CEW vs. CBON
CEW (WisdomTree Emerging Currency Strategy Fund) and CBON (VanEck Vectors ChinaAMC China Bond ETF) are both exchange-traded funds - CEW is a Currency fund actively managed by WisdomTree, while CBON is a Emerging Markets Bonds fund tracking the ChinaBond China High Quality Bond Index. CEW is actively managed, while CBON is passively managed. Over the past 10 years, CEW returned 2.54%/yr vs 2.93%/yr for CBON. At a 0.33 correlation, their price movements are largely independent. CEW charges 0.55%/yr vs 0.50%/yr for CBON.
Performance
CEW vs. CBON - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CEW achieves a 2.70% return, which is significantly lower than CBON's 5.41% return. Over the past 10 years, CEW has underperformed CBON with an annualized return of 2.54%, while CBON has yielded a comparatively higher 2.93% annualized return.
CEW
- 1D
- -0.25%
- 1M
- 0.38%
- YTD
- 2.70%
- 6M
- 3.84%
- 1Y
- 8.61%
- 3Y*
- 6.87%
- 5Y*
- 3.05%
- 10Y*
- 2.54%
CBON
- 1D
- 0.10%
- 1M
- 1.75%
- YTD
- 5.41%
- 6M
- 6.88%
- 1Y
- 9.26%
- 3Y*
- 5.05%
- 5Y*
- 2.03%
- 10Y*
- 2.93%
CEW vs. CBON - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEW WisdomTree Emerging Currency Strategy Fund | 2.70% | 14.48% | -0.99% | 9.06% | -1.65% | -6.62% | -0.04% | 4.78% | -5.09% | 11.09% |
CBON VanEck Vectors ChinaAMC China Bond ETF | 5.41% | 5.46% | 1.85% | 2.92% | -7.99% | 5.93% | 12.01% | 2.67% | 1.88% | 6.96% |
Correlation
The correlation between CEW and CBON is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2014 | 0.33 |
The correlation between CEW and CBON shifts across timeframes, from 0.33 (all time) to 0.46 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CEW vs. CBON — Risk / Return Rank
CEW
CBON
CEW vs. CBON - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Currency Strategy Fund (CEW) and VanEck Vectors ChinaAMC China Bond ETF (CBON). 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.
| CEW | CBON | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -2.06 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.54 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 6.94 | -4.70 |
| Martin ratioReturn relative to average drawdown | 7.57 | 25.86 | -18.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| CEW | CBON | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.39 | 2.70 | -1.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.41 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.53 | -0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.42 | -0.29 |
Drawdowns
CEW vs. CBON - Drawdown Comparison
The maximum CEW drawdown since its inception was -27.89%, which is greater than CBON's maximum drawdown of -14.13%. Use the drawdown chart below to compare losses from any high point for CEW and CBON.
Loading charts...
Drawdown Indicators
| CEW | CBON | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.89% | -14.13% | -13.76% |
Max Drawdown (1Y)Largest decline over 1 year | -3.85% | -1.34% | -2.51% |
Max Drawdown (3Y)Largest decline over 3 years | -5.28% | -4.56% | -0.72% |
Max Drawdown (5Y)Largest decline over 5 years | -15.02% | -14.13% | -0.89% |
Max Drawdown (10Y)Largest decline over 10 years | -17.72% | -14.13% | -3.59% |
Current DrawdownCurrent decline from peak | -0.93% | -0.02% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -13.01% | -3.99% | -9.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 0.36% | +0.78% |
Volatility
CEW vs. CBON - Volatility Comparison
WisdomTree Emerging Currency Strategy Fund (CEW) has a higher volatility of 1.65% compared to VanEck Vectors ChinaAMC China Bond ETF (CBON) at 0.91%. This indicates that CEW's price experiences larger fluctuations and is considered to be riskier than CBON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CEW | CBON | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.65% | 0.91% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 5.04% | 2.62% | +2.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.23% | 3.45% | +2.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.85% | 4.93% | +1.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.03% | 5.58% | +1.45% |
CEW vs. CBON - Expense Ratio Comparison
CEW has a 0.55% expense ratio, which is higher than CBON's 0.50% expense ratio.
Dividends
CEW vs. CBON - Dividend Comparison
CEW's dividend yield for the trailing twelve months is around 2.41%, more than CBON's 1.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBON VanEck Vectors ChinaAMC China Bond ETF | 1.52% | 1.66% | 2.15% | 3.01% | 2.70% | 3.05% | 2.87% | 3.87% | 3.39% | 3.33% | 3.25% | 2.78% |
CEW WisdomTree Emerging Currency Strategy Fund | 2.41% | 2.47% | 5.42% | 2.00% | 0.80% | 0.00% | 0.64% | 1.90% | 1.87% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CEW and CBON have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEW has higher volatility (1.65%) compared to CBON (0.91%). In terms of maximum drawdown, CEW dropped -27.89% vs CBON's -14.13%.
On 10-year performance, CBON leads with 2.93% vs 2.54% for CEW. On fees, CBON is cheaper at 0.50% per year. On volatility, CBON has been the lower-risk option at 0.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CBON has performed better with a 2.93% return vs 2.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CBON is cheaper with a 0.50% expense ratio, compared with 0.55% for CEW.
CEW has the higher dividend yield at 2.41%, compared with 1.52% for CBON.
CEW is categorized as Currency, while CBON is Emerging Markets Bonds. They also come from different issuers: WisdomTree and VanEck. Their fees differ too: 0.55% for CEW and 0.50% for CBON.
CBON currently has the higher Sharpe Ratio (2.70 vs 1.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for CEW and CBON
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer