CYBE.AS vs. XUSE.AS
CYBE.AS (iShares China CNY Bond UCITS ETF EUR Hedged Acc) and XUSE.AS (iShares MSCI World ex-USA UCITS ETF) are both exchange-traded funds - CYBE.AS is a Emerging Markets Bonds fund tracking the Bloomberg China Treasury + Policy Bank Index, while XUSE.AS is a Global Equities fund tracking the MSCI World ex USA Index. Both are passively managed. Over the past year, CYBE.AS returned 1.75% vs 20.21% for XUSE.AS. At a correlation of -0.02, they often move in opposite directions. CYBE.AS charges 0.40%/yr vs 0.25%/yr for XUSE.AS.
Performance
CYBE.AS vs. XUSE.AS - Performance Comparison
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Different Trading Currencies
CYBE.AS is traded in EUR, while XUSE.AS is traded in USD. To make them comparable, the XUSE.AS values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, CYBE.AS achieves a 1.79% return, which is significantly lower than XUSE.AS's 9.38% return.
CYBE.AS
- 1D
- 0.07%
- 1M
- 0.63%
- YTD
- 1.79%
- 6M
- 1.92%
- 1Y
- 1.75%
- 3Y*
- 5.12%
- 5Y*
- 3.85%
- 10Y*
- —
XUSE.AS
- 1D
- 0.00%
- 1M
- 3.14%
- YTD
- 9.38%
- 6M
- 11.34%
- 1Y
- 20.21%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CYBE.AS vs. XUSE.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CYBE.AS iShares China CNY Bond UCITS ETF EUR Hedged Acc | 1.79% | 0.01% |
XUSE.AS iShares MSCI World ex-USA UCITS ETF | 9.61% | 11.20% |
Correlation
The correlation between CYBE.AS and XUSE.AS is -0.02, 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 | -0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2025 | -0.02 |
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Return for Risk
CYBE.AS vs. XUSE.AS — Risk / Return Rank
CYBE.AS
XUSE.AS
CYBE.AS vs. XUSE.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares China CNY Bond UCITS ETF EUR Hedged Acc (CYBE.AS) and iShares MSCI World ex-USA UCITS ETF (XUSE.AS). 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.
| CYBE.AS | XUSE.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.28 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 2.33 | -0.74 |
| Martin ratioReturn relative to average drawdown | 3.03 | 8.97 | -5.93 |
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
| CYBE.AS | XUSE.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.69 | 1.49 | -0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.77 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.78 | 1.02 | +0.76 |
Drawdowns
CYBE.AS vs. XUSE.AS - Drawdown Comparison
The maximum CYBE.AS drawdown since its inception was -1.81%, smaller than the maximum XUSE.AS drawdown of -15.66%. Use the drawdown chart below to compare losses from any high point for CYBE.AS and XUSE.AS.
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Drawdown Indicators
| CYBE.AS | XUSE.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.81% | -15.66% | +13.85% |
Max Drawdown (1Y)Largest decline over 1 year | -1.09% | -8.57% | +7.48% |
Max Drawdown (3Y)Largest decline over 3 years | -1.81% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -1.81% | — | — |
Current DrawdownCurrent decline from peak | -0.62% | -1.21% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -0.42% | -2.17% | +1.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 2.24% | -1.66% |
Volatility
CYBE.AS vs. XUSE.AS - Volatility Comparison
The current volatility for iShares China CNY Bond UCITS ETF EUR Hedged Acc (CYBE.AS) is 1.41%, while iShares MSCI World ex-USA UCITS ETF (XUSE.AS) has a volatility of 3.90%. This indicates that CYBE.AS experiences smaller price fluctuations and is considered to be less risky than XUSE.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CYBE.AS | XUSE.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 3.90% | -2.49% |
Volatility (6M)Calculated over the trailing 6-month period | 2.16% | 11.22% | -9.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.51% | 13.38% | -10.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.22% | 15.27% | -13.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.20% | 15.27% | -13.07% |
CYBE.AS vs. XUSE.AS - Expense Ratio Comparison
CYBE.AS has a 0.40% expense ratio, which is higher than XUSE.AS's 0.25% expense ratio.
Dividends
CYBE.AS vs. XUSE.AS - Dividend Comparison
Neither CYBE.AS nor XUSE.AS has paid dividends to shareholders.
Frequently Asked Questions
CYBE.AS and XUSE.AS have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUSE.AS is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUSE.AS is cheaper with a 0.25% expense ratio, compared with 0.40% for CYBE.AS.
CYBE.AS is categorized as Emerging Markets Bonds, while XUSE.AS is Global Equities. CYBE.AS tracks Bloomberg China Treasury + Policy Bank Index, while XUSE.AS tracks MSCI World ex USA Index. Their fees differ too: 0.40% for CYBE.AS and 0.25% for XUSE.AS.
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