IBGX.L vs. CNYB.L
IBGX.L (iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist)) and CNYB.L (iShares China CNY Bond UCITS ETF USD (Dist)) are both exchange-traded funds - IBGX.L is a Government Bonds fund tracking the iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist), while CNYB.L is a Emerging Markets Bonds fund tracking the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, IBGX.L returned -0.65%/yr vs 3.58%/yr for CNYB.L. At a 0.31 correlation, their price movements are largely independent. IBGX.L charges 0.20%/yr vs 0.35%/yr for CNYB.L.
Performance
IBGX.L vs. CNYB.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBGX.L achieves a -3.21% return, which is significantly lower than CNYB.L's 5.08% return.
IBGX.L
- 1D
- -0.10%
- 1M
- -2.31%
- 6M
- -2.73%
- YTD
- -3.21%
- 1Y
- -1.79%
- 3Y*
- 2.39%
- 5Y*
- -0.65%
- 10Y*
- 0.28%
CNYB.L
- 1D
- 0.23%
- 1M
- -0.13%
- 6M
- 4.82%
- YTD
- 5.08%
- 1Y
- 7.11%
- 3Y*
- 4.85%
- 5Y*
- 3.58%
- 10Y*
- —
IBGX.L vs. CNYB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBGX.L iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist) | -3.21% | 7.79% | -2.42% | 3.20% | -5.19% | -7.77% | 6.63% | -5.47% |
CNYB.L iShares China CNY Bond UCITS ETF USD (Dist) | 5.08% | -2.20% | 6.65% | -4.09% | 6.21% | 9.69% | -19.80% | 0.53% |
Correlation
The correlation between IBGX.L and CNYB.L is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | 0.31 |
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Return for Risk
IBGX.L vs. CNYB.L — Risk / Return Rank
IBGX.L
CNYB.L
IBGX.L vs. CNYB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist) (IBGX.L) and iShares China CNY Bond UCITS ETF USD (Dist) (CNYB.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.
| IBGX.L | CNYB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.59 | ||
| Sortino ratioReturn per unit of downside risk | -2.30 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.21 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.43 | 2.57 | -3.01 |
| Martin ratioReturn relative to average drawdown | -1.07 | 6.13 | -7.20 |
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Drawdowns
IBGX.L vs. CNYB.L - Drawdown Comparison
The maximum IBGX.L drawdown since its inception was -25.93%, roughly equal to the maximum CNYB.L drawdown of -25.82%. Use the drawdown chart below to compare losses from any high point for IBGX.L and CNYB.L.
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Drawdown Indicators
| IBGX.L | CNYB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.93% | -25.82% | -0.11% |
Max Drawdown (1Y)Largest decline over 1 year | -4.83% | -2.75% | -2.08% |
Max Drawdown (3Y)Largest decline over 3 years | -4.83% | -9.03% | +4.20% |
Max Drawdown (5Y)Largest decline over 5 years | -12.06% | -15.44% | +3.38% |
Max Drawdown (10Y)Largest decline over 10 years | -18.07% | — | — |
Current DrawdownCurrent decline from peak | -10.77% | -7.25% | -3.52% |
Average DrawdownAverage peak-to-trough decline | -8.61% | -12.53% | +3.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.96% | 1.16% | +0.80% |
Volatility
IBGX.L vs. CNYB.L - Volatility Comparison
The current volatility for iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist) (IBGX.L) is 1.17%, while iShares China CNY Bond UCITS ETF USD (Dist) (CNYB.L) has a volatility of 1.68%. This indicates that IBGX.L experiences smaller price fluctuations and is considered to be less risky than CNYB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBGX.L | CNYB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 1.68% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 3.48% | 4.69% | -1.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.50% | 6.29% | -1.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.83% | 7.66% | -1.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.94% | 11.48% | -4.54% |
IBGX.L vs. CNYB.L - Expense Ratio Comparison
IBGX.L has a 0.20% expense ratio, which is lower than CNYB.L's 0.35% expense ratio.
Dividends
IBGX.L vs. CNYB.L - Dividend Comparison
IBGX.L's dividend yield for the trailing twelve months is around 2.52%, more than CNYB.L's 1.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNYB.L iShares China CNY Bond UCITS ETF USD (Dist) | 1.72% | 1.89% | 2.24% | 2.55% | 2.72% | 2.74% | 2.65% | 0.72% | 0.00% | 0.00% | 0.00% | 0.00% |
IBGX.L iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist) | 2.52% | 2.47% | 2.65% | 0.80% | 0.00% | 0.00% | 0.00% | 0.00% | 0.12% | 0.08% | 0.12% | 0.60% |
Frequently Asked Questions
IBGX.L and CNYB.L have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBGX.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBGX.L is cheaper with a 0.20% expense ratio, compared with 0.35% for CNYB.L.
IBGX.L is categorized as Government Bonds, while CNYB.L is Emerging Markets Bonds. IBGX.L tracks iShares € Govt Bond 3-5yr UCITS ETF EUR (Dist), while CNYB.L tracks Bloomberg China Treasury + Policy Bank Index. Their fees differ too: 0.20% for IBGX.L and 0.35% for CNYB.L.
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