CYGB.L vs. LQDH.L
CYGB.L (iShares China CNY Bond UCITS ETF GBP Hedged (Dist)) and LQDH.L (iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist)) are both exchange-traded funds - CYGB.L is a Emerging Markets Bonds fund tracking the Bloomberg China Treasury + Policy Bank Index, while LQDH.L is a Global Bonds fund tracking the iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist). Both are passively managed. Over the past 5 years, CYGB.L returned 5.44%/yr vs 5.74%/yr for LQDH.L. At a correlation of -0.03, they often move in opposite directions. CYGB.L charges 0.40%/yr vs 0.25%/yr for LQDH.L.
Performance
CYGB.L vs. LQDH.L - Performance Comparison
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Different Trading Currencies
CYGB.L is traded in GBP, while LQDH.L is traded in USD. To make them comparable, the LQDH.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 LQDH.L's 2.08% 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*
- —
LQDH.L
- 1D
- 0.00%
- 1M
- -1.03%
- 6M
- 1.27%
- YTD
- 2.08%
- 1Y
- 3.85%
- 3Y*
- 6.24%
- 5Y*
- 5.74%
- 10Y*
- 4.18%
CYGB.L vs. LQDH.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% |
LQDH.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) | 2.08% | -2.55% | 10.16% | 5.96% | 12.21% | 5.42% |
Correlation
The correlation between CYGB.L and LQDH.L is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2021 | -0.03 |
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Return for Risk
CYGB.L vs. LQDH.L — Risk / Return Rank
CYGB.L
LQDH.L
CYGB.L vs. LQDH.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 $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (LQDH.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 | LQDH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.10 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 5.18 | 0.97 | +4.21 |
| Martin ratioReturn relative to average drawdown | 11.91 | 2.61 | +9.31 |
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Drawdowns
CYGB.L vs. LQDH.L - Drawdown Comparison
The maximum CYGB.L drawdown since its inception was -1.56%, smaller than the maximum LQDH.L drawdown of -17.83%. Use the drawdown chart below to compare losses from any high point for CYGB.L and LQDH.L.
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Drawdown Indicators
| CYGB.L | LQDH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.56% | -17.83% | +16.27% |
Max Drawdown (1Y)Largest decline over 1 year | -0.69% | -4.07% | +3.38% |
Max Drawdown (3Y)Largest decline over 3 years | -1.56% | -9.62% | +8.06% |
Max Drawdown (5Y)Largest decline over 5 years | -1.56% | -10.90% | +9.34% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.83% | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.01% | +3.01% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -4.31% | +4.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 1.52% | -1.22% |
Volatility
CYGB.L vs. LQDH.L - Volatility Comparison
The current volatility for iShares China CNY Bond UCITS ETF GBP Hedged (Dist) (CYGB.L) is 0.59%, while iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (LQDH.L) has a volatility of 1.74%. This indicates that CYGB.L experiences smaller price fluctuations and is considered to be less risky than LQDH.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 | LQDH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 1.74% | -1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.22% | 5.35% | -3.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.71% | 6.99% | -4.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.37% | 8.95% | -6.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.33% | 9.87% | -7.54% |
CYGB.L vs. LQDH.L - Expense Ratio Comparison
CYGB.L has a 0.40% expense ratio, which is higher than LQDH.L's 0.25% expense ratio.
Dividends
CYGB.L vs. LQDH.L - Dividend Comparison
CYGB.L's dividend yield for the trailing twelve months is around 1.70%, less than LQDH.L's 4.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CYGB.L iShares China CNY Bond UCITS ETF GBP Hedged (Dist) | 1.70% | 1.84% | 2.13% | 2.38% | 2.68% | 2.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LQDH.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) | 4.34% | 4.66% | 5.52% | 4.83% | 2.07% | 1.55% | 2.45% | 3.52% | 2.87% | 2.14% | 2.46% | 3.25% |
Frequently Asked Questions
CYGB.L and LQDH.L have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LQDH.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LQDH.L is cheaper with a 0.25% expense ratio, compared with 0.40% for CYGB.L.
CYGB.L is categorized as Emerging Markets Bonds, while LQDH.L is Global Bonds. CYGB.L tracks Bloomberg China Treasury + Policy Bank Index, while LQDH.L tracks iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist). Their fees differ too: 0.40% for CYGB.L and 0.25% for LQDH.L.
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