FRNU.DE vs. CBUP.DE
FRNU.DE (Amundi Floating Rate USD Corporate ESG UCITS ETF USD) and CBUP.DE (iShares € Green Bond UCITS ETF EUR (Acc)) are both Corporate Bonds funds - FRNU.DE tracks the iBoxx MSCI ESG USD FRN Investment Grade Corporates while CBUP.DE tracks the Bloomberg MSCI Euro Green Bond SRI (including Nuclear Power) Index. Both are passively managed. Over the past 3 years, FRNU.DE returned 4.96%/yr vs 2.62%/yr for CBUP.DE. At a correlation of -0.16, they often move in opposite directions. FRNU.DE charges 0.18%/yr vs 0.20%/yr for CBUP.DE.
Performance
FRNU.DE vs. CBUP.DE - Performance Comparison
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Returns By Period
In the year-to-date period, FRNU.DE achieves a 5.23% return, which is significantly higher than CBUP.DE's -0.06% return.
FRNU.DE
- 1D
- 0.00%
- 1M
- 1.67%
- 6M
- 3.57%
- YTD
- 5.23%
- 1Y
- 6.26%
- 3Y*
- 4.96%
- 5Y*
- 4.95%
- 10Y*
- 2.79%
CBUP.DE
- 1D
- 0.12%
- 1M
- -0.96%
- 6M
- -0.41%
- YTD
- -0.06%
- 1Y
- 0.60%
- 3Y*
- 2.62%
- 5Y*
- —
- 10Y*
- —
FRNU.DE vs. CBUP.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FRNU.DE Amundi Floating Rate USD Corporate ESG UCITS ETF USD | 5.23% | -6.54% | 12.72% | 2.79% | -2.69% |
CBUP.DE iShares € Green Bond UCITS ETF EUR (Acc) | -0.06% | 0.99% | 2.05% | 7.83% | -11.21% |
Correlation
The correlation between FRNU.DE and CBUP.DE is -0.31, 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 | -0.31 |
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 FRNU.DE and CBUP.DE shifts across timeframes, from -0.31 (1 year) to -0.13 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FRNU.DE vs. CBUP.DE — Risk / Return Rank
FRNU.DE
CBUP.DE
FRNU.DE vs. CBUP.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Floating Rate USD Corporate ESG UCITS ETF USD (FRNU.DE) and iShares € Green Bond UCITS ETF EUR (Acc) (CBUP.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.
| FRNU.DE | CBUP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.03 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 0.19 | +1.73 |
| Martin ratioReturn relative to average drawdown | 4.43 | 0.48 | +3.95 |
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Drawdowns
FRNU.DE vs. CBUP.DE - Drawdown Comparison
The maximum FRNU.DE drawdown since its inception was -19.45%, which is greater than CBUP.DE's maximum drawdown of -12.62%. Use the drawdown chart below to compare losses from any high point for FRNU.DE and CBUP.DE.
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Drawdown Indicators
| FRNU.DE | CBUP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.45% | -12.62% | -6.83% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -3.19% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -11.41% | -3.58% | -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 | -4.07% | -1.90% | -2.17% |
Average DrawdownAverage peak-to-trough decline | -7.78% | -5.07% | -2.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 1.26% | +0.15% |
Volatility
FRNU.DE vs. CBUP.DE - Volatility Comparison
Amundi Floating Rate USD Corporate ESG UCITS ETF USD (FRNU.DE) and iShares € Green Bond UCITS ETF EUR (Acc) (CBUP.DE) have volatilities of 1.23% and 1.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRNU.DE | CBUP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 1.24% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 4.30% | 3.66% | +0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.01% | 4.18% | +1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.58% | 5.87% | +1.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.96% | 5.87% | +11.09% |
FRNU.DE vs. CBUP.DE - Expense Ratio Comparison
FRNU.DE has a 0.18% expense ratio, which is lower than CBUP.DE's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FRNU.DE vs. CBUP.DE - Dividend Comparison
Neither FRNU.DE nor CBUP.DE has paid dividends to shareholders.
Frequently Asked Questions
FRNU.DE and CBUP.DE have a correlation of -0.31, 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.
FRNU.DE tracks iBoxx MSCI ESG USD FRN Investment Grade Corporates, while CBUP.DE tracks Bloomberg MSCI Euro Green Bond SRI (including Nuclear Power) Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.18% for FRNU.DE and 0.20% for CBUP.DE.
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