LYQS.DE vs. GASF.DE
LYQS.DE (Amundi USD Emerging Markets Government Bond UCITS ETF (Dist)) and GASF.DE (Goldman Sachs Access China Government Bond UCITS ETF USD Inc) are both Emerging Markets Bonds funds - LYQS.DE tracks the J.P. Morgan EMBI Global Diversified Select Index while GASF.DE tracks the FTSE Goldman Sachs China Government Bond Index. Both are passively managed. Over the past 5 years, LYQS.DE returned 1.43%/yr vs 3.49%/yr for GASF.DE. At a 0.38 correlation, their price movements are largely independent. LYQS.DE charges 0.25%/yr vs 0.24%/yr for GASF.DE.
Performance
LYQS.DE vs. GASF.DE - Performance Comparison
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Returns By Period
In the year-to-date period, LYQS.DE achieves a 4.61% return, which is significantly lower than GASF.DE's 7.80% return.
LYQS.DE
- 1D
- 0.10%
- 1M
- 0.68%
- 6M
- 3.34%
- YTD
- 4.61%
- 1Y
- 10.90%
- 3Y*
- 5.80%
- 5Y*
- 1.43%
- 10Y*
- 1.37%
GASF.DE
- 1D
- 0.00%
- 1M
- 1.11%
- 6M
- 5.78%
- YTD
- 7.80%
- 1Y
- 8.64%
- 3Y*
- 5.05%
- 5Y*
- 3.49%
- 10Y*
- —
LYQS.DE vs. GASF.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
LYQS.DE Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) | 4.61% | 0.04% | 6.43% | 5.45% | -11.25% | 5.76% | -5.23% | 2.24% |
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc | 7.80% | -6.82% | 10.85% | -2.28% | 0.91% | 16.54% | -0.76% | -8.22% |
Correlation
The correlation between LYQS.DE and GASF.DE is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2019 | 0.38 |
Over the past year, LYQS.DE and GASF.DE have become more correlated (0.59) than their long-term average of 0.38, meaning their price movements have been converging.
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Return for Risk
LYQS.DE vs. GASF.DE — Risk / Return Rank
LYQS.DE
GASF.DE
LYQS.DE vs. GASF.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) (LYQS.DE) and Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.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.
| LYQS.DE | GASF.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.30 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.88 | 2.53 | +1.35 |
| Martin ratioReturn relative to average drawdown | 11.90 | 7.67 | +4.23 |
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Drawdowns
LYQS.DE vs. GASF.DE - Drawdown Comparison
The maximum LYQS.DE drawdown since its inception was -33.51%, which is greater than GASF.DE's maximum drawdown of -13.75%. Use the drawdown chart below to compare losses from any high point for LYQS.DE and GASF.DE.
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Drawdown Indicators
| LYQS.DE | GASF.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.51% | -13.75% | -19.76% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -3.40% | +0.60% |
Max Drawdown (3Y)Largest decline over 3 years | -12.78% | -11.00% | -1.78% |
Max Drawdown (5Y)Largest decline over 5 years | -16.18% | -13.75% | -2.43% |
Max Drawdown (10Y)Largest decline over 10 years | -25.61% | — | — |
Current DrawdownCurrent decline from peak | -1.60% | -1.66% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -12.89% | -6.05% | -6.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 1.12% | -0.21% |
Volatility
LYQS.DE vs. GASF.DE - Volatility Comparison
The current volatility for Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) (LYQS.DE) is 1.07%, while Goldman Sachs Access China Government Bond UCITS ETF USD Inc (GASF.DE) has a volatility of 1.25%. This indicates that LYQS.DE experiences smaller price fluctuations and is considered to be less risky than GASF.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LYQS.DE | GASF.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.25% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.93% | 3.44% | +0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.82% | 5.31% | +0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.62% | 6.68% | +2.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.02% | 7.71% | +9.31% |
LYQS.DE vs. GASF.DE - Expense Ratio Comparison
LYQS.DE has a 0.25% expense ratio, which is higher than GASF.DE's 0.24% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
LYQS.DE vs. GASF.DE - Dividend Comparison
LYQS.DE's dividend yield for the trailing twelve months is around 5.12%, more than GASF.DE's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GASF.DE Goldman Sachs Access China Government Bond UCITS ETF USD Inc | 1.99% | 2.36% | 2.35% | 2.63% | 2.73% | 2.40% | 1.99% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LYQS.DE Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) | 5.12% | 5.36% | 3.57% | 6.06% | 6.00% | 4.33% | 4.48% | 5.10% | 5.08% | 5.40% | 5.15% | 6.61% |
Frequently Asked Questions
LYQS.DE and GASF.DE have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GASF.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GASF.DE is cheaper with a 0.24% expense ratio, compared with 0.25% for LYQS.DE.
LYQS.DE tracks J.P. Morgan EMBI Global Diversified Select Index, while GASF.DE tracks FTSE Goldman Sachs China Government Bond Index. They also come from different issuers: Amundi and Goldman Sachs. Their fees differ too: 0.25% for LYQS.DE and 0.24% for GASF.DE.
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