CBND.L vs. IDBT.L
CBND.L (Goldman Sachs Access China Government Bond UCITS ETF USD (Dist)) and IDBT.L (iShares $ Treasury Bond 1-3yr UCITS ETF USD (Dist)) are both exchange-traded funds - CBND.L is a Government Bonds fund tracking the FTSE Goldman Sachs China Government Bond Index, while IDBT.L is a Short-Term Bond fund tracking the ICE U.S. Treasury 1-3 Year Bond Index. Both are passively managed. Over the past 5 years, CBND.L returned 2.83%/yr vs 1.93%/yr for IDBT.L. At a 0.17 correlation, their price movements are largely independent. CBND.L charges 0.24%/yr vs 0.07%/yr for IDBT.L.
Performance
CBND.L vs. IDBT.L - Performance Comparison
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Returns By Period
In the year-to-date period, CBND.L achieves a 4.76% return, which is significantly higher than IDBT.L's 0.80% return.
CBND.L
- 1D
- 0.00%
- 1M
- -0.16%
- 6M
- 4.42%
- YTD
- 4.76%
- 1Y
- 7.27%
- 3Y*
- 5.71%
- 5Y*
- 2.83%
- 10Y*
- —
IDBT.L
- 1D
- 0.02%
- 1M
- 0.18%
- 6M
- 0.91%
- YTD
- 0.80%
- 1Y
- 3.28%
- 3Y*
- 4.28%
- 5Y*
- 1.93%
- 10Y*
- 1.76%
CBND.L vs. IDBT.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CBND.L Goldman Sachs Access China Government Bond UCITS ETF USD (Dist) | 4.76% | 5.04% | 4.67% | 1.28% | -5.17% | 7.61% | 8.70% | 3.08% |
IDBT.L iShares $ Treasury Bond 1-3yr UCITS ETF USD (Dist) | 0.80% | 5.28% | 4.03% | 4.16% | -3.71% | -0.64% | 3.13% | 0.33% |
Correlation
The correlation between CBND.L and IDBT.L is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2019 | 0.17 |
The correlation between CBND.L and IDBT.L shifts across timeframes, from 0.17 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CBND.L vs. IDBT.L — Risk / Return Rank
CBND.L
IDBT.L
CBND.L vs. IDBT.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access China Government Bond UCITS ETF USD (Dist) (CBND.L) and iShares $ Treasury Bond 1-3yr UCITS ETF USD (Dist) (IDBT.L). 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.
| CBND.L | IDBT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.55 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 7.28 | 4.53 | +2.74 |
| Martin ratioReturn relative to average drawdown | 18.01 | 17.53 | +0.48 |
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Drawdowns
CBND.L vs. IDBT.L - Drawdown Comparison
The maximum CBND.L drawdown since its inception was -11.48%, which is greater than IDBT.L's maximum drawdown of -5.66%. Use the drawdown chart below to compare losses from any high point for CBND.L and IDBT.L.
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Drawdown Indicators
| CBND.L | IDBT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.48% | -5.66% | -5.82% |
Max Drawdown (1Y)Largest decline over 1 year | -0.99% | -0.72% | -0.27% |
Max Drawdown (3Y)Largest decline over 3 years | -3.66% | -0.97% | -2.69% |
Max Drawdown (5Y)Largest decline over 5 years | -11.48% | -5.66% | -5.82% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.66% | — |
Current DrawdownCurrent decline from peak | -0.31% | 0.00% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -2.80% | -0.56% | -2.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.19% | +0.21% |
Volatility
CBND.L vs. IDBT.L - Volatility Comparison
Goldman Sachs Access China Government Bond UCITS ETF USD (Dist) (CBND.L) has a higher volatility of 0.90% compared to iShares $ Treasury Bond 1-3yr UCITS ETF USD (Dist) (IDBT.L) at 0.36%. This indicates that CBND.L's price experiences larger fluctuations and is considered to be riskier than IDBT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBND.L | IDBT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 0.36% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 2.58% | 0.92% | +1.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.11% | 1.20% | +1.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.01% | 1.99% | +3.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.94% | 1.77% | +3.17% |
CBND.L vs. IDBT.L - Expense Ratio Comparison
CBND.L has a 0.24% expense ratio, which is higher than IDBT.L's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CBND.L vs. IDBT.L - Dividend Comparison
CBND.L's dividend yield for the trailing twelve months is around 2.04%, less than IDBT.L's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBND.L Goldman Sachs Access China Government Bond UCITS ETF USD (Dist) | 2.04% | 2.20% | 2.45% | 2.54% | 2.72% | 2.52% | 1.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IDBT.L iShares $ Treasury Bond 1-3yr UCITS ETF USD (Dist) | 3.99% | 4.15% | 4.25% | 2.97% | 0.74% | 0.63% | 1.71% | 2.31% | 1.57% | 0.96% | 0.74% | 0.51% |
Frequently Asked Questions
CBND.L and IDBT.L have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IDBT.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IDBT.L is cheaper with a 0.07% expense ratio, compared with 0.24% for CBND.L.
CBND.L is categorized as Government Bonds, while IDBT.L is Short-Term Bond. CBND.L tracks FTSE Goldman Sachs China Government Bond Index, while IDBT.L tracks ICE U.S. Treasury 1-3 Year Bond Index. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.24% for CBND.L and 0.07% for IDBT.L.
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