NQSE.DE vs. ICGB.DE
NQSE.DE (iShares NASDAQ 100 UCITS ETF) and ICGB.DE (iShares China CNY Bond UCITS ETF USD (Dist)) are both exchange-traded funds - NQSE.DE is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while ICGB.DE is a Emerging Markets Bonds fund tracking the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, NQSE.DE returned 12.53%/yr vs 3.74%/yr for ICGB.DE. At a correlation of -0.09, they often move in opposite directions. NQSE.DE charges 0.33%/yr vs 0.35%/yr for ICGB.DE.
Performance
NQSE.DE vs. ICGB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, NQSE.DE achieves a 13.72% return, which is significantly higher than ICGB.DE's 8.51% return.
NQSE.DE
- 1D
- -0.81%
- 1M
- -3.78%
- 6M
- 14.79%
- YTD
- 13.72%
- 1Y
- 25.15%
- 3Y*
- 21.19%
- 5Y*
- 12.53%
- 10Y*
- —
ICGB.DE
- 1D
- 0.20%
- 1M
- 1.66%
- 6M
- 7.11%
- YTD
- 8.51%
- 1Y
- 9.27%
- 3Y*
- 5.17%
- 5Y*
- 3.74%
- 10Y*
- —
NQSE.DE vs. ICGB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NQSE.DE iShares NASDAQ 100 UCITS ETF | 13.72% | 18.19% | 24.02% | 52.15% | -36.27% | 27.38% | 45.18% | 9.60% |
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 8.51% | -7.16% | 11.36% | -2.27% | 1.10% | 17.31% | 0.08% | -10.15% |
Correlation
The correlation between NQSE.DE and ICGB.DE is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | -0.09 |
The correlation between NQSE.DE and ICGB.DE shifts across timeframes, from -0.19 (5 years) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NQSE.DE vs. ICGB.DE — Risk / Return Rank
NQSE.DE
ICGB.DE
NQSE.DE vs. ICGB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares NASDAQ 100 UCITS ETF (NQSE.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.
| NQSE.DE | ICGB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.32 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 3.33 | -1.22 |
| Martin ratioReturn relative to average drawdown | 6.91 | 8.75 | -1.84 |
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Drawdowns
NQSE.DE vs. ICGB.DE - Drawdown Comparison
The maximum NQSE.DE drawdown since its inception was -37.62%, 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 NQSE.DE and ICGB.DE.
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Drawdown Indicators
| NQSE.DE | ICGB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.62% | -13.36% | -24.26% |
Max Drawdown (1Y)Largest decline over 1 year | -11.88% | -2.77% | -9.11% |
Max Drawdown (3Y)Largest decline over 3 years | -22.41% | -11.17% | -11.24% |
Max Drawdown (5Y)Largest decline over 5 years | -37.62% | -13.36% | -24.26% |
Current DrawdownCurrent decline from peak | -4.26% | -1.22% | -3.04% |
Average DrawdownAverage peak-to-trough decline | -8.49% | -6.40% | -2.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.63% | 1.06% | +2.57% |
Volatility
NQSE.DE vs. ICGB.DE - Volatility Comparison
iShares NASDAQ 100 UCITS ETF (NQSE.DE) has a higher volatility of 5.88% compared to iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) at 1.31%. This indicates that NQSE.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
| NQSE.DE | ICGB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.88% | 1.31% | +4.57% |
Volatility (6M)Calculated over the trailing 6-month period | 13.79% | 3.60% | +10.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.60% | 5.40% | +12.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.18% | 6.63% | +14.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.59% | 7.90% | +13.69% |
NQSE.DE vs. ICGB.DE - Expense Ratio Comparison
NQSE.DE has a 0.33% expense ratio, which is lower than ICGB.DE's 0.35% expense ratio.
Dividends
NQSE.DE vs. ICGB.DE - Dividend Comparison
NQSE.DE has not paid dividends to shareholders, while ICGB.DE's dividend yield for the trailing twelve months is around 1.68%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 1.68% | 1.92% | 2.22% | 2.58% | 2.80% | 2.71% | 2.63% | 0.95% |
NQSE.DE iShares NASDAQ 100 UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NQSE.DE and ICGB.DE have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, NQSE.DE is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.
NQSE.DE is cheaper with a 0.33% expense ratio, compared with 0.35% for ICGB.DE.
NQSE.DE is categorized as Nasdaq-100, while ICGB.DE is Emerging Markets Bonds. NQSE.DE tracks NASDAQ-100 Index, while ICGB.DE tracks Bloomberg China Treasury + Policy Bank Index. Their fees differ too: 0.33% for NQSE.DE and 0.35% for ICGB.DE.
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