CYGB.L vs. TAHY.L
CYGB.L (iShares China CNY Bond UCITS ETF GBP Hedged (Dist)) and TAHY.L (Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc)) are both exchange-traded funds - CYGB.L is a Emerging Markets Bonds fund tracking the Bloomberg China Treasury + Policy Bank Index, while TAHY.L is a High Yield Bonds fund tracking the iBoxx MSCI Scored & Screened Tilted USD Asia ex-Japan High Yield Capped TCA Index. Both are passively managed. Over the past 3 years, CYGB.L returned 6.63%/yr vs 6.97%/yr for TAHY.L. At a correlation of -0.04, they often move in opposite directions. CYGB.L charges 0.40%/yr vs 0.60%/yr for TAHY.L.
Performance
CYGB.L vs. TAHY.L - Performance Comparison
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Different Trading Currencies
CYGB.L is traded in GBP, while TAHY.L is traded in USD. To make them comparable, the TAHY.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with CYGB.L having a 3.44% return and TAHY.L slightly lower at 3.40%.
CYGB.L
- 1D
- -0.17%
- 1M
- 0.46%
- 6M
- 3.08%
- YTD
- 3.44%
- 1Y
- 3.67%
- 3Y*
- 6.63%
- 5Y*
- 5.42%
- 10Y*
- —
TAHY.L
- 1D
- -1.09%
- 1M
- -1.59%
- 6M
- 1.64%
- YTD
- 3.40%
- 1Y
- 5.75%
- 3Y*
- 6.97%
- 5Y*
- —
- 10Y*
- —
CYGB.L vs. TAHY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CYGB.L iShares China CNY Bond UCITS ETF GBP Hedged (Dist) | 3.44% | 2.20% | 11.38% | 7.14% | 2.11% | 0.28% |
TAHY.L Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) | 3.40% | -0.38% | 19.59% | -15.20% | -8.69% | -11.17% |
Correlation
The correlation between CYGB.L and TAHY.L is -0.04, 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 | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 2, 2021 | -0.04 |
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Return for Risk
CYGB.L vs. TAHY.L — Risk / Return Rank
CYGB.L
TAHY.L
CYGB.L vs. TAHY.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 Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) (TAHY.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 | TAHY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.13 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 5.28 | 0.92 | +4.36 |
| Martin ratioReturn relative to average drawdown | 12.15 | 2.26 | +9.89 |
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Drawdowns
CYGB.L vs. TAHY.L - Drawdown Comparison
The maximum CYGB.L drawdown since its inception was -1.56%, smaller than the maximum TAHY.L drawdown of -40.62%. Use the drawdown chart below to compare losses from any high point for CYGB.L and TAHY.L.
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Drawdown Indicators
| CYGB.L | TAHY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.56% | -40.62% | +39.06% |
Max Drawdown (1Y)Largest decline over 1 year | -0.69% | -5.98% | +5.29% |
Max Drawdown (3Y)Largest decline over 3 years | -1.56% | -7.70% | +6.14% |
Max Drawdown (5Y)Largest decline over 5 years | -1.56% | — | — |
Current DrawdownCurrent decline from peak | -0.17% | -15.32% | +15.15% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -21.35% | +21.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.29% | 2.43% | -2.14% |
Volatility
CYGB.L vs. TAHY.L - Volatility Comparison
The current volatility for iShares China CNY Bond UCITS ETF GBP Hedged (Dist) (CYGB.L) is 0.59%, while Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) (TAHY.L) has a volatility of 2.17%. This indicates that CYGB.L experiences smaller price fluctuations and is considered to be less risky than TAHY.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 | TAHY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 2.17% | -1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 2.24% | 5.89% | -3.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.72% | 7.52% | -4.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.38% | 14.73% | -12.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.33% | 14.73% | -12.40% |
CYGB.L vs. TAHY.L - Expense Ratio Comparison
CYGB.L has a 0.40% expense ratio, which is lower than TAHY.L's 0.60% expense ratio.
Dividends
CYGB.L vs. TAHY.L - Dividend Comparison
CYGB.L's dividend yield for the trailing twelve months is around 1.70%, while TAHY.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% |
TAHY.L Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CYGB.L and TAHY.L have a correlation of -0.04, 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 0.60% for TAHY.L.
CYGB.L is categorized as Emerging Markets Bonds, while TAHY.L is High Yield Bonds. CYGB.L tracks Bloomberg China Treasury + Policy Bank Index, while TAHY.L tracks iBoxx MSCI Scored & Screened Tilted USD Asia ex-Japan High Yield Capped TCA Index. They also come from different issuers: iShares and Janus Henderson. Their fees differ too: 0.40% for CYGB.L and 0.60% for TAHY.L.
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