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Amundi Core USD Corporate Bond UCITS ETF AccIndex, costs, backtest, listings and taxation

ISIN: LU2089239276Ticker: PRAP (Xetra) · PRAP (Euronext Paris) · PRAP (SIX)Issuer: AmundiClass: UCITS ETF Acc
Issuer-declared data
Declared index
Bloomberg US Corporate Liquid Issuer Unhedged USD
TER
0.07%
Transaction costs
0.07% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Replication
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
100 mln EUR
NAV
21.39 USD (31 August 2026)
Domicile
Luxembourg
Inception date
15 January 2020
Data as declared by Amundi in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

Amundi Core USD Corporate Bond UCITS ETF Acc tracks the issuer-declared index: Bloomberg US Corporate Liquid Issuer Unhedged USD. The declared annual cost (TER) is 0.07%, plus 0.07% in transaction costs estimated by the issuer in the KID. Replication is direct physical replication; income is accumulated and reinvested in the fund. The fund has assets of about 100 million euro, was launched on 15 January 2020 and is domiciled in Luxembourg. In our registry it is the largest by assets among the 2 ETFs declaring the same index.

The fund’s objective — in the issuer’s words

This Sub-Fund is passively managed. The objective of this Sub-Fund is to track the performance of Bloomberg US Corporate Liquid Issuer Index (the “Index”), and to minimize the tracking error between the net asset value of the Sub-Fund and the performance of the Index. The anticipated level of the tracking error, under normal market conditions, is indicated in the prospectus of the Sub-Fund. The Index is a Total Return Index : the coupons paid by the Index constituents are included in the index return. Bloomberg US Corporate Liquid Issuer Index is a bond index that measures the more liquid subset of the Bloomberg US Corporate Index, which tracks the investment grade, fixed-rate, taxable corporate bond market and includes USD-denominated securities publicly issued by US and non-US industrial, utility, and financial issuers (the Parent Index). More information about the composition of the index and its operating rules are available in the prospectus and at: bloomberg.com The Index value is available via Bloomberg (I38697US). The exposure to the Index will be achieved through a Direct Replication, mainly by making direct investments in transferable securities and/or other eligible assets representing the Index constituents in a proportion extremely close to their proportion in the index. The Sub-Fund intends to implement a sampled replication model in order to track the performance of the Index and it is therefore not expected that the SubFund will hold each and every underlying component of the Index at all times or hold them in the same proportion as their weightings in the Index. The SubFund may also hold some securities which are not underlying components of the Index. The Investment Manager will be able to use derivatives in order to deal with inflows and outflows and also if it allows a better exposition to an Index constituent. In order to generate additional income to offset its costs, the Sub-Fund may also enter into securities lending operations.

Keep reading the KID section ▾

Intended Retail Investor:This product is intended for investors, with a basic knowledge of and no or limited experience of investing in funds seeking to increase the value of their investment over the recommended holding period with the ability to bear losses up to the amount invested.

Redemption and Dealing:The Sub-Fund's shares are listed and traded on one or more stock exchanges. In normal circumstances, you may deal in shares during the trading hours of the stock exchanges. Only authorised participants (e.g., selected financial institutions) may deal in shares directly with the SubFund on the primary market. Further details are provided in the Amundi Index Solutions prospectus.

Distribution policy:As this is a non-distributing share class, investment income is reinvested. the accumulation share automatically retains, and re-invests, all attributable income within the Sub-Fund; thereby accumulating value in the price of the accumulation shares.

More Information:You may get further information about the Sub-Fund, including the prospectus, and financial reports which are available at and free of charge on request from: Amundi Luxembourg S.A. at 5, allée Scheffer 2520 Luxembourg, Luxembourg.

From the KID’s “Objectives” section · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.07%: below the median of bond ETFs we track (0.15%).
  • Average tracking difference over the last 3 years: -0.15% p.a., against a declared TER of 0.07%.
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · USD · from Jan 2020 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+6.6%
Annualised
+1.0%
Volatility (ann.)
6.9%
Max drawdown
-22.06%
-17%-10%-2%+6%+13%Jan 2020Sept 2021May 2023Jan 2025Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+7%Jan 2020Sept 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-5%-10%-15%-20%-25%-30%2020202120222023202420252026−22.06% · 21 Oct 2022
Max drawdown
-22.06%
peak → trough
Trough
21 Oct 2022
from the 22 Sept 2021 peak
Recovery time
1,210 days
recovery only: trough to break-even · ≈ 3 years and 4 months
Underwater
1,604 days
decline + recovery: peak to break-even · ≈ 4 years and 5 months · → recovered on 12 Feb 2026

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
22 Sept 202121 Oct 2022-22.06%12 Feb 20261,604
06 Mar 202020 Mar 2020-15.46%02 Jul 2020118
31 Dec 202018 Mar 2021-5.37%28 Jul 2021209
27 Feb 202627 Mar 2026-3.35%ongoing193
06 Aug 202005 Oct 2020-2.27%20 Nov 2020106

Calendar-year returns

2020
8.9%
2021
-1.1%
2022
-15.8%
2023
8.4%
2024
1.6%
2025
8.3%
2026
-1.5%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.11.5-2.40.50.90.1-2.20.4-0.3-1.5
20250.62.3-0.4-0.1-0.02.10.11.01.80.30.7-0.48.3
2024-0.2-1.41.2-2.51.90.62.41.72.0-3.01.5-2.51.6
20233.9-3.12.70.8-1.40.30.4-0.8-2.6-1.96.04.38.4
2022-3.3-2.2-2.5-5.40.9-2.83.1-2.8-5.2-1.25.3-0.4-15.8
2021-1.3-1.7-1.71.10.81.51.3-0.2-1.00.20.1-0.1-1.1
20201.3-6.95.31.61.93.2-1.3-0.3-0.22.80.48.9
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Source: Amundi. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — fund vs index

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 3 of the last 5 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.15% /anno
Declared TER
0.07%
YearFundIndexDifference
2025+8.28%+8.25%+0.02%
2024+1.58%+1.95%-0.37%
2023+8.42%+8.54%-0.11%
2022-15.75%-15.91%+0.16%
2021-1.09%-1.21%+0.12%
Total-return figures from issuer-declared series (primary source); complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 yearsFull history
Volatility (ann.)7.00%8.41%9.74%9.51%
Max drawdown-5.37%-11.61%-13.10%-13.17%
Sharpe-0.27-0.08-0.20-0.12
Sortino-0.38-0.11-0.28-0.16
Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.21%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Duration and maturities

Duration · modified duration
7.65years

Price sensitivity to rates: the longer, the more the fund moves. What is duration →

Maturity breakdown (% of fund)
Short term
3.36%
2 years
8.45%
5 years
22.46%
7 years
18.54%
10 years
13.59%
15 years
6.56%
20 years
13.95%
30 years
13.08%

Source: factsheet Amundi, data as of 31 July 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Credit rating

How the portfolio is spread by credit quality: from AAA (strongest) downwards. More weight in the top buckets = lower risk that an issuer fails to pay, usually with lower yields.

Rating breakdown (% of fund)
AAA
0.88%
AA
11.47%
A
43.73%
BBB
40.93%
Not rated
0.05%
Other
2.93%

Source: factsheet Amundi, data as of 31 July 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Ratings are those the issuer assigns to portfolio holdings under its own methodology (usually the median of S&P, Moody’s and Fitch); scale and buckets are those of the original document.

Portfolio holdings

Securities in portfolio
2,895
Top-10 weight
1.5%

Top 10 holdings

ANHEUSER BUSCH 4.9% 01/02/2046 · ZS2126580
0.17%
SPACE EXPLORA 5.65% Jul33 · DM2827697
0.15%
SPACE EXPLORA 5.875% Jul36 · DM2827838
0.15%
CVS HEALTH CO 5.05% Mar48 · AR6336036
0.15%
SPACE EXPLORA 5.35% Jul31 · DM2827390
0.15%
META PLATFORM 6.3% May56 · DK0023681
0.15%
T-MOBILE USA 3.875% Apr30 · BP2643941
0.15%
WACHOVIA BANK 6.6% Jan38 · EH1002276
0.14%
WELLS FARGO C VAR Apr31 · YP6519712
0.14%
AMAZON.COM IN 4.25% Mar31 · DG5179461
0.13%

Sectors

Financials
32.9%
Health Care
13.3%
Communications
11.9%
Technology
9.6%
Energy
8.0%
Consumer Discretionary
6.6%
Consumer Staples
5.6%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustralia: 0.9%AustriaAzerbaijanBurundiBelgium: 0.7%BeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanada: 2.4%Switzerland: 0.2%ChileChina: 0.2%Ivory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermany: 0.4%DjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpain: 0.7%EstoniaEthiopiaFinlandFijiFalkland IslandsFrance: 0.4%GabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIreland: 0.4%IranIraqIcelandIsraelItalyJamaicaJordanJapan: 1.9%KazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlands: 0.4%NorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 87.3%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
United States87.3%
United Kingdom4.1%
Canada2.4%
Japan1.9%
Australia0.9%
Spain0.7%
Belgium0.7%
⬇ Download the full portfolio — Excel, 2,896 rows
Full portfolio declared by Amundi, as of 1 September 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

ETFs declaring the same index

FundTERIncomeFund size
ETFUSC · Amundi · 3 classes
0.07%Acc. · Dist.63 mln EUR
2 ETFs in our census declare this index (including this fund). Funds declaring the exact same index, word for word, in official product lists. Differently-worded variants (or other index versions) are not shown: a short list beats a wrong match. Sorted by TER. A dash “—” = not declared by the issuer in the files we read — not a zero.

Italian taxation

Effective rate on capital gains
26.00%
White-list share
0.00%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

Stock exchange listings

ExchangeTickerTrading since
Börse DüsseldorfPRAP10 Feb 2020
Börse FrankfurtPRAP28 Jan 2020
Börse HamburgPRAP19 Feb 2020
Börse HannoverPRAP9 Dec 2024
Börse München / gettexPRAP12 Mar 2020
Börse StuttgartPRAP12 Feb 2021
Tradegate ExchangePRAP28 Feb 2020
Xetra (Deutsche Börse)PRAP28 Jan 2020
+ 9 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does Amundi Core USD Corporate Bond UCITS ETF Acc track?
The issuer Amundi declares the benchmark: Bloomberg US Corporate Liquid Issuer Unhedged USD.
How much does PRAP cost?
The issuer-declared TER is 0.07% per year; the transaction costs estimated in the KID are 0.07%.
How is PRAP taxed in Italy?
On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.00%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of PRAP?
The fund size declared by Amundi is about 100 million euro.
When was PRAP launched?
The fund was launched on 15 January 2020: it has 6 years of history.
How does PRAP replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Direct(Physical)”).
Does PRAP pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Capitalisation”).
Where does PRAP trade?
Per the official ESMA register it trades on 8 main exchanges, including Börse Düsseldorf (PRAP), Börse Frankfurt (PRAP), Börse Hamburg (PRAP), Börse Hannover (PRAP), Börse München / gettex (PRAP), Börse Stuttgart (PRAP).
What was PRAP's worst fall?
Over the available history (since 2020), the maximum drawdown was -22.06%, reached in October 2022. Past performance is not indicative of future results.
What is PRAP's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.15% per year versus its index (from issuer-declared series).
How many securities does PRAP hold?
The declared portfolio holds 2,895 securities; the top 10 positions weigh 1.5%.
Transparency note
The data in this sheet is declared by Amundi in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.