PRIP.L vs. USDC.L

Last updated Jul 18, 2026

PRIP.L (Amundi Prime US Corporates UCITS ETF DR (D)) and USDC.L (L&G USD Corporate Bond Screened UCITS ETF USD (Dist)) are both Corporate Bonds funds - PRIP.L tracks the Bloomberg US Corp Bond TR USD while USDC.L tracks the J.P. Morgan Global Credit Index ESG Investment Grade USD Custom Maturity Index. Both are passively managed. Over the past 5 years, PRIP.L returned 0.43%/yr vs 0.60%/yr for USDC.L. A 0.79 correlation means they provide meaningful diversification when combined. PRIP.L charges 0.05%/yr vs 0.09%/yr for USDC.L.

Performance

PRIP.L vs. USDC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi Prime US Corporates UCITS ETF DR (D) (PRIP.L) and L&G USD Corporate Bond Screened UCITS ETF USD (Dist) (USDC.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PRIP.L is traded in GBp, while USDC.L is traded in USD. To make them comparable, the USDC.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, PRIP.L achieves a -0.61% return, which is significantly higher than USDC.L's -1.92% return.

PRIP.L

• 1D: 0.34%
• 1M: -1.45%
• 6M: -0.99%
• YTD: -0.61%
• 1Y: 3.89%
• 3Y*: 3.65%
• 5Y*: 0.43%
• 10Y*: —

USDC.L

• 1D: 0.28%
• 1M: -1.71%
• 6M: -0.03%
• YTD: -1.92%
• 1Y: 1.68%
• 3Y*: 3.22%
• 5Y*: 0.60%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PRIP.L vs. USDC.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PRIP.L Amundi Prime US Corporates UCITS ETF DR (D)	-0.61%	0.72%	3.72%	2.34%	-5.39%	1.22%
USDC.L L&G USD Corporate Bond Screened UCITS ETF USD (Dist)	-1.92%	-0.23%	4.93%	2.93%	-3.67%	-0.05%

Correlation

The correlation between PRIP.L and USDC.L is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jan 15, 2021	0.79

The correlation between PRIP.L and USDC.L has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

Return for Risk

PRIP.L vs. USDC.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PRIP.L

PRIP.L Risk / Return Rank: 21
PRIP.L Sharpe Ratio Rank: 22
PRIP.L Sortino Ratio Rank: 21
PRIP.L Omega Ratio Rank: 20
PRIP.L Calmar Ratio Rank: 23
PRIP.L Martin Ratio Rank: 21

USDC.L

USDC.L Risk / Return Rank: 16
USDC.L Sharpe Ratio Rank: 16
USDC.L Sortino Ratio Rank: 14
USDC.L Omega Ratio Rank: 16
USDC.L Calmar Ratio Rank: 16
USDC.L Martin Ratio Rank: 16

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PRIP.L vs. USDC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Prime US Corporates UCITS ETF DR (D) (PRIP.L) and L&G USD Corporate Bond Screened UCITS ETF USD (Dist) (USDC.L). 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.

	PRIP.L	USDC.L	Difference
Sharpe ratio: Return per unit of total volatility	0.60	0.21	+0.39
Sortino ratio: Return per unit of downside risk	0.93	0.34	+0.59
Omega ratio: Gain probability vs. loss probability	1.10	1.04	+0.06
Calmar ratio: Return relative to maximum drawdown	0.80	0.23	+0.57
Martin ratio: Return relative to average drawdown	1.79	0.49	+1.30

PRIP.L vs. USDC.L - Sharpe Ratio Comparison

The current PRIP.L Sharpe Ratio is 0.60, which is higher than the USDC.L Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of PRIP.L and USDC.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PRIP.L vs. USDC.L - Drawdown Comparison

The maximum PRIP.L drawdown since its inception was -26.79%, which is greater than USDC.L's maximum drawdown of -13.86%. Use the drawdown chart below to compare losses from any high point for PRIP.L and USDC.L.

Drawdown Indicators

	PRIP.L	USDC.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.79%	-13.86%	-12.93%
Max Drawdown (1Y) Largest decline over 1 year	-4.85%	-7.37%	+2.52%
Max Drawdown (3Y) Largest decline over 3 years	-8.76%	-8.93%	+0.17%
Max Drawdown (5Y) Largest decline over 5 years	-12.69%	-13.86%	+1.17%
Current Drawdown Current decline from peak	-18.08%	-4.58%	-13.50%
Average Drawdown Average peak-to-trough decline	-20.14%	-5.59%	-14.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	3.40%	-1.24%

Volatility

PRIP.L vs. USDC.L - Volatility Comparison

The current volatility for Amundi Prime US Corporates UCITS ETF DR (D) (PRIP.L) is 1.73%, while L&G USD Corporate Bond Screened UCITS ETF USD (Dist) (USDC.L) has a volatility of 1.92%. This indicates that PRIP.L experiences smaller price fluctuations and is considered to be less risky than USDC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRIP.L	USDC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.73%	1.92%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	4.82%	5.82%	-1.00%
Volatility (1Y) Calculated over the trailing 1-year period	6.49%	7.83%	-1.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.83%	9.02%	-0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.06%	8.90%	+3.16%

PRIP.L vs. USDC.L - Expense Ratio Comparison

PRIP.L has a 0.05% expense ratio, which is lower than USDC.L's 0.09% 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

PRIP.L vs. USDC.L - Dividend Comparison

PRIP.L's dividend yield for the trailing twelve months is around 4.76%, more than USDC.L's 2.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
PRIP.L Amundi Prime US Corporates UCITS ETF DR (D)	4.76%	4.73%	4.29%	4.10%	4.14%	3.33%	3.30%
USDC.L L&G USD Corporate Bond Screened UCITS ETF USD (Dist)	2.44%	4.47%	4.08%	3.24%	2.36%	0.78%	0.00%

Frequently Asked Questions

Can I hold both PRIP.L and USDC.L in my portfolio?

PRIP.L and USDC.L have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PRIP.L or USDC.L?

On fees, PRIP.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PRIP.L or USDC.L?

PRIP.L is cheaper with a 0.05% expense ratio, compared with 0.09% for USDC.L.

What is the main difference between PRIP.L and USDC.L?

PRIP.L tracks Bloomberg US Corp Bond TR USD, while USDC.L tracks J.P. Morgan Global Credit Index ESG Investment Grade USD Custom Maturity Index. They also come from different issuers: Amundi and L&G. Their fees differ too: 0.05% for PRIP.L and 0.09% for USDC.L.