QDVY.DE vs. FRNU.DE
QDVY.DE (iShares USD Floating Rate Bond UCITS ETF) and FRNU.DE (Amundi Floating Rate USD Corporate ESG UCITS ETF USD) are both Corporate Bonds funds - QDVY.DE tracks the Bloomberg US Floating Rate Notes 1-5 while FRNU.DE tracks the iBoxx MSCI ESG USD FRN Investment Grade Corporates. Both are passively managed. Over the past 5 years, QDVY.DE returned 5.20%/yr vs 5.12%/yr for FRNU.DE. Their correlation of 0.93 suggests significant overlap in exposure. QDVY.DE charges 0.10%/yr vs 0.18%/yr for FRNU.DE.
Performance
QDVY.DE vs. FRNU.DE - Performance Comparison
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Returns By Period
In the year-to-date period, QDVY.DE achieves a 3.38% return, which is significantly lower than FRNU.DE's 3.62% return.
QDVY.DE
- 1D
- -0.69%
- 1M
- 1.48%
- YTD
- 3.38%
- 6M
- 3.38%
- 1Y
- 4.76%
- 3Y*
- 3.23%
- 5Y*
- 5.20%
- 10Y*
- —
FRNU.DE
- 1D
- -0.43%
- 1M
- 1.72%
- YTD
- 3.62%
- 6M
- 3.59%
- 1Y
- 5.16%
- 3Y*
- 3.24%
- 5Y*
- 5.12%
- 10Y*
- 2.83%
QDVY.DE vs. FRNU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QDVY.DE iShares USD Floating Rate Bond UCITS ETF | 3.38% | -6.57% | 12.71% | 2.90% | 7.46% | 9.00% | -8.10% | 6.74% | 5.86% | -15.81% |
FRNU.DE Amundi Floating Rate USD Corporate ESG UCITS ETF USD | 3.62% | -6.54% | 12.72% | 2.79% | 7.34% | 8.64% | -7.76% | 7.65% | 4.93% | -4.10% |
Correlation
The correlation between QDVY.DE and FRNU.DE is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2017 | 0.93 |
The correlation between QDVY.DE and FRNU.DE has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.
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Return for Risk
QDVY.DE vs. FRNU.DE — Risk / Return Rank
QDVY.DE
FRNU.DE
QDVY.DE vs. FRNU.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Floating Rate Bond UCITS ETF (QDVY.DE) and Amundi Floating Rate USD Corporate ESG UCITS ETF USD (FRNU.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.
| QDVY.DE | FRNU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.15 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | 1.58 | -0.11 |
| Martin ratioReturn relative to average drawdown | 3.37 | 3.42 | -0.05 |
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Drawdowns
QDVY.DE vs. FRNU.DE - Drawdown Comparison
The maximum QDVY.DE drawdown since its inception was -19.19%, roughly equal to the maximum FRNU.DE drawdown of -19.45%. Use the drawdown chart below to compare losses from any high point for QDVY.DE and FRNU.DE.
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Drawdown Indicators
| QDVY.DE | FRNU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.19% | -19.45% | +0.26% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -3.25% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -11.29% | -11.41% | +0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -11.29% | -11.41% | +0.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.45% | — |
Current DrawdownCurrent decline from peak | -5.76% | -5.54% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -7.38% | -7.81% | +0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 1.51% | -0.10% |
Volatility
QDVY.DE vs. FRNU.DE - Volatility Comparison
iShares USD Floating Rate Bond UCITS ETF (QDVY.DE) has a higher volatility of 1.57% compared to Amundi Floating Rate USD Corporate ESG UCITS ETF USD (FRNU.DE) at 1.47%. This indicates that QDVY.DE's price experiences larger fluctuations and is considered to be riskier than FRNU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| QDVY.DE | FRNU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.57% | 1.47% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 4.22% | 4.25% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.08% | 6.15% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.86% | 7.60% | +0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.04% | 18.44% | -9.40% |
QDVY.DE vs. FRNU.DE - Expense Ratio Comparison
QDVY.DE has a 0.10% expense ratio, which is lower than FRNU.DE's 0.18% 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
QDVY.DE vs. FRNU.DE - Dividend Comparison
QDVY.DE's dividend yield for the trailing twelve months is around 4.68%, while FRNU.DE has not 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 | 4.68% | 5.18% | 5.89% | 5.61% | 1.50% | 0.57% | 1.75% | 2.94% | 2.20% | 0.47% |
Frequently Asked Questions
QDVY.DE and FRNU.DE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
QDVY.DE tracks Bloomberg US Floating Rate Notes 1-5, while FRNU.DE tracks iBoxx MSCI ESG USD FRN Investment Grade Corporates. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.10% for QDVY.DE and 0.18% for FRNU.DE.
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