FRNU.DE vs. IS3F.DE
FRNU.DE (Amundi Floating Rate USD Corporate ESG UCITS ETF USD) and IS3F.DE (iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist)) are both Corporate Bonds funds - FRNU.DE tracks the iBoxx MSCI ESG USD FRN Investment Grade Corporates while IS3F.DE tracks the Markit iBoxx USD Liquid Investment Grade Interest Rate Hedged Index. Both are passively managed. Over the past 10 years, FRNU.DE returned 2.79%/yr vs 4.00%/yr for IS3F.DE. A 0.78 correlation means they provide meaningful diversification when combined. FRNU.DE charges 0.18%/yr vs 0.25%/yr for IS3F.DE.
Performance
FRNU.DE vs. IS3F.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FRNU.DE having a 5.23% return and IS3F.DE slightly lower at 5.01%. Over the past 10 years, FRNU.DE has underperformed IS3F.DE with an annualized return of 2.79%, while IS3F.DE has yielded a comparatively higher 4.00% annualized 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%
IS3F.DE
- 1D
- -0.23%
- 1M
- 1.13%
- 6M
- 3.17%
- YTD
- 5.01%
- 1Y
- 5.81%
- 3Y*
- 6.69%
- 5Y*
- 6.02%
- 10Y*
- 4.00%
FRNU.DE vs. IS3F.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRNU.DE Amundi Floating Rate USD Corporate ESG UCITS ETF USD | 5.23% | -6.54% | 12.72% | 2.79% | 7.34% | 8.64% | -7.76% | 7.65% | 4.93% | -10.27% |
IS3F.DE iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) | 5.01% | -6.28% | 14.29% | 7.35% | 6.51% | 9.83% | -8.41% | 13.49% | 1.81% | -8.14% |
Correlation
The correlation between FRNU.DE and IS3F.DE is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Apr 21, 2015 | 0.78 |
The correlation between FRNU.DE and IS3F.DE has been stable across timeframes, ranging from 0.78 to 0.88 - a consistent structural relationship.
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Return for Risk
FRNU.DE vs. IS3F.DE — Risk / Return Rank
FRNU.DE
IS3F.DE
FRNU.DE vs. IS3F.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 $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (IS3F.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 | IS3F.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.16 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 1.98 | -0.06 |
| Martin ratioReturn relative to average drawdown | 4.43 | 5.08 | -0.65 |
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Drawdowns
FRNU.DE vs. IS3F.DE - Drawdown Comparison
The maximum FRNU.DE drawdown since its inception was -19.45%, smaller than the maximum IS3F.DE drawdown of -27.25%. Use the drawdown chart below to compare losses from any high point for FRNU.DE and IS3F.DE.
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Drawdown Indicators
| FRNU.DE | IS3F.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.45% | -27.25% | +7.80% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -2.93% | -0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -11.41% | -11.67% | +0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -11.41% | -11.67% | +0.26% |
Max Drawdown (10Y)Largest decline over 10 years | -19.45% | -20.78% | +1.33% |
Current DrawdownCurrent decline from peak | -4.07% | -3.84% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -7.78% | -8.16% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 1.14% | +0.27% |
Volatility
FRNU.DE vs. IS3F.DE - Volatility Comparison
The current volatility for Amundi Floating Rate USD Corporate ESG UCITS ETF USD (FRNU.DE) is 1.23%, while iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (IS3F.DE) has a volatility of 1.74%. This indicates that FRNU.DE experiences smaller price fluctuations and is considered to be less risky than IS3F.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRNU.DE | IS3F.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 1.74% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 4.30% | 4.56% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.01% | 6.33% | -0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.58% | 7.67% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.96% | 8.21% | +8.75% |
FRNU.DE vs. IS3F.DE - Expense Ratio Comparison
FRNU.DE has a 0.18% expense ratio, which is lower than IS3F.DE's 0.25% 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. IS3F.DE - Dividend Comparison
FRNU.DE has not paid dividends to shareholders, while IS3F.DE's dividend yield for the trailing twelve months is around 4.27%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRNU.DE Amundi Floating Rate USD Corporate ESG UCITS ETF USD | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IS3F.DE iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) | 4.27% | 4.77% | 5.36% | 4.95% | 2.10% | 1.50% | 2.62% | 3.52% | 2.81% | 2.25% | 2.36% | 3.21% |
Frequently Asked Questions
FRNU.DE and IS3F.DE have a correlation of 0.88, 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 0.25% for IS3F.DE.
FRNU.DE tracks iBoxx MSCI ESG USD FRN Investment Grade Corporates, while IS3F.DE tracks Markit iBoxx USD Liquid Investment Grade Interest Rate Hedged Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.18% for FRNU.DE and 0.25% for IS3F.DE.
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