CYGB.L vs. VEMT.L
CYGB.L (iShares China CNY Bond UCITS ETF GBP Hedged (Dist)) and VEMT.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds - CYGB.L tracks the Bloomberg China Treasury + Policy Bank Index while VEMT.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 2.58%/yr for VEMT.L. At a 0.03 correlation, their price movements are largely independent. CYGB.L charges 0.40%/yr vs 0.25%/yr for VEMT.L.
Performance
CYGB.L vs. VEMT.L - Performance Comparison
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Returns By Period
In the year-to-date period, CYGB.L achieves a 3.55% return, which is significantly higher than VEMT.L's 1.12% 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*
- —
VEMT.L
- 1D
- -0.92%
- 1M
- -0.96%
- 6M
- 1.21%
- YTD
- 1.12%
- 1Y
- 7.62%
- 3Y*
- 7.00%
- 5Y*
- 2.58%
- 10Y*
- —
CYGB.L vs. VEMT.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% |
VEMT.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 1.12% | 4.08% | 8.08% | 3.45% | -5.21% | 5.91% |
Correlation
The correlation between CYGB.L and VEMT.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 | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
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. VEMT.L — Risk / Return Rank
CYGB.L
VEMT.L
CYGB.L vs. VEMT.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 Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.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 | VEMT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.21 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 5.18 | 1.75 | +3.42 |
| Martin ratioReturn relative to average drawdown | 11.91 | 4.76 | +7.15 |
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Drawdowns
CYGB.L vs. VEMT.L - Drawdown Comparison
The maximum CYGB.L drawdown since its inception was -1.56%, smaller than the maximum VEMT.L drawdown of -14.62%. Use the drawdown chart below to compare losses from any high point for CYGB.L and VEMT.L.
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Drawdown Indicators
| CYGB.L | VEMT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.56% | -14.62% | +13.06% |
Max Drawdown (1Y)Largest decline over 1 year | -0.69% | -4.33% | +3.64% |
Max Drawdown (3Y)Largest decline over 3 years | -1.56% | -8.60% | +7.04% |
Max Drawdown (5Y)Largest decline over 5 years | -1.56% | -11.41% | +9.85% |
Current DrawdownCurrent decline from peak | 0.00% | -2.94% | +2.94% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -5.81% | +5.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 1.60% | -1.30% |
Volatility
CYGB.L vs. VEMT.L - Volatility Comparison
The current volatility for iShares China CNY Bond UCITS ETF GBP Hedged (Dist) (CYGB.L) is 0.59%, while Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.L) has a volatility of 2.25%. This indicates that CYGB.L experiences smaller price fluctuations and is considered to be less risky than VEMT.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 | VEMT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 2.25% | -1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 2.22% | 4.81% | -2.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.71% | 6.40% | -3.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.37% | 8.13% | -5.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.33% | 9.12% | -6.79% |
CYGB.L vs. VEMT.L - Expense Ratio Comparison
CYGB.L has a 0.40% expense ratio, which is higher than VEMT.L's 0.25% expense ratio.
Dividends
CYGB.L vs. VEMT.L - Dividend Comparison
CYGB.L's dividend yield for the trailing twelve months is around 1.70%, less than VEMT.L's 5.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
VEMT.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.96% | 6.17% | 5.74% | 5.56% | 4.88% | 3.81% | 4.47% | 4.46% | 4.45% | 4.81% |
Frequently Asked Questions
CYGB.L and VEMT.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, VEMT.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VEMT.L is cheaper with a 0.25% expense ratio, compared with 0.40% for CYGB.L.
CYGB.L tracks Bloomberg China Treasury + Policy Bank Index, while VEMT.L tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.40% for CYGB.L and 0.25% for VEMT.L.
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