VUCE.DE vs. FRNU.DE
VUCE.DE (Vanguard USD Corporate Bond UCITS ETF Accumulating) and FRNU.DE (Amundi Floating Rate USD Corporate ESG UCITS ETF USD) are both Corporate Bonds funds - VUCE.DE tracks the Bloomberg Global Aggregate Corporate USD while FRNU.DE tracks the iBoxx MSCI ESG USD FRN Investment Grade Corporates. Both are passively managed. Over the past 5 years, VUCE.DE returned 1.63%/yr vs 5.15%/yr for FRNU.DE. A 0.62 correlation means they provide meaningful diversification when combined. VUCE.DE charges 0.09%/yr vs 0.18%/yr for FRNU.DE.
Performance
VUCE.DE vs. FRNU.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VUCE.DE achieves a 1.67% return, which is significantly lower than FRNU.DE's 3.11% return.
VUCE.DE
- 1D
- 0.13%
- 1M
- 1.23%
- YTD
- 1.67%
- 6M
- 1.00%
- 1Y
- 4.10%
- 3Y*
- 2.60%
- 5Y*
- 1.63%
- 10Y*
- —
FRNU.DE
- 1D
- -0.07%
- 1M
- 1.57%
- YTD
- 3.11%
- 6M
- 2.36%
- 1Y
- 3.47%
- 3Y*
- 2.89%
- 5Y*
- 5.15%
- 10Y*
- 2.93%
VUCE.DE vs. FRNU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VUCE.DE Vanguard USD Corporate Bond UCITS ETF Accumulating | 1.67% | -4.17% | 8.58% | 4.45% | -9.55% | 7.08% | -0.48% | 6.52% |
FRNU.DE Amundi Floating Rate USD Corporate ESG UCITS ETF USD | 3.11% | -6.55% | 12.73% | 2.79% | 7.34% | 8.64% | -7.76% | 2.71% |
Correlation
The correlation between VUCE.DE and FRNU.DE is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2019 | 0.62 |
The correlation between VUCE.DE and FRNU.DE has been stable across timeframes, ranging from 0.60 to 0.69 - a consistent structural relationship.
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Return for Risk
VUCE.DE vs. FRNU.DE — Risk / Return Rank
VUCE.DE
FRNU.DE
VUCE.DE vs. FRNU.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Corporate Bond UCITS ETF Accumulating (VUCE.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.
| VUCE.DE | FRNU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.10 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 1.03 | +0.13 |
| Martin ratioReturn relative to average drawdown | 2.99 | 2.13 | +0.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VUCE.DE | FRNU.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.66 | 0.55 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.67 | -0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.32 | -0.10 |
Drawdowns
VUCE.DE vs. FRNU.DE - Drawdown Comparison
The maximum VUCE.DE drawdown since its inception was -13.02%, smaller than the maximum FRNU.DE drawdown of -14.79%. Use the drawdown chart below to compare losses from any high point for VUCE.DE and FRNU.DE.
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Drawdown Indicators
| VUCE.DE | FRNU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.02% | -14.79% | +1.77% |
Max Drawdown (1Y)Largest decline over 1 year | -3.24% | -3.25% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -11.15% | -11.40% | +0.25% |
Max Drawdown (5Y)Largest decline over 5 years | -12.75% | -11.40% | -1.35% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.79% | — |
Current DrawdownCurrent decline from peak | -5.08% | -6.01% | +0.93% |
Average DrawdownAverage peak-to-trough decline | -5.43% | -5.47% | +0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 1.58% | -0.32% |
Volatility
VUCE.DE vs. FRNU.DE - Volatility Comparison
The current volatility for Vanguard USD Corporate Bond UCITS ETF Accumulating (VUCE.DE) is 0.91%, while Amundi Floating Rate USD Corporate ESG UCITS ETF USD (FRNU.DE) has a volatility of 1.33%. This indicates that VUCE.DE experiences smaller price fluctuations and is considered to be less risky 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
| VUCE.DE | FRNU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 1.33% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 3.98% | 4.19% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.71% | 6.12% | -0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.02% | 7.60% | +0.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.36% | 7.50% | +0.86% |
VUCE.DE vs. FRNU.DE - Expense Ratio Comparison
VUCE.DE has a 0.09% 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
VUCE.DE vs. FRNU.DE - Dividend Comparison
Neither VUCE.DE nor FRNU.DE has paid dividends to shareholders.
Frequently Asked Questions
VUCE.DE and FRNU.DE have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUCE.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUCE.DE is cheaper with a 0.09% expense ratio, compared with 0.18% for FRNU.DE.
VUCE.DE tracks Bloomberg Global Aggregate Corporate USD, while FRNU.DE tracks iBoxx MSCI ESG USD FRN Investment Grade Corporates. They also come from different issuers: Vanguard and Amundi. Their fees differ too: 0.09% for VUCE.DE and 0.18% for FRNU.DE.
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