FRNU.DE vs. PRAP.DE
FRNU.DE (Amundi Floating Rate USD Corporate ESG UCITS ETF USD) and PRAP.DE (Amundi Core USD Corporate Bond UCITS ETF (Acc)) are both Corporate Bonds funds from Amundi - FRNU.DE tracks the iBoxx MSCI ESG USD FRN Investment Grade Corporates while PRAP.DE tracks the Bloomberg US Corporate Liquid Issuer Index. Both are passively managed. Over the past 5 years, FRNU.DE returned 4.95%/yr vs 0.59%/yr for PRAP.DE. A 0.58 correlation means they provide meaningful diversification when combined. FRNU.DE charges 0.18%/yr vs 0.07%/yr for PRAP.DE.
Performance
FRNU.DE vs. PRAP.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 PRAP.DE's 2.44% 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%
PRAP.DE
- 1D
- 0.16%
- 1M
- 0.32%
- 6M
- 0.91%
- YTD
- 2.44%
- 1Y
- 5.54%
- 3Y*
- 3.99%
- 5Y*
- 0.59%
- 10Y*
- —
FRNU.DE vs. PRAP.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FRNU.DE Amundi Floating Rate USD Corporate ESG UCITS ETF USD | 5.23% | -6.54% | 12.72% | 2.79% | 7.34% | 8.64% | -8.83% |
PRAP.DE Amundi Core USD Corporate Bond UCITS ETF (Acc) | 2.44% | -3.96% | 7.69% | 4.70% | -10.24% | 6.82% | -11.43% |
Correlation
The correlation between FRNU.DE and PRAP.DE is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jan 22, 2020 | 0.58 |
The correlation between FRNU.DE and PRAP.DE has been stable across timeframes, ranging from 0.51 to 0.58 - a consistent structural relationship.
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Return for Risk
FRNU.DE vs. PRAP.DE — Risk / Return Rank
FRNU.DE
PRAP.DE
FRNU.DE vs. PRAP.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 Amundi Core USD Corporate Bond UCITS ETF (Acc) (PRAP.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 | PRAP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.17 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 1.53 | +0.39 |
| Martin ratioReturn relative to average drawdown | 4.43 | 3.88 | +0.55 |
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Drawdowns
FRNU.DE vs. PRAP.DE - Drawdown Comparison
The maximum FRNU.DE drawdown since its inception was -19.45%, roughly equal to the maximum PRAP.DE drawdown of -18.71%. Use the drawdown chart below to compare losses from any high point for FRNU.DE and PRAP.DE.
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Drawdown Indicators
| FRNU.DE | PRAP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.45% | -18.71% | -0.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -3.62% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -11.41% | -11.80% | +0.39% |
Max Drawdown (5Y)Largest decline over 5 years | -11.41% | -13.30% | +1.89% |
Max Drawdown (10Y)Largest decline over 10 years | -19.45% | — | — |
Current DrawdownCurrent decline from peak | -4.07% | -6.35% | +2.28% |
Average DrawdownAverage peak-to-trough decline | -7.78% | -10.13% | +2.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 1.42% | -0.01% |
Volatility
FRNU.DE vs. PRAP.DE - Volatility Comparison
The current volatility for Amundi Floating Rate USD Corporate ESG UCITS ETF USD (FRNU.DE) is 1.23%, while Amundi Core USD Corporate Bond UCITS ETF (Acc) (PRAP.DE) has a volatility of 1.49%. This indicates that FRNU.DE experiences smaller price fluctuations and is considered to be less risky than PRAP.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 | PRAP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 1.49% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 4.30% | 4.06% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.01% | 6.07% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.58% | 8.33% | -0.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.96% | 9.55% | +7.41% |
FRNU.DE vs. PRAP.DE - Expense Ratio Comparison
FRNU.DE has a 0.18% expense ratio, which is higher than PRAP.DE's 0.07% 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
FRNU.DE vs. PRAP.DE - Dividend Comparison
Neither FRNU.DE nor PRAP.DE has paid dividends to shareholders.
Frequently Asked Questions
FRNU.DE and PRAP.DE have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PRAP.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PRAP.DE is cheaper with a 0.07% expense ratio, compared with 0.18% for FRNU.DE.
FRNU.DE tracks iBoxx MSCI ESG USD FRN Investment Grade Corporates, while PRAP.DE tracks Bloomberg US Corporate Liquid Issuer Index. Their fees differ too: 0.18% for FRNU.DE and 0.07% for PRAP.DE.
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