JMAB.L vs. CYGB.L
JMAB.L (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF) and CYGB.L (iShares China CNY Bond UCITS ETF GBP Hedged (Dist)) are both Emerging Markets Bonds funds - JMAB.L tracks the JPM EMBI Global Diversified TR USD while CYGB.L tracks the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, JMAB.L returned 1.79%/yr vs 5.42%/yr for CYGB.L. At a 0.01 correlation, their price movements are largely independent. JMAB.L charges 0.39%/yr vs 0.40%/yr for CYGB.L.
Performance
JMAB.L vs. CYGB.L - Performance Comparison
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Returns By Period
In the year-to-date period, JMAB.L achieves a 1.55% return, which is significantly lower than CYGB.L's 3.44% return.
JMAB.L
- 1D
- 0.29%
- 1M
- -1.04%
- 6M
- 1.28%
- YTD
- 1.55%
- 1Y
- 8.85%
- 3Y*
- 6.28%
- 5Y*
- 1.79%
- 10Y*
- —
CYGB.L
- 1D
- -0.17%
- 1M
- 0.46%
- 6M
- 3.08%
- YTD
- 3.44%
- 1Y
- 3.67%
- 3Y*
- 6.63%
- 5Y*
- 5.42%
- 10Y*
- —
JMAB.L vs. CYGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JMAB.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF | 1.55% | 5.64% | 3.61% | 3.51% | -6.11% | 5.71% |
CYGB.L iShares China CNY Bond UCITS ETF GBP Hedged (Dist) | 3.44% | 2.20% | 11.38% | 7.14% | 2.11% | 2.84% |
Correlation
The correlation between JMAB.L and CYGB.L is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2021 | 0.01 |
The correlation between JMAB.L and CYGB.L shifts across timeframes, from -0.10 (1 year) to 0.03 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
JMAB.L vs. CYGB.L — Risk / Return Rank
JMAB.L
CYGB.L
JMAB.L vs. CYGB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF (JMAB.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.
| JMAB.L | CYGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.28 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 5.28 | -3.27 |
| Martin ratioReturn relative to average drawdown | 5.40 | 12.15 | -6.75 |
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Drawdowns
JMAB.L vs. CYGB.L - Drawdown Comparison
The maximum JMAB.L drawdown since its inception was -31.26%, 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 JMAB.L and CYGB.L.
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Drawdown Indicators
| JMAB.L | CYGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.26% | -1.56% | -29.70% |
Max Drawdown (1Y)Largest decline over 1 year | -4.38% | -0.69% | -3.69% |
Max Drawdown (3Y)Largest decline over 3 years | -8.77% | -1.56% | -7.21% |
Max Drawdown (5Y)Largest decline over 5 years | -22.71% | -1.56% | -21.15% |
Current DrawdownCurrent decline from peak | -15.63% | -0.17% | -15.46% |
Average DrawdownAverage peak-to-trough decline | -23.31% | -0.24% | -23.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.64% | 0.29% | +1.35% |
Volatility
JMAB.L vs. CYGB.L - Volatility Comparison
JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF (JMAB.L) has a higher volatility of 1.35% compared to iShares China CNY Bond UCITS ETF GBP Hedged (Dist) (CYGB.L) at 0.59%. This indicates that JMAB.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
| JMAB.L | CYGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 0.59% | +0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 4.48% | 2.24% | +2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.96% | 2.72% | +3.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.72% | 2.38% | +15.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.91% | 2.33% | +16.58% |
JMAB.L vs. CYGB.L - Expense Ratio Comparison
JMAB.L has a 0.39% expense ratio, which is lower than CYGB.L's 0.40% expense ratio.
Dividends
JMAB.L vs. CYGB.L - Dividend Comparison
JMAB.L has not paid dividends to shareholders, while CYGB.L's dividend yield for the trailing twelve months is around 1.70%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CYGB.L iShares China CNY Bond UCITS ETF GBP Hedged (Dist) | 1.70% | 1.84% | 2.13% | 2.38% | 2.68% | 2.21% |
JMAB.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JMAB.L and CYGB.L have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JMAB.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JMAB.L is cheaper with a 0.39% expense ratio, compared with 0.40% for CYGB.L.
JMAB.L tracks JPM EMBI Global Diversified TR USD, while CYGB.L tracks Bloomberg China Treasury + Policy Bank Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.39% for JMAB.L and 0.40% for CYGB.L.
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