FRNU.DE vs. SPPU.DE
FRNU.DE (Amundi Floating Rate USD Corporate ESG UCITS ETF USD) and SPPU.DE (SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF) are both Corporate Bonds funds - FRNU.DE tracks the iBoxx MSCI ESG USD FRN Investment Grade Corporates while SPPU.DE tracks the Bloomberg SASB US Corporate ESG Ex-Controversies Select. Both are passively managed. Over the past 5 years, FRNU.DE returned 5.15%/yr vs 1.29%/yr for SPPU.DE. A 0.57 correlation means they provide meaningful diversification when combined. FRNU.DE charges 0.18%/yr vs 0.15%/yr for SPPU.DE.
Performance
FRNU.DE vs. SPPU.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 SPPU.DE's 1.68% 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%
SPPU.DE
- 1D
- 0.14%
- 1M
- 1.15%
- YTD
- 1.68%
- 6M
- 0.95%
- 1Y
- 4.12%
- 3Y*
- 2.27%
- 5Y*
- 1.29%
- 10Y*
- —
FRNU.DE vs. SPPU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FRNU.DE Amundi Floating Rate USD Corporate ESG UCITS ETF USD | 3.11% | -6.55% | 12.73% | 2.79% | 7.34% | 8.64% | -3.59% |
SPPU.DE SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF | 1.68% | -4.22% | 7.66% | 4.50% | -10.58% | 6.82% | -1.58% |
Correlation
The correlation between FRNU.DE and SPPU.DE is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2020 | 0.57 |
The correlation between FRNU.DE and SPPU.DE shifts across timeframes, from 0.55 (5 years) to 0.66 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FRNU.DE vs. SPPU.DE — Risk / Return Rank
FRNU.DE
SPPU.DE
FRNU.DE vs. SPPU.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 SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF (SPPU.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 | SPPU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.12 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | 1.12 | -0.09 |
| Martin ratioReturn relative to average drawdown | 2.13 | 2.87 | -0.74 |
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 | SPPU.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.55 | 0.65 | -0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.15 | +0.52 |
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 | 0.06 | +0.25 |
Drawdowns
FRNU.DE vs. SPPU.DE - Drawdown Comparison
The maximum FRNU.DE drawdown since its inception was -14.79%, which is greater than SPPU.DE's maximum drawdown of -13.50%. Use the drawdown chart below to compare losses from any high point for FRNU.DE and SPPU.DE.
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Drawdown Indicators
| FRNU.DE | SPPU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.79% | -13.50% | -1.29% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -3.32% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -11.40% | -11.44% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -11.40% | -13.50% | +2.10% |
Max Drawdown (10Y)Largest decline over 10 years | -14.79% | — | — |
Current DrawdownCurrent decline from peak | -6.01% | -5.13% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -5.47% | -6.15% | +0.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.58% | 1.29% | +0.29% |
Volatility
FRNU.DE vs. SPPU.DE - Volatility Comparison
Amundi Floating Rate USD Corporate ESG UCITS ETF USD (FRNU.DE) has a higher volatility of 1.33% compared to SPDR Bloomberg SASB U.S. Corporate ESG UCITS ETF (SPPU.DE) at 1.00%. This indicates that FRNU.DE's price experiences larger fluctuations and is considered to be riskier than SPPU.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 | SPPU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 1.00% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 4.19% | 3.94% | +0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.12% | 5.71% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.60% | 8.42% | -0.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.50% | 8.29% | -0.79% |
FRNU.DE vs. SPPU.DE - Expense Ratio Comparison
FRNU.DE has a 0.18% expense ratio, which is higher than SPPU.DE's 0.15% 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. SPPU.DE - Dividend Comparison
Neither FRNU.DE nor SPPU.DE has paid dividends to shareholders.
Frequently Asked Questions
FRNU.DE and SPPU.DE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPPU.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPPU.DE is cheaper with a 0.15% expense ratio, compared with 0.18% for FRNU.DE.
FRNU.DE tracks iBoxx MSCI ESG USD FRN Investment Grade Corporates, while SPPU.DE tracks Bloomberg SASB US Corporate ESG Ex-Controversies Select. They also come from different issuers: Amundi and State Street. Their fees differ too: 0.18% for FRNU.DE and 0.15% for SPPU.DE.
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