PICB vs. CBON
Compare and contrast key facts about Invesco International Corporate Bond ETF (PICB) and VanEck Vectors ChinaAMC China Bond ETF (CBON).
PICB and CBON are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PICB is a passively managed fund by Invesco that tracks the performance of the S&P International Corporate Bond Index. It was launched on Jun 3, 2010. CBON is a passively managed fund by VanEck that tracks the performance of the ChinaBond China High Quality Bond Index. It was launched on Nov 10, 2014. Both PICB and CBON are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PICB or CBON.
Key characteristics
| PICB | CBON | |
|---|---|---|
| YTD Return | -0.05% | 2.40% |
| 1Y Return | 9.56% | 5.43% |
| 3Y Return (Ann) | -5.67% | -0.59% |
| 5Y Return (Ann) | -1.43% | 2.99% |
| 10Y Return (Ann) | -0.63% | 1.93% |
| Sharpe Ratio | 1.04 | 1.13 |
| Sortino Ratio | 1.54 | 1.70 |
| Omega Ratio | 1.19 | 1.21 |
| Calmar Ratio | 0.32 | 0.55 |
| Martin Ratio | 2.92 | 6.03 |
| Ulcer Index | 2.96% | 0.88% |
| Daily Std Dev | 8.29% | 4.74% |
| Max Drawdown | -37.24% | -14.13% |
| Current Drawdown | -19.83% | -4.81% |
Correlation
The correlation between PICB and CBON is 0.28, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
PICB vs. CBON - Performance Comparison
In the year-to-date period, PICB achieves a -0.05% return, which is significantly lower than CBON's 2.40% return. Over the past 10 years, PICB has underperformed CBON with an annualized return of -0.63%, while CBON has yielded a comparatively higher 1.93% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PICB vs. CBON - Expense Ratio Comparison
Both PICB and CBON have an expense ratio of 0.50%.
Risk-Adjusted Performance
PICB vs. CBON - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco International Corporate Bond ETF (PICB) and VanEck Vectors ChinaAMC China Bond ETF (CBON). 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.
Dividends
PICB vs. CBON - Dividend Comparison
PICB's dividend yield for the trailing twelve months is around 2.97%, more than CBON's 2.10% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PICB Invesco International Corporate Bond ETF | 2.97% | 2.25% | 1.64% | 1.33% | 1.21% | 1.43% | 1.70% | 1.47% | 2.20% | 2.38% | 2.65% | 2.73% |
CBON VanEck Vectors ChinaAMC China Bond ETF | 2.10% | 3.01% | 2.70% | 3.05% | 2.88% | 3.88% | 3.40% | 3.33% | 3.25% | 2.78% | 0.28% | 0.00% |
Drawdowns
PICB vs. CBON - Drawdown Comparison
The maximum PICB drawdown since its inception was -37.24%, which is greater than CBON's maximum drawdown of -14.13%. Use the drawdown chart below to compare losses from any high point for PICB and CBON. For additional features, visit the drawdowns tool.
Volatility
PICB vs. CBON - Volatility Comparison
Invesco International Corporate Bond ETF (PICB) has a higher volatility of 2.46% compared to VanEck Vectors ChinaAMC China Bond ETF (CBON) at 1.94%. This indicates that PICB's price experiences larger fluctuations and is considered to be riskier than CBON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.