CBUG.L vs. DRGG.L
CBUG.L (iShares $ Treasury Bond 3-7yr UCITS ETF GBP Hedged (Dist)) and DRGG.L (L&G China CNY Bond UCITS ETF USD (Dist)) are both Government Bonds funds - CBUG.L tracks the ICE U.S. Treasury 3-7 Year Bond Index while DRGG.L tracks the J.P. Morgan China Custom Liquid ESG Capped Index. Both are passively managed. Over the past 5 years, CBUG.L returned 0.23%/yr vs 2.65%/yr for DRGG.L. At a correlation of -0.15, they often move in opposite directions. CBUG.L charges 0.10%/yr vs 0.30%/yr for DRGG.L.
Performance
CBUG.L vs. DRGG.L - Performance Comparison
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Different Trading Currencies
CBUG.L is traded in GBP, while DRGG.L is traded in GBp. To make them comparable, the DRGG.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, CBUG.L achieves a -0.32% return, which is significantly lower than DRGG.L's 3.22% 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*
- —
DRGG.L
- 1D
- -0.64%
- 1M
- -0.78%
- 6M
- 2.97%
- YTD
- 3.22%
- 1Y
- 6.08%
- 3Y*
- 3.64%
- 5Y*
- 2.65%
- 10Y*
- —
CBUG.L vs. DRGG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CBUG.L iShares $ Treasury Bond 3-7yr UCITS ETF GBP Hedged (Dist) | -0.32% | 7.43% | 2.25% | 4.06% | -9.97% | -2.45% | 0.19% |
DRGG.L L&G China CNY Bond UCITS ETF USD (Dist) | 3.22% | -1.73% | 4.79% | -5.00% | 5.94% | 8.52% | -25.93% |
Correlation
The correlation between CBUG.L and DRGG.L is -0.23, 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 | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.16 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020 | -0.15 |
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Return for Risk
CBUG.L vs. DRGG.L — Risk / Return Rank
CBUG.L
DRGG.L
CBUG.L vs. DRGG.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 L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.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 | DRGG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.19 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.27 | 1.78 | -0.51 |
| Martin ratioReturn relative to average drawdown | 3.38 | 5.39 | -2.01 |
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Drawdowns
CBUG.L vs. DRGG.L - Drawdown Comparison
The maximum CBUG.L drawdown since its inception was -14.47%, smaller than the maximum DRGG.L drawdown of -27.90%. Use the drawdown chart below to compare losses from any high point for CBUG.L and DRGG.L.
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Drawdown Indicators
| CBUG.L | DRGG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.47% | -27.90% | +13.43% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -3.40% | +0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -4.28% | -9.04% | +4.76% |
Max Drawdown (5Y)Largest decline over 5 years | -13.78% | -15.77% | +1.99% |
Current DrawdownCurrent decline from peak | -1.52% | -14.39% | +12.87% |
Average DrawdownAverage peak-to-trough decline | -4.80% | -18.79% | +13.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 1.13% | -0.16% |
Volatility
CBUG.L vs. DRGG.L - Volatility Comparison
The current volatility for iShares $ Treasury Bond 3-7yr UCITS ETF GBP Hedged (Dist) (CBUG.L) is 1.00%, while L&G China CNY Bond UCITS ETF USD (Dist) (DRGG.L) has a volatility of 1.44%. This indicates that CBUG.L experiences smaller price fluctuations and is considered to be less risky than DRGG.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 | DRGG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 1.44% | -0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 4.47% | -1.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 5.85% | -1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.31% | 7.33% | -2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.70% | 12.96% | -8.26% |
CBUG.L vs. DRGG.L - Expense Ratio Comparison
CBUG.L has a 0.10% expense ratio, which is lower than DRGG.L's 0.30% expense ratio.
Dividends
CBUG.L vs. DRGG.L - Dividend Comparison
CBUG.L's dividend yield for the trailing twelve months is around 4.13%, more than DRGG.L's 0.87% 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% |
DRGG.L L&G China CNY Bond UCITS ETF USD (Dist) | 0.87% | 2.04% | 2.27% | 2.48% | 2.61% | 1.40% | 0.00% | 0.00% |
Frequently Asked Questions
CBUG.L and DRGG.L have a correlation of -0.23, 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 0.30% for DRGG.L.
CBUG.L tracks ICE U.S. Treasury 3-7 Year Bond Index, while DRGG.L tracks J.P. Morgan China Custom Liquid ESG Capped Index. They also come from different issuers: iShares and L&G. Their fees differ too: 0.10% for CBUG.L and 0.30% for DRGG.L.
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