SEML.L vs. CNYB.L
SEML.L (iShares J.P. Morgan EM Local Government Bond UCITS ETF) and CNYB.L (iShares China CNY Bond UCITS ETF USD (Dist)) are both Emerging Markets Bonds funds from iShares - SEML.L tracks the JPM GBI-EM Global Diversified TR USD while CNYB.L tracks the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, SEML.L returned 2.11%/yr vs 3.58%/yr for CNYB.L. At a 0.37 correlation, their price movements are largely independent. SEML.L charges 0.50%/yr vs 0.35%/yr for CNYB.L.
Performance
SEML.L vs. CNYB.L - Performance Comparison
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Returns By Period
In the year-to-date period, SEML.L achieves a 0.87% return, which is significantly lower than CNYB.L's 5.09% return.
SEML.L
- 1D
- 0.09%
- 1M
- -1.55%
- 6M
- 0.10%
- YTD
- 0.87%
- 1Y
- 6.67%
- 3Y*
- 4.46%
- 5Y*
- 2.11%
- 10Y*
- 1.79%
CNYB.L
- 1D
- 0.24%
- 1M
- -0.35%
- 6M
- 4.32%
- YTD
- 5.09%
- 1Y
- 7.12%
- 3Y*
- 4.85%
- 5Y*
- 3.58%
- 10Y*
- —
SEML.L vs. CNYB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SEML.L iShares J.P. Morgan EM Local Government Bond UCITS ETF | 0.87% | 10.31% | -1.20% | 5.42% | -0.23% | -9.48% | -1.55% | -3.91% |
CNYB.L iShares China CNY Bond UCITS ETF USD (Dist) | 5.09% | -2.20% | 6.65% | -4.09% | 6.21% | 9.69% | -19.80% | 0.53% |
Correlation
The correlation between SEML.L and CNYB.L is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | 0.37 |
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Return for Risk
SEML.L vs. CNYB.L — Risk / Return Rank
SEML.L
CNYB.L
SEML.L vs. CNYB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.L) and iShares China CNY Bond UCITS ETF USD (Dist) (CNYB.L). 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.
| SEML.L | CNYB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.21 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 2.58 | -1.19 |
| Martin ratioReturn relative to average drawdown | 3.87 | 6.11 | -2.24 |
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Drawdowns
SEML.L vs. CNYB.L - Drawdown Comparison
The maximum SEML.L drawdown since its inception was -46.67%, which is greater than CNYB.L's maximum drawdown of -25.82%. Use the drawdown chart below to compare losses from any high point for SEML.L and CNYB.L.
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Drawdown Indicators
| SEML.L | CNYB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.67% | -25.82% | -20.85% |
Max Drawdown (1Y)Largest decline over 1 year | -4.78% | -2.75% | -2.03% |
Max Drawdown (3Y)Largest decline over 3 years | -4.78% | -9.03% | +4.25% |
Max Drawdown (5Y)Largest decline over 5 years | -11.11% | -15.44% | +4.33% |
Max Drawdown (10Y)Largest decline over 10 years | -21.24% | — | — |
Current DrawdownCurrent decline from peak | -12.68% | -7.24% | -5.44% |
Average DrawdownAverage peak-to-trough decline | -26.70% | -12.52% | -14.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | 1.16% | +0.56% |
Volatility
SEML.L vs. CNYB.L - Volatility Comparison
iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.L) has a higher volatility of 1.36% compared to iShares China CNY Bond UCITS ETF USD (Dist) (CNYB.L) at 1.24%. This indicates that SEML.L's price experiences larger fluctuations and is considered to be riskier than CNYB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SEML.L | CNYB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 1.24% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 4.59% | 4.69% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.73% | 6.29% | -0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.47% | 7.65% | -0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.26% | 11.47% | -2.21% |
SEML.L vs. CNYB.L - Expense Ratio Comparison
SEML.L has a 0.50% expense ratio, which is higher than CNYB.L's 0.35% expense ratio.
Dividends
SEML.L vs. CNYB.L - Dividend Comparison
SEML.L's dividend yield for the trailing twelve months is around 5.65%, more than CNYB.L's 1.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNYB.L iShares China CNY Bond UCITS ETF USD (Dist) | 1.72% | 1.89% | 2.24% | 2.55% | 2.72% | 2.74% | 2.65% | 0.72% | 0.00% | 0.00% | 0.00% | 0.00% |
SEML.L iShares J.P. Morgan EM Local Government Bond UCITS ETF | 5.65% | 5.44% | 5.55% | 5.05% | 5.25% | 4.58% | 5.13% | 5.44% | 7.30% | 6.75% | 6.78% | 5.18% |
Frequently Asked Questions
SEML.L and CNYB.L have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNYB.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNYB.L is cheaper with a 0.35% expense ratio, compared with 0.50% for SEML.L.
SEML.L tracks JPM GBI-EM Global Diversified TR USD, while CNYB.L tracks Bloomberg China Treasury + Policy Bank Index. Their fees differ too: 0.50% for SEML.L and 0.35% for CNYB.L.
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