3199.HK vs. EMCB
3199.HK (ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF) and EMCB (WisdomTree Emerging Markets Corporate Bond Fund) are both Emerging Markets Bonds funds. 3199.HK is passively managed, while EMCB is actively managed. Over the past 10 years, 3199.HK returned 2.92%/yr vs 4.27%/yr for EMCB. At a 0.06 correlation, their price movements are largely independent. 3199.HK charges 0.62%/yr vs 0.60%/yr for EMCB.
Performance
3199.HK vs. EMCB - Performance Comparison
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Different Trading Currencies
3199.HK is traded in HKD, while EMCB is traded in USD. To make them comparable, the EMCB values have been converted to HKD using the latest available exchange rates.
Returns By Period
In the year-to-date period, 3199.HK achieves a 5.99% return, which is significantly higher than EMCB's 2.52% return. Over the past 10 years, 3199.HK has underperformed EMCB with an annualized return of 2.92%, while EMCB has yielded a comparatively higher 4.27% annualized return.
3199.HK
- 1D
- -0.17%
- 1M
- 1.09%
- YTD
- 5.99%
- 6M
- 6.77%
- 1Y
- 7.82%
- 3Y*
- 5.62%
- 5Y*
- 2.88%
- 10Y*
- 2.92%
EMCB
- 1D
- -0.21%
- 1M
- 0.21%
- YTD
- 2.52%
- 6M
- 2.46%
- 1Y
- 7.12%
- 3Y*
- 7.83%
- 5Y*
- 2.34%
- 10Y*
- 4.27%
3199.HK vs. EMCB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
3199.HK ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF | 5.99% | 5.50% | 3.24% | 2.30% | -6.26% | 7.36% | 10.59% | 0.61% | 0.60% | 6.18% |
EMCB WisdomTree Emerging Markets Corporate Bond Fund | 2.52% | 8.40% | 6.55% | 8.74% | -12.83% | -0.08% | 8.11% | 12.83% | -2.86% | 10.31% |
Correlation
The correlation between 3199.HK and EMCB is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2014 | 0.06 |
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Return for Risk
3199.HK vs. EMCB — Risk / Return Rank
3199.HK
EMCB
3199.HK vs. EMCB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF (3199.HK) and WisdomTree Emerging Markets Corporate Bond Fund (EMCB). 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.
| 3199.HK | EMCB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.33 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 5.39 | 2.46 | +2.94 |
| Martin ratioReturn relative to average drawdown | 13.10 | 8.61 | +4.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| 3199.HK | EMCB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.71 | 1.68 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | 0.34 | +0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.51 | +0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.47 | +0.09 |
Drawdowns
3199.HK vs. EMCB - Drawdown Comparison
The maximum 3199.HK drawdown since its inception was -11.05%, smaller than the maximum EMCB drawdown of -23.10%. Use the drawdown chart below to compare losses from any high point for 3199.HK and EMCB.
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Drawdown Indicators
| 3199.HK | EMCB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.05% | -23.10% | +12.05% |
Max Drawdown (1Y)Largest decline over 1 year | -1.60% | -2.91% | +1.31% |
Max Drawdown (3Y)Largest decline over 3 years | -3.84% | -4.43% | +0.59% |
Max Drawdown (5Y)Largest decline over 5 years | -11.05% | -20.77% | +9.72% |
Max Drawdown (10Y)Largest decline over 10 years | -11.05% | -23.10% | +12.05% |
Current DrawdownCurrent decline from peak | -0.41% | -0.67% | +0.26% |
Average DrawdownAverage peak-to-trough decline | -3.26% | -4.10% | +0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 0.83% | -0.20% |
Volatility
3199.HK vs. EMCB - Volatility Comparison
ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF (3199.HK) and WisdomTree Emerging Markets Corporate Bond Fund (EMCB) have volatilities of 1.54% and 1.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3199.HK | EMCB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 1.60% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.83% | 3.04% | +0.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.06% | 4.26% | +0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.74% | 6.95% | -1.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.71% | 8.47% | -2.76% |
3199.HK vs. EMCB - Expense Ratio Comparison
3199.HK has a 0.62% expense ratio, which is higher than EMCB's 0.60% expense ratio.
Dividends
3199.HK vs. EMCB - Dividend Comparison
3199.HK's dividend yield for the trailing twelve months is around 3.31%, less than EMCB's 5.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
3199.HK ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF | 3.31% | 3.34% | 3.43% | 3.51% | 3.65% | 3.40% | 3.29% | 3.57% | 3.62% | 3.39% | 3.56% | 3.69% |
EMCB WisdomTree Emerging Markets Corporate Bond Fund | 5.36% | 5.47% | 5.29% | 5.09% | 4.04% | 3.43% | 3.85% | 4.17% | 4.20% | 4.04% | 4.08% | 5.09% |
Frequently Asked Questions
3199.HK and EMCB have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMCB is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMCB is cheaper with a 0.60% expense ratio, compared with 0.62% for 3199.HK.
They also come from different issuers: CSOP and WisdomTree. Their fees differ too: 0.62% for 3199.HK and 0.60% for EMCB.
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