3SUD.DE vs. ICGB.DE
3SUD.DE (iShares J.P. Morgan USD EM Bond UCITS ETF Acc) and ICGB.DE (iShares China CNY Bond UCITS ETF USD (Dist)) are both Emerging Markets Bonds funds from iShares - 3SUD.DE tracks the JP Morgan EMBI Global Core (EUR Hedged) while ICGB.DE tracks the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, 3SUD.DE returned -0.52%/yr vs 3.70%/yr for ICGB.DE. At a correlation of -0.14, they often move in opposite directions. 3SUD.DE charges 0.50%/yr vs 0.35%/yr for ICGB.DE.
Performance
3SUD.DE vs. ICGB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 3SUD.DE achieves a 0.76% return, which is significantly lower than ICGB.DE's 8.29% return.
3SUD.DE
- 1D
- 0.00%
- 1M
- -0.75%
- 6M
- 0.76%
- YTD
- 0.76%
- 1Y
- 7.52%
- 3Y*
- 6.66%
- 5Y*
- -0.52%
- 10Y*
- —
ICGB.DE
- 1D
- -0.20%
- 1M
- 1.45%
- 6M
- 6.21%
- YTD
- 8.29%
- 1Y
- 9.76%
- 3Y*
- 5.26%
- 5Y*
- 3.70%
- 10Y*
- —
3SUD.DE vs. ICGB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
3SUD.DE iShares J.P. Morgan USD EM Bond UCITS ETF Acc | 0.76% | 11.46% | 3.74% | 7.58% | -20.68% | -3.62% | 3.56% | 1.33% |
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 8.29% | -7.16% | 11.36% | -2.27% | 1.10% | 17.31% | 0.08% | -10.15% |
Correlation
The correlation between 3SUD.DE and ICGB.DE is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.20 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | -0.14 |
The correlation between 3SUD.DE and ICGB.DE shifts across timeframes, from -0.23 (3 years) to -0.11 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
3SUD.DE vs. ICGB.DE — Risk / Return Rank
3SUD.DE
ICGB.DE
3SUD.DE vs. ICGB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD EM Bond UCITS ETF Acc (3SUD.DE) and iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| 3SUD.DE | ICGB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.34 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | 3.51 | -1.97 |
| Martin ratioReturn relative to average drawdown | 6.43 | 9.21 | -2.78 |
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Drawdowns
3SUD.DE vs. ICGB.DE - Drawdown Comparison
The maximum 3SUD.DE drawdown since its inception was -30.80%, which is greater than ICGB.DE's maximum drawdown of -13.36%. Use the drawdown chart below to compare losses from any high point for 3SUD.DE and ICGB.DE.
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Drawdown Indicators
| 3SUD.DE | ICGB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.80% | -13.36% | -17.44% |
Max Drawdown (1Y)Largest decline over 1 year | -4.88% | -2.77% | -2.11% |
Max Drawdown (3Y)Largest decline over 3 years | -7.73% | -11.17% | +3.44% |
Max Drawdown (5Y)Largest decline over 5 years | -30.55% | -13.36% | -17.19% |
Current DrawdownCurrent decline from peak | -4.17% | -1.42% | -2.75% |
Average DrawdownAverage peak-to-trough decline | -11.05% | -6.39% | -4.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 1.05% | +0.12% |
Volatility
3SUD.DE vs. ICGB.DE - Volatility Comparison
The current volatility for iShares J.P. Morgan USD EM Bond UCITS ETF Acc (3SUD.DE) is 1.24%, while iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) has a volatility of 1.33%. This indicates that 3SUD.DE experiences smaller price fluctuations and is considered to be less risky than ICGB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 3SUD.DE | ICGB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.33% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 5.68% | 3.61% | +2.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.39% | 5.37% | +1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.03% | 6.63% | +2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.56% | 7.89% | +2.67% |
3SUD.DE vs. ICGB.DE - Expense Ratio Comparison
3SUD.DE has a 0.50% expense ratio, which is higher than ICGB.DE's 0.35% expense ratio.
Dividends
3SUD.DE vs. ICGB.DE - Dividend Comparison
3SUD.DE has not paid dividends to shareholders, while ICGB.DE's dividend yield for the trailing twelve months is around 1.68%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
3SUD.DE iShares J.P. Morgan USD EM Bond UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 1.68% | 1.92% | 2.22% | 2.58% | 2.80% | 2.71% | 2.63% | 0.95% |
Frequently Asked Questions
3SUD.DE and ICGB.DE have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICGB.DE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICGB.DE is cheaper with a 0.35% expense ratio, compared with 0.50% for 3SUD.DE.
3SUD.DE tracks JP Morgan EMBI Global Core (EUR Hedged), while ICGB.DE tracks Bloomberg China Treasury + Policy Bank Index. Their fees differ too: 0.50% for 3SUD.DE and 0.35% for ICGB.DE.
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