ICGB.DE vs. NQSE.DE
ICGB.DE (iShares China CNY Bond UCITS ETF USD (Dist)) and NQSE.DE (iShares NASDAQ 100 UCITS ETF) are both exchange-traded funds - ICGB.DE is a Emerging Markets Bonds fund tracking the Bloomberg China Treasury + Policy Bank Index, while NQSE.DE is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, ICGB.DE returned 3.84%/yr vs 12.85%/yr for NQSE.DE. At a correlation of -0.09, they often move in opposite directions. ICGB.DE charges 0.35%/yr vs 0.33%/yr for NQSE.DE.
Performance
ICGB.DE vs. NQSE.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 lower than NQSE.DE's 14.72% 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*
- —
NQSE.DE
- 1D
- 0.35%
- 1M
- -3.37%
- 6M
- 16.19%
- YTD
- 14.72%
- 1Y
- 26.71%
- 3Y*
- 22.71%
- 5Y*
- 12.85%
- 10Y*
- —
ICGB.DE vs. NQSE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 7.85% | -7.16% | 11.36% | -2.27% | 1.10% | 17.31% | 0.08% | -10.15% |
NQSE.DE iShares NASDAQ 100 UCITS ETF | 14.72% | 18.19% | 24.02% | 52.15% | -36.27% | 27.38% | 45.18% | 9.60% |
Correlation
The correlation between ICGB.DE and NQSE.DE is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | -0.09 |
The correlation between ICGB.DE and NQSE.DE shifts across timeframes, from -0.19 (5 years) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ICGB.DE vs. NQSE.DE — Risk / Return Rank
ICGB.DE
NQSE.DE
ICGB.DE vs. NQSE.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 NASDAQ 100 UCITS ETF (NQSE.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 | NQSE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.27 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.52 | 2.24 | +1.28 |
| Martin ratioReturn relative to average drawdown | 9.25 | 7.50 | +1.74 |
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Drawdowns
ICGB.DE vs. NQSE.DE - Drawdown Comparison
The maximum ICGB.DE drawdown since its inception was -13.36%, smaller than the maximum NQSE.DE drawdown of -37.62%. Use the drawdown chart below to compare losses from any high point for ICGB.DE and NQSE.DE.
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Drawdown Indicators
| ICGB.DE | NQSE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.36% | -37.62% | +24.26% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -11.88% | +9.11% |
Max Drawdown (3Y)Largest decline over 3 years | -11.17% | -22.41% | +11.24% |
Max Drawdown (5Y)Largest decline over 5 years | -13.36% | -37.62% | +24.26% |
Current DrawdownCurrent decline from peak | -1.82% | -3.42% | +1.60% |
Average DrawdownAverage peak-to-trough decline | -6.42% | -8.51% | +2.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 3.55% | -2.49% |
Volatility
ICGB.DE vs. NQSE.DE - Volatility Comparison
The current volatility for iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) is 1.34%, while iShares NASDAQ 100 UCITS ETF (NQSE.DE) has a volatility of 7.00%. This indicates that ICGB.DE experiences smaller price fluctuations and is considered to be less risky than NQSE.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 | NQSE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 7.00% | -5.66% |
Volatility (6M)Calculated over the trailing 6-month period | 3.71% | 13.51% | -9.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.38% | 17.21% | -11.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.64% | 21.11% | -14.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.91% | 21.59% | -13.68% |
ICGB.DE vs. NQSE.DE - Expense Ratio Comparison
ICGB.DE has a 0.35% expense ratio, which is higher than NQSE.DE's 0.33% expense ratio.
Dividends
ICGB.DE vs. NQSE.DE - Dividend Comparison
ICGB.DE's dividend yield for the trailing twelve months is around 1.69%, while NQSE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% |
NQSE.DE iShares NASDAQ 100 UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ICGB.DE and NQSE.DE have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NQSE.DE is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NQSE.DE is cheaper with a 0.33% expense ratio, compared with 0.35% for ICGB.DE.
ICGB.DE is categorized as Emerging Markets Bonds, while NQSE.DE is Nasdaq-100. ICGB.DE tracks Bloomberg China Treasury + Policy Bank Index, while NQSE.DE tracks NASDAQ-100 Index. Their fees differ too: 0.35% for ICGB.DE and 0.33% for NQSE.DE.
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