ICGB.DE vs. ASRC.DE
ICGB.DE (iShares China CNY Bond UCITS ETF USD (Dist)) and ASRC.DE (BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF) are both Emerging Markets Bonds funds - ICGB.DE tracks the Bloomberg China Treasury + Policy Bank Index while ASRC.DE tracks the JP Morgan ESG EMBI Global Diversified. Both are passively managed. Over the past 5 years, ICGB.DE returned 3.84%/yr vs 2.50%/yr for ASRC.DE. At a 0.32 correlation, their price movements are largely independent. ICGB.DE charges 0.35%/yr vs 0.25%/yr for ASRC.DE.
Performance
ICGB.DE vs. ASRC.DE - Performance Comparison
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Different Trading Currencies
ICGB.DE is traded in EUR, while ASRC.DE is traded in USD. To make them comparable, the ASRC.DE values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ICGB.DE achieves a 7.85% return, which is significantly higher than ASRC.DE's 4.95% return.
ICGB.DE
- 1D
- -0.20%
- 1M
- 1.25%
- 6M
- 7.38%
- YTD
- 7.85%
- 1Y
- 9.80%
- 3Y*
- 4.28%
- 5Y*
- 3.84%
- 10Y*
- —
ASRC.DE
- 1D
- 0.00%
- 1M
- 2.29%
- 6M
- 5.05%
- YTD
- 4.95%
- 1Y
- 12.13%
- 3Y*
- 6.85%
- 5Y*
- 2.50%
- 10Y*
- —
ICGB.DE vs. ASRC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 7.85% | -7.16% | 11.36% | -2.27% | 1.10% | 14.16% |
ASRC.DE BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF | 4.95% | 0.49% | 11.52% | 6.43% | -12.67% | 6.68% |
Correlation
The correlation between ICGB.DE and ASRC.DE is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2021 | 0.32 |
The correlation between ICGB.DE and ASRC.DE shifts across timeframes, from 0.31 (5 years) to 0.43 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ICGB.DE vs. ASRC.DE — Risk / Return Rank
ICGB.DE
ASRC.DE
ICGB.DE vs. ASRC.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 BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF (ASRC.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 | ASRC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.33 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.52 | 4.07 | -0.55 |
| Martin ratioReturn relative to average drawdown | 9.25 | 11.99 | -2.74 |
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Drawdowns
ICGB.DE vs. ASRC.DE - Drawdown Comparison
The maximum ICGB.DE drawdown since its inception was -13.36%, smaller than the maximum ASRC.DE drawdown of -15.63%. Use the drawdown chart below to compare losses from any high point for ICGB.DE and ASRC.DE.
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Drawdown Indicators
| ICGB.DE | ASRC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.36% | -15.63% | +2.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -2.97% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -11.17% | -12.90% | +1.73% |
Max Drawdown (5Y)Largest decline over 5 years | -13.36% | -15.63% | +2.27% |
Current DrawdownCurrent decline from peak | -1.82% | -0.79% | -1.03% |
Average DrawdownAverage peak-to-trough decline | -6.42% | -6.16% | -0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 1.01% | +0.05% |
Volatility
ICGB.DE vs. ASRC.DE - Volatility Comparison
The current volatility for iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) is 1.34%, while BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF (ASRC.DE) has a volatility of 1.51%. This indicates that ICGB.DE experiences smaller price fluctuations and is considered to be less risky than ASRC.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 | ASRC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 1.51% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 3.71% | 5.17% | -1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.38% | 6.83% | -1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.64% | 9.25% | -2.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.91% | 9.11% | -1.20% |
ICGB.DE vs. ASRC.DE - Expense Ratio Comparison
ICGB.DE has a 0.35% expense ratio, which is higher than ASRC.DE's 0.25% expense ratio.
Dividends
ICGB.DE vs. ASRC.DE - Dividend Comparison
ICGB.DE's dividend yield for the trailing twelve months is around 1.69%, while ASRC.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ASRC.DE BNP Paribas Easy JPM ESG EMBI Global Diversified Composite UCITS ETF | 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) | 1.69% | 1.92% | 2.22% | 2.58% | 2.80% | 2.71% | 2.63% | 0.95% |
Frequently Asked Questions
ICGB.DE and ASRC.DE have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ASRC.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ASRC.DE is cheaper with a 0.25% expense ratio, compared with 0.35% for ICGB.DE.
ICGB.DE tracks Bloomberg China Treasury + Policy Bank Index, while ASRC.DE tracks JP Morgan ESG EMBI Global Diversified. They also come from different issuers: iShares and BNP Paribas. Their fees differ too: 0.35% for ICGB.DE and 0.25% for ASRC.DE.
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