ZPA5.DE vs. FRNH.DE
ZPA5.DE (Amundi S&P 500 Climate Paris Aligned UCITS ETF Acc) and FRNH.DE (Amundi USD Floating Rate Corporate Bond ESG UCITS ETF EUR Hedged (Acc)) are both exchange-traded funds - ZPA5.DE is a ESG fund tracking the S&P 500 Net Zero 2050 Paris-Aligned ESG+ Index, while FRNH.DE is a Corporate Bonds fund tracking the iBoxx MSCI ESG USD FRN Investment Grade Corporates Index (EUR Hedged). Both are passively managed. Over the past year, ZPA5.DE returned 19.31% vs 2.88% for FRNH.DE. At a 0.15 correlation, their price movements are largely independent. ZPA5.DE charges 0.07%/yr vs 0.20%/yr for FRNH.DE.
Performance
ZPA5.DE vs. FRNH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPA5.DE achieves a 9.68% return, which is significantly higher than FRNH.DE's 1.45% return.
ZPA5.DE
- 1D
- 0.00%
- 1M
- 1.14%
- 6M
- 9.82%
- YTD
- 9.68%
- 1Y
- 19.31%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FRNH.DE
- 1D
- -0.02%
- 1M
- 0.27%
- 6M
- 1.36%
- YTD
- 1.45%
- 1Y
- 2.88%
- 3Y*
- 3.81%
- 5Y*
- 2.44%
- 10Y*
- 1.22%
ZPA5.DE vs. FRNH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ZPA5.DE Amundi S&P 500 Climate Paris Aligned UCITS ETF Acc | 9.68% | 2.76% | 34.10% | 4.52% |
FRNH.DE Amundi USD Floating Rate Corporate Bond ESG UCITS ETF EUR Hedged (Acc) | 1.45% | 2.90% | 4.99% | 0.47% |
Correlation
The correlation between ZPA5.DE and FRNH.DE is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Nov 27, 2023 | 0.15 |
The correlation between ZPA5.DE and FRNH.DE shifts across timeframes, from 0.15 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ZPA5.DE vs. FRNH.DE — Risk / Return Rank
ZPA5.DE
FRNH.DE
ZPA5.DE vs. FRNH.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi S&P 500 Climate Paris Aligned UCITS ETF Acc (ZPA5.DE) and Amundi USD Floating Rate Corporate Bond ESG UCITS ETF EUR Hedged (Acc) (FRNH.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.
| ZPA5.DE | FRNH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.39 | ||
| Sortino ratioReturn per unit of downside risk | -3.43 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.88 | -0.61 |
| Calmar ratioReturn relative to maximum drawdown | 0.95 | 8.02 | -7.07 |
| Martin ratioReturn relative to average drawdown | 1.71 | 38.83 | -37.12 |
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Drawdowns
ZPA5.DE vs. FRNH.DE - Drawdown Comparison
The maximum ZPA5.DE drawdown since its inception was -23.13%, which is greater than FRNH.DE's maximum drawdown of -15.25%. Use the drawdown chart below to compare losses from any high point for ZPA5.DE and FRNH.DE.
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Drawdown Indicators
| ZPA5.DE | FRNH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.13% | -15.25% | -7.88% |
Max Drawdown (1Y)Largest decline over 1 year | -20.40% | -0.36% | -20.04% |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.39% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -3.17% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.25% | — |
Current DrawdownCurrent decline from peak | -5.15% | -0.02% | -5.13% |
Average DrawdownAverage peak-to-trough decline | -6.36% | -0.87% | -5.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.30% | 0.07% | +11.23% |
Volatility
ZPA5.DE vs. FRNH.DE - Volatility Comparison
Amundi S&P 500 Climate Paris Aligned UCITS ETF Acc (ZPA5.DE) has a higher volatility of 2.90% compared to Amundi USD Floating Rate Corporate Bond ESG UCITS ETF EUR Hedged (Acc) (FRNH.DE) at 0.11%. This indicates that ZPA5.DE's price experiences larger fluctuations and is considered to be riskier than FRNH.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPA5.DE | FRNH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.90% | 0.11% | +2.79% |
Volatility (6M)Calculated over the trailing 6-month period | 8.45% | 0.53% | +7.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.55% | 0.90% | +23.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.74% | 2.42% | +17.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.74% | 3.36% | +16.38% |
ZPA5.DE vs. FRNH.DE - Expense Ratio Comparison
ZPA5.DE has a 0.07% expense ratio, which is lower than FRNH.DE's 0.20% 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
ZPA5.DE vs. FRNH.DE - Dividend Comparison
Neither ZPA5.DE nor FRNH.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPA5.DE and FRNH.DE have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPA5.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPA5.DE is cheaper with a 0.07% expense ratio, compared with 0.20% for FRNH.DE.
ZPA5.DE is categorized as ESG, while FRNH.DE is Corporate Bonds. ZPA5.DE tracks S&P 500 Net Zero 2050 Paris-Aligned ESG+ Index, while FRNH.DE tracks iBoxx MSCI ESG USD FRN Investment Grade Corporates Index (EUR Hedged). Their fees differ too: 0.07% for ZPA5.DE and 0.20% for FRNH.DE.
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