Amundi Euro Corporate Bond vs Xtrackers II EUR Corporate Bond

They track different indices: Amundi Euro Corporate Bond follows Markit iBoxx Euro Corporate and Xtrackers II EUR Corporate Bond follows Bloomberg EUR Aggregate Corporate. They also differ in cost (0.16% vs 0.16% TER), replication (physical vs physical) and domicile (Luxemburgo vs Luxemburgo).

Nobody can know that: they track different indices, so their returns will diverge, and past index performance is not a prediction. What you can control today is the cost, the tax structure and whether the index actually covers what you want exposure to.

Their fees are effectively identical (0.16% vs 0.16%), so cost should not decide this one. Look at index coverage, distribution policy and availability at your broker instead.

Amundi Euro Corporate Bond is accumulating (dividends are reinvested inside the fund) and Xtrackers II EUR Corporate Bond is distributing (dividends are paid out to you). For long-term compounding in Spain, accumulating usually defers taxation; distributing gives you income you are taxed on each year.

Yes. Unlike two funds tracking the identical index, these give you genuinely different exposure, so holding both is not automatically redundant — just be aware you may end up overlapping on the largest companies and doubling your rebalancing work.