SNAZ.DE vs. ICGB.DE
SNAZ.DE (iShares J.P. Morgan $ EM Corp Bond UCITS ETF EUR Hedged (Acc)) and ICGB.DE (iShares China CNY Bond UCITS ETF USD (Dist)) are both Emerging Markets Bonds funds from iShares - SNAZ.DE tracks the J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged) while ICGB.DE tracks the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, SNAZ.DE returned -0.08%/yr vs 3.84%/yr for ICGB.DE. At a correlation of -0.15, they often move in opposite directions. SNAZ.DE charges 0.53%/yr vs 0.35%/yr for ICGB.DE.
Performance
SNAZ.DE vs. ICGB.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 ICGB.DE's 7.85% 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*
- —
ICGB.DE
- 1D
- -0.20%
- 1M
- 1.25%
- 6M
- 7.38%
- YTD
- 7.85%
- 1Y
- 9.80%
- 3Y*
- 4.28%
- 5Y*
- 3.84%
- 10Y*
- —
SNAZ.DE vs. ICGB.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% |
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 7.85% | -7.16% | 11.36% | -2.27% | 1.10% | 17.31% | -1.90% |
Correlation
The correlation between SNAZ.DE and ICGB.DE is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.17 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2020 | -0.15 |
The correlation between SNAZ.DE and ICGB.DE shifts across timeframes, from -0.20 (3 years) to -0.08 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SNAZ.DE vs. ICGB.DE — Risk / Return Rank
SNAZ.DE
ICGB.DE
SNAZ.DE vs. ICGB.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 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.
| SNAZ.DE | ICGB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.34 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 3.52 | -2.13 |
| Martin ratioReturn relative to average drawdown | 5.14 | 9.25 | -4.10 |
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Drawdowns
SNAZ.DE vs. ICGB.DE - Drawdown Comparison
The maximum SNAZ.DE drawdown since its inception was -21.88%, 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 SNAZ.DE and ICGB.DE.
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Drawdown Indicators
| SNAZ.DE | ICGB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.88% | -13.36% | -8.52% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -2.77% | -0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -3.82% | -11.17% | +7.35% |
Max Drawdown (5Y)Largest decline over 5 years | -21.88% | -13.36% | -8.52% |
Current DrawdownCurrent decline from peak | -1.34% | -1.82% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -7.64% | -6.42% | -1.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 1.06% | -0.27% |
Volatility
SNAZ.DE vs. ICGB.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 iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) has a volatility of 1.34%. This indicates that SNAZ.DE experiences smaller price fluctuations and is considered to be less risky 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
| SNAZ.DE | ICGB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 1.34% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 3.71% | -0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.36% | 5.38% | -2.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.06% | 6.64% | -1.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.65% | 7.91% | -0.26% |
SNAZ.DE vs. ICGB.DE - Expense Ratio Comparison
SNAZ.DE has a 0.53% expense ratio, which is higher than ICGB.DE's 0.35% expense ratio.
Dividends
SNAZ.DE vs. ICGB.DE - Dividend Comparison
SNAZ.DE has not paid dividends to shareholders, while ICGB.DE's dividend yield for the trailing twelve months is around 1.69%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 1.69% | 1.92% | 2.22% | 2.58% | 2.80% | 2.71% | 2.63% | 0.95% |
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% |
Frequently Asked Questions
SNAZ.DE and ICGB.DE have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICGB.DE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICGB.DE is cheaper with a 0.35% expense ratio, compared with 0.53% for SNAZ.DE.
SNAZ.DE tracks J.P. Morgan CEMBI Broad Diversified Core Index (EUR Hedged), while ICGB.DE tracks Bloomberg China Treasury + Policy Bank Index. Their fees differ too: 0.53% for SNAZ.DE and 0.35% for ICGB.DE.
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