3199.HK vs. EMCB

Last updated Apr 2, 2026

Compare and contrast key facts about ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF (3199.HK) and WisdomTree Emerging Markets Corporate Bond Fund (EMCB).

3199.HK and EMCB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 3199.HK is a passively managed fund by CSOP that tracks the performance of the FTSE Chinese Government and Policy Bank Bond. It was launched on Feb 24, 2022. EMCB is an actively managed fund by WisdomTree. It was launched on Mar 8, 2012.

Performance

3199.HK vs. EMCB - Performance Comparison

The chart below illustrates the hypothetical performance of a HK$10,000 investment in ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF (3199.HK) and WisdomTree Emerging Markets Corporate Bond Fund (EMCB). The values are adjusted to include any dividend payments, if applicable.

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	3.48%	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	0.52%	8.40%	6.55%	8.74%	-12.83%	-0.08%	8.11%	12.83%	-2.86%	10.31%

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 3.48% return, which is significantly higher than EMCB's 0.55% return. Over the past 10 years, 3199.HK has underperformed EMCB with an annualized return of 2.52%, while EMCB has yielded a comparatively higher 4.36% annualized return.

3199.HK

• 1D: 0.89%
• 1M: 0.93%
• YTD: 3.48%
• 6M: 5.92%
• 1Y: 9.02%
• 3Y*: 3.84%
• 5Y*: 3.18%
• 10Y*: 2.52%

EMCB

• 1D: 0.00%
• 1M: -2.24%
• YTD: 0.55%
• 6M: 1.19%
• 1Y: 6.62%
• 3Y*: 7.28%
• 5Y*: 2.18%
• 10Y*: 4.36%

*Multi-year figures are annualized to reflect compound growth (CAGR)

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.

3199.HK

ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF

EMCB

WisdomTree Emerging Markets Corporate Bond Fund

Return for Risk

3199.HK vs. EMCB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

3199.HK

3199.HK Risk / Return Rank: 89
3199.HK Sharpe Ratio Rank: 87
3199.HK Sortino Ratio Rank: 91
3199.HK Omega Ratio Rank: 85
3199.HK Calmar Ratio Rank: 93
3199.HK Martin Ratio Rank: 88

EMCB

EMCB Risk / Return Rank: 51
EMCB Sharpe Ratio Rank: 40
EMCB Sortino Ratio Rank: 38
EMCB Omega Ratio Rank: 49
EMCB Calmar Ratio Rank: 61
EMCB Martin Ratio Rank: 64

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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 ratio Return per unit of total volatility	1.88	0.88	+0.99
Sortino ratio Return per unit of downside risk	2.78	1.32	+1.46
Omega ratio Gain probability vs. loss probability	1.36	1.22	+0.14
Calmar ratio Return relative to maximum drawdown	4.00	1.81	+2.18
Martin ratio Return relative to average drawdown	11.84	7.54	+4.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

3199.HK vs. EMCB - Sharpe Ratio Comparison

The current 3199.HK Sharpe Ratio is 1.88, which is higher than the EMCB Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of 3199.HK and EMCB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	3199.HK	EMCB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	0.88	+0.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.31	+0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.51	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.46	+0.07

Correlation

The correlation between 3199.HK and EMCB is 0.06, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

3199.HK vs. EMCB - Dividend Comparison

3199.HK's dividend yield for the trailing twelve months is around 3.30%, less than EMCB's 5.46% yield.

	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	3.30%	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	5.46%	5.47%	5.29%	5.09%	4.04%	3.43%	3.85%	4.17%	4.20%	4.04%	4.08%	5.09%

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.

Drawdown Indicators

	3199.HK	EMCB	Difference
Max Drawdown Largest peak-to-trough decline	-11.05%	-22.81%	+11.76%
Max Drawdown (1Y) Largest decline over 1 year	-1.67%	-3.43%	+1.76%
Max Drawdown (5Y) Largest decline over 5 years	-11.05%	-21.50%	+10.45%
Max Drawdown (10Y) Largest decline over 10 years	-11.05%	-22.81%	+11.76%
Current Drawdown Current decline from peak	-0.17%	-2.78%	+2.61%
Average Drawdown Average peak-to-trough decline	-3.30%	-4.27%	+0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	0.84%	-0.13%

Volatility

3199.HK vs. EMCB - Volatility Comparison

ICBC CSOP FTSE Chinese Government and Policy Bank Bond Index ETF (3199.HK) has a higher volatility of 1.69% compared to WisdomTree Emerging Markets Corporate Bond Fund (EMCB) at 1.16%. This indicates that 3199.HK's price experiences larger fluctuations and is considered to be riskier than EMCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	3199.HK	EMCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.69%	1.16%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	3.68%	2.60%	+1.08%
Volatility (1Y) Calculated over the trailing 1-year period	5.36%	7.52%	-2.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.72%	7.02%	-1.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.69%	8.49%	-2.80%