PRAP.DE vs. XAT1.DE
PRAP.DE (Amundi Core USD Corporate Bond UCITS ETF (Acc)) and XAT1.DE (Invesco AT1 Capital Bond ETF EUR Hedged Dist) are both Corporate Bonds funds - PRAP.DE tracks the Bloomberg US Corporate Liquid Issuer Index while XAT1.DE tracks the Markit iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) TR Index - USD. Both are passively managed. Over the past 5 years, PRAP.DE returned 0.59%/yr vs 0.68%/yr for XAT1.DE. At a 0.02 correlation, their price movements are largely independent. PRAP.DE charges 0.07%/yr vs 0.39%/yr for XAT1.DE.
Performance
PRAP.DE vs. XAT1.DE - Performance Comparison
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Returns By Period
In the year-to-date period, PRAP.DE achieves a 2.44% return, which is significantly higher than XAT1.DE's 0.81% return.
PRAP.DE
- 1D
- 0.16%
- 1M
- 0.32%
- 6M
- 0.91%
- YTD
- 2.44%
- 1Y
- 5.54%
- 3Y*
- 3.99%
- 5Y*
- 0.59%
- 10Y*
- —
XAT1.DE
- 1D
- 0.00%
- 1M
- 0.06%
- 6M
- 0.39%
- YTD
- 0.81%
- 1Y
- 4.86%
- 3Y*
- 8.49%
- 5Y*
- 0.68%
- 10Y*
- —
PRAP.DE vs. XAT1.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PRAP.DE Amundi Core USD Corporate Bond UCITS ETF (Acc) | 2.44% | -3.96% | 7.69% | 4.70% | -10.24% | 6.82% | -11.43% |
XAT1.DE Invesco AT1 Capital Bond ETF EUR Hedged Dist | 0.81% | 8.65% | 8.27% | 0.01% | -12.09% | 2.57% | 4.95% |
Correlation
The correlation between PRAP.DE and XAT1.DE is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jan 22, 2020 | 0.02 |
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Return for Risk
PRAP.DE vs. XAT1.DE — Risk / Return Rank
PRAP.DE
XAT1.DE
PRAP.DE vs. XAT1.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Core USD Corporate Bond UCITS ETF (Acc) (PRAP.DE) and Invesco AT1 Capital Bond ETF EUR Hedged Dist (XAT1.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.
| PRAP.DE | XAT1.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.19 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 1.33 | +0.20 |
| Martin ratioReturn relative to average drawdown | 3.88 | 5.15 | -1.26 |
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Drawdowns
PRAP.DE vs. XAT1.DE - Drawdown Comparison
The maximum PRAP.DE drawdown since its inception was -18.71%, smaller than the maximum XAT1.DE drawdown of -28.81%. Use the drawdown chart below to compare losses from any high point for PRAP.DE and XAT1.DE.
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Drawdown Indicators
| PRAP.DE | XAT1.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.71% | -28.81% | +10.10% |
Max Drawdown (1Y)Largest decline over 1 year | -3.62% | -3.64% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -11.80% | -4.62% | -7.18% |
Max Drawdown (5Y)Largest decline over 5 years | -13.30% | -27.73% | +14.43% |
Current DrawdownCurrent decline from peak | -6.35% | -0.86% | -5.49% |
Average DrawdownAverage peak-to-trough decline | -10.13% | -6.27% | -3.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 0.94% | +0.48% |
Volatility
PRAP.DE vs. XAT1.DE - Volatility Comparison
Amundi Core USD Corporate Bond UCITS ETF (Acc) (PRAP.DE) has a higher volatility of 1.49% compared to Invesco AT1 Capital Bond ETF EUR Hedged Dist (XAT1.DE) at 1.34%. This indicates that PRAP.DE's price experiences larger fluctuations and is considered to be riskier than XAT1.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRAP.DE | XAT1.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 1.34% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 4.06% | 4.65% | -0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.07% | 5.13% | +0.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.33% | 8.19% | +0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.55% | 10.30% | -0.75% |
PRAP.DE vs. XAT1.DE - Expense Ratio Comparison
PRAP.DE has a 0.07% expense ratio, which is lower than XAT1.DE's 0.39% expense ratio.
Dividends
PRAP.DE vs. XAT1.DE - Dividend Comparison
PRAP.DE has not paid dividends to shareholders, while XAT1.DE's dividend yield for the trailing twelve months is around 6.06%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PRAP.DE Amundi Core USD Corporate Bond UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XAT1.DE Invesco AT1 Capital Bond ETF EUR Hedged Dist | 6.06% | 5.95% | 6.41% | 6.17% | 6.02% | 4.42% | 5.23% | 5.59% | 2.62% |
Frequently Asked Questions
PRAP.DE and XAT1.DE have a correlation of 0.07, 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 0.39% for XAT1.DE.
PRAP.DE tracks Bloomberg US Corporate Liquid Issuer Index, while XAT1.DE tracks Markit iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) TR Index - USD. They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.07% for PRAP.DE and 0.39% for XAT1.DE.
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