QDVY.DE vs. XAT1.DE
QDVY.DE (iShares USD Floating Rate Bond UCITS ETF) and XAT1.DE (Invesco AT1 Capital Bond ETF EUR Hedged Dist) are both Corporate Bonds funds - QDVY.DE tracks the Bloomberg US Floating Rate Notes 1-5 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, QDVY.DE returned 3.10%/yr vs 0.67%/yr for XAT1.DE. At a correlation of -0.17, they often move in opposite directions. QDVY.DE charges 0.10%/yr vs 0.39%/yr for XAT1.DE.
Performance
QDVY.DE vs. XAT1.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, QDVY.DE achieves a 0.88% return, which is significantly higher than XAT1.DE's 0.23% return.
QDVY.DE
- 1D
- -0.14%
- 1M
- -0.63%
- YTD
- 0.88%
- 6M
- 0.12%
- 1Y
- -1.37%
- 3Y*
- -0.58%
- 5Y*
- 3.10%
- 10Y*
- —
XAT1.DE
- 1D
- -0.09%
- 1M
- -1.42%
- YTD
- 0.23%
- 6M
- 0.99%
- 1Y
- 5.49%
- 3Y*
- 8.79%
- 5Y*
- 0.67%
- 10Y*
- —
QDVY.DE vs. XAT1.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
QDVY.DE iShares USD Floating Rate Bond UCITS ETF | 0.88% | -11.19% | 9.21% | 2.97% | 7.53% | 8.93% | -8.09% | 6.69% | 1.25% |
XAT1.DE Invesco AT1 Capital Bond ETF EUR Hedged Dist | 0.23% | 8.61% | 8.34% | -0.02% | -12.08% | 2.58% | 5.80% | 15.11% | -0.93% |
Correlation
The correlation between QDVY.DE and XAT1.DE is -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.20 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018 | -0.17 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
QDVY.DE vs. XAT1.DE — Risk / Return Rank
QDVY.DE
XAT1.DE
QDVY.DE vs. XAT1.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 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.
| QDVY.DE | XAT1.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.37 | ||
| Sortino ratioReturn per unit of downside risk | -1.91 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.24 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | 1.55 | -1.82 |
| Martin ratioReturn relative to average drawdown | -0.59 | 6.31 | -6.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| QDVY.DE | XAT1.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.23 | 1.15 | -1.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.08 | +0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.31 | -0.04 |
Drawdowns
QDVY.DE vs. XAT1.DE - Drawdown Comparison
The maximum QDVY.DE drawdown since its inception was -14.81%, smaller than the maximum XAT1.DE drawdown of -28.95%. Use the drawdown chart below to compare losses from any high point for QDVY.DE and XAT1.DE.
Loading charts...
Drawdown Indicators
| QDVY.DE | XAT1.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.81% | -28.95% | +14.14% |
Max Drawdown (1Y)Largest decline over 1 year | -5.67% | -3.63% | -2.04% |
Max Drawdown (3Y)Largest decline over 3 years | -14.81% | -4.67% | -10.14% |
Max Drawdown (5Y)Largest decline over 5 years | -14.81% | -27.74% | +12.93% |
Current DrawdownCurrent decline from peak | -12.65% | -1.42% | -11.23% |
Average DrawdownAverage peak-to-trough decline | -5.01% | -6.38% | +1.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.63% | 0.89% | +1.74% |
Volatility
QDVY.DE vs. XAT1.DE - Volatility Comparison
iShares USD Floating Rate Bond UCITS ETF (QDVY.DE) has a higher volatility of 2.20% compared to Invesco AT1 Capital Bond ETF EUR Hedged Dist (XAT1.DE) at 1.69%. This indicates that QDVY.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.
Loading charts...
Volatility by Period
| QDVY.DE | XAT1.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.20% | 1.69% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 4.35% | 4.41% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.84% | 4.91% | +1.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.90% | 8.18% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.71% | 10.25% | -2.54% |
QDVY.DE vs. XAT1.DE - Expense Ratio Comparison
QDVY.DE has a 0.10% expense ratio, which is lower than XAT1.DE's 0.39% expense ratio.
Dividends
QDVY.DE vs. XAT1.DE - Dividend Comparison
QDVY.DE has not paid dividends to shareholders, while XAT1.DE's dividend yield for the trailing twelve months is around 5.94%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
QDVY.DE iShares USD Floating Rate Bond UCITS ETF | 0.00% | 0.00% | 2.90% | 5.61% | 1.50% | 0.57% | 1.75% | 2.94% | 2.20% | 0.47% |
XAT1.DE Invesco AT1 Capital Bond ETF EUR Hedged Dist | 5.94% | 5.95% | 6.40% | 6.17% | 6.02% | 4.42% | 5.23% | 5.59% | 2.63% | 0.00% |
Frequently Asked Questions
QDVY.DE and XAT1.DE have a correlation of -0.25, 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 0.39% for XAT1.DE.
QDVY.DE tracks Bloomberg US Floating Rate Notes 1-5, 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: iShares and Invesco. Their fees differ too: 0.10% for QDVY.DE and 0.39% for XAT1.DE.
Find the right allocation for QDVY.DE and XAT1.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer