CEB0.DE vs. GASF.DE
CEB0.DE (iShares China CNY Bond UCITS ETF EUR Hedged Dist) and GASF.DE (Goldman Sachs Access China Government Bond UCITS ETF USD Inc) are both Emerging Markets Bonds funds - CEB0.DE tracks the Bloomberg Barclays China Treasury + Policy Bank Index while GASF.DE tracks the FTSE Goldman Sachs China Government Bond Index. Both are passively managed. Over the past year, CEB0.DE returned 1.57% vs 8.64% for GASF.DE. At a 0.21 correlation, their price movements are largely independent. CEB0.DE charges 0.40%/yr vs 0.24%/yr for GASF.DE.
Performance
CEB0.DE vs. GASF.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CEB0.DE achieves a 2.14% return, which is significantly lower than GASF.DE's 7.80% return.
CEB0.DE
- 1D
- 0.00%
- 1M
- 0.37%
- 6M
- 1.99%
- YTD
- 2.14%
- 1Y
- 1.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GASF.DE
- 1D
- 0.00%
- 1M
- 1.11%
- 6M
- 5.78%
- YTD
- 7.80%
- 1Y
- 8.64%
- 3Y*
- 5.05%
- 5Y*
- 3.49%
- 10Y*
- —
CEB0.DE vs. GASF.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CEB0.DE iShares China CNY Bond UCITS ETF EUR Hedged Dist | 2.14% | 0.43% | 6.85% |
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc | 7.80% | -6.82% | 8.13% |
Correlation
The correlation between CEB0.DE and GASF.DE is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2024 | 0.21 |
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Return for Risk
CEB0.DE vs. GASF.DE — Risk / Return Rank
CEB0.DE
GASF.DE
CEB0.DE vs. GASF.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares China CNY Bond UCITS ETF EUR Hedged Dist (CEB0.DE) and Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.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.
| CEB0.DE | GASF.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.30 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 2.53 | -0.88 |
| Martin ratioReturn relative to average drawdown | 3.67 | 7.67 | -4.00 |
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Drawdowns
CEB0.DE vs. GASF.DE - Drawdown Comparison
The maximum CEB0.DE drawdown since its inception was -1.83%, smaller than the maximum GASF.DE drawdown of -13.75%. Use the drawdown chart below to compare losses from any high point for CEB0.DE and GASF.DE.
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Drawdown Indicators
| CEB0.DE | GASF.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.83% | -13.75% | +11.92% |
Max Drawdown (1Y)Largest decline over 1 year | -0.95% | -3.40% | +2.45% |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.00% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.75% | — |
Current DrawdownCurrent decline from peak | -0.03% | -1.66% | +1.63% |
Average DrawdownAverage peak-to-trough decline | -0.37% | -6.05% | +5.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 1.12% | -0.72% |
Volatility
CEB0.DE vs. GASF.DE - Volatility Comparison
The current volatility for iShares China CNY Bond UCITS ETF EUR Hedged Dist (CEB0.DE) is 0.43%, while Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.DE) has a volatility of 1.25%. This indicates that CEB0.DE experiences smaller price fluctuations and is considered to be less risky than GASF.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEB0.DE | GASF.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.43% | 1.25% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 1.46% | 3.44% | -1.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.75% | 5.31% | -3.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.01% | 6.68% | -4.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.01% | 7.71% | -5.70% |
CEB0.DE vs. GASF.DE - Expense Ratio Comparison
CEB0.DE has a 0.40% expense ratio, which is higher than GASF.DE's 0.24% expense ratio.
Dividends
CEB0.DE vs. GASF.DE - Dividend Comparison
CEB0.DE's dividend yield for the trailing twelve months is around 1.71%, less than GASF.DE's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CEB0.DE iShares China CNY Bond UCITS ETF EUR Hedged Dist | 1.71% | 1.84% | 1.43% | 0.00% | 0.00% | 0.00% | 0.00% |
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc | 1.99% | 2.36% | 2.35% | 2.63% | 2.73% | 2.40% | 1.99% |
Frequently Asked Questions
CEB0.DE and GASF.DE have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GASF.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GASF.DE is cheaper with a 0.24% expense ratio, compared with 0.40% for CEB0.DE.
CEB0.DE tracks Bloomberg Barclays China Treasury + Policy Bank Index, while GASF.DE tracks FTSE Goldman Sachs China Government Bond Index. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.40% for CEB0.DE and 0.24% for GASF.DE.
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