FRCK.DE vs. ICGB.DE
FRCK.DE (UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (EUR Hedged) Acc) and ICGB.DE (iShares China CNY Bond UCITS ETF USD (Dist)) are both Emerging Markets Bonds funds - FRCK.DE tracks the Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped (EUR Hedged) while ICGB.DE tracks the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, FRCK.DE returned 0.08%/yr vs 3.74%/yr for ICGB.DE. At a correlation of -0.15, they often move in opposite directions. FRCK.DE charges 0.28%/yr vs 0.35%/yr for ICGB.DE.
Performance
FRCK.DE vs. ICGB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, FRCK.DE achieves a 1.70% return, which is significantly lower than ICGB.DE's 8.51% return.
FRCK.DE
- 1D
- 0.08%
- 1M
- -0.75%
- 6M
- 1.85%
- YTD
- 1.70%
- 1Y
- 9.83%
- 3Y*
- 8.11%
- 5Y*
- 0.08%
- 10Y*
- 1.10%
ICGB.DE
- 1D
- 0.20%
- 1M
- 1.66%
- 6M
- 7.11%
- YTD
- 8.51%
- 1Y
- 9.27%
- 3Y*
- 5.17%
- 5Y*
- 3.74%
- 10Y*
- —
FRCK.DE vs. ICGB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FRCK.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (EUR Hedged) Acc | 1.70% | 12.79% | 5.41% | 9.66% | -22.04% | -3.92% | 2.79% | 0.55% |
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 8.51% | -7.16% | 11.36% | -2.27% | 1.10% | 17.31% | 0.08% | -10.15% |
Correlation
The correlation between FRCK.DE and ICGB.DE is -0.24, 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 | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.23 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | -0.15 |
The correlation between FRCK.DE and ICGB.DE shifts across timeframes, from -0.27 (3 years) to -0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FRCK.DE vs. ICGB.DE — Risk / Return Rank
FRCK.DE
ICGB.DE
FRCK.DE vs. ICGB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (EUR Hedged) Acc (FRCK.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.
| FRCK.DE | ICGB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.32 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.19 | 3.33 | -1.14 |
| Martin ratioReturn relative to average drawdown | 9.08 | 8.75 | +0.34 |
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Drawdowns
FRCK.DE vs. ICGB.DE - Drawdown Comparison
The maximum FRCK.DE drawdown since its inception was -32.71%, which is greater than ICGB.DE's maximum drawdown of -13.36%. Use the drawdown chart below to compare losses from any high point for FRCK.DE and ICGB.DE.
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Drawdown Indicators
| FRCK.DE | ICGB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.71% | -13.36% | -19.35% |
Max Drawdown (1Y)Largest decline over 1 year | -4.48% | -2.77% | -1.71% |
Max Drawdown (3Y)Largest decline over 3 years | -7.71% | -11.17% | +3.46% |
Max Drawdown (5Y)Largest decline over 5 years | -32.71% | -13.36% | -19.35% |
Max Drawdown (10Y)Largest decline over 10 years | -32.71% | — | — |
Current DrawdownCurrent decline from peak | -0.90% | -1.22% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -8.64% | -6.40% | -2.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 1.06% | +0.02% |
Volatility
FRCK.DE vs. ICGB.DE - Volatility Comparison
The current volatility for UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (EUR Hedged) Acc (FRCK.DE) is 0.93%, while iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) has a volatility of 1.31%. This indicates that FRCK.DE experiences smaller price fluctuations and is considered to be less risky 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
| FRCK.DE | ICGB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 1.31% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 4.47% | 3.60% | +0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.43% | 5.40% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.03% | 6.63% | +2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.29% | 7.90% | +1.39% |
FRCK.DE vs. ICGB.DE - Expense Ratio Comparison
FRCK.DE has a 0.28% expense ratio, which is lower than ICGB.DE's 0.35% expense ratio.
Dividends
FRCK.DE vs. ICGB.DE - Dividend Comparison
FRCK.DE has not paid dividends to shareholders, while ICGB.DE's dividend yield for the trailing twelve months is around 1.68%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FRCK.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign 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) | 1.68% | 1.92% | 2.22% | 2.58% | 2.80% | 2.71% | 2.63% | 0.95% |
Frequently Asked Questions
FRCK.DE and ICGB.DE have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FRCK.DE is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FRCK.DE is cheaper with a 0.28% expense ratio, compared with 0.35% for ICGB.DE.
FRCK.DE tracks Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped (EUR Hedged), while ICGB.DE tracks Bloomberg China Treasury + Policy Bank Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.28% for FRCK.DE and 0.35% for ICGB.DE.
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