FRNH.DE vs. VUCE.DE
FRNH.DE (Amundi USD Floating Rate Corporate Bond ESG UCITS ETF EUR Hedged (Acc)) and VUCE.DE (Vanguard USD Corporate Bond UCITS ETF Accumulating) are both Corporate Bonds funds - FRNH.DE tracks the iBoxx MSCI ESG USD FRN Investment Grade Corporates Index (EUR Hedged) while VUCE.DE tracks the Bloomberg Global Aggregate Corporate USD. Both are passively managed. Over the past 5 years, FRNH.DE returned 2.43%/yr vs 0.90%/yr for VUCE.DE. At a 0.01 correlation, their price movements are largely independent. FRNH.DE charges 0.20%/yr vs 0.09%/yr for VUCE.DE.
Performance
FRNH.DE vs. VUCE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, FRNH.DE achieves a 1.44% return, which is significantly lower than VUCE.DE's 3.00% return.
FRNH.DE
- 1D
- -0.04%
- 1M
- 0.23%
- 6M
- 1.24%
- YTD
- 1.44%
- 1Y
- 2.84%
- 3Y*
- 3.73%
- 5Y*
- 2.43%
- 10Y*
- 1.22%
VUCE.DE
- 1D
- 0.21%
- 1M
- 0.73%
- 6M
- 1.51%
- YTD
- 3.00%
- 1Y
- 5.88%
- 3Y*
- 4.35%
- 5Y*
- 0.90%
- 10Y*
- —
FRNH.DE vs. VUCE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FRNH.DE Amundi USD Floating Rate Corporate Bond ESG UCITS ETF EUR Hedged (Acc) | 1.44% | 2.90% | 4.99% | 4.33% | -0.84% | -0.64% | -0.04% | 0.76% |
VUCE.DE Vanguard USD Corporate Bond UCITS ETF Accumulating | 3.00% | -4.18% | 8.59% | 4.44% | -9.55% | 7.07% | -0.48% | -0.56% |
Correlation
The correlation between FRNH.DE and VUCE.DE is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019 | 0.01 |
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Return for Risk
FRNH.DE vs. VUCE.DE — Risk / Return Rank
FRNH.DE
VUCE.DE
FRNH.DE vs. VUCE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi USD Floating Rate Corporate Bond ESG UCITS ETF EUR Hedged (Acc) (FRNH.DE) and Vanguard USD Corporate Bond UCITS ETF Accumulating (VUCE.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.
| FRNH.DE | VUCE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.07 | ||
| Sortino ratioReturn per unit of downside risk | +3.14 | ||
| Omega ratioGain probability vs. loss probability | 1.86 | 1.20 | +0.66 |
| Calmar ratioReturn relative to maximum drawdown | 7.91 | 1.81 | +6.10 |
| Martin ratioReturn relative to average drawdown | 38.31 | 4.75 | +33.57 |
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Drawdowns
FRNH.DE vs. VUCE.DE - Drawdown Comparison
The maximum FRNH.DE drawdown since its inception was -15.25%, which is greater than VUCE.DE's maximum drawdown of -13.03%. Use the drawdown chart below to compare losses from any high point for FRNH.DE and VUCE.DE.
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Drawdown Indicators
| FRNH.DE | VUCE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.25% | -13.03% | -2.22% |
Max Drawdown (1Y)Largest decline over 1 year | -0.36% | -3.23% | +2.87% |
Max Drawdown (3Y)Largest decline over 3 years | -1.39% | -11.15% | +9.76% |
Max Drawdown (5Y)Largest decline over 5 years | -3.17% | -12.75% | +9.58% |
Max Drawdown (10Y)Largest decline over 10 years | -15.25% | — | — |
Current DrawdownCurrent decline from peak | -0.04% | -3.84% | +3.80% |
Average DrawdownAverage peak-to-trough decline | -0.87% | -5.65% | +4.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 1.24% | -1.17% |
Volatility
FRNH.DE vs. VUCE.DE - Volatility Comparison
The current volatility for Amundi USD Floating Rate Corporate Bond ESG UCITS ETF EUR Hedged (Acc) (FRNH.DE) is 0.12%, while Vanguard USD Corporate Bond UCITS ETF Accumulating (VUCE.DE) has a volatility of 1.38%. This indicates that FRNH.DE experiences smaller price fluctuations and is considered to be less risky than VUCE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRNH.DE | VUCE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.12% | 1.38% | -1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 0.52% | 3.91% | -3.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.90% | 5.69% | -4.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.42% | 7.97% | -5.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.36% | 9.13% | -5.77% |
FRNH.DE vs. VUCE.DE - Expense Ratio Comparison
FRNH.DE has a 0.20% expense ratio, which is higher than VUCE.DE's 0.09% 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
FRNH.DE vs. VUCE.DE - Dividend Comparison
Neither FRNH.DE nor VUCE.DE has paid dividends to shareholders.
Frequently Asked Questions
FRNH.DE and VUCE.DE have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUCE.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUCE.DE is cheaper with a 0.09% expense ratio, compared with 0.20% for FRNH.DE.
FRNH.DE tracks iBoxx MSCI ESG USD FRN Investment Grade Corporates Index (EUR Hedged), while VUCE.DE tracks Bloomberg Global Aggregate Corporate USD. They also come from different issuers: Amundi and Vanguard. Their fees differ too: 0.20% for FRNH.DE and 0.09% for VUCE.DE.
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