CEB0.DE vs. SPFA.DE
CEB0.DE (iShares China CNY Bond UCITS ETF EUR Hedged Dist) and SPFA.DE (SPDR Bloomberg Emerging Markets Local Bond UCITS ETF) are both Emerging Markets Bonds funds - CEB0.DE tracks the Bloomberg Barclays China Treasury + Policy Bank Index while SPFA.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond. Both are passively managed. Over the past year, CEB0.DE returned 1.59% vs 3.30% for SPFA.DE. At a 0.09 correlation, their price movements are largely independent. CEB0.DE charges 0.40%/yr vs 0.55%/yr for SPFA.DE.
Performance
CEB0.DE vs. SPFA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CEB0.DE achieves a 1.63% return, which is significantly higher than SPFA.DE's 0.46% return.
CEB0.DE
- 1D
- -0.13%
- 1M
- 0.30%
- YTD
- 1.63%
- 6M
- 1.79%
- 1Y
- 1.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPFA.DE
- 1D
- -0.01%
- 1M
- 0.39%
- YTD
- 0.46%
- 6M
- 0.45%
- 1Y
- 3.30%
- 3Y*
- 2.58%
- 5Y*
- 1.46%
- 10Y*
- —
CEB0.DE vs. SPFA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CEB0.DE iShares China CNY Bond UCITS ETF EUR Hedged Dist | 1.63% | 0.43% | 6.89% |
SPFA.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 0.46% | 2.44% | 3.53% |
Correlation
The correlation between CEB0.DE and SPFA.DE is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2024 | 0.09 |
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Return for Risk
CEB0.DE vs. SPFA.DE — Risk / Return Rank
CEB0.DE
SPFA.DE
CEB0.DE vs. SPFA.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 SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SPFA.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.
| CEB0.DE | SPFA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.11 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 0.83 | +0.60 |
| Martin ratioReturn relative to average drawdown | 3.02 | 2.62 | +0.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CEB0.DE | SPFA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 0.62 | +0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.23 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.03 | 0.26 | +1.77 |
Drawdowns
CEB0.DE vs. SPFA.DE - Drawdown Comparison
The maximum CEB0.DE drawdown since its inception was -1.83%, smaller than the maximum SPFA.DE drawdown of -16.39%. Use the drawdown chart below to compare losses from any high point for CEB0.DE and SPFA.DE.
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Drawdown Indicators
| CEB0.DE | SPFA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.83% | -16.39% | +14.56% |
Max Drawdown (1Y)Largest decline over 1 year | -1.11% | -3.96% | +2.85% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.66% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.51% | — |
Current DrawdownCurrent decline from peak | -0.34% | -3.19% | +2.85% |
Average DrawdownAverage peak-to-trough decline | -0.38% | -7.62% | +7.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 1.26% | -0.74% |
Volatility
CEB0.DE vs. SPFA.DE - Volatility Comparison
The current volatility for iShares China CNY Bond UCITS ETF EUR Hedged Dist (CEB0.DE) is 1.02%, while SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SPFA.DE) has a volatility of 1.83%. This indicates that CEB0.DE experiences smaller price fluctuations and is considered to be less risky than SPFA.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 | SPFA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 1.83% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 1.45% | 4.51% | -3.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.68% | 5.31% | -3.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.03% | 6.24% | -4.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.03% | 7.05% | -5.02% |
CEB0.DE vs. SPFA.DE - Expense Ratio Comparison
CEB0.DE has a 0.40% expense ratio, which is lower than SPFA.DE's 0.55% expense ratio.
Dividends
CEB0.DE vs. SPFA.DE - Dividend Comparison
CEB0.DE's dividend yield for the trailing twelve months is around 1.81%, while SPFA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CEB0.DE iShares China CNY Bond UCITS ETF EUR Hedged Dist | 1.81% | 1.84% | 1.43% |
SPFA.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CEB0.DE and SPFA.DE have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEB0.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEB0.DE is cheaper with a 0.40% expense ratio, compared with 0.55% for SPFA.DE.
CEB0.DE tracks Bloomberg Barclays China Treasury + Policy Bank Index, while SPFA.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond. They also come from different issuers: iShares and State Street. Their fees differ too: 0.40% for CEB0.DE and 0.55% for SPFA.DE.
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