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18 Top-Performing EUR Corporate Bond Funds

Funds from Schroders, Amundi, and Swiss Life are among the best performers.

A collage illustration depicting the European Central Bank building surrounded by inflating bubbles, each containing sections of a euro banknote.

European corporate bonds are attracting record inflows this year, with investors interested in this asset class to diversify their allocation or find an additional source of income.

To screen for the top-performing funds in this category, we looked for those with the best returns over the last one-, three-, and five-year periods. All names that passed the screen were actively managed.

EUR Corporate Bond Funds Performance

Over the last 12 months, the EUR corporate bond Morningstar Category returned 3.76%. On an annualized rate, EUR corporate bond funds have returned 4.66% over the last three years and gained 0.20% over the last five years. That compares with the Morningstar Eurozone Core Bond Index, which has returned 1.18% over the last 12 months, gained 2.04% a year over the last three years, and lost 2.15% a year over the last five years.

What Are EUR Corporate Bond Funds?

EUR corporate bond portfolios invest principally in investment grade corporate issued bonds denominated in or hedged into euros.

Screening for the Top-Performing EUR Corporate Bond Funds

To find the best EUR corporate bond funds, we looked at returns data from the past one, three, and five years, using data available in Morningstar Direct. We screened for Europe-domiciled open-ended and exchange-traded funds in the top 25% of the category using their lowest-cost primary share classes for those periods. We excluded funds with assets under €100 million. This left 18 investments.

Because the screen was created with the lowest-cost share class for each fund, some may be listed with share classes that are not accessible to individual investors, or they may be aimed at institutional investors and require large minimum investments. The individual investor versions of those funds may carry higher fees, reducing returns to shareholders. In addition, Medalist Ratings may differ among the share classes of a fund.

Morgan Stanley Investment Funds - Euro Corporate Bond Fund

Over the past year, the €5.6 billion Morgan Stanley Investment Funds - Euro Corporate Bond Fund rose 4.65%, while the average fund in its category rose 3.76%. The Morgan Stanley fund, which launched in September 2015, has climbed 5.85% over the past three years and gained 1.04% over the past five years.

“Morgan Stanley Investment Funds Euro Corporate Bond benefits from the experience of its management team, a disciplined investment process, and the depth and quality of the available groupwide resources.”

- Evangelia Gkeka, senior analyst

AXA World Funds - Euro Credit Plus

The €1.2 billion fund has climbed 4.96% over the past year, outperforming the average fund in its category, which rose 3.76%. The AXA IM fund, which launched in September 2005, has climbed 6.14% over the past three years and gained 0.90% over the past five years.

Amundi Crédit Euro

Over the past year, the €224.9 million Amundi Crédit Euro rose 6.25%, while the average fund in its category rose 3.76%. The Amundi fund, which launched in June 2008, has climbed 5.65% over the past three years and gained 1.12% over the past five years.

BlueBay Funds - BlueBay Investment Grade Bond Fund

Over the past year, the €2.8 billion BlueBay Funds - BlueBay Investment Grade Bond Fund rose 4.33%, while the average fund in its category rose 3.76%. The BlueBay fund, which launched in February 2006, has climbed 5.36% over the past three years and gained 0.80% over the past five years.

“BlueBay Investment Grade Bond benefits from the successful execution of its consistent investment approach. Key strengths include the continuity of the experienced portfolio managers in successfully working together with the skillful credit analyst team, resulting in top-quartile results in six out of the last eight calendar years, and the depth of support sources, including top-down macro specialists and other portfolio managers within the overall team.”

- Evangelia Gkeka, senior analyst

R-co Conviction Credit Euro

The €4.2 billion fund has climbed 5.86% over the past year, outperforming the average fund in its category, which rose 3.76%. The Rothschild & Co fund, which launched in October 2010, has climbed 6.51% over the past three years and gained 2.02% over the past five years.

Schroder International Selection Fund EURO Corporate Bond

The €16.2 billion fund has climbed 5.23% over the past year, outperforming the average fund in its category, which rose 3.76%. The Schroders fund, which launched in January 2020, has climbed 6.54% over the past three years and gained 1.17% over the past five years.

“Schroder ISF Euro Corporate Bond boasts a differentiated thematic approach to credit analysis and a long-tenured lead.”

- Giovanni Cafaro, analyst

Schroder International Selection Fund EURO Credit Conviction

The €3.5 billion fund has climbed 5.80% over the past year, outperforming the average fund in its category, which rose 3.76%. The Schroders fund, which launched in May 2014, has climbed 7.24% over the past three years and gained 1.58% over the past five years.

BNP Paribas Funds Euro Corporate Bond

Over the past year, the €1.6 billion fund has gained 4.85%, while the average fund in its category is up 3.76%. The BNP Paribas fund, which launched in September 2001, has climbed 5.83% over the past three years and gained 1.05% over the past five years.

CPR Invest - Climate Bonds Euro

Over the past year, the €520.1 million CPR Invest - Climate Bonds Euro rose 4.51%, while the average fund in its category rose 3.76%. The CPR Asset Management fund, which launched in December 2018, has climbed 5.40% over the past three years and gained 0.87% over the past five years.

DWS Invest - Corporate Green Bonds

The €398.5 million fund has climbed 4.85% over the past year, outperforming the average fund in its category, which rose 3.76%. The DWS fund, which launched in October 2018, has climbed 5.86% over the past three years and gained 0.86% over the past five years.

MFS Meridian Funds - Euro Credit Fund

Over the past year, the €844.8 million MFS Meridian Funds - Euro Credit Fund rose 4.75%, while the average fund in its category rose 3.76%. The MFS fund, which launched in February 2019, has climbed 6.76% over the past three years and gained 1.27% over the past five years.

“Experienced management, a deep credit analyst bench, and a proven investment process make this offering a standout in its category.”

- Shannon Kirwin, principal

Amundi Responsible Investing - European Credit SRI

Over the past year, the €572.3 million fund has gained 5.86%, while the average fund in its category is up 3.76%. The Amundi fund, which launched in November 2019, has climbed 5.24% over the past three years and gained 0.89% over the past five years.

Schroder International Selection Fund Sustainable EURO Credit

Over the past year, the €2.3 billion fund has gained 4.84%, while the average fund in its category is up 3.76%. The Schroders fund, which launched in March 2020, has climbed 5.82% over the past three years and gained 1.81% over the past five years.

“The following report text was written on Aug. 25, 2023, but the pillar and resulting ratings were affirmed again on Oct. 25, 2024.” “Schroder ISF Sustainable Euro Credit features Schroders’ trademark thematic approach to credit analysis combined with a thoughtful integration of sustainable-investing considerations. This makes it a distinctive option for investors seeking a sustainable option, albeit in a competitive peer group with numerous low-cost options.”

- Giovanni Cafaro, analyst

Groupama Euro Credit

Over the past year, the €782.6 million Groupama Euro Credit rose 4.86%, while the average fund in its category rose 3.76%. The Groupama fund, which launched in February 2009, has climbed 5.43% over the past three years and gained 0.67% over the past five years.

Swiss Life Funds (F) Green Bonds Impact

The €91.1 million fund has climbed 4.68% over the past year, outperforming the average fund in its category, which rose 3.76%. The Swiss Life fund, which launched in July 2018, has climbed 5.56% over the past three years and gained 2.62% over the past five years.

Green Bonds Investments

Over the past year, the €85.9 million Green Bonds Investments rose 5.55%, while the average fund in its category rose 3.76%. The Swiss Life fund, which launched in October 1987, has climbed 6.63% over the past three years and gained 1.44% over the past five years.

Sycomore Sélection Crédit

Over the past year, the €836 million fund has gained 4.63%, while the average fund in its category is up 3.76%. The Sycomore Asset Management fund, which launched in November 2015, has climbed 6.08% over the past three years and gained 1.91% over the past five years.

BlackRock ESG Fixed Income Credit Strategies Fund

Over the past year, the €419 million BlackRock ESG Fixed Income Credit Strategies Fund rose 6.06%, while the average fund in its category rose 3.76%. The BlackRock fund, which launched in June 2019, has climbed 6.30% over the past three years and gained 2.68% over the past five years.

The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar's editorial policies.

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