ICGB.DE vs. SYBM.DE
ICGB.DE (iShares China CNY Bond UCITS ETF USD (Dist)) and SYBM.DE (SPDR Bloomberg Emerging Markets Local Bond UCITS ETF) are both Emerging Markets Bonds funds - ICGB.DE tracks the Bloomberg China Treasury + Policy Bank Index while SYBM.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond. Both are passively managed. Over the past 5 years, ICGB.DE returned 3.70%/yr vs 1.70%/yr for SYBM.DE. At a 0.38 correlation, their price movements are largely independent. ICGB.DE charges 0.35%/yr vs 0.55%/yr for SYBM.DE.
Performance
ICGB.DE vs. SYBM.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 SYBM.DE's 2.31% 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*
- —
SYBM.DE
- 1D
- -0.43%
- 1M
- 0.16%
- 6M
- 0.83%
- YTD
- 2.31%
- 1Y
- 5.08%
- 3Y*
- 3.58%
- 5Y*
- 1.70%
- 10Y*
- 1.31%
ICGB.DE vs. SYBM.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% |
SYBM.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 2.31% | 2.48% | 3.06% | 5.79% | -4.56% | -0.97% | -5.72% | 2.26% |
Correlation
The correlation between ICGB.DE and SYBM.DE is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | 0.38 |
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Return for Risk
ICGB.DE vs. SYBM.DE — Risk / Return Rank
ICGB.DE
SYBM.DE
ICGB.DE vs. SYBM.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 SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SYBM.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 | SYBM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.19 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 1.30 | +1.87 |
| Martin ratioReturn relative to average drawdown | 8.39 | 3.93 | +4.46 |
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Drawdowns
ICGB.DE vs. SYBM.DE - Drawdown Comparison
The maximum ICGB.DE drawdown since its inception was -13.36%, smaller than the maximum SYBM.DE drawdown of -31.70%. Use the drawdown chart below to compare losses from any high point for ICGB.DE and SYBM.DE.
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Drawdown Indicators
| ICGB.DE | SYBM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.36% | -31.70% | +18.34% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -3.90% | +1.13% |
Max Drawdown (3Y)Largest decline over 3 years | -11.17% | -7.60% | -3.57% |
Max Drawdown (5Y)Largest decline over 5 years | -13.36% | -8.64% | -4.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.37% | — |
Current DrawdownCurrent decline from peak | -1.42% | -5.31% | +3.89% |
Average DrawdownAverage peak-to-trough decline | -6.39% | -17.12% | +10.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.29% | -0.25% |
Volatility
ICGB.DE vs. SYBM.DE - Volatility Comparison
iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) has a higher volatility of 1.06% compared to SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SYBM.DE) at 0.96%. This indicates that ICGB.DE's price experiences larger fluctuations and is considered to be riskier than SYBM.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 | SYBM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 0.96% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.58% | 4.21% | -0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.32% | 5.06% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.63% | 6.68% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.89% | 7.65% | +0.24% |
ICGB.DE vs. SYBM.DE - Expense Ratio Comparison
ICGB.DE has a 0.35% expense ratio, which is lower than SYBM.DE's 0.55% expense ratio.
Dividends
ICGB.DE vs. SYBM.DE - Dividend Comparison
ICGB.DE's dividend yield for the trailing twelve months is around 1.68%, less than SYBM.DE's 4.98% 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% |
SYBM.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 4.98% | 5.01% | 4.74% | 4.21% | 4.29% | 3.90% | 4.12% | 4.34% | 4.13% | 5.01% | 4.30% | 5.26% |
Frequently Asked Questions
ICGB.DE and SYBM.DE have a correlation of 0.34, 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 0.55% for SYBM.DE.
ICGB.DE tracks Bloomberg China Treasury + Policy Bank Index, while SYBM.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond. They also come from different issuers: iShares and State Street. Their fees differ too: 0.35% for ICGB.DE and 0.55% for SYBM.DE.
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