European strategic autonomy
How to access potential opportunities with the themes defining Europe’s tomorrow
Marketing Communication
From energy and defence to technology and industrial supply chains, Europe is investing heavily in its domestic markets to address urgent questions about its strategic autonomy.
For investors, this could create potential opportunities1 rooted in real policies, which could be accessed via European equity ETFs. These ETFs could be mapped to priorities such as defence and industrials, or might include sector-based funds like banks and insurance, which historically offer higher dividends2.
The Covid-19 pandemic and Russia’s invasion of Ukraine have accelerated Europe’s push for greater strategic autonomy. But the concept is not new. As far back as December 2013, the European Council discussed the need to improve its defence and security capabilities3. Since then, the EU has launched several strategic projects that focus on self-reliance.
European ETFs have attracted large inflows over the last 18 months, and led the way in overall flows in 2025, outpacing that of US equities4.
Source: Amundi, Bloomberg. Data as of 31 December 2025.
1 Investment involves risks. For more information, please refer to the Risk section below.2 Source: Stoxx Europe 600 - EPS consensus estimate based on Bloomberg Estimates (BEst). Amundi. Bloomberg. Data as at 15/01/2026. Past performance does not predict future performance.3 Source: European Council - 19/20 December 2013.4 Source: Amundi. Bloomberg. Data as at 01/01/2026. Past performance does not predict future performance.
The areas of greatest concern for Europe could be defined by ten key themes. These themes map directly to sectors where European policy action and investment could be focused (see graphic). This mapping could be useful to investors who are looking to align their investment1 strategy with EU policy and the potential long-term economic growth that it could initiate.
Strategic autonomy means Europe can make decisions and supply essential goods and services without being overly dependent on external suppliers or other countries. That matters for everyday life and for long-term economic stability.
Source: Amundi / Euronext. October 2025. Information given for indicative purposes only, may change without prior notice. Themes are defined and mapped according to the Factset RBICS activities. For more information regarding the index methodology, please refer to index provider website www.euronext.com
The investment universe for European equities is huge, encompassing a range of ETFs1. The concrete investments and policies Europe has dedicated to strategic autonomy are creating structural shifts across various sectors.
The Amundi European Strategic Autonomy UCITS ETF, for example, aims to align with the critical themes related to Europe’s self-reliance through the replication of the Euronext European Strategic Autonomy Index5.
For defence and security, the Amundi Stoxx Europe Defense UCITS ETF is designed to capture the performance6 of companies classified in the aerospace and defence sector, which have proven revenue in defence activities.
The Amundi STOXX Europe 600 Industrials UCITS ETF offers exposure to European companies that are instrumental players in the industrials sector.
Meanwhile, the Amundi STOXX Europe 600 Banks UCITS ETF and Amundi STOXX Europe 600 Insurance UCITS ETF offer attractive dividends1 2.
Other ETFs that are aligned with the broad strategic autonomy trend include the Amundi STOXX Europe 600 Technology UCITS ETF and the Amundi STOXX Europe 600 Healthcare UCITS ETF as these sectors stand to potentially benefit from these structural investments.
Source: European Commission, as at end-October 2025. Information given for illustrative purposes only, may change without prior notice.
5 For more information regarding the index methodology, please refer to www.euronext.com 6 Past performance does not predict future performance.
