IUSP.DE vs. ICGB.DE
IUSP.DE (iShares US Property Yield UCITS ETF) and ICGB.DE (iShares China CNY Bond UCITS ETF USD (Dist)) are both Emerging Markets Bonds funds from iShares - IUSP.DE tracks the JPM GBI-EM Global Diversified TR USD while ICGB.DE tracks the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, IUSP.DE returned 2.28%/yr vs 3.70%/yr for ICGB.DE. At a 0.33 correlation, their price movements are largely independent. IUSP.DE charges 0.40%/yr vs 0.35%/yr for ICGB.DE.
Performance
IUSP.DE vs. ICGB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IUSP.DE achieves a 3.96% return, which is significantly lower than ICGB.DE's 8.29% return.
IUSP.DE
- 1D
- -0.30%
- 1M
- -0.03%
- 6M
- 2.15%
- YTD
- 3.96%
- 1Y
- 8.57%
- 3Y*
- 4.83%
- 5Y*
- 2.28%
- 10Y*
- 1.33%
ICGB.DE
- 1D
- 0.00%
- 1M
- 1.24%
- 6M
- 6.21%
- YTD
- 8.29%
- 1Y
- 8.81%
- 3Y*
- 5.26%
- 5Y*
- 3.70%
- 10Y*
- —
IUSP.DE vs. ICGB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IUSP.DE iShares US Property Yield UCITS ETF | 3.96% | 4.73% | 3.11% | 7.78% | -5.48% | -3.07% | -7.05% | 1.39% |
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 8.29% | -7.16% | 11.36% | -2.27% | 1.10% | 17.31% | 0.08% | -10.15% |
Correlation
The correlation between IUSP.DE and ICGB.DE is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | 0.33 |
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Return for Risk
IUSP.DE vs. ICGB.DE — Risk / Return Rank
IUSP.DE
ICGB.DE
IUSP.DE vs. ICGB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares US Property Yield UCITS ETF (IUSP.DE) and iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.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.
| IUSP.DE | ICGB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.31 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 3.17 | -0.99 |
| Martin ratioReturn relative to average drawdown | 7.85 | 8.39 | -0.55 |
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Drawdowns
IUSP.DE vs. ICGB.DE - Drawdown Comparison
The maximum IUSP.DE drawdown since its inception was -26.69%, which is greater than ICGB.DE's maximum drawdown of -13.36%. Use the drawdown chart below to compare losses from any high point for IUSP.DE and ICGB.DE.
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Drawdown Indicators
| IUSP.DE | ICGB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.69% | -13.36% | -13.33% |
Max Drawdown (1Y)Largest decline over 1 year | -3.91% | -2.77% | -1.14% |
Max Drawdown (3Y)Largest decline over 3 years | -7.25% | -11.17% | +3.92% |
Max Drawdown (5Y)Largest decline over 5 years | -10.19% | -13.36% | +3.17% |
Max Drawdown (10Y)Largest decline over 10 years | -19.75% | — | — |
Current DrawdownCurrent decline from peak | -0.67% | -1.42% | +0.75% |
Average DrawdownAverage peak-to-trough decline | -11.51% | -6.39% | -5.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 1.04% | +0.05% |
Volatility
IUSP.DE vs. ICGB.DE - Volatility Comparison
iShares US Property Yield UCITS ETF (IUSP.DE) has a higher volatility of 1.40% compared to iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) at 1.06%. This indicates that IUSP.DE's price experiences larger fluctuations and is considered to be riskier than ICGB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUSP.DE | ICGB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 1.06% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 4.88% | 3.58% | +1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.73% | 5.32% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.18% | 6.63% | +0.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.41% | 7.89% | +0.52% |
IUSP.DE vs. ICGB.DE - Expense Ratio Comparison
IUSP.DE has a 0.40% expense ratio, which is higher than ICGB.DE's 0.35% expense ratio.
Dividends
IUSP.DE vs. ICGB.DE - Dividend Comparison
IUSP.DE's dividend yield for the trailing twelve months is around 5.56%, more than ICGB.DE's 1.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 1.68% | 1.92% | 2.22% | 2.58% | 2.80% | 2.71% | 2.63% | 0.95% | 0.00% | 0.00% | 0.00% | 0.00% |
IUSP.DE iShares US Property Yield UCITS ETF | 5.56% | 5.59% | 5.43% | 5.04% | 5.54% | 4.42% | 5.26% | 5.19% | 5.53% | 5.45% | 5.29% | 3.39% |
Frequently Asked Questions
IUSP.DE and ICGB.DE have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICGB.DE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICGB.DE is cheaper with a 0.35% expense ratio, compared with 0.40% for IUSP.DE.
IUSP.DE tracks JPM GBI-EM Global Diversified TR USD, while ICGB.DE tracks Bloomberg China Treasury + Policy Bank Index. Their fees differ too: 0.40% for IUSP.DE and 0.35% for ICGB.DE.
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