FRNU.DE vs. QDVY.DE
FRNU.DE (Amundi Floating Rate USD Corporate ESG UCITS ETF USD) and QDVY.DE (iShares USD Floating Rate Bond UCITS ETF) are both Corporate Bonds funds - FRNU.DE tracks the iBoxx MSCI ESG USD FRN Investment Grade Corporates while QDVY.DE tracks the Bloomberg US Floating Rate Notes 1-5. Both are passively managed. Over the past 5 years, FRNU.DE returned 5.15%/yr vs 3.10%/yr for QDVY.DE. With a 0.97 correlation, they move nearly in lockstep. FRNU.DE charges 0.18%/yr vs 0.10%/yr for QDVY.DE.
Performance
FRNU.DE vs. QDVY.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 QDVY.DE's 0.88% 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%
QDVY.DE
- 1D
- -0.14%
- 1M
- -0.63%
- YTD
- 0.88%
- 6M
- 0.12%
- 1Y
- -1.37%
- 3Y*
- -0.58%
- 5Y*
- 3.10%
- 10Y*
- —
FRNU.DE vs. QDVY.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 | 3.11% | -6.55% | 12.73% | 2.79% | 7.34% | 8.64% | -7.76% | 7.65% | 4.94% | -2.07% |
QDVY.DE iShares USD Floating Rate Bond UCITS ETF | 0.88% | -11.19% | 9.21% | 2.97% | 7.53% | 8.93% | -8.09% | 6.69% | 5.99% | -2.13% |
Correlation
The correlation between FRNU.DE and QDVY.DE is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2017 | 0.97 |
The correlation between FRNU.DE and QDVY.DE has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
FRNU.DE vs. QDVY.DE — Risk / Return Rank
FRNU.DE
QDVY.DE
FRNU.DE vs. QDVY.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 USD Floating Rate Bond UCITS ETF (QDVY.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 | QDVY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.97 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | -0.27 | +1.30 |
| Martin ratioReturn relative to average drawdown | 2.13 | -0.59 | +2.72 |
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 | QDVY.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.55 | -0.23 | +0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.39 | +0.28 |
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 | 0.27 | +0.05 |
Drawdowns
FRNU.DE vs. QDVY.DE - Drawdown Comparison
The maximum FRNU.DE drawdown since its inception was -14.79%, roughly equal to the maximum QDVY.DE drawdown of -14.81%. Use the drawdown chart below to compare losses from any high point for FRNU.DE and QDVY.DE.
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Drawdown Indicators
| FRNU.DE | QDVY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.79% | -14.81% | +0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -5.67% | +2.42% |
Max Drawdown (3Y)Largest decline over 3 years | -11.40% | -14.81% | +3.41% |
Max Drawdown (5Y)Largest decline over 5 years | -11.40% | -14.81% | +3.41% |
Max Drawdown (10Y)Largest decline over 10 years | -14.79% | — | — |
Current DrawdownCurrent decline from peak | -6.01% | -12.65% | +6.64% |
Average DrawdownAverage peak-to-trough decline | -5.47% | -5.01% | -0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.58% | 2.63% | -1.05% |
Volatility
FRNU.DE vs. QDVY.DE - Volatility Comparison
The current volatility for Amundi Floating Rate USD Corporate ESG UCITS ETF USD (FRNU.DE) is 1.33%, while iShares USD Floating Rate Bond UCITS ETF (QDVY.DE) has a volatility of 2.20%. This indicates that FRNU.DE experiences smaller price fluctuations and is considered to be less risky than QDVY.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 | QDVY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 2.20% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 4.19% | 4.35% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.12% | 6.84% | -0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.60% | 7.90% | -0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.50% | 7.71% | -0.21% |
FRNU.DE vs. QDVY.DE - Expense Ratio Comparison
FRNU.DE has a 0.18% expense ratio, which is higher than QDVY.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. QDVY.DE - Dividend Comparison
Neither FRNU.DE nor QDVY.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
QDVY.DE iShares USD Floating Rate Bond UCITS ETF | 0.00% | 0.00% | 2.90% | 5.61% | 1.50% | 0.57% | 1.75% | 2.94% | 2.20% | 0.47% |
Frequently Asked Questions
With a correlation of 0.93, FRNU.DE and QDVY.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, QDVY.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QDVY.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 QDVY.DE tracks Bloomberg US Floating Rate Notes 1-5. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.18% for FRNU.DE and 0.10% for QDVY.DE.
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