ICGB.DE vs. CEB0.DE
ICGB.DE (iShares China CNY Bond UCITS ETF USD (Dist)) and CEB0.DE (iShares China CNY Bond UCITS ETF EUR Hedged Dist) are both Emerging Markets Bonds funds from iShares - ICGB.DE tracks the Bloomberg China Treasury + Policy Bank Index while CEB0.DE tracks the Bloomberg Barclays China Treasury + Policy Bank Index. Both are passively managed. Over the past year, ICGB.DE returned 9.80% vs 1.29% for CEB0.DE. At a 0.23 correlation, their price movements are largely independent. ICGB.DE charges 0.35%/yr vs 0.40%/yr for CEB0.DE.
Performance
ICGB.DE vs. CEB0.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ICGB.DE achieves a 7.85% return, which is significantly higher than CEB0.DE's 1.97% 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*
- —
CEB0.DE
- 1D
- 0.00%
- 1M
- 0.20%
- 6M
- 1.89%
- YTD
- 1.97%
- 1Y
- 1.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ICGB.DE vs. CEB0.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 7.85% | -7.16% | 8.55% |
CEB0.DE iShares China CNY Bond UCITS ETF EUR Hedged Dist | 1.97% | 0.43% | 6.85% |
Correlation
The correlation between ICGB.DE and CEB0.DE is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2024 | 0.23 |
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Return for Risk
ICGB.DE vs. CEB0.DE — Risk / Return Rank
ICGB.DE
CEB0.DE
ICGB.DE vs. CEB0.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 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.
| ICGB.DE | CEB0.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.08 | ||
| Sortino ratioReturn per unit of downside risk | +1.56 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.14 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.52 | 1.16 | +2.36 |
| Martin ratioReturn relative to average drawdown | 9.25 | 2.44 | +6.81 |
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Drawdowns
ICGB.DE vs. CEB0.DE - Drawdown Comparison
The maximum ICGB.DE drawdown since its inception was -13.36%, 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 ICGB.DE and CEB0.DE.
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Drawdown Indicators
| ICGB.DE | CEB0.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.36% | -1.83% | -11.53% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -1.11% | -1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -11.17% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -13.36% | — | — |
Current DrawdownCurrent decline from peak | -1.82% | -0.06% | -1.76% |
Average DrawdownAverage peak-to-trough decline | -6.42% | -0.37% | -6.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 0.48% | +0.58% |
Volatility
ICGB.DE vs. CEB0.DE - Volatility Comparison
iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) has a higher volatility of 1.34% compared to iShares China CNY Bond UCITS ETF EUR Hedged Dist (CEB0.DE) at 0.57%. This indicates that ICGB.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.
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Volatility by Period
| ICGB.DE | CEB0.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 0.57% | +0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 3.71% | 1.48% | +2.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.38% | 1.75% | +3.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.64% | 2.02% | +4.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.91% | 2.02% | +5.89% |
ICGB.DE vs. CEB0.DE - Expense Ratio Comparison
ICGB.DE has a 0.35% expense ratio, which is lower than CEB0.DE's 0.40% expense ratio.
Dividends
ICGB.DE vs. CEB0.DE - Dividend Comparison
ICGB.DE's dividend yield for the trailing twelve months is around 1.69%, less than CEB0.DE's 1.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% | 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 CEB0.DE have a correlation of 0.21, 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 0.40% for CEB0.DE.
ICGB.DE tracks Bloomberg China Treasury + Policy Bank Index, while CEB0.DE tracks Bloomberg Barclays China Treasury + Policy Bank Index. Their fees differ too: 0.35% for ICGB.DE and 0.40% for CEB0.DE.
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