CNYB.L vs. ISAC.L
CNYB.L (iShares China CNY Bond UCITS ETF USD (Dist)) and ISAC.L (iShares MSCI ACWI UCITS ETF USD (Acc)) are both exchange-traded funds - CNYB.L is a Emerging Markets Bonds fund tracking the Bloomberg China Treasury + Policy Bank Index, while ISAC.L is a Global Equities fund tracking the MSCI All Country World Index (Net). Both are passively managed. Over the past 5 years, CNYB.L returned 3.58%/yr vs 11.51%/yr for ISAC.L. At a correlation of -0.02, they often move in opposite directions. CNYB.L charges 0.35%/yr vs 0.20%/yr for ISAC.L.
Performance
CNYB.L vs. ISAC.L - Performance Comparison
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Different Trading Currencies
CNYB.L is traded in GBP, while ISAC.L is traded in USD. To make them comparable, the ISAC.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, CNYB.L achieves a 5.08% return, which is significantly lower than ISAC.L's 10.73% return.
CNYB.L
- 1D
- 0.23%
- 1M
- -0.13%
- 6M
- 4.82%
- YTD
- 5.08%
- 1Y
- 7.11%
- 3Y*
- 4.85%
- 5Y*
- 3.58%
- 10Y*
- —
ISAC.L
- 1D
- -0.92%
- 1M
- -1.47%
- 6M
- 9.00%
- YTD
- 10.73%
- 1Y
- 22.42%
- 3Y*
- 17.72%
- 5Y*
- 11.51%
- 10Y*
- 12.14%
CNYB.L vs. ISAC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CNYB.L iShares China CNY Bond UCITS ETF USD (Dist) | 5.08% | -2.20% | 6.65% | -4.09% | 6.21% | 9.69% | -19.80% | 0.53% |
ISAC.L iShares MSCI ACWI UCITS ETF USD (Acc) | 10.73% | 13.64% | 19.87% | 16.44% | -8.43% | 19.97% | 12.26% | 0.94% |
Correlation
The correlation between CNYB.L and ISAC.L 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 (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | -0.02 |
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Return for Risk
CNYB.L vs. ISAC.L — Risk / Return Rank
CNYB.L
ISAC.L
CNYB.L vs. ISAC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares China CNY Bond UCITS ETF USD (Dist) (CNYB.L) and iShares MSCI ACWI UCITS ETF USD (Acc) (ISAC.L). 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.
| CNYB.L | ISAC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.33 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 3.25 | -0.67 |
| Martin ratioReturn relative to average drawdown | 6.13 | 11.85 | -5.72 |
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Drawdowns
CNYB.L vs. ISAC.L - Drawdown Comparison
The maximum CNYB.L drawdown since its inception was -25.82%, roughly equal to the maximum ISAC.L drawdown of -25.84%. Use the drawdown chart below to compare losses from any high point for CNYB.L and ISAC.L.
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Drawdown Indicators
| CNYB.L | ISAC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.82% | -25.84% | +0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -2.75% | -6.88% | +4.13% |
Max Drawdown (3Y)Largest decline over 3 years | -9.03% | -18.33% | +9.30% |
Max Drawdown (5Y)Largest decline over 5 years | -15.44% | -18.33% | +2.89% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.84% | — |
Current DrawdownCurrent decline from peak | -7.25% | -2.45% | -4.80% |
Average DrawdownAverage peak-to-trough decline | -12.53% | -3.51% | -9.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 1.89% | -0.73% |
Volatility
CNYB.L vs. ISAC.L - Volatility Comparison
The current volatility for iShares China CNY Bond UCITS ETF USD (Dist) (CNYB.L) is 1.68%, while iShares MSCI ACWI UCITS ETF USD (Acc) (ISAC.L) has a volatility of 3.31%. This indicates that CNYB.L experiences smaller price fluctuations and is considered to be less risky than ISAC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNYB.L | ISAC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.68% | 3.31% | -1.63% |
Volatility (6M)Calculated over the trailing 6-month period | 4.69% | 10.05% | -5.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.29% | 12.43% | -6.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.66% | 14.39% | -6.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.48% | 15.40% | -3.92% |
CNYB.L vs. ISAC.L - Expense Ratio Comparison
CNYB.L has a 0.35% expense ratio, which is higher than ISAC.L's 0.20% expense ratio.
Dividends
CNYB.L vs. ISAC.L - Dividend Comparison
CNYB.L's dividend yield for the trailing twelve months is around 1.72%, while ISAC.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CNYB.L iShares China CNY Bond UCITS ETF USD (Dist) | 1.72% | 1.89% | 2.24% | 2.55% | 2.72% | 2.74% | 2.65% | 0.72% |
ISAC.L iShares MSCI ACWI UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CNYB.L and ISAC.L 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, ISAC.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISAC.L is cheaper with a 0.20% expense ratio, compared with 0.35% for CNYB.L.
CNYB.L is categorized as Emerging Markets Bonds, while ISAC.L is Global Equities. CNYB.L tracks Bloomberg China Treasury + Policy Bank Index, while ISAC.L tracks MSCI All Country World Index (Net). Their fees differ too: 0.35% for CNYB.L and 0.20% for ISAC.L.
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