ICGB.DE vs. IS0S.DE
ICGB.DE (iShares China CNY Bond UCITS ETF USD (Dist)) and IS0S.DE (iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist)) are both Emerging Markets Bonds funds from iShares - ICGB.DE tracks the Bloomberg China Treasury + Policy Bank Index while IS0S.DE tracks the Bloomberg Emerging Markets Asia Local Currency Govt Country Capped Index. Both are passively managed. Over the past 5 years, ICGB.DE returned 3.70%/yr vs 0.14%/yr for IS0S.DE. A 0.62 correlation means they provide meaningful diversification when combined. ICGB.DE charges 0.35%/yr vs 0.50%/yr for IS0S.DE.
Performance
ICGB.DE vs. IS0S.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 IS0S.DE's -3.63% 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*
- —
IS0S.DE
- 1D
- -0.01%
- 1M
- 0.42%
- 6M
- -2.57%
- YTD
- -3.63%
- 1Y
- -5.43%
- 3Y*
- 0.01%
- 5Y*
- 0.14%
- 10Y*
- 0.69%
ICGB.DE vs. IS0S.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% |
IS0S.DE iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) | -3.63% | -5.90% | 7.58% | 1.14% | -1.88% | 3.53% | -0.48% | 2.31% |
Correlation
The correlation between ICGB.DE and IS0S.DE is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | 0.62 |
The correlation between ICGB.DE and IS0S.DE has been stable across timeframes, ranging from 0.53 to 0.62 - a consistent structural relationship.
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Return for Risk
ICGB.DE vs. IS0S.DE — Risk / Return Rank
ICGB.DE
IS0S.DE
ICGB.DE vs. IS0S.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 Emerging Asia Local Govt Bond UCITS ETF USD (Dist) (IS0S.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 | IS0S.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.67 | ||
| Sortino ratioReturn per unit of downside risk | +3.73 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.85 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | -0.69 | +3.86 |
| Martin ratioReturn relative to average drawdown | 8.39 | -1.24 | +9.64 |
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Drawdowns
ICGB.DE vs. IS0S.DE - Drawdown Comparison
The maximum ICGB.DE drawdown since its inception was -13.36%, smaller than the maximum IS0S.DE drawdown of -30.09%. Use the drawdown chart below to compare losses from any high point for ICGB.DE and IS0S.DE.
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Drawdown Indicators
| ICGB.DE | IS0S.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.36% | -30.09% | +16.73% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -7.85% | +5.08% |
Max Drawdown (3Y)Largest decline over 3 years | -11.17% | -12.92% | +1.75% |
Max Drawdown (5Y)Largest decline over 5 years | -13.36% | -12.92% | -0.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.46% | — |
Current DrawdownCurrent decline from peak | -1.42% | -11.28% | +9.86% |
Average DrawdownAverage peak-to-trough decline | -6.39% | -9.54% | +3.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 4.36% | -3.32% |
Volatility
ICGB.DE vs. IS0S.DE - Volatility Comparison
The current volatility for iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) is 1.06%, while iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) (IS0S.DE) has a volatility of 1.23%. This indicates that ICGB.DE experiences smaller price fluctuations and is considered to be less risky than IS0S.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 | IS0S.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 1.23% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 3.58% | 4.02% | -0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.32% | 5.43% | -0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.63% | 6.19% | +0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.89% | 10.36% | -2.47% |
ICGB.DE vs. IS0S.DE - Expense Ratio Comparison
ICGB.DE has a 0.35% expense ratio, which is lower than IS0S.DE's 0.50% expense ratio.
Dividends
ICGB.DE vs. IS0S.DE - Dividend Comparison
ICGB.DE's dividend yield for the trailing twelve months is around 1.68%, less than IS0S.DE's 1.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% |
IS0S.DE iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) | 1.78% | 3.49% | 2.94% | 2.89% | 2.96% | 2.30% | 3.05% | 2.44% | 2.50% | 2.19% | 2.90% | 1.15% |
Frequently Asked Questions
ICGB.DE and IS0S.DE have a correlation of 0.53, 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 IS0S.DE.
ICGB.DE tracks Bloomberg China Treasury + Policy Bank Index, while IS0S.DE tracks Bloomberg Emerging Markets Asia Local Currency Govt Country Capped Index. Their fees differ too: 0.35% for ICGB.DE and 0.50% for IS0S.DE.
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