GASF.DE vs. CEB0.DE
GASF.DE (Goldman Sachs Access China Government Bond UCITS ETF USD Inc) and CEB0.DE (iShares China CNY Bond UCITS ETF EUR Hedged Dist) are both Emerging Markets Bonds funds - GASF.DE tracks the FTSE Goldman Sachs China Government Bond Index while CEB0.DE tracks the Bloomberg Barclays China Treasury + Policy Bank Index. Both are passively managed. Over the past year, GASF.DE returned 8.98% vs 1.66% for CEB0.DE. At a 0.21 correlation, their price movements are largely independent. GASF.DE charges 0.24%/yr vs 0.40%/yr for CEB0.DE.
Performance
GASF.DE vs. CEB0.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GASF.DE achieves a 7.95% return, which is significantly higher than CEB0.DE's 2.17% return.
GASF.DE
- 1D
- 0.06%
- 1M
- 1.40%
- 6M
- 6.61%
- YTD
- 7.95%
- 1Y
- 8.98%
- 3Y*
- 5.09%
- 5Y*
- 3.52%
- 10Y*
- —
CEB0.DE
- 1D
- 0.00%
- 1M
- 0.73%
- 6M
- 2.20%
- YTD
- 2.17%
- 1Y
- 1.66%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GASF.DE vs. CEB0.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc | 7.95% | -6.82% | 8.13% |
CEB0.DE iShares China CNY Bond UCITS ETF EUR Hedged Dist | 2.17% | 0.43% | 6.85% |
Correlation
The correlation between GASF.DE and CEB0.DE is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2024 | 0.21 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GASF.DE vs. CEB0.DE — Risk / Return Rank
GASF.DE
CEB0.DE
GASF.DE vs. CEB0.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.DE) and iShares China CNY Bond UCITS ETF EUR Hedged Dist (CEB0.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.
| GASF.DE | CEB0.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.18 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 1.67 | +1.17 |
| Martin ratioReturn relative to average drawdown | 8.54 | 3.64 | +4.89 |
Loading charts...
Drawdowns
GASF.DE vs. CEB0.DE - Drawdown Comparison
The maximum GASF.DE drawdown since its inception was -13.75%, which is greater than CEB0.DE's maximum drawdown of -1.83%. Use the drawdown chart below to compare losses from any high point for GASF.DE and CEB0.DE.
Loading charts...
Drawdown Indicators
| GASF.DE | CEB0.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.75% | -1.83% | -11.92% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -0.99% | -2.41% |
Max Drawdown (3Y)Largest decline over 3 years | -11.00% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -13.75% | — | — |
Current DrawdownCurrent decline from peak | -1.53% | 0.00% | -1.53% |
Average DrawdownAverage peak-to-trough decline | -6.06% | -0.37% | -5.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 0.46% | +0.66% |
Volatility
GASF.DE vs. CEB0.DE - Volatility Comparison
Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.DE) has a higher volatility of 1.48% compared to iShares China CNY Bond UCITS ETF EUR Hedged Dist (CEB0.DE) at 0.44%. This indicates that GASF.DE's price experiences larger fluctuations and is considered to be riskier than CEB0.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GASF.DE | CEB0.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 0.44% | +1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.45% | 1.47% | +1.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.35% | 1.75% | +3.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.68% | 2.01% | +4.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.71% | 2.01% | +5.70% |
GASF.DE vs. CEB0.DE - Expense Ratio Comparison
GASF.DE has a 0.24% expense ratio, which is lower than CEB0.DE's 0.40% expense ratio.
Dividends
GASF.DE vs. CEB0.DE - Dividend Comparison
GASF.DE's dividend yield for the trailing twelve months is around 1.98%, more than CEB0.DE's 1.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CEB0.DE iShares China CNY Bond UCITS ETF EUR Hedged Dist | 1.71% | 1.84% | 1.43% | 0.00% | 0.00% | 0.00% | 0.00% |
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc | 1.98% | 2.36% | 2.35% | 2.63% | 2.73% | 2.40% | 1.99% |
Frequently Asked Questions
GASF.DE and CEB0.DE have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GASF.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GASF.DE is cheaper with a 0.24% expense ratio, compared with 0.40% for CEB0.DE.
GASF.DE tracks FTSE Goldman Sachs China Government Bond Index, while CEB0.DE tracks Bloomberg Barclays China Treasury + Policy Bank Index. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.24% for GASF.DE and 0.40% for CEB0.DE.
Find the right allocation for GASF.DE and CEB0.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer