 0.7%AzerbaijanBurundiBelgium: 1.9%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerland: 13.8%ChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 13.3%DjiboutiDenmark: 2.7%Dominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 6%EstoniaEthiopiaFinland: 1.9%FijiFalkland IslandsFrance: 15.1%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 0.7%IranIraqIcelandIsraelItaly: 5.7%JamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 7.8%Norway: 1.4%NepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPoland: 1%Puerto RicoNorth KoreaPortugal: 0.3%ParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSweden: 4.9%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 Kingdom22.9%
France15.1%
Switzerland13.8%
Germany13.3%
Netherlands7.8%
Spain6%
Italy5.7%
⬇ Download the full portfolio — Excel, 614 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
MEUD · Amundi · 2 classes
0.07%Dist. · Acc.20.9 mld EUR
EUROS · Amundi
0.10%Acc.1 mln EUR
CSXE · Amundinot on Borsa Italiana
0.07%Dist.99,340 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 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 →

Stock exchange listings

ExchangeTickerTrading since
Börse HannoverIS9017 Oct 2025
Tradegate ExchangeIS9015 Oct 2025
+ 3 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 Stoxx Europe 600 UCITS ETF USD Hedged Acc track?
The issuer Amundi declares the benchmark: STOXX Europe 600 (Net Return) EUR.
How much does MEUH cost?
The issuer-declared TER is 0.09% per year; the transaction costs estimated in the KID are 0.09%.
How is MEUH 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 MEUH?
The fund size declared by Amundi is about 171 million euro.
When was MEUH launched?
The fund was launched on 24 October 2024: it has 1 year of history.
How does MEUH replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Direct(Physical)”).
Does MEUH pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Capitalisation”).
Where does MEUH trade?
Per the official ESMA register it trades on 2 main exchanges, including Börse Hannover (IS90), Tradegate Exchange (IS90).
What was MEUH's worst fall?
Over the available history (since 2024), the maximum drawdown was -15.55%, reached in April 2025. Past performance is not indicative of future results.
How many securities does MEUH hold?
The declared portfolio holds 613 securities; the top 10 positions weigh 19.4%.
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.