ICGB.DE vs. SEAD.DE
ICGB.DE (iShares China CNY Bond UCITS ETF USD (Dist)) and SEAD.DE (UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (EUR Hedged) Dist) are both Emerging Markets Bonds funds - ICGB.DE tracks the Bloomberg China Treasury + Policy Bank Index while SEAD.DE tracks the JP Morgan USD Emerging Markets Diversified 3% capped 1-5 (EUR Hedged). Both are passively managed. Over the past 5 years, ICGB.DE returned 3.84%/yr vs 0.99%/yr for SEAD.DE. At a correlation of -0.13, they often move in opposite directions. ICGB.DE charges 0.35%/yr vs 0.38%/yr for SEAD.DE.
Performance
ICGB.DE vs. SEAD.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 SEAD.DE's 1.42% 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*
- —
SEAD.DE
- 1D
- 0.00%
- 1M
- 0.11%
- 6M
- 1.42%
- YTD
- 1.42%
- 1Y
- 5.06%
- 3Y*
- 6.12%
- 5Y*
- 0.99%
- 10Y*
- —
ICGB.DE vs. SEAD.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% | -0.39% |
SEAD.DE UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (EUR Hedged) Dist | 1.42% | 7.68% | 5.50% | 5.69% | -12.29% | -0.78% | 1.78% | 1.13% |
Correlation
The correlation between ICGB.DE and SEAD.DE is -0.18, 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 | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.18 |
Correlation (All Time) Calculated using the full available price history since Nov 29, 2019 | -0.13 |
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Return for Risk
ICGB.DE vs. SEAD.DE — Risk / Return Rank
ICGB.DE
SEAD.DE
ICGB.DE vs. SEAD.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 UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (EUR Hedged) Dist (SEAD.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 | SEAD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.36 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.52 | 2.42 | +1.10 |
| Martin ratioReturn relative to average drawdown | 9.25 | 9.89 | -0.64 |
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Drawdowns
ICGB.DE vs. SEAD.DE - Drawdown Comparison
The maximum ICGB.DE drawdown since its inception was -13.36%, smaller than the maximum SEAD.DE drawdown of -17.98%. Use the drawdown chart below to compare losses from any high point for ICGB.DE and SEAD.DE.
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Drawdown Indicators
| ICGB.DE | SEAD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.36% | -17.98% | +4.62% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -2.08% | -0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -11.17% | -2.40% | -8.77% |
Max Drawdown (5Y)Largest decline over 5 years | -13.36% | -17.98% | +4.62% |
Current DrawdownCurrent decline from peak | -1.82% | -0.40% | -1.42% |
Average DrawdownAverage peak-to-trough decline | -6.42% | -5.65% | -0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 0.51% | +0.55% |
Volatility
ICGB.DE vs. SEAD.DE - Volatility Comparison
iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) has a higher volatility of 1.34% compared to UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (EUR Hedged) Dist (SEAD.DE) at 0.59%. This indicates that ICGB.DE's price experiences larger fluctuations and is considered to be riskier than SEAD.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 | SEAD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 0.59% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 3.71% | 2.36% | +1.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.38% | 2.85% | +2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.64% | 4.30% | +2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.91% | 4.81% | +3.10% |
ICGB.DE vs. SEAD.DE - Expense Ratio Comparison
ICGB.DE has a 0.35% expense ratio, which is lower than SEAD.DE's 0.38% expense ratio.
Dividends
ICGB.DE vs. SEAD.DE - Dividend Comparison
ICGB.DE's dividend yield for the trailing twelve months is around 1.69%, less than SEAD.DE's 6.88% yield.
| 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% |
SEAD.DE UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (EUR Hedged) Dist | 6.88% | 4.97% | 6.21% | 4.80% | 4.53% | 4.02% | 2.40% | 0.00% |
Frequently Asked Questions
ICGB.DE and SEAD.DE have a correlation of -0.18, 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 0.38% for SEAD.DE.
ICGB.DE tracks Bloomberg China Treasury + Policy Bank Index, while SEAD.DE tracks JP Morgan USD Emerging Markets Diversified 3% capped 1-5 (EUR Hedged). They also come from different issuers: iShares and UBS. Their fees differ too: 0.35% for ICGB.DE and 0.38% for SEAD.DE.
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