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Money market ETFs compared
A41BTT isn’t the only ETF tracking €STR. Here are the main alternatives – with their costs, index, size and past performance.
Last updated: 06/11/2026
Euro money market ETFs at a glance #
All accumulating, all in euros, all synthetic via swaps – at first glance almost interchangeable.
| ETF | Index | TER | Fund size | Launch date | 1 year | Year to date |
|---|---|---|---|---|---|---|
| BNP Paribas Easy € OvernightA41BTT · LU3025345516 | Solactive €STR Overnight | 0.10% | €975m | 17/06/2025 | +2.48% | +2.07% |
| Xtrackers II EUR Overnight Rate Swap 1CDBX0AN · LU0290358497 | Solactive €STR +8.5 Daily | 0.10% | €23,535m | 25/05/2007 | +2.11% | +1.76% |
| Amundi Smart Overnight Return AccLYX0WM · LU1190417599 | ESTR Compounded | 0.10% | €7,365m | 02/03/2015 | +2.53% | +2.11% |
| Amundi EUR Overnight Return AccLYX0B6 · FR0010510800 | Solactive Euro Overnight Return (€STR +8.5) | 0.10% | €3,360m | 13/09/2007 | +2.12% | +1.75% |
| UBS EUR Overnight Rate SF AccA411BY · IE0006BDZN36 | Solactive €STR Daily | 0.05% | €352m | 19/05/2025 | +2.57% | +2.17% |
| Ossiam Serenity Euro 1CA40TBY · LU2898088419 | Solactive €STR T+1 Settlement Daily | 0.15% | €266m | 10/12/2024 | +2.48% | +2.08% |
| iShares EUR Overnight Rate Swap AccA41FH8 · IE0005RKXDO7 | Solactive €STR +8.5 Daily | 0.10% | €7m | 11/12/2025 | – | +2.00% |
| Invesco EUR Overnight Return Swap AccA41BV0 · IE000YPOHA39 | Solactive €STR Overnight | 0.10% | €4m | 27/10/2025 | +2.39% | +1.98% |
As of 31/10/2026, sources: justETF, ETF.at. ‘–’ = on the market for less than 12 months. For young or small funds, performance figures say little; past performance is not a reliable indicator of future results.
The differences in detail #
Costs (TER) #
Most funds cost 0.10% a year. The cheapest is the UBS ETF at 0.05%, the most expensive the Ossiam ETF at 0.15%.
Index and mark-up #
Some indices add 8.5 basis points (0.085%) to €STR, others don’t. What matters more is whether the fund’s swap counterparties pay a premium – which is why it’s precisely the funds without an index mark-up that are currently ahead.
Why are the returns so far apart? #
With interest compounded, €STR returned around 2.1% over the last twelve months. That is exactly where DBX0AN and Amundi EUR Overnight Return are: their index does add 0.085 percentage points to €STR, but costs eat that up again.
Several other funds, including A41BTT, are around 0.4 percentage points higher – even though their index contains no mark-up at all. The reason lies in the swap: these funds usually hold a basket of equities and swap its return with banks for €STR. The banks currently pay a premium for this – according to BNP Paribas Asset Management, because it takes pressure off their balance sheets. For A41BTT, the premium was most recently around 0.45% a year (as of April 2026).
This premium is neither guaranteed nor fixed. For comparable funds, it has ranged from around zero to just over 0.5 percentage points in recent years. So don’t rely on the lead continuing.
How to find your money market ETF #
- Compare costs With returns of around 2 to 3% a year, 0.05 percentage points of TER make up a noticeable share of the income.
- Check the fund size With a few hundred million euros or more in assets, an ETF is usually liquid and stable over the long term.
- Check availability It also matters whether your broker offers the ETF – and whether it’s available as a free savings plan.
- Choose a distribution policy Some funds also come in distributing versions, for example DBX0AN, Amundi Smart Overnight Return and A41BTT itself.
More about A41BTT #
Costs, safety and buying tips for the BNP Paribas Easy € Overnight ETF.