ICGB.DE vs. 3SUD.DE
ICGB.DE (iShares China CNY Bond UCITS ETF USD (Dist)) and 3SUD.DE (iShares J.P. Morgan USD EM Bond UCITS ETF Acc) are both Emerging Markets Bonds funds from iShares - ICGB.DE tracks the Bloomberg China Treasury + Policy Bank Index while 3SUD.DE tracks the JP Morgan EMBI Global Core (EUR Hedged). Both are passively managed. Over the past 5 years, ICGB.DE returned 3.70%/yr vs -0.52%/yr for 3SUD.DE. At a correlation of -0.14, they often move in opposite directions. ICGB.DE charges 0.35%/yr vs 0.50%/yr for 3SUD.DE.
Performance
ICGB.DE vs. 3SUD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ICGB.DE achieves a 8.29% return, which is significantly higher than 3SUD.DE's 0.76% return.
ICGB.DE
- 1D
- 0.00%
- 1M
- 1.24%
- 6M
- 6.21%
- YTD
- 8.29%
- 1Y
- 8.81%
- 3Y*
- 5.26%
- 5Y*
- 3.70%
- 10Y*
- —
3SUD.DE
- 1D
- 0.00%
- 1M
- -0.75%
- 6M
- 0.76%
- YTD
- 0.76%
- 1Y
- 7.52%
- 3Y*
- 6.49%
- 5Y*
- -0.52%
- 10Y*
- —
ICGB.DE vs. 3SUD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 8.29% | -7.16% | 11.36% | -2.27% | 1.10% | 17.31% | 0.08% | -10.15% |
3SUD.DE iShares J.P. Morgan USD EM Bond UCITS ETF Acc | 0.76% | 11.46% | 3.74% | 7.58% | -20.68% | -3.62% | 3.56% | 1.33% |
Correlation
The correlation between ICGB.DE and 3SUD.DE is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.20 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | -0.14 |
The correlation between ICGB.DE and 3SUD.DE shifts across timeframes, from -0.23 (3 years) to -0.11 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ICGB.DE vs. 3SUD.DE — Risk / Return Rank
ICGB.DE
3SUD.DE
ICGB.DE vs. 3SUD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) and iShares J.P. Morgan USD EM Bond UCITS ETF Acc (3SUD.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.
| ICGB.DE | 3SUD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.24 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 1.54 | +1.63 |
| Martin ratioReturn relative to average drawdown | 8.39 | 6.42 | +1.97 |
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Drawdowns
ICGB.DE vs. 3SUD.DE - Drawdown Comparison
The maximum ICGB.DE drawdown since its inception was -13.36%, smaller than the maximum 3SUD.DE drawdown of -30.80%. Use the drawdown chart below to compare losses from any high point for ICGB.DE and 3SUD.DE.
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Drawdown Indicators
| ICGB.DE | 3SUD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.36% | -30.80% | +17.44% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -4.88% | +2.11% |
Max Drawdown (3Y)Largest decline over 3 years | -11.17% | -7.73% | -3.44% |
Max Drawdown (5Y)Largest decline over 5 years | -13.36% | -30.55% | +17.19% |
Current DrawdownCurrent decline from peak | -1.42% | -4.17% | +2.75% |
Average DrawdownAverage peak-to-trough decline | -6.39% | -11.05% | +4.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.17% | -0.13% |
Volatility
ICGB.DE vs. 3SUD.DE - Volatility Comparison
The current volatility for iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) is 1.06%, while iShares J.P. Morgan USD EM Bond UCITS ETF Acc (3SUD.DE) has a volatility of 1.24%. This indicates that ICGB.DE experiences smaller price fluctuations and is considered to be less risky than 3SUD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICGB.DE | 3SUD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 1.24% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.58% | 5.62% | -2.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.32% | 6.39% | -1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.63% | 9.03% | -2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.89% | 10.56% | -2.67% |
ICGB.DE vs. 3SUD.DE - Expense Ratio Comparison
ICGB.DE has a 0.35% expense ratio, which is lower than 3SUD.DE's 0.50% expense ratio.
Dividends
ICGB.DE vs. 3SUD.DE - Dividend Comparison
ICGB.DE's dividend yield for the trailing twelve months is around 1.68%, while 3SUD.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
3SUD.DE iShares J.P. Morgan USD EM Bond UCITS ETF 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
ICGB.DE and 3SUD.DE have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICGB.DE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICGB.DE is cheaper with a 0.35% expense ratio, compared with 0.50% for 3SUD.DE.
ICGB.DE tracks Bloomberg China Treasury + Policy Bank Index, while 3SUD.DE tracks JP Morgan EMBI Global Core (EUR Hedged). Their fees differ too: 0.35% for ICGB.DE and 0.50% for 3SUD.DE.
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