ENDH.DE vs. ICGB.DE
ENDH.DE (L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EUR Hedged) Acc) and ICGB.DE (iShares China CNY Bond UCITS ETF USD (Dist)) are both Emerging Markets Bonds funds - ENDH.DE tracks the J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity (EUR Hedged) while ICGB.DE tracks the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 3 years, ENDH.DE returned 6.02%/yr vs 4.28%/yr for ICGB.DE. At a correlation of -0.19, they often move in opposite directions. ENDH.DE charges 0.28%/yr vs 0.35%/yr for ICGB.DE.
Performance
ENDH.DE vs. ICGB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ENDH.DE achieves a 0.16% return, which is significantly lower than ICGB.DE's 7.85% return.
ENDH.DE
- 1D
- 0.00%
- 1M
- 0.62%
- 6M
- 0.26%
- YTD
- 0.16%
- 1Y
- 3.34%
- 3Y*
- 6.02%
- 5Y*
- —
- 10Y*
- —
ICGB.DE
- 1D
- -0.20%
- 1M
- 1.25%
- 6M
- 7.38%
- YTD
- 7.85%
- 1Y
- 9.80%
- 3Y*
- 4.28%
- 5Y*
- 3.84%
- 10Y*
- —
ENDH.DE vs. ICGB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ENDH.DE L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EUR Hedged) Acc | 0.16% | 7.89% | 6.59% | 5.41% | -2.48% |
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 7.85% | -7.16% | 11.36% | -2.27% | -2.83% |
Correlation
The correlation between ENDH.DE and ICGB.DE is -0.15, 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 | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since May 5, 2022 | -0.19 |
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Return for Risk
ENDH.DE vs. ICGB.DE — Risk / Return Rank
ENDH.DE
ICGB.DE
ENDH.DE vs. ICGB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EUR Hedged) Acc (ENDH.DE) and iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE). 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.
| ENDH.DE | ICGB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.34 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 3.52 | -2.02 |
| Martin ratioReturn relative to average drawdown | 4.55 | 9.25 | -4.70 |
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Drawdowns
ENDH.DE vs. ICGB.DE - Drawdown Comparison
The maximum ENDH.DE drawdown since its inception was -6.78%, smaller than the maximum ICGB.DE drawdown of -13.36%. Use the drawdown chart below to compare losses from any high point for ENDH.DE and ICGB.DE.
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Drawdown Indicators
| ENDH.DE | ICGB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.78% | -13.36% | +6.58% |
Max Drawdown (1Y)Largest decline over 1 year | -2.21% | -2.77% | +0.56% |
Max Drawdown (3Y)Largest decline over 3 years | -2.71% | -11.17% | +8.46% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.36% | — |
Current DrawdownCurrent decline from peak | -1.17% | -1.82% | +0.65% |
Average DrawdownAverage peak-to-trough decline | -1.11% | -6.42% | +5.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 1.06% | -0.33% |
Volatility
ENDH.DE vs. ICGB.DE - Volatility Comparison
L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EUR Hedged) Acc (ENDH.DE) has a higher volatility of 2.32% compared to iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) at 1.34%. This indicates that ENDH.DE's price experiences larger fluctuations and is considered to be riskier than ICGB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENDH.DE | ICGB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.32% | 1.34% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 4.35% | 3.71% | +0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.70% | 5.38% | -0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.96% | 6.64% | -1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.96% | 7.91% | -2.95% |
ENDH.DE vs. ICGB.DE - Expense Ratio Comparison
ENDH.DE has a 0.28% expense ratio, which is lower than ICGB.DE's 0.35% expense ratio.
Dividends
ENDH.DE vs. ICGB.DE - Dividend Comparison
ENDH.DE has not paid dividends to shareholders, while ICGB.DE's dividend yield for the trailing twelve months is around 1.69%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ENDH.DE L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EUR Hedged) Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 1.69% | 1.92% | 2.22% | 2.58% | 2.80% | 2.71% | 2.63% | 0.95% |
Frequently Asked Questions
ENDH.DE and ICGB.DE have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ENDH.DE is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ENDH.DE is cheaper with a 0.28% expense ratio, compared with 0.35% for ICGB.DE.
ENDH.DE tracks J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity (EUR Hedged), while ICGB.DE tracks Bloomberg China Treasury + Policy Bank Index. They also come from different issuers: Legal & General and iShares. Their fees differ too: 0.28% for ENDH.DE and 0.35% for ICGB.DE.
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