CNYB.L vs. JMBP.L
CNYB.L (iShares China CNY Bond UCITS ETF USD (Dist)) and JMBP.L (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist)) are both Emerging Markets Bonds funds - CNYB.L tracks the Bloomberg China Treasury + Policy Bank Index while JMBP.L tracks the JP Morgan Emerging Markets Risk-Aware Bond (GBP Hedged). Both are passively managed. Over the past 5 years, CNYB.L returned 3.58%/yr vs 0.52%/yr for JMBP.L. At a correlation of -0.17, they often move in opposite directions. CNYB.L charges 0.35%/yr vs 0.39%/yr for JMBP.L.
Performance
CNYB.L vs. JMBP.L - Performance Comparison
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Returns By Period
In the year-to-date period, CNYB.L achieves a 5.09% return, which is significantly higher than JMBP.L's 1.43% return.
CNYB.L
- 1D
- 0.24%
- 1M
- -0.35%
- 6M
- 4.32%
- YTD
- 5.09%
- 1Y
- 7.12%
- 3Y*
- 4.85%
- 5Y*
- 3.58%
- 10Y*
- —
JMBP.L
- 1D
- -0.10%
- 1M
- -0.65%
- 6M
- 1.55%
- YTD
- 1.43%
- 1Y
- 8.99%
- 3Y*
- 6.95%
- 5Y*
- 0.52%
- 10Y*
- —
CNYB.L vs. JMBP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CNYB.L iShares China CNY Bond UCITS ETF USD (Dist) | 5.09% | -2.20% | 6.65% | -4.09% | 6.21% | 9.69% | -19.80% | 1.54% |
JMBP.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) | 1.43% | 13.12% | 1.60% | 8.38% | -17.58% | -2.86% | 3.67% | 3.36% |
Correlation
The correlation between CNYB.L and JMBP.L is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.24 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2019 | -0.17 |
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Return for Risk
CNYB.L vs. JMBP.L — Risk / Return Rank
CNYB.L
JMBP.L
CNYB.L vs. JMBP.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 JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) (JMBP.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 | JMBP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.34 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 2.06 | +0.51 |
| Martin ratioReturn relative to average drawdown | 6.11 | 8.78 | -2.67 |
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Drawdowns
CNYB.L vs. JMBP.L - Drawdown Comparison
The maximum CNYB.L drawdown since its inception was -25.82%, smaller than the maximum JMBP.L drawdown of -27.19%. Use the drawdown chart below to compare losses from any high point for CNYB.L and JMBP.L.
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Drawdown Indicators
| CNYB.L | JMBP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.82% | -27.19% | +1.37% |
Max Drawdown (1Y)Largest decline over 1 year | -2.75% | -4.53% | +1.78% |
Max Drawdown (3Y)Largest decline over 3 years | -9.03% | -7.61% | -1.42% |
Max Drawdown (5Y)Largest decline over 5 years | -15.44% | -26.88% | +11.44% |
Current DrawdownCurrent decline from peak | -7.24% | -0.79% | -6.45% |
Average DrawdownAverage peak-to-trough decline | -12.52% | -9.75% | -2.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 1.07% | +0.09% |
Volatility
CNYB.L vs. JMBP.L - Volatility Comparison
iShares China CNY Bond UCITS ETF USD (Dist) (CNYB.L) has a higher volatility of 1.24% compared to JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) (JMBP.L) at 1.09%. This indicates that CNYB.L's price experiences larger fluctuations and is considered to be riskier than JMBP.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 | JMBP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 1.09% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 4.69% | 4.61% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.29% | 5.47% | +0.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.65% | 8.49% | -0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.47% | 10.44% | +1.03% |
CNYB.L vs. JMBP.L - Expense Ratio Comparison
CNYB.L has a 0.35% expense ratio, which is lower than JMBP.L's 0.39% expense ratio.
Dividends
CNYB.L vs. JMBP.L - Dividend Comparison
CNYB.L's dividend yield for the trailing twelve months is around 1.72%, less than JMBP.L's 5.84% yield.
| 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% |
JMBP.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) | 5.84% | 5.61% | 5.83% | 5.24% | 5.16% | 3.70% | 4.42% | 0.00% |
Frequently Asked Questions
CNYB.L and JMBP.L have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNYB.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNYB.L is cheaper with a 0.35% expense ratio, compared with 0.39% for JMBP.L.
CNYB.L tracks Bloomberg China Treasury + Policy Bank Index, while JMBP.L tracks JP Morgan Emerging Markets Risk-Aware Bond (GBP Hedged). They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.35% for CNYB.L and 0.39% for JMBP.L.
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