ITEB.L vs. CNYB.L
ITEB.L (iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist)) and CNYB.L (iShares China CNY Bond UCITS ETF USD (Dist)) are both exchange-traded funds - ITEB.L is a Government Bonds fund tracking the iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist), while CNYB.L is a Emerging Markets Bonds fund tracking the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 3 years, ITEB.L returned 5.84%/yr vs 4.85%/yr for CNYB.L. At a correlation of -0.16, they often move in opposite directions.
Performance
ITEB.L vs. CNYB.L - Performance Comparison
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Returns By Period
In the year-to-date period, ITEB.L achieves a 0.50% return, which is significantly lower than CNYB.L's 5.08% return.
ITEB.L
- 1D
- -0.18%
- 1M
- -0.57%
- 6M
- -0.22%
- YTD
- 0.50%
- 1Y
- 2.87%
- 3Y*
- 5.84%
- 5Y*
- —
- 10Y*
- —
CNYB.L
- 1D
- 0.23%
- 1M
- -0.13%
- 6M
- 4.82%
- YTD
- 5.08%
- 1Y
- 7.11%
- 3Y*
- 4.85%
- 5Y*
- 3.58%
- 10Y*
- —
ITEB.L vs. CNYB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ITEB.L iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist) | 0.50% | 5.10% | 6.13% | 10.70% | 0.86% |
CNYB.L iShares China CNY Bond UCITS ETF USD (Dist) | 5.08% | -2.20% | 6.65% | -4.09% | -4.03% |
Correlation
The correlation between ITEB.L and CNYB.L is -0.24, 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 | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.18 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2022 | -0.16 |
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Return for Risk
ITEB.L vs. CNYB.L — Risk / Return Rank
ITEB.L
CNYB.L
ITEB.L vs. CNYB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist) (ITEB.L) and iShares China CNY Bond UCITS ETF USD (Dist) (CNYB.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.
| ITEB.L | CNYB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.21 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.71 | 2.57 | -1.86 |
| Martin ratioReturn relative to average drawdown | 2.22 | 6.13 | -3.91 |
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Drawdowns
ITEB.L vs. CNYB.L - Drawdown Comparison
The maximum ITEB.L drawdown since its inception was -5.97%, smaller than the maximum CNYB.L drawdown of -25.82%. Use the drawdown chart below to compare losses from any high point for ITEB.L and CNYB.L.
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Drawdown Indicators
| ITEB.L | CNYB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.97% | -25.82% | +19.85% |
Max Drawdown (1Y)Largest decline over 1 year | -4.03% | -2.75% | -1.28% |
Max Drawdown (3Y)Largest decline over 3 years | -4.03% | -9.03% | +5.00% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.44% | — |
Current DrawdownCurrent decline from peak | -1.61% | -7.25% | +5.64% |
Average DrawdownAverage peak-to-trough decline | -1.24% | -12.53% | +11.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 1.16% | +0.13% |
Volatility
ITEB.L vs. CNYB.L - Volatility Comparison
The current volatility for iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist) (ITEB.L) is 1.12%, while iShares China CNY Bond UCITS ETF USD (Dist) (CNYB.L) has a volatility of 1.68%. This indicates that ITEB.L experiences smaller price fluctuations and is considered to be less risky than CNYB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITEB.L | CNYB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.68% | -0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 4.19% | 4.69% | -0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.81% | 6.29% | -1.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.19% | 7.66% | -1.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.19% | 11.48% | -5.29% |
Dividends
ITEB.L vs. CNYB.L - Dividend Comparison
ITEB.L's dividend yield for the trailing twelve months is around 2.87%, more than CNYB.L's 1.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CNYB.L iShares China CNY Bond UCITS ETF USD (Dist) | 1.72% | 1.89% | 2.24% | 2.55% | 2.72% | 2.74% | 2.65% | 0.72% |
ITEB.L iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist) | 2.87% | 2.81% | 2.58% | 2.25% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ITEB.L and CNYB.L have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ITEB.L is categorized as Government Bonds, while CNYB.L is Emerging Markets Bonds. ITEB.L tracks iShares V PLC - iShares Italy Govt Bond UCITS ETF EUR (Dist), while CNYB.L tracks Bloomberg China Treasury + Policy Bank Index.
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