IS0S.DE vs. CGB.DE
IS0S.DE (iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist)) and CGB.DE (Xtrackers II Harvest China Government Bond UCITS ETF (Dist)) are both Emerging Markets Bonds funds - IS0S.DE tracks the Bloomberg Emerging Markets Asia Local Currency Govt Country Capped Index while CGB.DE tracks the FTSE Chinese Government and Policy Bank Bond 1-10 Years Capped Index. Both are passively managed. Over the past 10 years, IS0S.DE returned 1.09%/yr vs 2.48%/yr for CGB.DE. A 0.59 correlation means they provide meaningful diversification when combined. IS0S.DE charges 0.50%/yr vs 0.20%/yr for CGB.DE.
Performance
IS0S.DE vs. CGB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS0S.DE achieves a -1.86% return, which is significantly lower than CGB.DE's 8.00% return. Over the past 10 years, IS0S.DE has underperformed CGB.DE with an annualized return of 1.09%, while CGB.DE has yielded a comparatively higher 2.48% annualized return.
IS0S.DE
- 1D
- 0.11%
- 1M
- 1.98%
- 6M
- -2.06%
- YTD
- -1.86%
- 1Y
- -3.00%
- 3Y*
- 0.27%
- 5Y*
- 0.54%
- 10Y*
- 1.09%
CGB.DE
- 1D
- 0.40%
- 1M
- 1.32%
- 6M
- 7.77%
- YTD
- 8.00%
- 1Y
- 11.41%
- 3Y*
- 3.87%
- 5Y*
- 3.23%
- 10Y*
- 2.48%
IS0S.DE vs. CGB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS0S.DE iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) | -1.86% | -5.90% | 7.58% | 1.14% | -1.88% | 3.53% | -0.48% | 11.65% | 2.34% | -1.14% |
CGB.DE Xtrackers II Harvest China Government Bond UCITS ETF (Dist) | 8.00% | -6.58% | 9.93% | -2.82% | -0.10% | 15.85% | -0.38% | 4.86% | 4.94% | -7.90% |
Correlation
The correlation between IS0S.DE and CGB.DE is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jul 8, 2015 | 0.59 |
The correlation between IS0S.DE and CGB.DE has been stable across timeframes, ranging from 0.56 to 0.61 - a consistent structural relationship.
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Return for Risk
IS0S.DE vs. CGB.DE — Risk / Return Rank
IS0S.DE
CGB.DE
IS0S.DE vs. CGB.DE - 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) (IS0S.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.
| IS0S.DE | CGB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.53 | ||
| Sortino ratioReturn per unit of downside risk | -3.66 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.34 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 4.02 | -4.49 |
| Martin ratioReturn relative to average drawdown | -0.94 | 11.91 | -12.85 |
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Drawdowns
IS0S.DE vs. CGB.DE - Drawdown Comparison
The maximum IS0S.DE drawdown since its inception was -30.09%, which is greater than CGB.DE's maximum drawdown of -20.06%. Use the drawdown chart below to compare losses from any high point for IS0S.DE and CGB.DE.
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Drawdown Indicators
| IS0S.DE | CGB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.09% | -20.06% | -10.03% |
Max Drawdown (1Y)Largest decline over 1 year | -6.25% | -2.83% | -3.42% |
Max Drawdown (3Y)Largest decline over 3 years | -11.41% | -11.08% | -0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -11.41% | -13.94% | +2.53% |
Max Drawdown (10Y)Largest decline over 10 years | -16.46% | -14.64% | -1.82% |
Current DrawdownCurrent decline from peak | -9.65% | -0.94% | -8.71% |
Average DrawdownAverage peak-to-trough decline | -9.48% | -9.28% | -0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 0.96% | +2.23% |
Volatility
IS0S.DE vs. CGB.DE - Volatility Comparison
The current volatility for iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) (IS0S.DE) is 1.16%, while Xtrackers II Harvest China Government Bond UCITS ETF (Dist) (CGB.DE) has a volatility of 1.70%. This indicates that IS0S.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
| IS0S.DE | CGB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 1.70% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 4.03% | 4.01% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.28% | 5.81% | -0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.16% | 6.74% | -0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.36% | 11.06% | -0.70% |
IS0S.DE vs. CGB.DE - Expense Ratio Comparison
IS0S.DE has a 0.50% expense ratio, which is higher than CGB.DE's 0.20% expense ratio.
Dividends
IS0S.DE vs. CGB.DE - Dividend Comparison
IS0S.DE's dividend yield for the trailing twelve months is around 3.54%, more than CGB.DE's 2.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CGB.DE Xtrackers II Harvest China Government Bond UCITS ETF (Dist) | 2.00% | 2.40% | 2.37% | 2.97% | 4.40% | 2.17% | 2.15% | 2.56% | 0.72% | 2.64% | 0.38% | 0.00% |
IS0S.DE iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) | 3.54% | 3.49% | 2.94% | 2.89% | 2.96% | 2.30% | 3.05% | 2.44% | 2.50% | 2.19% | 2.90% | 1.15% |
Frequently Asked Questions
IS0S.DE and CGB.DE have a correlation of 0.57, 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 0.50% for IS0S.DE.
IS0S.DE tracks Bloomberg Emerging Markets Asia Local Currency Govt Country Capped Index, 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: 0.50% for IS0S.DE and 0.20% for CGB.DE.
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