CBUP.DE vs. FRNU.DE
CBUP.DE (iShares € Green Bond UCITS ETF EUR (Acc)) and FRNU.DE (Amundi Floating Rate USD Corporate ESG UCITS ETF USD) are both Corporate Bonds funds - CBUP.DE tracks the Bloomberg MSCI Euro Green Bond SRI (including Nuclear Power) Index while FRNU.DE tracks the iBoxx MSCI ESG USD FRN Investment Grade Corporates. Both are passively managed. Over the past 3 years, CBUP.DE returned 3.28%/yr vs 3.91%/yr for FRNU.DE. At a correlation of -0.16, they often move in opposite directions. CBUP.DE charges 0.20%/yr vs 0.18%/yr for FRNU.DE.
Performance
CBUP.DE vs. FRNU.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CBUP.DE achieves a 0.99% return, which is significantly lower than FRNU.DE's 5.09% return.
CBUP.DE
- 1D
- -0.02%
- 1M
- 0.81%
- 6M
- 1.26%
- YTD
- 0.99%
- 1Y
- 1.14%
- 3Y*
- 3.28%
- 5Y*
- —
- 10Y*
- —
FRNU.DE
- 1D
- 0.12%
- 1M
- 1.86%
- 6M
- 4.90%
- YTD
- 5.09%
- 1Y
- 7.95%
- 3Y*
- 3.91%
- 5Y*
- 4.97%
- 10Y*
- 2.87%
CBUP.DE vs. FRNU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CBUP.DE iShares € Green Bond UCITS ETF EUR (Acc) | 0.99% | 0.99% | 2.05% | 7.83% | -11.21% |
FRNU.DE Amundi Floating Rate USD Corporate ESG UCITS ETF USD | 5.09% | -6.54% | 12.72% | 2.79% | -2.69% |
Correlation
The correlation between CBUP.DE and FRNU.DE is -0.30, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2022 | -0.16 |
The correlation between CBUP.DE and FRNU.DE shifts across timeframes, from -0.30 (1 year) to -0.13 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CBUP.DE vs. FRNU.DE — Risk / Return Rank
CBUP.DE
FRNU.DE
CBUP.DE vs. FRNU.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Green Bond UCITS ETF EUR (Acc) (CBUP.DE) and Amundi Floating Rate USD Corporate ESG UCITS ETF USD (FRNU.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CBUP.DE | FRNU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.23 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.35 | 2.44 | -2.08 |
| Martin ratioReturn relative to average drawdown | 0.93 | 5.60 | -4.67 |
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Drawdowns
CBUP.DE vs. FRNU.DE - Drawdown Comparison
The maximum CBUP.DE drawdown since its inception was -12.62%, smaller than the maximum FRNU.DE drawdown of -19.45%. Use the drawdown chart below to compare losses from any high point for CBUP.DE and FRNU.DE.
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Drawdown Indicators
| CBUP.DE | FRNU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.62% | -19.45% | +6.83% |
Max Drawdown (1Y)Largest decline over 1 year | -3.19% | -3.25% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -3.58% | -11.41% | +7.83% |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.41% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.45% | — |
Current DrawdownCurrent decline from peak | -0.88% | -4.20% | +3.32% |
Average DrawdownAverage peak-to-trough decline | -5.10% | -7.79% | +2.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 1.42% | -0.20% |
Volatility
CBUP.DE vs. FRNU.DE - Volatility Comparison
The current volatility for iShares € Green Bond UCITS ETF EUR (Acc) (CBUP.DE) is 1.10%, while Amundi Floating Rate USD Corporate ESG UCITS ETF USD (FRNU.DE) has a volatility of 1.70%. This indicates that CBUP.DE experiences smaller price fluctuations and is considered to be less risky than FRNU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBUP.DE | FRNU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 1.70% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 3.54% | 4.35% | -0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 6.12% | -2.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.88% | 7.58% | -1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.88% | 16.96% | -11.08% |
CBUP.DE vs. FRNU.DE - Expense Ratio Comparison
CBUP.DE has a 0.20% expense ratio, which is higher than FRNU.DE's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CBUP.DE vs. FRNU.DE - Dividend Comparison
Neither CBUP.DE nor FRNU.DE has paid dividends to shareholders.
Frequently Asked Questions
CBUP.DE and FRNU.DE have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FRNU.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FRNU.DE is cheaper with a 0.18% expense ratio, compared with 0.20% for CBUP.DE.
CBUP.DE tracks Bloomberg MSCI Euro Green Bond SRI (including Nuclear Power) Index, while FRNU.DE tracks iBoxx MSCI ESG USD FRN Investment Grade Corporates. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.20% for CBUP.DE and 0.18% for FRNU.DE.
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