CEB0.DE vs. SPFD.DE
CEB0.DE (iShares China CNY Bond UCITS ETF EUR Hedged Dist) and SPFD.DE (State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc)) are both Emerging Markets Bonds funds - CEB0.DE tracks the Bloomberg Barclays China Treasury + Policy Bank Index while SPFD.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond Index (EUR Hedged). Both are passively managed. Over the past year, CEB0.DE returned 1.59% vs 2.41% for SPFD.DE. At a 0.04 correlation, their price movements are largely independent. CEB0.DE charges 0.40%/yr vs 0.60%/yr for SPFD.DE.
Performance
CEB0.DE vs. SPFD.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 SPFD.DE's -1.76% return.
CEB0.DE
- 1D
- -0.13%
- 1M
- 0.30%
- YTD
- 1.63%
- 6M
- 1.79%
- 1Y
- 1.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPFD.DE
- 1D
- 0.08%
- 1M
- -0.48%
- YTD
- -1.76%
- 6M
- -1.05%
- 1Y
- 2.41%
- 3Y*
- 2.99%
- 5Y*
- -1.83%
- 10Y*
- —
CEB0.DE vs. SPFD.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% |
SPFD.DE State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) | -1.76% | 12.45% | -2.02% |
Correlation
The correlation between CEB0.DE and SPFD.DE is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2024 | 0.04 |
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Return for Risk
CEB0.DE vs. SPFD.DE — Risk / Return Rank
CEB0.DE
SPFD.DE
CEB0.DE vs. SPFD.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 State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) (SPFD.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 | SPFD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.07 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 0.36 | +1.07 |
| Martin ratioReturn relative to average drawdown | 3.02 | 1.09 | +1.93 |
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 | SPFD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 0.33 | +0.61 |
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 | -0.13 | +2.16 |
Drawdowns
CEB0.DE vs. SPFD.DE - Drawdown Comparison
The maximum CEB0.DE drawdown since its inception was -1.83%, smaller than the maximum SPFD.DE drawdown of -28.91%. Use the drawdown chart below to compare losses from any high point for CEB0.DE and SPFD.DE.
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Drawdown Indicators
| CEB0.DE | SPFD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.83% | -28.91% | +27.08% |
Max Drawdown (1Y)Largest decline over 1 year | -1.11% | -6.70% | +5.59% |
Max Drawdown (3Y)Largest decline over 3 years | — | -9.24% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.77% | — |
Current DrawdownCurrent decline from peak | -0.34% | -11.71% | +11.37% |
Average DrawdownAverage peak-to-trough decline | -0.38% | -13.46% | +13.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 2.22% | -1.70% |
Volatility
CEB0.DE vs. SPFD.DE - Volatility Comparison
The current volatility for iShares China CNY Bond UCITS ETF EUR Hedged Dist (CEB0.DE) is 1.02%, while State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) (SPFD.DE) has a volatility of 2.53%. This indicates that CEB0.DE experiences smaller price fluctuations and is considered to be less risky than SPFD.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 | SPFD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 2.53% | -1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 1.45% | 6.38% | -4.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.68% | 7.27% | -5.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.03% | 7.94% | -5.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.03% | 8.88% | -6.85% |
CEB0.DE vs. SPFD.DE - Expense Ratio Comparison
CEB0.DE has a 0.40% expense ratio, which is lower than SPFD.DE's 0.60% expense ratio.
Dividends
CEB0.DE vs. SPFD.DE - Dividend Comparison
CEB0.DE's dividend yield for the trailing twelve months is around 1.81%, while SPFD.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% |
SPFD.DE State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CEB0.DE and SPFD.DE have a correlation of 0.01, 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 0.60% for SPFD.DE.
CEB0.DE tracks Bloomberg Barclays China Treasury + Policy Bank Index, while SPFD.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond Index (EUR Hedged). They also come from different issuers: iShares and State Street. Their fees differ too: 0.40% for CEB0.DE and 0.60% for SPFD.DE.
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