The Euro Equity Index built from active managers' portfolios.
Passive exposure to Euro equities — with the return profile of active conviction, not cap-weighted. 15 years of documented outperformance against EURO STOXX 50.
A cumulative outperformance that compounds.
Base 100, 31 March 2011 → 31 March 2026. Public data, no reconstruction.
An index made by managers, not by market cap.
Built from highest convictions
Each weight is set by the strongest, most repeated convictions of the best-performing managers on the amLeague platform — not by the size of the company.
Not cap-weighted
A classic cap-weighted index concentrates risk in a handful of mega-caps. amLeague EURO 50 diversifies by conviction, not by float.
15 years, publicly verifiable
Performance has been recorded continuously since 31 March 2011. No backtest, no reconstruction — just published history.
From 100+ portfolios to 50 holdings.
Alpha selection
The 7 portfolios with the best alpha over the past 9 months.
Tracking error filter
Among these 7, the 3 with the lowest tracking error.
Alpha re-ranking
Re-ranked by alpha and weighted 44.44% / 33.33% / 22.22%.
Index administered by FCI
amLeague EURO 50 ESG (Bloomberg ticker FCIALE5E) is calculated and administered by Fair Cost Index (FCI), approved as a benchmark administrator by ESMA and AMF.
15 years of public, verifiable performance.
All figures are cumulative returns, in EUR (Net Return).
31 March 2011 — 31 March 2026 (15 years)
Annual outperformance vs EUROSTOXX 50 NR
The spread has been positive in 11 of the last 15 years.
Illustrative chart — annual spread values to be sourced and connected to the live database. Replace with the amLeague production data.
Outperformances vs benchmarks Live
Cumulative performance in %, and spread in percentage points, over each period.
| YTD | 1Y | 3Y | 5Y | 10Y | 15Y | |
|---|---|---|---|---|---|---|
| Index | ||||||
| amLeague EURO 50 | +9.78% | +27.77% | +74.25% | +86.99% | +283.31% | +414.99% |
| EURO STOXX 50 NR | +10.18% | +8.67% | +38.95% | +54.95% | +133.81% | +185.61% |
| EURO STOXX NR | +12.57% | +12.51% | +40.32% | +12.49% | +149.52% | +202.50% |
| Spread | ||||||
| Spread vs EURO STOXX 50 NR | -0.40 | +19.10 | +35.30 | +32.04 | +149.50 | +229.38 |
| Spread vs EURO STOXX NR | -2.79 | +15.26 | +33.93 | +74.50 | +133.79 | +212.49 |
Consistent outperformance with lower volatility.
Period: 31/03/2011 – 31/03/2026. Parentheses = EURO STOXX 50 NR.
| Metric | 15Y | 10Y | 5Y | 3Y |
|---|---|---|---|---|
| amLeague EURO 50 cumulated | +414.99% | +223.81% | +86.99% | +74.25% |
| EURO STOXX 50 NR | +185.61% | +137.26% | +59.97% | +38.90% |
| Volatility | 17.77 (19.44) | 16.63 (18.01) | 16.48 (16.94) | 14.91 (14.56) |
| Alpha | 4.80 | 4.25 | 3.93 | 8.35 |
| Beta | 0.87 | 0.87 | 0.92 | 0.96 |
| Max drawdown | -35.73 (-38.24) | -35.73 (-38.24) | -27.40 (-23.70) | -16.06 (-16.44) |
| Tracking error | 5.96 | 6.19 | 5.57 | 5.36 |
| Sharpe ratio | 0.75 (0.48) | 0.86 (0.62) | 0.92 (0.69) | 1.47 (0.90) |
| Information ratio | 0.66 | 0.51 | 0.60 | 1.64 |
| Black-Treynor | 5.507% | 4.896% | 4.276% | 8.729% |
| Outperformance frequency | 79% | 67% | 47% | 100% |
Source: amLeague — Period: 31/03/2011 – 31/03/2026. Past performance is not indicative of future results. Values in EUR, fees not included.
How amLeague EURO 50 is built.
A three-step quarterly process that converts the highest convictions of the best active managers into a diversified, UCITS-compliant Euro equity index.
From 100+ portfolios to 50 holdings.
Alpha selection
The 7 portfolios with the best alpha over the past 9 months are selected from the 100+ Euro equity portfolios actively managed on the amLeague platform.
7 portfoliosTracking error filter
Among these 7, the 3 portfolios with the lowest tracking error are retained — the most reliable, least erratic alpha generators.
3 portfoliosAlpha re-ranking
The 3 remaining portfolios are re-ranked by alpha and weighted on a decreasing basis: 44.44% / 33.33% / 22.22%.
Decreasing weightsFrom portfolios to index — the full flow
Rebalancing: day 5 of January, April, July and October.
| Rule | Value |
|---|---|
| Universe | EURO STOXX NR ∪ MSCI EMU components |
| Max holdings | 50 |
| Exposure to Euro equities | 98% – 100% at all times |
| UCITS rule | 5-10-40 rule applied |
| Rebalancing | Quarterly — day 5 of Jan / Apr / Jul / Oct |
| Currency | EUR |
| Inception | 31 March 2011 (base 100) |
| Governance | Technical committee with independent external member (since Oct 2019) |
| Administrator | Fair Cost Index (FCI) — approved by ESMA and AMF |
| Bloomberg ticker | FCIALE5E |
Same universe. Different weighting logic.
| Cap-weighted index | amLeague EURO 50 |
|---|---|
| Weights are set by market capitalisation | Weights are set by the highest convictions of the best managers |
| Risk concentrates on a handful of mega-caps | Risk is diversified by conviction, not by float |
| Mechanically reflects the market | Aims to beat the market — 15 years of documented outperformance |
Full methodology — including the process diagram
Download the full presentation (PDF), section "How it works".
How to get exposure to amLeague EURO 50.
The index is investable through a dedicated fund managed by La Française Asset Management, indexed on the ESG version of amLeague EURO 50.
LFAM INDEX ALPHA
Managed by La Française Asset Management · Institutional
A dedicated fund that delivers the performance of amLeague EURO 50 — indexed on the ESG version of the index. Launched in 2019 and reserved for institutional investors. AUM around 150M€ on June 30, 2026.
- Direct access to the highest convictions of top-performing Euro equity managers.
- Significant assets under management — no capacity constraints from small-float names.
- A single fund, transparent index construction, published methodology.
Key facts
amLeague EURO 50 ESG
The ESG version of amLeague EURO 50, launched on 5 October 2023. Same construction method, with AGIRC-ARRCO exclusions applied. Excluded securities are replaced by the next eligible ones.
Read the ESG methodology (PDF, page 7) →Free vs licensed access
Historical index values are public. Detailed composition with weightings is reserved for licensees. Two published indices: EURO50 and EURO50 ESG (ticker Bloomberg FCIALE5E).
Request licensing info →Talk to the team behind amLeague EURO 50.
For institutional investors, consultants and asset managers.
Institutional enquiries
For information on the index, its methodology, the investable vehicles, or licensing, please reach out to the amLeague team.
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amLeague SA
rue du Cendrier 24
CH-1201 Geneva, Switzerland
Company identification number (UID): CHE-113.724.160
Publication director: Antoine Briant, CEO
Contact: support@am-league.com
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Infomaniak Network SA
Rue Eugène Marziano 25, 1227 Les Acacias, Geneva, Switzerland
Company identification number (UID): CHE-103.167.648
Contact: https://www.infomaniak.com/en/support
Website: https://www.infomaniak.com
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The performance of the amLeague EURO 50 index shown on this site is historical and is not indicative of future results. This site is for information purposes only and does not constitute investment advice, nor an offer or solicitation to buy or sell financial instruments. The index is not directly investable; it is made available under licence for benchmarking or replication by authorised third parties. amLeague endeavours to ensure the accuracy of the published data but gives no warranty in this respect and accepts no liability for errors or omissions.
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