LYQS.DE vs. ICGB.DE
LYQS.DE (Amundi USD Emerging Markets Government Bond UCITS ETF (Dist)) and ICGB.DE (iShares China CNY Bond UCITS ETF USD (Dist)) are both Emerging Markets Bonds funds - LYQS.DE tracks the J.P. Morgan EMBI Global Diversified Select Index while ICGB.DE tracks the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, LYQS.DE returned 1.74%/yr vs 3.84%/yr for ICGB.DE. At a 0.38 correlation, their price movements are largely independent. LYQS.DE charges 0.25%/yr vs 0.35%/yr for ICGB.DE.
Performance
LYQS.DE vs. ICGB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, LYQS.DE achieves a 5.26% return, which is significantly lower than ICGB.DE's 7.85% return.
LYQS.DE
- 1D
- 0.17%
- 1M
- 2.22%
- 6M
- 5.27%
- YTD
- 5.26%
- 1Y
- 11.97%
- 3Y*
- 5.45%
- 5Y*
- 1.74%
- 10Y*
- 1.50%
ICGB.DE
- 1D
- -0.20%
- 1M
- 1.25%
- 6M
- 7.38%
- YTD
- 7.85%
- 1Y
- 9.80%
- 3Y*
- 4.28%
- 5Y*
- 3.84%
- 10Y*
- —
LYQS.DE vs. ICGB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
LYQS.DE Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) | 5.26% | 0.04% | 6.43% | 5.45% | -11.25% | 5.76% | -5.23% | 0.77% |
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 7.85% | -7.16% | 11.36% | -2.27% | 1.10% | 17.31% | 0.08% | -10.15% |
Correlation
The correlation between LYQS.DE and ICGB.DE is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | 0.38 |
The correlation between LYQS.DE and ICGB.DE shifts across timeframes, from 0.38 (5 years) to 0.57 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LYQS.DE vs. ICGB.DE — Risk / Return Rank
LYQS.DE
ICGB.DE
LYQS.DE vs. ICGB.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 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.
| LYQS.DE | ICGB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.34 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.26 | 3.52 | +0.74 |
| Martin ratioReturn relative to average drawdown | 13.30 | 9.25 | +4.06 |
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Drawdowns
LYQS.DE vs. ICGB.DE - Drawdown Comparison
The maximum LYQS.DE drawdown since its inception was -33.51%, 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 LYQS.DE and ICGB.DE.
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Drawdown Indicators
| LYQS.DE | ICGB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.51% | -13.36% | -20.15% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -2.77% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -12.78% | -11.17% | -1.61% |
Max Drawdown (5Y)Largest decline over 5 years | -16.18% | -13.36% | -2.82% |
Max Drawdown (10Y)Largest decline over 10 years | -25.61% | — | — |
Current DrawdownCurrent decline from peak | -0.99% | -1.82% | +0.83% |
Average DrawdownAverage peak-to-trough decline | -12.92% | -6.42% | -6.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 1.06% | -0.16% |
Volatility
LYQS.DE vs. ICGB.DE - Volatility Comparison
Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) (LYQS.DE) has a higher volatility of 1.48% compared to iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) at 1.34%. This indicates that LYQS.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
| LYQS.DE | ICGB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.34% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 4.08% | 3.71% | +0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.04% | 5.38% | +0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.63% | 6.64% | +2.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.02% | 7.91% | +9.11% |
LYQS.DE vs. ICGB.DE - Expense Ratio Comparison
LYQS.DE has a 0.25% expense ratio, which is lower than ICGB.DE's 0.35% expense ratio.
Dividends
LYQS.DE vs. ICGB.DE - Dividend Comparison
LYQS.DE's dividend yield for the trailing twelve months is around 5.09%, more than ICGB.DE's 1.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 1.69% | 1.92% | 2.22% | 2.58% | 2.80% | 2.71% | 2.63% | 0.95% | 0.00% | 0.00% | 0.00% | 0.00% |
LYQS.DE Amundi USD Emerging Markets Government Bond UCITS ETF (Dist) | 5.09% | 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 ICGB.DE have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LYQS.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LYQS.DE is cheaper with a 0.25% expense ratio, compared with 0.35% for ICGB.DE.
LYQS.DE tracks J.P. Morgan EMBI Global Diversified Select Index, while ICGB.DE tracks Bloomberg China Treasury + Policy Bank Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.25% for LYQS.DE and 0.35% for ICGB.DE.
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