JMBP.L vs. CYGB.L
JMBP.L (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist)) and CYGB.L (iShares China CNY Bond UCITS ETF GBP Hedged (Dist)) are both Emerging Markets Bonds funds - JMBP.L tracks the JP Morgan Emerging Markets Risk-Aware Bond (GBP Hedged) while CYGB.L tracks the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, JMBP.L returned 0.61%/yr vs 5.44%/yr for CYGB.L. At a 0.03 correlation, their price movements are largely independent. JMBP.L charges 0.39%/yr vs 0.40%/yr for CYGB.L.
Performance
JMBP.L vs. CYGB.L - Performance Comparison
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Returns By Period
In the year-to-date period, JMBP.L achieves a 1.61% return, which is significantly lower than CYGB.L's 3.55% return.
JMBP.L
- 1D
- 0.14%
- 1M
- -0.62%
- 6M
- 2.04%
- YTD
- 1.61%
- 1Y
- 9.38%
- 3Y*
- 6.94%
- 5Y*
- 0.61%
- 10Y*
- —
CYGB.L
- 1D
- 0.10%
- 1M
- 0.74%
- 6M
- 3.19%
- YTD
- 3.55%
- 1Y
- 3.60%
- 3Y*
- 6.74%
- 5Y*
- 5.44%
- 10Y*
- —
JMBP.L vs. CYGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JMBP.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) | 1.61% | 13.12% | 1.60% | 8.38% | -17.58% | 0.75% |
CYGB.L iShares China CNY Bond UCITS ETF GBP Hedged (Dist) | 3.55% | 2.20% | 11.38% | 7.14% | 2.11% | 2.84% |
Correlation
The correlation between JMBP.L and CYGB.L is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2021 | 0.03 |
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Return for Risk
JMBP.L vs. CYGB.L — Risk / Return Rank
JMBP.L
CYGB.L
JMBP.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 GBP Hedged (dist) (JMBP.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.
| JMBP.L | CYGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.28 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 5.18 | -3.17 |
| Martin ratioReturn relative to average drawdown | 8.56 | 11.91 | -3.36 |
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Drawdowns
JMBP.L vs. CYGB.L - Drawdown Comparison
The maximum JMBP.L drawdown since its inception was -27.19%, 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 JMBP.L and CYGB.L.
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Drawdown Indicators
| JMBP.L | CYGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.19% | -1.56% | -25.63% |
Max Drawdown (1Y)Largest decline over 1 year | -4.53% | -0.69% | -3.84% |
Max Drawdown (3Y)Largest decline over 3 years | -7.61% | -1.56% | -6.05% |
Max Drawdown (5Y)Largest decline over 5 years | -26.88% | -1.56% | -25.32% |
Current DrawdownCurrent decline from peak | -0.62% | 0.00% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -9.76% | -0.24% | -9.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 0.30% | +0.76% |
Volatility
JMBP.L vs. CYGB.L - Volatility Comparison
JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) (JMBP.L) has a higher volatility of 1.09% compared to iShares China CNY Bond UCITS ETF GBP Hedged (Dist) (CYGB.L) at 0.59%. This indicates that JMBP.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
| JMBP.L | CYGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 0.59% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 2.22% | +2.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.47% | 2.71% | +2.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.49% | 2.37% | +6.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.45% | 2.33% | +8.12% |
JMBP.L vs. CYGB.L - Expense Ratio Comparison
JMBP.L has a 0.39% expense ratio, which is lower than CYGB.L's 0.40% expense ratio.
Dividends
JMBP.L vs. CYGB.L - Dividend Comparison
JMBP.L's dividend yield for the trailing twelve months is around 5.83%, more than CYGB.L's 1.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CYGB.L iShares China CNY Bond UCITS ETF GBP Hedged (Dist) | 1.70% | 1.84% | 2.13% | 2.38% | 2.68% | 2.21% | 0.00% |
JMBP.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) | 5.83% | 5.61% | 5.83% | 5.24% | 5.16% | 3.70% | 4.42% |
Frequently Asked Questions
JMBP.L and CYGB.L have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JMBP.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JMBP.L is cheaper with a 0.39% expense ratio, compared with 0.40% for CYGB.L.
JMBP.L tracks JP Morgan Emerging Markets Risk-Aware Bond (GBP Hedged), 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 JMBP.L and 0.40% for CYGB.L.
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