SNAZ.DE vs. CGB.DE
SNAZ.DE (iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc)) and CGB.DE (Xtrackers II Harvest China Government Bond UCITS ETF (Dist)) are both Emerging Markets Bonds funds - SNAZ.DE tracks the J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged) while CGB.DE tracks the FTSE Chinese Government and Policy Bank Bond 1-10 Years Capped Index. Both are passively managed. Over the past 5 years, SNAZ.DE returned -0.08%/yr vs 3.23%/yr for CGB.DE. At a correlation of -0.18, they often move in opposite directions. SNAZ.DE charges 0.53%/yr vs 0.20%/yr for CGB.DE.
Performance
SNAZ.DE vs. CGB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SNAZ.DE achieves a 0.98% return, which is significantly lower than CGB.DE's 8.00% return.
SNAZ.DE
- 1D
- 0.39%
- 1M
- 0.39%
- 6M
- 0.98%
- YTD
- 0.98%
- 1Y
- 4.05%
- 3Y*
- 5.08%
- 5Y*
- -0.08%
- 10Y*
- —
CGB.DE
- 1D
- 0.40%
- 1M
- 1.32%
- 6M
- 7.77%
- YTD
- 8.00%
- 1Y
- 11.41%
- 3Y*
- 3.87%
- 5Y*
- 3.23%
- 10Y*
- 2.48%
SNAZ.DE vs. CGB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SNAZ.DE iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) | 0.98% | 6.26% | 4.36% | 5.28% | -14.17% | -1.55% | 5.52% |
CGB.DE Xtrackers II Harvest China Government Bond UCITS ETF (Dist) | 8.00% | -6.58% | 9.93% | -2.82% | -0.10% | 15.85% | -2.21% |
Correlation
The correlation between SNAZ.DE and CGB.DE is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.20 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2020 | -0.18 |
The correlation between SNAZ.DE and CGB.DE shifts across timeframes, from -0.22 (3 years) to -0.10 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SNAZ.DE vs. CGB.DE — Risk / Return Rank
SNAZ.DE
CGB.DE
SNAZ.DE vs. CGB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) (SNAZ.DE) and Xtrackers II Harvest China Government Bond UCITS ETF (Dist) (CGB.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.
| SNAZ.DE | CGB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.34 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 4.02 | -2.63 |
| Martin ratioReturn relative to average drawdown | 5.14 | 11.91 | -6.77 |
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Drawdowns
SNAZ.DE vs. CGB.DE - Drawdown Comparison
The maximum SNAZ.DE drawdown since its inception was -21.88%, which is greater than CGB.DE's maximum drawdown of -20.06%. Use the drawdown chart below to compare losses from any high point for SNAZ.DE and CGB.DE.
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Drawdown Indicators
| SNAZ.DE | CGB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.88% | -20.06% | -1.82% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -2.83% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -3.82% | -11.08% | +7.26% |
Max Drawdown (5Y)Largest decline over 5 years | -21.88% | -13.94% | -7.94% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.64% | — |
Current DrawdownCurrent decline from peak | -1.34% | -0.94% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -7.64% | -9.28% | +1.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 0.96% | -0.17% |
Volatility
SNAZ.DE vs. CGB.DE - Volatility Comparison
The current volatility for iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) (SNAZ.DE) is 0.91%, while Xtrackers II Harvest China Government Bond UCITS ETF (Dist) (CGB.DE) has a volatility of 1.70%. This indicates that SNAZ.DE experiences smaller price fluctuations and is considered to be less risky than CGB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SNAZ.DE | CGB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 1.70% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 4.01% | -1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 5.81% | -2.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.06% | 6.74% | -1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.65% | 11.06% | -3.41% |
SNAZ.DE vs. CGB.DE - Expense Ratio Comparison
SNAZ.DE has a 0.53% expense ratio, which is higher than CGB.DE's 0.20% expense ratio.
Dividends
SNAZ.DE vs. CGB.DE - Dividend Comparison
SNAZ.DE has not paid dividends to shareholders, while CGB.DE's dividend yield for the trailing twelve months is around 2.00%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CGB.DE Xtrackers II Harvest China Government Bond UCITS ETF (Dist) | 2.00% | 2.40% | 2.37% | 2.97% | 4.40% | 2.17% | 2.15% | 2.56% | 0.72% | 2.64% | 0.38% |
SNAZ.DE iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SNAZ.DE and CGB.DE have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CGB.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CGB.DE is cheaper with a 0.20% expense ratio, compared with 0.53% for SNAZ.DE.
SNAZ.DE tracks J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged), while CGB.DE tracks FTSE Chinese Government and Policy Bank Bond 1-10 Years Capped Index. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.53% for SNAZ.DE and 0.20% for CGB.DE.
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