IS02.DE vs. CGB.DE
IS02.DE (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)) and CGB.DE (Xtrackers II Harvest China Government Bond UCITS ETF (Dist)) are both Emerging Markets Bonds funds - IS02.DE tracks the JP Morgan EMBI Global Core while CGB.DE tracks the FTSE Chinese Government and Policy Bank Bond 1-10 Years Capped Index. Both are passively managed. Over the past 5 years, IS02.DE returned 2.45%/yr vs 3.09%/yr for CGB.DE. At a 0.38 correlation, their price movements are largely independent. IS02.DE charges 0.45%/yr vs 0.20%/yr for CGB.DE.
Performance
IS02.DE vs. CGB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS02.DE achieves a 4.82% return, which is significantly lower than CGB.DE's 8.16% return.
IS02.DE
- 1D
- 0.00%
- 1M
- 0.67%
- 6M
- 4.05%
- YTD
- 4.82%
- 1Y
- 11.67%
- 3Y*
- 8.13%
- 5Y*
- 2.45%
- 10Y*
- —
CGB.DE
- 1D
- 0.35%
- 1M
- 1.57%
- 6M
- 7.02%
- YTD
- 8.16%
- 1Y
- 9.96%
- 3Y*
- 4.67%
- 5Y*
- 3.09%
- 10Y*
- 2.45%
IS02.DE vs. CGB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IS02.DE iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) | 4.82% | 1.10% | 11.83% | 6.71% | -13.12% | 5.72% | -0.46% |
CGB.DE Xtrackers II Harvest China Government Bond UCITS ETF (Dist) | 8.16% | -6.58% | 9.93% | -2.82% | -0.10% | 15.85% | 2.86% |
Correlation
The correlation between IS02.DE and CGB.DE is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Aug 14, 2020 | 0.38 |
The correlation between IS02.DE and CGB.DE shifts across timeframes, from 0.36 (5 years) to 0.52 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IS02.DE vs. CGB.DE — Risk / Return Rank
IS02.DE
CGB.DE
IS02.DE vs. CGB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (IS02.DE) and Xtrackers II Harvest China Government Bond UCITS ETF (Dist) (CGB.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.
| IS02.DE | CGB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.29 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.90 | 3.51 | +0.40 |
| Martin ratioReturn relative to average drawdown | 11.45 | 10.39 | +1.06 |
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Drawdowns
IS02.DE vs. CGB.DE - Drawdown Comparison
The maximum IS02.DE drawdown since its inception was -16.21%, smaller than the maximum CGB.DE drawdown of -20.06%. Use the drawdown chart below to compare losses from any high point for IS02.DE and CGB.DE.
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Drawdown Indicators
| IS02.DE | CGB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.21% | -20.06% | +3.85% |
Max Drawdown (1Y)Largest decline over 1 year | -3.00% | -2.83% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -12.85% | -11.08% | -1.77% |
Max Drawdown (5Y)Largest decline over 5 years | -16.21% | -13.94% | -2.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.64% | — |
Current DrawdownCurrent decline from peak | -1.09% | -0.79% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -5.82% | -9.26% | +3.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 0.96% | +0.06% |
Volatility
IS02.DE vs. CGB.DE - Volatility Comparison
The current volatility for iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (IS02.DE) is 1.64%, while Xtrackers II Harvest China Government Bond UCITS ETF (Dist) (CGB.DE) has a volatility of 1.78%. This indicates that IS02.DE experiences smaller price fluctuations and is considered to be less risky than CGB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS02.DE | CGB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.64% | 1.78% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 4.18% | 4.02% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.10% | 5.84% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.53% | 6.74% | +1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.35% | 11.06% | -2.71% |
IS02.DE vs. CGB.DE - Expense Ratio Comparison
IS02.DE has a 0.45% expense ratio, which is higher than CGB.DE's 0.20% expense ratio.
Dividends
IS02.DE vs. CGB.DE - Dividend Comparison
IS02.DE has not paid dividends to shareholders, while CGB.DE's dividend yield for the trailing twelve months is around 1.99%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CGB.DE Xtrackers II Harvest China Government Bond UCITS ETF (Dist) | 1.99% | 2.40% | 2.37% | 2.97% | 4.40% | 2.17% | 2.15% | 2.56% | 0.72% | 2.64% | 0.38% |
IS02.DE iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IS02.DE and CGB.DE have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CGB.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CGB.DE is cheaper with a 0.20% expense ratio, compared with 0.45% for IS02.DE.
IS02.DE tracks JP Morgan EMBI Global Core, while CGB.DE tracks FTSE Chinese Government and Policy Bank Bond 1-10 Years Capped Index. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.45% for IS02.DE and 0.20% for CGB.DE.
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