# Amundi ETF Leveraged MSCI USA Daily (0WAX) **Page:** https://fundology.uk/fund/0wax · ISIN FR0010755611 ## At a glance > Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise. As of 13/11/2026, 0WAX (Amundi ETF Leveraged MSCI USA Daily, ISIN FR0010755611) closed at €32.50 on the London Stock Exchange. Its ongoing charge is 0.50% a year (about £50 on £10,000). Over the five years to 13/11/2026 its total return was +120.5%, or +72.1% after UK CPIH inflation. ## Summary Amundi ETF Leveraged MSCI USA Daily is an exchange-traded fund (ETF) from Amundi, launched in 2009. It aims to deliver a multiple, or the opposite, of one day’s move in what it tracks. The multiple resets daily, so over longer periods its return can differ a lot from the multiple of the index return. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.5% a year — about £50 a year on every £10,000 invested, taken from the fund's value rather than billed to you. > **Leveraged & inverse:** Built for short-term trading. Because the multiple resets every day, losses can build up quickly when held for longer, even if the index ends up where it started. Latest close: **€32.50** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | 0WAX | | ISIN | FR0010755611 | | Also listed as | 18MF (Xetra, euros) | | Category | Leveraged & inverse | | Type | ETF | | Provider | Amundi | | Tracks | MSCI USA Leveraged 2x Daily Index - EUR | | Ongoing charge | 0.50% a year (£50 per £10,000) | | Fund size | £991m | | Launched | 2009 | | Domicile | France | ## Past returns (periods to 13/11/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | +22.93% | +18.58% | income reinvested | | 3 years | +130.68% | +108.42% | income reinvested | | 5 years | +120.47% | +72.09% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of Amundi ETF Leveraged MSCI USA Daily in pounds (price only): 2022 −28.8%, 2023 +39.2%, 2024 +60.2%, 2025 +2.7%; 2026 to 13/11/2026 +26.1%. Returns of Amundi ETF Leveraged MSCI USA Daily in pounds (price only) over the 12 months to 30/09/2026: +31.3%; to 30/09/2025: +24.0%; to 30/09/2024: +46.2%; to 30/09/2023: +13.3%; to 30/09/2022: −3.1%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | -28.8% | -34.9% | Price | | 2023 | +39.2% | +33.6% | Price | | 2024 | +60.2% | +54.7% | Price | | 2025 | +2.7% | -0.8% | Price | | 2026 to 13/11/2026 | +26.1% | +22.0% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 24.44% | -15.02% | | 3 years | 27.13% | -38.19% | | 5 years | 28.65% | -38.19% | ## Largest fall Volatility of Amundi ETF Leveraged MSCI USA Daily in pounds, annualised from weekly returns to 13/11/2026: 24.4% over 1 year, 27.1% over 3 years, 28.6% over 5 years. Largest fall in the price of Amundi ETF Leveraged MSCI USA Daily since November 2021, in pounds: −38.2% from 24/01/2025 to 11/04/2025. The lowest 12-month return of Amundi ETF Leveraged MSCI USA Daily in pounds (price only) since January 2021 was −28.8% (12 months to 30/12/2022); the highest was +74.1% (12 months to 22/11/2024). On 13/11/2026 the price of Amundi ETF Leveraged MSCI USA Daily was 6.7% below its highest weekly close since November 2021 (09/10/2026), in pounds. ## Charges compared with similar funds Ongoing charge of Amundi ETF Leveraged MSCI USA Daily 0.50% a year. Compared on 14/11/2026, 186 of the 210 other leveraged and inverse products charge more, 3 the same and 21 less (share classes counted once). ## Charges & eligibility - Ongoing charges figure (OCF): **0.50%** per year (as of 13/11/2026) - Stocks and shares ISA eligible: usually (check with your platform) - SIPP eligible: usually (check with your provider) - ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify. ## What it holds 0WAX is a swap-based (synthetic) fund: it gets the return of the index it tracks through a swap. Its published holdings, as of 11/11/2026, are the substitute basket of securities the fund holds as collateral, not the companies in that index. ### Top holdings Largest positions (as of 11/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | Novo Nordisk | [NOVO_B](https://fundology.uk/stock/NOVO_B) | 8.25% | | 2 | ASML | [ASML](https://fundology.uk/stock/ASML) | 7.12% | | 3 | Deutsche Telekom | [DTE](https://fundology.uk/stock/DTE) | 6.59% | | 4 | SAP | [SAP](https://fundology.uk/stock/SAP) | 6.39% | | 5 | Airbus | [AIR](https://fundology.uk/stock/AIR) | 5.15% | | 6 | Siemens Energy | [ENR](https://fundology.uk/stock/ENR) | 4.45% | | 7 | Nordea Bank Abp | [NDA_FI](https://fundology.uk/stock/NDA_FI) | 4.23% | | 8 | Rwe | [RWE](https://fundology.uk/stock/RWE) | 4.08% | | 9 | Infineon Technologies | [IFX](https://fundology.uk/stock/IFX) | 3.73% | | 10 | Koninklijke Ahold Delhaize | [AD](https://fundology.uk/stock/AD) | 3.11% | The 60 holdings on record (of 61 reported): https://fundology.uk/fund/0wax/holdings ## Questions people ask **What is the ongoing charge of 0WAX?** The ongoing charge of 0WAX is 0.50% a year — about £50 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Amundi ETF Leveraged MSCI USA Daily 0.50% a year. Compared on 14/11/2026, 186 of the 210 other leveraged and inverse products charge more, 3 the same and 21 less (share classes counted once). **What does 0WAX track?** 0WAX tracks the MSCI USA Leveraged 2x Daily Index - EUR. **What is the ISIN of 0WAX?** The ISIN of 0WAX is FR0010755611. An ISIN identifies one exact share class of a fund; 0WAX is its ticker on the London Stock Exchange. The same share class is also listed as 18MF (Xetra, euros). **What does 0WAX hold?** 0WAX is a swap-based (synthetic) fund: it gets the return of the index it tracks through a swap. Its published holdings, as of 11/11/2026, are the substitute basket of securities the fund holds as collateral, not the companies in that index. **What were 0WAX’s returns in each of the last five years?** Calendar-year returns of 0WAX in pounds (price only): 2022 −28.8%, 2023 +39.2%, 2024 +60.2%, 2025 +2.7%; 2026 to 13/11/2026 +26.1%. Past performance is not a guide to future returns. **How has 0WAX done after inflation?** Over the five years to 13/11/2026 0WAX’s total return was +120.5%, or +72.1% after UK CPIH inflation. Past performance is not a guide to future returns. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.