CYBU.AS vs. SEMC.L

Last updated Jun 4, 2026

CYBU.AS (iShares China CNY Bond UCITS ETF USD Hedged (Dist)) and SEMC.L (UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis) are both Emerging Markets Bonds funds - CYBU.AS tracks the Bloomberg China Treasury + Policy Bank Index while SEMC.L tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, CYBU.AS returned 5.66%/yr vs 2.94%/yr for SEMC.L. At a 0.04 correlation, their price movements are largely independent. CYBU.AS charges 0.40%/yr vs 0.42%/yr for SEMC.L.

Performance

CYBU.AS vs. SEMC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares China CNY Bond UCITS ETF USD Hedged (Dist) (CYBU.AS) and UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis (SEMC.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CYBU.AS is traded in USD, while SEMC.L is traded in GBp. To make them comparable, the SEMC.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CYBU.AS achieves a 2.47% return, which is significantly higher than SEMC.L's 2.03% return.

CYBU.AS

• 1D: -0.03%
• 1M: 0.56%
• YTD: 2.47%
• 6M: 2.51%
• 1Y: 3.77%
• 3Y*: 6.97%
• 5Y*: 5.66%
• 10Y*: —

SEMC.L

• 1D: -0.09%
• 1M: 0.71%
• YTD: 2.03%
• 6M: 2.49%
• 1Y: 8.46%
• 3Y*: 8.52%
• 5Y*: 2.94%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CYBU.AS vs. SEMC.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CYBU.AS iShares China CNY Bond UCITS ETF USD Hedged (Dist)	2.47%	2.47%	11.50%	7.81%	2.55%	2.30%	1.05%	1.71%
SEMC.L UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis	2.03%	10.24%	7.28%	7.45%	-10.17%	0.62%	2.59%	1.94%

Correlation

The correlation between CYBU.AS and SEMC.L is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (All Time) Calculated using the full available price history since Nov 5, 2019	0.04

Return for Risk

CYBU.AS vs. SEMC.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CYBU.AS

CYBU.AS Risk / Return Rank: 61
CYBU.AS Sharpe Ratio Rank: 47
CYBU.AS Sortino Ratio Rank: 48
CYBU.AS Omega Ratio Rank: 48
CYBU.AS Calmar Ratio Rank: 88
CYBU.AS Martin Ratio Rank: 71

SEMC.L

SEMC.L Risk / Return Rank: 49
SEMC.L Sharpe Ratio Rank: 46
SEMC.L Sortino Ratio Rank: 50
SEMC.L Omega Ratio Rank: 45
SEMC.L Calmar Ratio Rank: 55
SEMC.L Martin Ratio Rank: 48

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CYBU.AS vs. SEMC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares China CNY Bond UCITS ETF USD Hedged (Dist) (CYBU.AS) and UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis (SEMC.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.

	CYBU.AS	SEMC.L	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.84	-0.22
Sortino ratio: Return per unit of downside risk	2.35	2.72	-0.37
Omega ratio: Gain probability vs. loss probability	1.30	1.33	-0.03
Calmar ratio: Return relative to maximum drawdown	5.15	3.73	+1.42
Martin ratio: Return relative to average drawdown	13.17	17.80	-4.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CYBU.AS vs. SEMC.L - Sharpe Ratio Comparison

The current CYBU.AS Sharpe Ratio is 1.63, which is comparable to the SEMC.L Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of CYBU.AS and SEMC.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CYBU.AS	SEMC.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.63	1.84	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.19	0.48	+1.71
Sharpe Ratio (All Time) Calculated using the full available price history	1.82	0.49	+1.33

Drawdowns

CYBU.AS vs. SEMC.L - Drawdown Comparison

The maximum CYBU.AS drawdown since its inception was -4.89%, smaller than the maximum SEMC.L drawdown of -16.63%. Use the drawdown chart below to compare losses from any high point for CYBU.AS and SEMC.L.

Drawdown Indicators

	CYBU.AS	SEMC.L	Difference
Max Drawdown Largest peak-to-trough decline	-4.89%	-16.63%	+11.74%
Max Drawdown (1Y) Largest decline over 1 year	-0.72%	-2.26%	+1.54%
Max Drawdown (3Y) Largest decline over 3 years	-1.84%	-2.61%	+0.77%
Max Drawdown (5Y) Largest decline over 5 years	-1.84%	-16.63%	+14.79%
Current Drawdown Current decline from peak	-0.27%	-0.17%	-0.10%
Average Drawdown Average peak-to-trough decline	-1.12%	-3.27%	+2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.28%	0.47%	-0.19%

Volatility

CYBU.AS vs. SEMC.L - Volatility Comparison

The current volatility for iShares China CNY Bond UCITS ETF USD Hedged (Dist) (CYBU.AS) is 0.82%, while UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis (SEMC.L) has a volatility of 1.51%. This indicates that CYBU.AS experiences smaller price fluctuations and is considered to be less risky than SEMC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CYBU.AS	SEMC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.82%	1.51%	-0.69%
Volatility (6M) Calculated over the trailing 6-month period	1.66%	3.71%	-2.05%
Volatility (1Y) Calculated over the trailing 1-year period	2.30%	4.57%	-2.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.54%	6.09%	-3.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.59%	6.42%	-3.83%

CYBU.AS vs. SEMC.L - Expense Ratio Comparison

CYBU.AS has a 0.40% expense ratio, which is lower than SEMC.L's 0.42% expense ratio.

Dividends

CYBU.AS vs. SEMC.L - Dividend Comparison

CYBU.AS's dividend yield for the trailing twelve months is around 1.84%, less than SEMC.L's 5.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CYBU.AS iShares China CNY Bond UCITS ETF USD Hedged (Dist)	1.84%	1.88%	2.13%	2.45%	2.60%	2.82%	2.66%	0.21%	0.00%
SEMC.L UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis	5.78%	6.51%	5.02%	5.04%	3.98%	3.97%	4.77%	5.18%	1.98%

Frequently Asked Questions

Can I hold both CYBU.AS and SEMC.L in my portfolio?

CYBU.AS and SEMC.L have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CYBU.AS or SEMC.L?

On fees, CYBU.AS is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CYBU.AS or SEMC.L?

CYBU.AS is cheaper with a 0.40% expense ratio, compared with 0.42% for SEMC.L.

What is the main difference between CYBU.AS and SEMC.L?

CYBU.AS tracks Bloomberg China Treasury + Policy Bank Index, while SEMC.L tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: iShares and UBS. Their fees differ too: 0.40% for CYBU.AS and 0.42% for SEMC.L.