FRNU.DE vs. PUIG.DE
FRNU.DE (Amundi Floating Rate USD Corporate ESG UCITS ETF USD) and PUIG.DE (Invesco USD Corporate Bond UCITS ETF Dist) are both Corporate Bonds funds - FRNU.DE tracks the iBoxx MSCI ESG USD FRN Investment Grade Corporates while PUIG.DE tracks the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 5 years, FRNU.DE returned 5.15%/yr vs 1.11%/yr for PUIG.DE. A 0.59 correlation means they provide meaningful diversification when combined. FRNU.DE charges 0.18%/yr vs 0.10%/yr for PUIG.DE.
Performance
FRNU.DE vs. PUIG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, FRNU.DE achieves a 3.11% return, which is significantly higher than PUIG.DE's 1.26% return.
FRNU.DE
- 1D
- -0.07%
- 1M
- 1.57%
- YTD
- 3.11%
- 6M
- 2.36%
- 1Y
- 3.47%
- 3Y*
- 2.89%
- 5Y*
- 5.15%
- 10Y*
- 2.93%
PUIG.DE
- 1D
- 0.15%
- 1M
- 1.15%
- YTD
- 1.26%
- 6M
- 0.39%
- 1Y
- 3.02%
- 3Y*
- 1.82%
- 5Y*
- 1.11%
- 10Y*
- —
FRNU.DE vs. PUIG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FRNU.DE Amundi Floating Rate USD Corporate ESG UCITS ETF USD | 3.11% | -6.55% | 12.73% | 2.79% | 7.34% | 8.64% | -7.76% | -0.64% |
PUIG.DE Invesco USD Corporate Bond UCITS ETF Dist | 1.26% | -4.57% | 7.59% | 4.08% | -10.14% | 6.62% | -0.40% | -0.90% |
Correlation
The correlation between FRNU.DE and PUIG.DE is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2019 | 0.59 |
The correlation between FRNU.DE and PUIG.DE has been stable across timeframes, ranging from 0.55 to 0.65 - a consistent structural relationship.
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Return for Risk
FRNU.DE vs. PUIG.DE — Risk / Return Rank
FRNU.DE
PUIG.DE
FRNU.DE vs. PUIG.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 Invesco USD Corporate Bond UCITS ETF Dist (PUIG.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.
| FRNU.DE | PUIG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.08 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | 0.70 | +0.33 |
| Martin ratioReturn relative to average drawdown | 2.13 | 1.81 | +0.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FRNU.DE | PUIG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.55 | 0.44 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.13 | +0.54 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.04 | +0.28 |
Drawdowns
FRNU.DE vs. PUIG.DE - Drawdown Comparison
The maximum FRNU.DE drawdown since its inception was -14.79%, roughly equal to the maximum PUIG.DE drawdown of -14.30%. Use the drawdown chart below to compare losses from any high point for FRNU.DE and PUIG.DE.
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Drawdown Indicators
| FRNU.DE | PUIG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.79% | -14.30% | -0.49% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -3.62% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -11.40% | -11.19% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -11.40% | -13.35% | +1.95% |
Max Drawdown (10Y)Largest decline over 10 years | -14.79% | — | — |
Current DrawdownCurrent decline from peak | -6.01% | -5.91% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -5.47% | -6.03% | +0.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.58% | 1.40% | +0.18% |
Volatility
FRNU.DE vs. PUIG.DE - Volatility Comparison
Amundi Floating Rate USD Corporate ESG UCITS ETF USD (FRNU.DE) has a higher volatility of 1.33% compared to Invesco USD Corporate Bond UCITS ETF Dist (PUIG.DE) at 1.02%. This indicates that FRNU.DE's price experiences larger fluctuations and is considered to be riskier than PUIG.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 | PUIG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 1.02% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 4.19% | 3.99% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.12% | 5.77% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.60% | 8.38% | -0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.50% | 9.07% | -1.57% |
FRNU.DE vs. PUIG.DE - Expense Ratio Comparison
FRNU.DE has a 0.18% expense ratio, which is higher than PUIG.DE's 0.10% 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. PUIG.DE - Dividend Comparison
FRNU.DE has not paid dividends to shareholders, while PUIG.DE's dividend yield for the trailing twelve months is around 4.21%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
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% |
PUIG.DE Invesco USD Corporate Bond UCITS ETF Dist | 4.21% | 4.32% | 4.29% | 3.82% | 2.83% | 1.91% | 2.59% |
Frequently Asked Questions
FRNU.DE and PUIG.DE have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PUIG.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PUIG.DE is cheaper with a 0.10% expense ratio, compared with 0.18% for FRNU.DE.
FRNU.DE tracks iBoxx MSCI ESG USD FRN Investment Grade Corporates, while PUIG.DE tracks Bloomberg US Corp Bond TR USD. They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.18% for FRNU.DE and 0.10% for PUIG.DE.
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