XAT1.DE vs. PRAP.DE
XAT1.DE (Invesco AT1 Capital Bond ETF EUR Hedged Dist) and PRAP.DE (Amundi Core USD Corporate Bond UCITS ETF (Acc)) are both Corporate Bonds funds - XAT1.DE tracks the Markit iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) TR Index - USD while PRAP.DE tracks the Bloomberg US Corporate Liquid Issuer Index. Both are passively managed. Over the past 5 years, XAT1.DE returned 0.68%/yr vs 0.59%/yr for PRAP.DE. At a 0.02 correlation, their price movements are largely independent. XAT1.DE charges 0.39%/yr vs 0.07%/yr for PRAP.DE.
Performance
XAT1.DE vs. PRAP.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XAT1.DE achieves a 0.81% return, which is significantly lower than PRAP.DE's 2.44% return.
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
- 1D
- 0.16%
- 1M
- 0.32%
- 6M
- 0.91%
- YTD
- 2.44%
- 1Y
- 5.54%
- 3Y*
- 3.99%
- 5Y*
- 0.59%
- 10Y*
- —
XAT1.DE vs. PRAP.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XAT1.DE Invesco AT1 Capital Bond ETF EUR Hedged Dist | 0.81% | 8.65% | 8.27% | 0.01% | -12.09% | 2.57% | 4.95% |
PRAP.DE Amundi Core USD Corporate Bond UCITS ETF (Acc) | 2.44% | -3.96% | 7.69% | 4.70% | -10.24% | 6.82% | -11.43% |
Correlation
The correlation between XAT1.DE and PRAP.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
XAT1.DE vs. PRAP.DE — Risk / Return Rank
XAT1.DE
PRAP.DE
XAT1.DE vs. PRAP.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco AT1 Capital Bond ETF EUR Hedged Dist (XAT1.DE) and Amundi Core USD Corporate Bond UCITS ETF (Acc) (PRAP.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.
| XAT1.DE | PRAP.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 | 1.19 | 1.17 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 1.53 | -0.20 |
| Martin ratioReturn relative to average drawdown | 5.15 | 3.88 | +1.26 |
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Drawdowns
XAT1.DE vs. PRAP.DE - Drawdown Comparison
The maximum XAT1.DE drawdown since its inception was -28.81%, which is greater than PRAP.DE's maximum drawdown of -18.71%. Use the drawdown chart below to compare losses from any high point for XAT1.DE and PRAP.DE.
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Drawdown Indicators
| XAT1.DE | PRAP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.81% | -18.71% | -10.10% |
Max Drawdown (1Y)Largest decline over 1 year | -3.64% | -3.62% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -4.62% | -11.80% | +7.18% |
Max Drawdown (5Y)Largest decline over 5 years | -27.73% | -13.30% | -14.43% |
Current DrawdownCurrent decline from peak | -0.86% | -6.35% | +5.49% |
Average DrawdownAverage peak-to-trough decline | -6.27% | -10.13% | +3.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 1.42% | -0.48% |
Volatility
XAT1.DE vs. PRAP.DE - Volatility Comparison
The current volatility for Invesco AT1 Capital Bond ETF EUR Hedged Dist (XAT1.DE) is 1.34%, while Amundi Core USD Corporate Bond UCITS ETF (Acc) (PRAP.DE) has a volatility of 1.49%. This indicates that XAT1.DE experiences smaller price fluctuations and is considered to be less risky than PRAP.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XAT1.DE | PRAP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 1.49% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 4.65% | 4.06% | +0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.13% | 6.07% | -0.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.19% | 8.33% | -0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.30% | 9.55% | +0.75% |
XAT1.DE vs. PRAP.DE - Expense Ratio Comparison
XAT1.DE has a 0.39% expense ratio, which is higher than PRAP.DE's 0.07% expense ratio.
Dividends
XAT1.DE vs. PRAP.DE - Dividend Comparison
XAT1.DE's dividend yield for the trailing twelve months is around 6.06%, while PRAP.DE has not paid dividends to shareholders.
| 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
XAT1.DE and PRAP.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.
XAT1.DE tracks Markit iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) TR Index - USD, while PRAP.DE tracks Bloomberg US Corporate Liquid Issuer Index. They also come from different issuers: Invesco and Amundi. Their fees differ too: 0.39% for XAT1.DE and 0.07% for PRAP.DE.
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