FRNU.DE vs. XGBE.DE
FRNU.DE (Amundi Floating Rate USD Corporate ESG UCITS ETF USD) and XGBE.DE (Xtrackers EUR Corporate Green Bond UCITS ETF (Acc)) are both Corporate Bonds funds - FRNU.DE tracks the iBoxx MSCI ESG USD FRN Investment Grade Corporates while XGBE.DE tracks the Bloomberg MSCI EUR Corporate and Agency Green Bond Index. Both are passively managed. Over the past 5 years, FRNU.DE returned 4.95%/yr vs -1.12%/yr for XGBE.DE. At a correlation of -0.15, they often move in opposite directions. FRNU.DE charges 0.18%/yr vs 0.25%/yr for XGBE.DE.
Performance
FRNU.DE vs. XGBE.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 XGBE.DE's 0.32% 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%
XGBE.DE
- 1D
- -0.07%
- 1M
- -0.50%
- 6M
- 0.04%
- YTD
- 0.32%
- 1Y
- 1.16%
- 3Y*
- 3.78%
- 5Y*
- -1.12%
- 10Y*
- —
FRNU.DE vs. XGBE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FRNU.DE Amundi Floating Rate USD Corporate ESG UCITS ETF USD | 5.23% | -6.54% | 12.72% | 2.79% | 7.34% | 5.28% |
XGBE.DE Xtrackers EUR Corporate Green Bond UCITS ETF (Acc) | 0.32% | 2.73% | 3.40% | 7.52% | -16.38% | -0.21% |
Correlation
The correlation between FRNU.DE and XGBE.DE is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2021 | -0.15 |
The correlation between FRNU.DE and XGBE.DE shifts across timeframes, from -0.29 (1 year) to -0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FRNU.DE vs. XGBE.DE — Risk / Return Rank
FRNU.DE
XGBE.DE
FRNU.DE vs. XGBE.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 Xtrackers EUR Corporate Green Bond UCITS ETF (Acc) (XGBE.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 | XGBE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.07 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 0.44 | +1.48 |
| Martin ratioReturn relative to average drawdown | 4.43 | 1.36 | +3.07 |
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Drawdowns
FRNU.DE vs. XGBE.DE - Drawdown Comparison
The maximum FRNU.DE drawdown since its inception was -19.45%, roughly equal to the maximum XGBE.DE drawdown of -20.20%. Use the drawdown chart below to compare losses from any high point for FRNU.DE and XGBE.DE.
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Drawdown Indicators
| FRNU.DE | XGBE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.45% | -20.20% | +0.75% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -2.62% | -0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -11.41% | -2.62% | -8.79% |
Max Drawdown (5Y)Largest decline over 5 years | -11.41% | -20.20% | +8.79% |
Max Drawdown (10Y)Largest decline over 10 years | -19.45% | — | — |
Current DrawdownCurrent decline from peak | -4.07% | -6.22% | +2.15% |
Average DrawdownAverage peak-to-trough decline | -7.78% | -10.28% | +2.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 0.85% | +0.56% |
Volatility
FRNU.DE vs. XGBE.DE - Volatility Comparison
Amundi Floating Rate USD Corporate ESG UCITS ETF USD (FRNU.DE) has a higher volatility of 1.23% compared to Xtrackers EUR Corporate Green Bond UCITS ETF (Acc) (XGBE.DE) at 0.81%. This indicates that FRNU.DE's price experiences larger fluctuations and is considered to be riskier than XGBE.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 | XGBE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 0.81% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 4.30% | 2.74% | +1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.01% | 3.27% | +2.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.58% | 5.05% | +2.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.96% | 5.02% | +11.94% |
FRNU.DE vs. XGBE.DE - Expense Ratio Comparison
FRNU.DE has a 0.18% expense ratio, which is lower than XGBE.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. XGBE.DE - Dividend Comparison
Neither FRNU.DE nor XGBE.DE has paid dividends to shareholders.
Frequently Asked Questions
FRNU.DE and XGBE.DE have a correlation of -0.29, 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 XGBE.DE.
FRNU.DE tracks iBoxx MSCI ESG USD FRN Investment Grade Corporates, while XGBE.DE tracks Bloomberg MSCI EUR Corporate and Agency Green Bond Index. They also come from different issuers: Amundi and Xtrackers. Their fees differ too: 0.18% for FRNU.DE and 0.25% for XGBE.DE.
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