CGB.DE vs. UEFS.DE
CGB.DE (Xtrackers II Harvest China Government Bond UCITS ETF (Dist)) and UEFS.DE (UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist) are both Emerging Markets Bonds funds - CGB.DE tracks the FTSE Chinese Government and Policy Bank Bond 1-10 Years Capped Index while UEFS.DE tracks the Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped. Both are passively managed. Over the past 10 years, CGB.DE returned 2.48%/yr vs 3.22%/yr for UEFS.DE. At a 0.38 correlation, their price movements are largely independent. CGB.DE charges 0.20%/yr vs 0.25%/yr for UEFS.DE.
Performance
CGB.DE vs. UEFS.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CGB.DE achieves a 8.00% return, which is significantly higher than UEFS.DE's 5.99% return. Over the past 10 years, CGB.DE has underperformed UEFS.DE with an annualized return of 2.48%, while UEFS.DE has yielded a comparatively higher 3.22% annualized return.
CGB.DE
- 1D
- 0.40%
- 1M
- 1.32%
- 6M
- 7.77%
- YTD
- 8.00%
- 1Y
- 11.41%
- 3Y*
- 3.87%
- 5Y*
- 3.23%
- 10Y*
- 2.48%
UEFS.DE
- 1D
- 0.12%
- 1M
- 2.05%
- 6M
- 5.48%
- YTD
- 5.99%
- 1Y
- 14.42%
- 3Y*
- 9.07%
- 5Y*
- 3.20%
- 10Y*
- 3.22%
CGB.DE vs. UEFS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CGB.DE Xtrackers II Harvest China Government Bond UCITS ETF (Dist) | 8.00% | -6.58% | 9.93% | -2.82% | -0.10% | 15.85% | -0.38% | 4.86% | 4.94% | -7.90% |
UEFS.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist | 5.99% | 2.26% | 13.85% | 8.27% | -14.71% | 5.65% | -4.63% | 17.08% | 0.30% | -3.07% |
Correlation
The correlation between CGB.DE and UEFS.DE is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2016 | 0.38 |
The correlation between CGB.DE and UEFS.DE shifts across timeframes, from 0.36 (10 years) to 0.47 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CGB.DE vs. UEFS.DE — Risk / Return Rank
CGB.DE
UEFS.DE
CGB.DE vs. UEFS.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II Harvest China Government Bond UCITS ETF (Dist) (CGB.DE) and UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.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.
| CGB.DE | UEFS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.45 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.02 | 4.91 | -0.89 |
| Martin ratioReturn relative to average drawdown | 11.91 | 15.11 | -3.20 |
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Drawdowns
CGB.DE vs. UEFS.DE - Drawdown Comparison
The maximum CGB.DE drawdown since its inception was -20.06%, smaller than the maximum UEFS.DE drawdown of -24.33%. Use the drawdown chart below to compare losses from any high point for CGB.DE and UEFS.DE.
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Drawdown Indicators
| CGB.DE | UEFS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.06% | -24.33% | +4.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -2.92% | +0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -11.08% | -13.71% | +2.63% |
Max Drawdown (5Y)Largest decline over 5 years | -13.94% | -17.81% | +3.87% |
Max Drawdown (10Y)Largest decline over 10 years | -14.64% | -24.33% | +9.69% |
Current DrawdownCurrent decline from peak | -0.94% | -0.70% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -9.28% | -9.00% | -0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.95% | +0.01% |
Volatility
CGB.DE vs. UEFS.DE - Volatility Comparison
Xtrackers II Harvest China Government Bond UCITS ETF (Dist) (CGB.DE) has a higher volatility of 1.70% compared to UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.DE) at 1.52%. This indicates that CGB.DE's price experiences larger fluctuations and is considered to be riskier than UEFS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CGB.DE | UEFS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.70% | 1.52% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 4.01% | 4.09% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.81% | 6.23% | -0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.74% | 8.74% | -2.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.06% | 12.92% | -1.86% |
CGB.DE vs. UEFS.DE - Expense Ratio Comparison
CGB.DE has a 0.20% expense ratio, which is lower than UEFS.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CGB.DE vs. UEFS.DE - Dividend Comparison
CGB.DE's dividend yield for the trailing twelve months is around 2.00%, less than UEFS.DE's 6.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CGB.DE Xtrackers II Harvest China Government Bond UCITS ETF (Dist) | 2.00% | 2.40% | 2.37% | 2.97% | 4.40% | 2.17% | 2.15% | 2.56% | 0.72% | 2.64% | 0.38% |
UEFS.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist | 6.37% | 7.97% | 6.14% | 6.46% | 6.08% | 4.22% | 5.09% | 4.60% | 4.53% | 4.90% | 2.30% |
Frequently Asked Questions
CGB.DE and UEFS.DE have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CGB.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CGB.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for UEFS.DE.
CGB.DE tracks FTSE Chinese Government and Policy Bank Bond 1-10 Years Capped Index, while UEFS.DE tracks Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped. They also come from different issuers: Xtrackers and UBS. Their fees differ too: 0.20% for CGB.DE and 0.25% for UEFS.DE.
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