FRGP.L vs. PR1T.L

Last updated Jul 16, 2026

FRGP.L (iShares France Govt Bond UCITS ETF GBP Hedged (Dist)) and PR1T.L (Amundi Prime US Treasury Bond 0-1 Y UCITS ETF DR USD (C)) are both Government Bonds funds - FRGP.L tracks the iShares France Govt Bond UCITS ETF GBP Hedged (Dist) while PR1T.L tracks the Solactive US Treasury 0-1 Year Bond Index. Both are passively managed. Over the past 3 years, FRGP.L returned 2.90%/yr vs 3.46%/yr for PR1T.L. At a correlation of -0.16, they often move in opposite directions.

Performance

FRGP.L vs. PR1T.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares France Govt Bond UCITS ETF GBP Hedged (Dist) (FRGP.L) and Amundi Prime US Treasury Bond 0-1 Y UCITS ETF DR USD (C) (PR1T.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FRGP.L is traded in GBP, while PR1T.L is traded in USD. To make them comparable, the PR1T.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, FRGP.L achieves a 0.66% return, which is significantly lower than PR1T.L's 1.44% return.

FRGP.L

• 1D: -0.15%
• 1M: -0.95%
• 6M: 0.05%
• YTD: 0.66%
• 1Y: 1.92%
• 3Y*: 2.90%
• 5Y*: —
• 10Y*: —

PR1T.L

• 1D: -1.00%
• 1M: -0.58%
• 6M: 1.11%
• YTD: 1.44%
• 1Y: 2.77%
• 3Y*: 3.46%
• 5Y*: 3.68%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FRGP.L vs. PR1T.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FRGP.L iShares France Govt Bond UCITS ETF GBP Hedged (Dist)	0.66%	2.22%	0.16%	7.60%	-1.64%
PR1T.L Amundi Prime US Treasury Bond 0-1 Y UCITS ETF DR USD (C)	1.44%	-3.20%	7.05%	-0.42%	-5.67%

Correlation

The correlation between FRGP.L and PR1T.L is -0.27, 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	-0.27
Correlation (3Y) Calculated over the trailing 3-year period	-0.17
Correlation (All Time) Calculated using the full available price history since Oct 6, 2022	-0.16

The correlation between FRGP.L and PR1T.L shifts across timeframes, from -0.27 (1 year) to -0.16 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FRGP.L vs. PR1T.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FRGP.L

FRGP.L Risk / Return Rank: 16
FRGP.L Sharpe Ratio Rank: 16
FRGP.L Sortino Ratio Rank: 14
FRGP.L Omega Ratio Rank: 14
FRGP.L Calmar Ratio Rank: 16
FRGP.L Martin Ratio Rank: 17

PR1T.L

PR1T.L Risk / Return Rank: 99
PR1T.L Sharpe Ratio Rank: 99
PR1T.L Sortino Ratio Rank: 99
PR1T.L Omega Ratio Rank: 100
PR1T.L Calmar Ratio Rank: 99
PR1T.L Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FRGP.L vs. PR1T.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares France Govt Bond UCITS ETF GBP Hedged (Dist) (FRGP.L) and Amundi Prime US Treasury Bond 0-1 Y UCITS ETF DR USD (C) (PR1T.L). 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.

	FRGP.L	PR1T.L	Difference
Sharpe ratio: Return per unit of total volatility	0.37	0.42	-0.05
Sortino ratio: Return per unit of downside risk	0.57	0.64	-0.07
Omega ratio: Gain probability vs. loss probability	1.07	1.08	0.00
Calmar ratio: Return relative to maximum drawdown	0.51	0.54	-0.03
Martin ratio: Return relative to average drawdown	1.31	1.46	-0.15

FRGP.L vs. PR1T.L - Sharpe Ratio Comparison

The current FRGP.L Sharpe Ratio is 0.37, which is comparable to the PR1T.L Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of FRGP.L and PR1T.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FRGP.L vs. PR1T.L - Drawdown Comparison

The maximum FRGP.L drawdown since its inception was -6.67%, smaller than the maximum PR1T.L drawdown of -16.11%. Use the drawdown chart below to compare losses from any high point for FRGP.L and PR1T.L.

Drawdown Indicators

	FRGP.L	PR1T.L	Difference
Max Drawdown Largest peak-to-trough decline	-6.67%	-16.11%	+9.44%
Max Drawdown (1Y) Largest decline over 1 year	-3.35%	-5.16%	+1.81%
Max Drawdown (3Y) Largest decline over 3 years	-4.24%	-9.85%	+5.61%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.11%	—
Current Drawdown Current decline from peak	-2.12%	-6.76%	+4.64%
Average Drawdown Average peak-to-trough decline	-2.09%	-7.73%	+5.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.31%	1.89%	-0.58%

Volatility

FRGP.L vs. PR1T.L - Volatility Comparison

The current volatility for iShares France Govt Bond UCITS ETF GBP Hedged (Dist) (FRGP.L) is 1.32%, while Amundi Prime US Treasury Bond 0-1 Y UCITS ETF DR USD (C) (PR1T.L) has a volatility of 1.97%. This indicates that FRGP.L experiences smaller price fluctuations and is considered to be less risky than PR1T.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRGP.L	PR1T.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.32%	1.97%	-0.65%
Volatility (6M) Calculated over the trailing 6-month period	3.74%	5.03%	-1.29%
Volatility (1Y) Calculated over the trailing 1-year period	4.59%	6.55%	-1.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.26%	8.46%	-2.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.26%	8.30%	-2.04%

Dividends

FRGP.L vs. PR1T.L - Dividend Comparison

FRGP.L's dividend yield for the trailing twelve months is around 2.91%, while PR1T.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
FRGP.L iShares France Govt Bond UCITS ETF GBP Hedged (Dist)	2.91%	2.83%	2.36%	1.82%
PR1T.L Amundi Prime US Treasury Bond 0-1 Y UCITS ETF DR USD (C)	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FRGP.L and PR1T.L in my portfolio?

FRGP.L and PR1T.L have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between FRGP.L and PR1T.L?

FRGP.L tracks iShares France Govt Bond UCITS ETF GBP Hedged (Dist), while PR1T.L tracks Solactive US Treasury 0-1 Year Bond Index. They also come from different issuers: iShares and Amundi.