IGEA.L vs. CBND.L
IGEA.L (iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist)) and CBND.L (Goldman Sachs Access China Government Bond UCITS ETF USD (Dist)) are both Government Bonds funds - IGEA.L tracks the iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) while CBND.L tracks the FTSE Goldman Sachs China Government Bond Index. Both are passively managed. Over the past 5 years, IGEA.L returned -0.49%/yr vs 2.85%/yr for CBND.L. A 0.52 correlation means they provide meaningful diversification when combined. IGEA.L charges 0.50%/yr vs 0.24%/yr for CBND.L.
Performance
IGEA.L vs. CBND.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IGEA.L achieves a -5.98% return, which is significantly lower than CBND.L's 4.87% return.
IGEA.L
- 1D
- -0.23%
- 1M
- -0.62%
- 6M
- -5.73%
- YTD
- -5.98%
- 1Y
- -6.63%
- 3Y*
- 0.73%
- 5Y*
- -0.49%
- 10Y*
- 1.01%
CBND.L
- 1D
- 0.05%
- 1M
- 0.02%
- 6M
- 4.64%
- YTD
- 4.87%
- 1Y
- 7.44%
- 3Y*
- 5.57%
- 5Y*
- 2.85%
- 10Y*
- —
IGEA.L vs. CBND.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IGEA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) | -5.98% | 5.84% | 1.57% | 4.77% | -7.79% | -4.40% | 9.11% | 2.16% |
CBND.L Goldman Sachs Access China Government Bond UCITS ETF USD (Dist) | 4.87% | 5.04% | 4.67% | 1.28% | -5.17% | 7.61% | 8.70% | 3.08% |
Correlation
The correlation between IGEA.L and CBND.L is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2019 | 0.52 |
The correlation between IGEA.L and CBND.L has been stable across timeframes, ranging from 0.47 to 0.53 - a consistent structural relationship.
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
IGEA.L vs. CBND.L — Risk / Return Rank
IGEA.L
CBND.L
IGEA.L vs. CBND.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) (IGEA.L) and Goldman Sachs Access China Government Bond UCITS ETF USD (Dist) (CBND.L). 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.
| IGEA.L | CBND.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.48 | ||
| Sortino ratioReturn per unit of downside risk | -5.03 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.47 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 7.45 | -8.22 |
| Martin ratioReturn relative to average drawdown | -1.46 | 18.48 | -19.94 |
Loading charts...
Drawdowns
IGEA.L vs. CBND.L - Drawdown Comparison
The maximum IGEA.L drawdown since its inception was -21.51%, which is greater than CBND.L's maximum drawdown of -11.48%. Use the drawdown chart below to compare losses from any high point for IGEA.L and CBND.L.
Loading charts...
Drawdown Indicators
| IGEA.L | CBND.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.51% | -11.48% | -10.03% |
Max Drawdown (1Y)Largest decline over 1 year | -8.59% | -0.99% | -7.60% |
Max Drawdown (3Y)Largest decline over 3 years | -8.59% | -3.66% | -4.93% |
Max Drawdown (5Y)Largest decline over 5 years | -18.81% | -11.48% | -7.33% |
Max Drawdown (10Y)Largest decline over 10 years | -21.51% | — | — |
Current DrawdownCurrent decline from peak | -7.77% | -0.21% | -7.56% |
Average DrawdownAverage peak-to-trough decline | -5.94% | -2.80% | -3.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.53% | 0.40% | +4.13% |
Volatility
IGEA.L vs. CBND.L - Volatility Comparison
iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) (IGEA.L) has a higher volatility of 1.16% compared to Goldman Sachs Access China Government Bond UCITS ETF USD (Dist) (CBND.L) at 0.89%. This indicates that IGEA.L's price experiences larger fluctuations and is considered to be riskier than CBND.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IGEA.L | CBND.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 0.89% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 5.25% | 2.58% | +2.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.06% | 3.11% | +2.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.40% | 5.02% | +1.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.33% | 4.94% | +1.39% |
IGEA.L vs. CBND.L - Expense Ratio Comparison
IGEA.L has a 0.50% expense ratio, which is higher than CBND.L's 0.24% expense ratio.
Dividends
IGEA.L vs. CBND.L - Dividend Comparison
IGEA.L's dividend yield for the trailing twelve months is around 1.78%, less than CBND.L's 2.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBND.L Goldman Sachs Access China Government Bond UCITS ETF USD (Dist) | 2.04% | 2.20% | 2.45% | 2.54% | 2.72% | 2.52% | 1.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IGEA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) | 1.78% | 3.24% | 3.07% | 2.87% | 2.96% | 2.42% | 2.80% | 2.46% | 2.57% | 2.02% | 3.01% | 1.18% |
Frequently Asked Questions
IGEA.L and CBND.L have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBND.L is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBND.L is cheaper with a 0.24% expense ratio, compared with 0.50% for IGEA.L.
IGEA.L tracks iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist), while CBND.L tracks FTSE Goldman Sachs China Government Bond Index. They also come from different issuers: iShares and Goldman Sachs. Their fees differ too: 0.50% for IGEA.L and 0.24% for CBND.L.
Find the right allocation for IGEA.L and CBND.L
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