IBCI.L vs. CYGB.L
IBCI.L (iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc)) and CYGB.L (iShares China CNY Bond UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - IBCI.L is a Government Bonds fund tracking the iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc), while CYGB.L is a Emerging Markets Bonds fund tracking the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, IBCI.L returned 0.22%/yr vs 5.44%/yr for CYGB.L. At a 0.05 correlation, their price movements are largely independent. IBCI.L charges 0.09%/yr vs 0.40%/yr for CYGB.L.
Performance
IBCI.L vs. CYGB.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBCI.L achieves a -0.50% return, which is significantly lower than CYGB.L's 3.55% return.
IBCI.L
- 1D
- -0.23%
- 1M
- -2.45%
- 6M
- -0.49%
- YTD
- -0.50%
- 1Y
- 0.53%
- 3Y*
- 1.66%
- 5Y*
- 0.22%
- 10Y*
- 1.54%
CYGB.L
- 1D
- 0.10%
- 1M
- 0.74%
- 6M
- 3.19%
- YTD
- 3.55%
- 1Y
- 3.60%
- 3Y*
- 6.74%
- 5Y*
- 5.44%
- 10Y*
- —
IBCI.L vs. CYGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IBCI.L iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) | -0.50% | 6.03% | -4.55% | 3.48% | -4.33% | 4.21% |
CYGB.L iShares China CNY Bond UCITS ETF GBP Hedged (Dist) | 3.55% | 2.20% | 11.38% | 7.14% | 2.11% | 2.84% |
Correlation
The correlation between IBCI.L and CYGB.L is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2021 | 0.05 |
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Return for Risk
IBCI.L vs. CYGB.L — Risk / Return Rank
IBCI.L
CYGB.L
IBCI.L vs. CYGB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) (IBCI.L) and iShares China CNY Bond UCITS ETF GBP Hedged (Dist) (CYGB.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.
| IBCI.L | CYGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.28 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.13 | 5.18 | -5.05 |
| Martin ratioReturn relative to average drawdown | 0.29 | 11.91 | -11.62 |
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Drawdowns
IBCI.L vs. CYGB.L - Drawdown Comparison
The maximum IBCI.L drawdown since its inception was -30.47%, which is greater than CYGB.L's maximum drawdown of -1.56%. Use the drawdown chart below to compare losses from any high point for IBCI.L and CYGB.L.
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Drawdown Indicators
| IBCI.L | CYGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.47% | -1.56% | -28.91% |
Max Drawdown (1Y)Largest decline over 1 year | -3.49% | -0.69% | -2.80% |
Max Drawdown (3Y)Largest decline over 3 years | -14.28% | -1.56% | -12.72% |
Max Drawdown (5Y)Largest decline over 5 years | -14.28% | -1.56% | -12.72% |
Max Drawdown (10Y)Largest decline over 10 years | -14.53% | — | — |
Current DrawdownCurrent decline from peak | -8.97% | 0.00% | -8.97% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -0.24% | -10.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 0.30% | +1.23% |
Volatility
IBCI.L vs. CYGB.L - Volatility Comparison
iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) (IBCI.L) has a higher volatility of 1.34% compared to iShares China CNY Bond UCITS ETF GBP Hedged (Dist) (CYGB.L) at 0.59%. This indicates that IBCI.L's price experiences larger fluctuations and is considered to be riskier than CYGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBCI.L | CYGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 0.59% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 3.71% | 2.22% | +1.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.90% | 2.71% | +2.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.49% | 2.37% | +9.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.76% | 2.33% | +9.43% |
IBCI.L vs. CYGB.L - Expense Ratio Comparison
IBCI.L has a 0.09% expense ratio, which is lower than CYGB.L's 0.40% expense ratio.
Dividends
IBCI.L vs. CYGB.L - Dividend Comparison
IBCI.L has not paid dividends to shareholders, while CYGB.L's dividend yield for the trailing twelve months is around 1.70%.
| 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% |
IBCI.L iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBCI.L and CYGB.L have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBCI.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBCI.L is cheaper with a 0.09% expense ratio, compared with 0.40% for CYGB.L.
IBCI.L is categorized as Government Bonds, while CYGB.L is Emerging Markets Bonds. IBCI.L tracks iShares € Inflation Linked Govt Bond UCITS ETF EUR (Acc), while CYGB.L tracks Bloomberg China Treasury + Policy Bank Index. Their fees differ too: 0.09% for IBCI.L and 0.40% for CYGB.L.
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