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SEMC.L vs. CYBU.AS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SEMC.L vs. CYBU.AS

Last updated Jun 5, 2026

SEMC.L (UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis) and CYBU.AS (iShares China CNY Bond UCITS ETF USD Hedged (Dist)) are both Emerging Markets Bonds funds - SEMC.L tracks the JPM EMBI Global Diversified TR USD while CYBU.AS tracks the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, SEMC.L returned 4.04%/yr vs 6.81%/yr for CYBU.AS. A 0.66 correlation means they provide meaningful diversification when combined. SEMC.L charges 0.42%/yr vs 0.40%/yr for CYBU.AS.

Performance

SEMC.L vs. CYBU.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis (SEMC.L) and iShares China CNY Bond UCITS ETF USD Hedged (Dist) (CYBU.AS). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

SEMC.L is traded in GBp, while CYBU.AS is traded in USD. To make them comparable, the CYBU.AS values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, SEMC.L achieves a 2.30% return, which is significantly lower than CYBU.AS's 2.94% return.

SEMC.L

1D
0.03%
1M
1.31%
YTD
2.30%
6M
2.17%
1Y
9.29%
3Y*
5.66%
5Y*
4.04%
10Y*
—

CYBU.AS

1D
0.05%
1M
1.66%
YTD
2.94%
6M
2.10%
1Y
4.63%
3Y*
4.29%
5Y*
6.81%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SEMC.L vs. CYBU.AS - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
SEMC.L
UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis		2.30%2.50%9.09%2.06%0.58%1.54%-0.46%-0.90%
CYBU.AS
iShares China CNY Bond UCITS ETF USD Hedged (Dist)		2.94%-4.83%13.45%2.42%14.74%3.27%-1.92%-1.19%

Correlation

The correlation between SEMC.L and CYBU.AS is 0.67, 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

0.67

Correlation (3Y)
Calculated over the trailing 3-year period

0.68

Correlation (5Y)
Calculated over the trailing 5-year period

0.66

Correlation (All Time)
Calculated using the full available price history since Nov 5, 2019

0.66

The correlation between SEMC.L and CYBU.AS has been stable across timeframes, ranging from 0.66 to 0.68 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis

iShares China CNY Bond UCITS ETF USD Hedged (Dist)

Often compared with SEMC.L:
SEMC.L vs. UC44.LSEMC.L vs. UC04.LSEMC.L vs. SBEM.LSEMC.L vs. UC63.LSEMC.L vs. EMDL.LSEMC.L vs. UBXX.LSEMC.L vs. SEMH.L
Often compared with CYBU.AS:
CYBU.AS vs. IBTU.LCYBU.AS vs. EUNM.DECYBU.AS vs. PPFB.DECYBU.AS vs. MWOE.DECYBU.AS vs. LYXD.DECYBU.AS vs. EUNL.DECYBU.AS vs. VEVE.AS

Return for Risk

SEMC.L vs. CYBU.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SEMC.L
SEMC.L Risk / Return Rank: 4949
Overall Rank
SEMC.L Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
SEMC.L Sortino Ratio Rank: 5050
Sortino Ratio Rank
SEMC.L Omega Ratio Rank: 4545
Omega Ratio Rank
SEMC.L Calmar Ratio Rank: 5555
Calmar Ratio Rank
SEMC.L Martin Ratio Rank: 4848
Martin Ratio Rank
CYBU.AS
CYBU.AS Risk / Return Rank: 5959
Overall Rank
CYBU.AS Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
CYBU.AS Sortino Ratio Rank: 4646
Sortino Ratio Rank
CYBU.AS Omega Ratio Rank: 4646
Omega Ratio Rank
CYBU.AS Calmar Ratio Rank: 8888
Calmar Ratio Rank
CYBU.AS Martin Ratio Rank: 6969
Martin Ratio Rank
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.

SEMC.L vs. CYBU.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis (SEMC.L) and iShares China CNY Bond UCITS ETF USD Hedged (Dist) (CYBU.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.

SEMC.LCYBU.ASDifference
Sharpe ratioReturn per unit of total volatility
1.61
0.66

+0.95

Sortino ratioReturn per unit of downside risk
2.43
0.98

+1.44

Omega ratioGain probability vs. loss probability

1.29

1.12

+0.17

Calmar ratioReturn relative to maximum drawdown

2.69

0.83

+1.86

Martin ratioReturn relative to average drawdown

7.88

2.16

+5.72

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SEMC.L vs. CYBU.AS - Sharpe Ratio Comparison

The current SEMC.L Sharpe Ratio is 1.61, which is higher than the CYBU.AS Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of SEMC.L and CYBU.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.

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Sharpe Ratios by Period

SEMC.LCYBU.ASDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.61

0.66

+0.95

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.53

0.77

-0.24

Sharpe Ratio (All Time)

Calculated using the full available price history

0.35

0.45

-0.10

Drawdowns

SEMC.L vs. CYBU.AS - Drawdown Comparison

The maximum SEMC.L drawdown since its inception was -12.52%, smaller than the maximum CYBU.AS drawdown of -20.35%. Use the drawdown chart below to compare losses from any high point for SEMC.L and CYBU.AS.

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Drawdown Indicators

SEMC.LCYBU.ASDifference

Max Drawdown

Largest peak-to-trough decline

-12.52%

-20.35%

+7.83%

Max Drawdown (1Y)

Largest decline over 1 year

-3.43%

-5.49%

+2.06%

Max Drawdown (3Y)

Largest decline over 3 years

-7.69%

-10.06%

+2.37%

Max Drawdown (5Y)

Largest decline over 5 years

-11.89%

-14.75%

+2.86%

Current Drawdown

Current decline from peak

-0.29%

-4.99%

+4.70%

Average Drawdown

Average peak-to-trough decline

-4.98%

-8.93%

+3.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.18%

2.13%

-0.95%

Volatility

SEMC.L vs. CYBU.AS - Volatility Comparison

The current volatility for UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis (SEMC.L) is 1.50%, while iShares China CNY Bond UCITS ETF USD Hedged (Dist) (CYBU.AS) has a volatility of 1.92%. This indicates that SEMC.L experiences smaller price fluctuations and is considered to be less risky than CYBU.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SEMC.LCYBU.ASDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.50%

1.92%

-0.42%

Volatility (6M)

Calculated over the trailing 6-month period

4.15%

5.19%

-1.04%

Volatility (1Y)

Calculated over the trailing 1-year period

5.74%

6.88%

-1.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.61%

8.72%

-1.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.18%

9.12%

-0.94%

SEMC.L vs. CYBU.AS - Expense Ratio Comparison

SEMC.L has a 0.42% expense ratio, which is higher than CYBU.AS's 0.40% expense ratio.

Dividends

SEMC.L vs. CYBU.AS - Dividend Comparison

SEMC.L's dividend yield for the trailing twelve months is around 5.78%, more than CYBU.AS's 1.84% yield.

PositionTTM20252024202320222021202020192018
CYBU.AS
iShares China CNY Bond UCITS ETF USD Hedged (Dist)		1.84%1.88%2.13%2.45%2.60%2.82%2.66%0.21%0.00%
SEMC.L
UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis		5.78%6.51%5.02%5.04%3.98%3.97%4.77%5.18%1.98%

Frequently Asked Questions

SEMC.L and CYBU.AS have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, CYBU.AS is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

CYBU.AS is cheaper with a 0.40% expense ratio, compared with 0.42% for SEMC.L.

SEMC.L tracks JPM EMBI Global Diversified TR USD, while CYBU.AS tracks Bloomberg China Treasury + Policy Bank Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.42% for SEMC.L and 0.40% for CYBU.AS.

Portfolio Optimizer

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