CYGB.L vs. JPEE.L
CYGB.L (iShares China CNY Bond UCITS ETF GBP Hedged (Dist)) and JPEE.L (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)) are both Emerging Markets Bonds funds from iShares - CYGB.L tracks the Bloomberg China Treasury + Policy Bank Index while JPEE.L tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, CYGB.L returned 5.44%/yr vs 2.36%/yr for JPEE.L. At a 0.00 correlation, their price movements are largely independent. CYGB.L charges 0.40%/yr vs 0.45%/yr for JPEE.L.
Performance
CYGB.L vs. JPEE.L - Performance Comparison
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Different Trading Currencies
CYGB.L is traded in GBP, while JPEE.L is traded in EUR. To make them comparable, the JPEE.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, CYGB.L achieves a 3.55% return, which is significantly higher than JPEE.L's 2.52% return.
CYGB.L
- 1D
- 0.10%
- 1M
- 0.74%
- 6M
- 3.19%
- YTD
- 3.55%
- 1Y
- 3.60%
- 3Y*
- 6.74%
- 5Y*
- 5.44%
- 10Y*
- —
JPEE.L
- 1D
- 0.00%
- 1M
- -0.39%
- 6M
- 2.63%
- YTD
- 2.52%
- 1Y
- 10.05%
- 3Y*
- 7.97%
- 5Y*
- 2.36%
- 10Y*
- —
CYGB.L vs. JPEE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CYGB.L iShares China CNY Bond UCITS ETF GBP Hedged (Dist) | 3.55% | 2.20% | 11.38% | 7.14% | 2.11% | 2.84% |
JPEE.L iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) | 2.52% | 6.06% | 7.50% | 4.43% | -8.96% | 6.51% |
Correlation
The correlation between CYGB.L and JPEE.L is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2021 | 0.00 |
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Return for Risk
CYGB.L vs. JPEE.L — Risk / Return Rank
CYGB.L
JPEE.L
CYGB.L vs. JPEE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares China CNY Bond UCITS ETF GBP Hedged (Dist) (CYGB.L) and iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (JPEE.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.
| CYGB.L | JPEE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.29 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 5.18 | 2.51 | +2.67 |
| Martin ratioReturn relative to average drawdown | 11.91 | 6.84 | +5.07 |
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Drawdowns
CYGB.L vs. JPEE.L - Drawdown Comparison
The maximum CYGB.L drawdown since its inception was -1.56%, smaller than the maximum JPEE.L drawdown of -25.54%. Use the drawdown chart below to compare losses from any high point for CYGB.L and JPEE.L.
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Drawdown Indicators
| CYGB.L | JPEE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.56% | -25.54% | +23.98% |
Max Drawdown (1Y)Largest decline over 1 year | -0.69% | -4.03% | +3.34% |
Max Drawdown (3Y)Largest decline over 3 years | -1.56% | -8.89% | +7.33% |
Max Drawdown (5Y)Largest decline over 5 years | -1.56% | -14.29% | +12.73% |
Current DrawdownCurrent decline from peak | 0.00% | -2.15% | +2.15% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -11.22% | +10.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 1.47% | -1.17% |
Volatility
CYGB.L vs. JPEE.L - Volatility Comparison
The current volatility for iShares China CNY Bond UCITS ETF GBP Hedged (Dist) (CYGB.L) is 0.59%, while iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (JPEE.L) has a volatility of 1.93%. This indicates that CYGB.L experiences smaller price fluctuations and is considered to be less risky than JPEE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CYGB.L | JPEE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 1.93% | -1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 2.22% | 4.64% | -2.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.71% | 6.32% | -3.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.37% | 8.87% | -6.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.33% | 11.59% | -9.26% |
CYGB.L vs. JPEE.L - Expense Ratio Comparison
CYGB.L has a 0.40% expense ratio, which is lower than JPEE.L's 0.45% expense ratio.
Dividends
CYGB.L vs. JPEE.L - Dividend Comparison
CYGB.L's dividend yield for the trailing twelve months is around 1.70%, while JPEE.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CYGB.L iShares China CNY Bond UCITS ETF GBP Hedged (Dist) | 1.70% | 1.84% | 2.13% | 2.38% | 2.68% | 2.21% |
JPEE.L iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CYGB.L and JPEE.L have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CYGB.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CYGB.L is cheaper with a 0.40% expense ratio, compared with 0.45% for JPEE.L.
CYGB.L tracks Bloomberg China Treasury + Policy Bank Index, while JPEE.L tracks JPM EMBI Global Diversified TR USD. Their fees differ too: 0.40% for CYGB.L and 0.45% for JPEE.L.
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