CBUG.L vs. CNYB.L
CBUG.L (iShares $ Treasury Bond 3-7yr UCITS ETF GBP Hedged (Dist)) and CNYB.L (iShares China CNY Bond UCITS ETF USD (Dist)) are both exchange-traded funds - CBUG.L is a Government Bonds fund tracking the ICE U.S. Treasury 3-7 Year Bond Index, while CNYB.L is a Emerging Markets Bonds fund tracking the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, CBUG.L returned 0.23%/yr vs 3.58%/yr for CNYB.L. At a correlation of -0.10, they often move in opposite directions. CBUG.L charges 0.10%/yr vs 0.35%/yr for CNYB.L.
Performance
CBUG.L vs. CNYB.L - Performance Comparison
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Returns By Period
In the year-to-date period, CBUG.L achieves a -0.32% return, which is significantly lower than CNYB.L's 5.08% return.
CBUG.L
- 1D
- -0.01%
- 1M
- -0.01%
- 6M
- -0.32%
- YTD
- -0.32%
- 1Y
- 3.51%
- 3Y*
- 4.04%
- 5Y*
- 0.23%
- 10Y*
- —
CNYB.L
- 1D
- 0.23%
- 1M
- -0.13%
- 6M
- 4.82%
- YTD
- 5.08%
- 1Y
- 7.11%
- 3Y*
- 4.85%
- 5Y*
- 3.58%
- 10Y*
- —
CBUG.L vs. CNYB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CBUG.L iShares $ Treasury Bond 3-7yr UCITS ETF GBP Hedged (Dist) | -0.32% | 7.43% | 2.25% | 4.06% | -9.97% | -2.45% | 6.70% | 0.75% |
CNYB.L iShares China CNY Bond UCITS ETF USD (Dist) | 5.08% | -2.20% | 6.65% | -4.09% | 6.21% | 9.69% | -19.80% | 0.53% |
Correlation
The correlation between CBUG.L and CNYB.L is -0.20, 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 | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | -0.10 |
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Return for Risk
CBUG.L vs. CNYB.L — Risk / Return Rank
CBUG.L
CNYB.L
CBUG.L vs. CNYB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Treasury Bond 3-7yr UCITS ETF GBP Hedged (Dist) (CBUG.L) and iShares China CNY Bond UCITS ETF USD (Dist) (CNYB.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.
| CBUG.L | CNYB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.21 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.27 | 2.57 | -1.31 |
| Martin ratioReturn relative to average drawdown | 3.38 | 6.13 | -2.74 |
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Drawdowns
CBUG.L vs. CNYB.L - Drawdown Comparison
The maximum CBUG.L drawdown since its inception was -14.47%, smaller than the maximum CNYB.L drawdown of -25.82%. Use the drawdown chart below to compare losses from any high point for CBUG.L and CNYB.L.
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Drawdown Indicators
| CBUG.L | CNYB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.47% | -25.82% | +11.35% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -2.75% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -4.28% | -9.03% | +4.75% |
Max Drawdown (5Y)Largest decline over 5 years | -13.78% | -15.44% | +1.66% |
Current DrawdownCurrent decline from peak | -1.52% | -7.25% | +5.73% |
Average DrawdownAverage peak-to-trough decline | -4.80% | -12.53% | +7.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 1.16% | -0.19% |
Volatility
CBUG.L vs. CNYB.L - Volatility Comparison
The current volatility for iShares $ Treasury Bond 3-7yr UCITS ETF GBP Hedged (Dist) (CBUG.L) is 1.00%, while iShares China CNY Bond UCITS ETF USD (Dist) (CNYB.L) has a volatility of 1.68%. This indicates that CBUG.L experiences smaller price fluctuations and is considered to be less risky than CNYB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBUG.L | CNYB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 1.68% | -0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 4.69% | -2.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 6.29% | -1.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.31% | 7.66% | -2.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.70% | 11.48% | -6.78% |
CBUG.L vs. CNYB.L - Expense Ratio Comparison
CBUG.L has a 0.10% expense ratio, which is lower than CNYB.L's 0.35% expense ratio.
Dividends
CBUG.L vs. CNYB.L - Dividend Comparison
CBUG.L's dividend yield for the trailing twelve months is around 4.13%, more than CNYB.L's 1.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CBUG.L iShares $ Treasury Bond 3-7yr UCITS ETF GBP Hedged (Dist) | 4.13% | 4.17% | 4.21% | 3.04% | 1.69% | 1.15% | 2.07% | 1.15% |
CNYB.L iShares China CNY Bond UCITS ETF USD (Dist) | 1.72% | 1.89% | 2.24% | 2.55% | 2.72% | 2.74% | 2.65% | 0.72% |
Frequently Asked Questions
CBUG.L and CNYB.L have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBUG.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBUG.L is cheaper with a 0.10% expense ratio, compared with 0.35% for CNYB.L.
CBUG.L is categorized as Government Bonds, while CNYB.L is Emerging Markets Bonds. CBUG.L tracks ICE U.S. Treasury 3-7 Year Bond Index, while CNYB.L tracks Bloomberg China Treasury + Policy Bank Index. Their fees differ too: 0.10% for CBUG.L and 0.35% for CNYB.L.
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