MWOE.DE vs. CYBE.AS

Last updated Jun 5, 2026

MWOE.DE (Amundi MSCI World UCITS ETF - USD Dist) and CYBE.AS (iShares China CNY Bond UCITS ETF EUR Hedged Acc) are both exchange-traded funds - MWOE.DE is a Global Equities fund tracking the MSCI World, while CYBE.AS is a Emerging Markets Bonds fund tracking the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 3 years, MWOE.DE returned 17.43%/yr vs 5.12%/yr for CYBE.AS. At a 0.04 correlation, their price movements are largely independent. MWOE.DE charges 0.12%/yr vs 0.40%/yr for CYBE.AS.

Performance

MWOE.DE vs. CYBE.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi MSCI World UCITS ETF - USD Dist (MWOE.DE) and iShares China CNY Bond UCITS ETF EUR Hedged Acc (CYBE.AS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MWOE.DE achieves a 10.64% return, which is significantly higher than CYBE.AS's 1.79% return.

MWOE.DE

• 1D: -0.02%
• 1M: 3.66%
• YTD: 10.64%
• 6M: 10.70%
• 1Y: 23.42%
• 3Y*: 17.43%
• 5Y*: —
• 10Y*: —

CYBE.AS

• 1D: 0.07%
• 1M: 0.64%
• YTD: 1.79%
• 6M: 1.88%
• 1Y: 1.70%
• 3Y*: 5.12%
• 5Y*: 3.85%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MWOE.DE vs. CYBE.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MWOE.DE Amundi MSCI World UCITS ETF - USD Dist	10.64%	7.87%	25.72%	19.87%	0.54%
CYBE.AS iShares China CNY Bond UCITS ETF EUR Hedged Acc	1.79%	0.34%	10.03%	5.64%	0.96%

Correlation

The correlation between MWOE.DE and CYBE.AS is -0.04, 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	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (All Time) Calculated using the full available price history since Jul 6, 2022	0.04

Return for Risk

MWOE.DE vs. CYBE.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MWOE.DE

MWOE.DE Risk / Return Rank: 69
MWOE.DE Sharpe Ratio Rank: 65
MWOE.DE Sortino Ratio Rank: 65
MWOE.DE Omega Ratio Rank: 67
MWOE.DE Calmar Ratio Rank: 71
MWOE.DE Martin Ratio Rank: 74

CYBE.AS

CYBE.AS Risk / Return Rank: 24
CYBE.AS Sharpe Ratio Rank: 21
CYBE.AS Sortino Ratio Rank: 20
CYBE.AS Omega Ratio Rank: 21
CYBE.AS Calmar Ratio Rank: 33
CYBE.AS Martin Ratio Rank: 24

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MWOE.DE vs. CYBE.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI World UCITS ETF - USD Dist (MWOE.DE) and iShares China CNY Bond UCITS ETF EUR Hedged Acc (CYBE.AS). 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.

	MWOE.DE	CYBE.AS	Difference
Sharpe ratio: Return per unit of total volatility	2.12	0.69	+1.43
Sortino ratio: Return per unit of downside risk	2.97	1.04	+1.93
Omega ratio: Gain probability vs. loss probability	1.40	1.14	+0.26
Calmar ratio: Return relative to maximum drawdown	3.49	1.58	+1.91
Martin ratio: Return relative to average drawdown	13.79	3.03	+10.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MWOE.DE vs. CYBE.AS - Sharpe Ratio Comparison

The current MWOE.DE Sharpe Ratio is 2.12, which is higher than the CYBE.AS Sharpe Ratio of 0.69. The chart below compares the historical Sharpe Ratios of MWOE.DE and CYBE.AS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MWOE.DE	CYBE.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	0.69	+1.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	1.78	-0.58

Drawdowns

MWOE.DE vs. CYBE.AS - Drawdown Comparison

The maximum MWOE.DE drawdown since its inception was -21.83%, which is greater than CYBE.AS's maximum drawdown of -1.81%. Use the drawdown chart below to compare losses from any high point for MWOE.DE and CYBE.AS.

Drawdown Indicators

	MWOE.DE	CYBE.AS	Difference
Max Drawdown Largest peak-to-trough decline	-21.83%	-1.81%	-20.02%
Max Drawdown (1Y) Largest decline over 1 year	-6.74%	-1.09%	-5.65%
Max Drawdown (3Y) Largest decline over 3 years	-21.83%	-1.81%	-20.02%
Max Drawdown (5Y) Largest decline over 5 years	—	-1.81%	—
Current Drawdown Current decline from peak	-0.33%	-0.62%	+0.29%
Average Drawdown Average peak-to-trough decline	-3.61%	-0.42%	-3.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	0.58%	+1.13%

Volatility

MWOE.DE vs. CYBE.AS - Volatility Comparison

Amundi MSCI World UCITS ETF - USD Dist (MWOE.DE) has a higher volatility of 2.63% compared to iShares China CNY Bond UCITS ETF EUR Hedged Acc (CYBE.AS) at 1.41%. This indicates that MWOE.DE's price experiences larger fluctuations and is considered to be riskier than CYBE.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MWOE.DE	CYBE.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.63%	1.41%	+1.22%
Volatility (6M) Calculated over the trailing 6-month period	7.67%	2.16%	+5.51%
Volatility (1Y) Calculated over the trailing 1-year period	11.08%	2.51%	+8.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.41%	2.22%	+11.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.41%	2.20%	+11.21%

MWOE.DE vs. CYBE.AS - Expense Ratio Comparison

MWOE.DE has a 0.12% expense ratio, which is lower than CYBE.AS's 0.40% expense ratio.

Dividends

MWOE.DE vs. CYBE.AS - Dividend Comparison

MWOE.DE's dividend yield for the trailing twelve months is around 0.95%, while CYBE.AS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
CYBE.AS iShares China CNY Bond UCITS ETF EUR Hedged Acc	0.00%	0.00%	0.00%	0.00%
MWOE.DE Amundi MSCI World UCITS ETF - USD Dist	0.95%	1.33%	1.20%	0.58%

Frequently Asked Questions

Can I hold both MWOE.DE and CYBE.AS in my portfolio?

MWOE.DE and CYBE.AS have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MWOE.DE or CYBE.AS?

On fees, MWOE.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MWOE.DE or CYBE.AS?

MWOE.DE is cheaper with a 0.12% expense ratio, compared with 0.40% for CYBE.AS.

What is the main difference between MWOE.DE and CYBE.AS?

MWOE.DE is categorized as Global Equities, while CYBE.AS is Emerging Markets Bonds. MWOE.DE tracks MSCI World, while CYBE.AS tracks Bloomberg China Treasury + Policy Bank Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.12% for MWOE.DE and 0.40% for CYBE.AS.