ICGB.DE vs. XQUE.DE
ICGB.DE (iShares China CNY Bond UCITS ETF USD (Dist)) and XQUE.DE (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged) are both Emerging Markets Bonds funds - ICGB.DE tracks the Bloomberg China Treasury + Policy Bank Index while XQUE.DE tracks the iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted (EUR Hedged). Both are passively managed. Over the past 5 years, ICGB.DE returned 3.70%/yr vs -2.72%/yr for XQUE.DE. At a correlation of -0.16, they often move in opposite directions. ICGB.DE charges 0.35%/yr vs 0.50%/yr for XQUE.DE.
Performance
ICGB.DE vs. XQUE.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ICGB.DE achieves a 8.29% return, which is significantly higher than XQUE.DE's -0.71% 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*
- —
XQUE.DE
- 1D
- 0.12%
- 1M
- -0.95%
- 6M
- -0.36%
- YTD
- -0.71%
- 1Y
- 3.96%
- 3Y*
- 2.34%
- 5Y*
- -2.72%
- 10Y*
- —
ICGB.DE vs. XQUE.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% |
XQUE.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged | -0.71% | 8.45% | -2.21% | 4.90% | -19.86% | -2.86% | 5.15% | 2.16% |
Correlation
The correlation between ICGB.DE and XQUE.DE is -0.22, 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 | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.22 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | -0.16 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ICGB.DE vs. XQUE.DE — Risk / Return Rank
ICGB.DE
XQUE.DE
ICGB.DE vs. XQUE.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 Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged (XQUE.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 | XQUE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.14 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 0.96 | +2.21 |
| Martin ratioReturn relative to average drawdown | 8.39 | 2.74 | +5.65 |
Loading charts...
Drawdowns
ICGB.DE vs. XQUE.DE - Drawdown Comparison
The maximum ICGB.DE drawdown since its inception was -13.36%, smaller than the maximum XQUE.DE drawdown of -28.45%. Use the drawdown chart below to compare losses from any high point for ICGB.DE and XQUE.DE.
Loading charts...
Drawdown Indicators
| ICGB.DE | XQUE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.36% | -28.45% | +15.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -4.13% | +1.36% |
Max Drawdown (3Y)Largest decline over 3 years | -11.17% | -8.80% | -2.37% |
Max Drawdown (5Y)Largest decline over 5 years | -13.36% | -28.06% | +14.70% |
Current DrawdownCurrent decline from peak | -1.42% | -14.01% | +12.59% |
Average DrawdownAverage peak-to-trough decline | -6.39% | -10.73% | +4.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.44% | -0.40% |
Volatility
ICGB.DE vs. XQUE.DE - Volatility Comparison
The current volatility for iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) is 1.06%, while Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged (XQUE.DE) has a volatility of 1.45%. This indicates that ICGB.DE experiences smaller price fluctuations and is considered to be less risky than XQUE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ICGB.DE | XQUE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 1.45% | -0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 3.58% | 4.24% | -0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.32% | 5.26% | +0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.63% | 8.36% | -1.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.89% | 8.93% | -1.04% |
ICGB.DE vs. XQUE.DE - Expense Ratio Comparison
ICGB.DE has a 0.35% expense ratio, which is lower than XQUE.DE's 0.50% expense ratio.
Dividends
ICGB.DE vs. XQUE.DE - Dividend Comparison
ICGB.DE's dividend yield for the trailing twelve months is around 1.68%, less than XQUE.DE's 4.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
XQUE.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF EUR Hedged | 4.48% | 4.55% | 4.62% | 4.12% | 7.39% | 3.89% | 10.60% | 4.37% | 1.26% |
Frequently Asked Questions
ICGB.DE and XQUE.DE have a correlation of -0.22, 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 XQUE.DE.
ICGB.DE tracks Bloomberg China Treasury + Policy Bank Index, while XQUE.DE tracks iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted (EUR Hedged). They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.35% for ICGB.DE and 0.50% for XQUE.DE.
Find the right allocation for ICGB.DE and XQUE.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer