CBON vs. PICB
Compare and contrast key facts about VanEck Vectors ChinaAMC China Bond ETF (CBON) and Invesco International Corporate Bond ETF (PICB).
CBON and PICB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CBON is a passively managed fund by VanEck that tracks the performance of the ChinaBond China High Quality Bond Index. It was launched on Nov 10, 2014. PICB is a passively managed fund by Invesco that tracks the performance of the S&P International Corporate Bond Index. It was launched on Jun 3, 2010. Both CBON and PICB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CBON or PICB.
Key characteristics
| CBON | PICB | |
|---|---|---|
| YTD Return | -0.50% | -4.43% |
| 1Y Return | 0.55% | 2.39% |
| 3Y Return (Ann) | -0.26% | -7.66% |
| 5Y Return (Ann) | 2.20% | -1.82% |
| Sharpe Ratio | 0.06 | 0.24 |
| Daily Std Dev | 4.19% | 9.37% |
| Max Drawdown | -14.13% | -37.24% |
| Current Drawdown | -7.51% | -23.34% |
Correlation
The correlation between CBON and PICB is 0.27, 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.
Performance
CBON vs. PICB - Performance Comparison
In the year-to-date period, CBON achieves a -0.50% return, which is significantly higher than PICB's -4.43% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CBON vs. PICB - Expense Ratio Comparison
Both CBON and PICB have an expense ratio of 0.50%.
Risk-Adjusted Performance
CBON vs. PICB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors ChinaAMC China Bond ETF (CBON) and Invesco International Corporate Bond ETF (PICB). 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.
Dividends
CBON vs. PICB - Dividend Comparison
CBON's dividend yield for the trailing twelve months is around 3.14%, more than PICB's 2.66% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBON VanEck Vectors ChinaAMC China Bond ETF | 3.14% | 3.01% | 2.70% | 3.05% | 2.87% | 3.87% | 3.39% | 3.33% | 3.25% | 2.78% | 0.28% | 0.00% |
PICB Invesco International Corporate Bond ETF | 2.66% | 2.25% | 1.39% | 1.34% | 1.22% | 1.42% | 1.70% | 1.47% | 2.20% | 2.39% | 2.64% | 2.73% |
Drawdowns
CBON vs. PICB - Drawdown Comparison
The maximum CBON drawdown since its inception was -14.13%, smaller than the maximum PICB drawdown of -37.24%. Use the drawdown chart below to compare losses from any high point for CBON and PICB. For additional features, visit the drawdowns tool.
Volatility
CBON vs. PICB - Volatility Comparison
The current volatility for VanEck Vectors ChinaAMC China Bond ETF (CBON) is 1.02%, while Invesco International Corporate Bond ETF (PICB) has a volatility of 2.26%. This indicates that CBON experiences smaller price fluctuations and is considered to be less risky than PICB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.