INXG.L vs. CYGB.L
INXG.L (iShares £ Index-Linked Gilts UCITS ETF) and CYGB.L (iShares China CNY Bond UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - INXG.L is a Government Bonds fund tracking the Bloomberg UK Government Inflation-Linked Bond Index, while CYGB.L is a Emerging Markets Bonds fund tracking the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, INXG.L returned -8.92%/yr vs 5.44%/yr for CYGB.L. At a 0.05 correlation, their price movements are largely independent. INXG.L charges 0.10%/yr vs 0.40%/yr for CYGB.L.
Performance
INXG.L vs. CYGB.L - Performance Comparison
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Returns By Period
In the year-to-date period, INXG.L achieves a -0.73% return, which is significantly lower than CYGB.L's 3.55% return.
INXG.L
- 1D
- 0.65%
- 1M
- -0.64%
- 6M
- -2.62%
- YTD
- -0.73%
- 1Y
- 2.93%
- 3Y*
- -0.77%
- 5Y*
- -8.92%
- 10Y*
- -2.12%
CYGB.L
- 1D
- 0.10%
- 1M
- 0.74%
- 6M
- 3.19%
- YTD
- 3.55%
- 1Y
- 3.60%
- 3Y*
- 6.74%
- 5Y*
- 5.44%
- 10Y*
- —
INXG.L vs. CYGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
INXG.L iShares £ Index-Linked Gilts UCITS ETF | -0.73% | 1.10% | -8.60% | 0.16% | -34.28% | 13.50% |
CYGB.L iShares China CNY Bond UCITS ETF GBP Hedged (Dist) | 3.55% | 2.20% | 11.38% | 7.14% | 2.11% | 2.84% |
Correlation
The correlation between INXG.L and CYGB.L is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2021 | 0.05 |
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Return for Risk
INXG.L vs. CYGB.L — Risk / Return Rank
INXG.L
CYGB.L
INXG.L vs. CYGB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares £ Index-Linked Gilts UCITS ETF (INXG.L) and iShares China CNY Bond UCITS ETF GBP Hedged (Dist) (CYGB.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.
| INXG.L | CYGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.28 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.44 | 5.18 | -4.73 |
| Martin ratioReturn relative to average drawdown | 1.01 | 11.91 | -10.90 |
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Drawdowns
INXG.L vs. CYGB.L - Drawdown Comparison
The maximum INXG.L drawdown since its inception was -50.86%, which is greater than CYGB.L's maximum drawdown of -1.56%. Use the drawdown chart below to compare losses from any high point for INXG.L and CYGB.L.
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Drawdown Indicators
| INXG.L | CYGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.86% | -1.56% | -49.30% |
Max Drawdown (1Y)Largest decline over 1 year | -6.59% | -0.69% | -5.90% |
Max Drawdown (3Y)Largest decline over 3 years | -15.06% | -1.56% | -13.50% |
Max Drawdown (5Y)Largest decline over 5 years | -50.86% | -1.56% | -49.30% |
Max Drawdown (10Y)Largest decline over 10 years | -50.86% | — | — |
Current DrawdownCurrent decline from peak | -43.48% | 0.00% | -43.48% |
Average DrawdownAverage peak-to-trough decline | -12.07% | -0.24% | -11.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 0.30% | +2.59% |
Volatility
INXG.L vs. CYGB.L - Volatility Comparison
iShares £ Index-Linked Gilts UCITS ETF (INXG.L) has a higher volatility of 2.47% compared to iShares China CNY Bond UCITS ETF GBP Hedged (Dist) (CYGB.L) at 0.59%. This indicates that INXG.L's price experiences larger fluctuations and is considered to be riskier than CYGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INXG.L | CYGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.47% | 0.59% | +1.88% |
Volatility (6M)Calculated over the trailing 6-month period | 7.14% | 2.22% | +4.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.64% | 2.71% | +6.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.08% | 2.37% | +17.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.39% | 2.33% | +15.06% |
INXG.L vs. CYGB.L - Expense Ratio Comparison
INXG.L has a 0.10% expense ratio, which is lower than CYGB.L's 0.40% expense ratio.
Dividends
INXG.L vs. CYGB.L - Dividend Comparison
INXG.L's dividend yield for the trailing twelve months is around 7.62%, more than CYGB.L's 1.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CYGB.L iShares China CNY Bond UCITS ETF GBP Hedged (Dist) | 1.70% | 1.84% | 2.13% | 2.38% | 2.68% | 2.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
INXG.L iShares £ Index-Linked Gilts UCITS ETF | 7.62% | 7.23% | 5.77% | 0.43% | 0.00% | 0.00% | 0.61% | 1.36% | 1.95% | 1.28% | 0.65% | 1.94% |
Frequently Asked Questions
INXG.L and CYGB.L have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, INXG.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
INXG.L is cheaper with a 0.10% expense ratio, compared with 0.40% for CYGB.L.
INXG.L is categorized as Government Bonds, while CYGB.L is Emerging Markets Bonds. INXG.L tracks Bloomberg UK Government Inflation-Linked Bond Index, while CYGB.L tracks Bloomberg China Treasury + Policy Bank Index. Their fees differ too: 0.10% for INXG.L and 0.40% for CYGB.L.
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