Comparison window: 21 Jan 2020 → 8 Sept 2026 (max: from the most recent launch) · currency: 🇪🇺 EUR · inflation: 🇮🇹 Italy · distributions: reinvested where declared
Report produced on 10 September 2026 · data as of the dates shown per section Sources: official issuer documents (KID, factsheet, declared NAV series and holdings), ESMA register, ECB rates, Eurostat Public methodology: rebalix.com/en/methodology
Informational document generated by rebalix.com — facts side by side, no recommendations. It does not constitute investment advice or investment research under Directive 2014/65/EU (MiFID II). Past performance is not indicative of future results.
RebalixAFLMX vs USFRN · report of 10 September 2026
The funds at a glance
From official issuer documents and the ESMA register
AFLMXLU2098887180Amundi USD Floating Rate Corporate Bond ESG UCITS ETF MXN Hedged AccBonds · Corporate USD · Global
Declared index
iBoxx MSCI ESG USD FRN Investment Grade Corporates TCA TRI
TER
0.14%
Transaction (KID)
0.14%
Fund size
197 mln EUR
Launch
21 Jan 2020
Currency
MXN
Replication
Physical
Hedging
Yes — in MXN
Holdings
420
Duration
0.00 yrs
Effective 🇮🇹 rate
26.00%
USFRNLU1681040900Amundi USD Floating Rate Corporate Bond ESG UCITS ETF AccBonds · Corporate USD · Global
Declared index
iBoxx MSCI ESG USD FRN Investment Grade Corporates TCA TRI
TER
0.18%
Transaction (KID)
0.11%
Fund size
471 mln EUR
Launch
4 Apr 2018
Currency
USD
Replication
Physical
Hedging
No
Holdings
420
Duration
0.00 yrs
Effective 🇮🇹 rate
26.00%
Tracking difference — year by year
Fund minus index, from issuer-declared series (complete calendar years). Each measures adherence to its OWN index.
AFLMX3y avg: +0.10%/anno
2025
+0.04%
2024
+0.44%
2023
−0.18%
2022
−0.32%
2021
−0.41%
USFRN3y avg: −0.15%/anno
2025
−0.05%
2024
−0.09%
2023
−0.30%
2022
−0.18%
2021
−0.28%
2020
−0.29%
Rebalix · AFLMX vs USFRNsection 1 of 4
RebalixAFLMX vs USFRN · report of 10 September 2026
From 21 Jan 2020 to 8 Sept 2026 · base 100 · ECB rates, dividends reinvested where declared
In euro (nominal)
In today’s purchasing power (net of Italy inflation)
Same scale in both panels: the gap between endpoints is Italian inflation over the period (Eurostat). Volatility stays nominal, as everywhere on the site.
How far they fell — drawdown from peak (nominal)
In euro · distance from the previous peak, day by day, on NAV: for distributing classes it includes ex-dividend drops (slightly deeper than total return)
Filled area: AFLMX; thin lines: the other funds.
The worst episode, fund by fund
Fund
Max drawdown
Trough
Recovery time
Underwater
AFLMX
−31.3%
24 Mar 2020
731 days
765 days · back to break-even on 25 Mar 2022
USFRN
−11.8%
06 Jan 2021
462 days
783 days · back to break-even on 13 Apr 2022
"Recovery time" = the climb only: trough to break-even (0%). "Underwater" = decline + recovery: peak to break-even.
Drawdown net of Italy inflation
Same curve in purchasing-power terms: as on the site, drawdown follows the real view (volatility stays nominal, per methodology)
In real terms declines are deeper and recoveries slower. Monthly price index (Eurostat), held at the last published value.
Rebalix · AFLMX vs USFRNsection 2 of 4
RebalixAFLMX vs USFRN · report of 10 September 2026
420 common holdings · ticker match on full official portfolios
How the shared part is computed: for each security held by both funds, only the SMALLER of the two weights counts — a stock at 5% in one fund and 1% in the other overlaps by 1%, not 5%. Summed over all 420 common holdings this gives 100.1%: buying both funds, roughly this share of your money buys the same stocks twice. Matching uses the ISIN of each security, as published by both issuers in their baskets.
Rebalix · AFLMX vs USFRNsection 3 of 4
RebalixAFLMX vs USFRN · report of 10 September 2026
Full comparison table
"—" = not published by the source, never estimated
Indicative cumulative cost: on 10,000 euro over 5 years (stated assumption: 5%/yr growth, cost = TER + transaction) ~178 euro AFLMX · ~187 euro USFRN. Broker costs not included.
Disclaimer
This document is for information only and does not constitute investment advice under Directive 2014/65/EU (MiFID II), investment research, a personal recommendation, or an offer or solicitation to buy or sell financial instruments.
Past performance is not indicative of, nor a guarantee of, future results. The value of an investment can go down as well as up and investors may not get back the capital invested. Euro returns are affected by currency fluctuations.
Before any investment decision, read the KID and the Prospectus, available from the issuers. Tax treatment depends on individual circumstances and may change.
Data come from official issuer documents and public registers, following the public methodology at rebalix.com/en/methodology. "—" fields were not published by the source and have not been estimated. Rebalix receives no compensation from the issuers mentioned.