SPFA.DE vs. CEB0.DE
SPFA.DE (SPDR Bloomberg Emerging Markets Local Bond UCITS ETF) and CEB0.DE (iShares China CNY Bond UCITS ETF EUR Hedged Dist) are both Emerging Markets Bonds funds - SPFA.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond while CEB0.DE tracks the Bloomberg Barclays China Treasury + Policy Bank Index. Both are passively managed. Over the past year, SPFA.DE returned 3.30% vs 1.59% for CEB0.DE. At a 0.09 correlation, their price movements are largely independent. SPFA.DE charges 0.55%/yr vs 0.40%/yr for CEB0.DE.
Performance
SPFA.DE vs. CEB0.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPFA.DE achieves a 0.46% return, which is significantly lower than CEB0.DE's 1.63% return.
SPFA.DE
- 1D
- -0.01%
- 1M
- 0.39%
- YTD
- 0.46%
- 6M
- 0.45%
- 1Y
- 3.30%
- 3Y*
- 2.58%
- 5Y*
- 1.46%
- 10Y*
- —
CEB0.DE
- 1D
- -0.13%
- 1M
- 0.30%
- YTD
- 1.63%
- 6M
- 1.79%
- 1Y
- 1.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPFA.DE vs. CEB0.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPFA.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 0.46% | 2.44% | 3.53% |
CEB0.DE iShares China CNY Bond UCITS ETF EUR Hedged Dist | 1.63% | 0.43% | 6.89% |
Correlation
The correlation between SPFA.DE and CEB0.DE is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2024 | 0.09 |
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Return for Risk
SPFA.DE vs. CEB0.DE — Risk / Return Rank
SPFA.DE
CEB0.DE
SPFA.DE vs. CEB0.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SPFA.DE) and iShares China CNY Bond UCITS ETF EUR Hedged Dist (CEB0.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.
| SPFA.DE | CEB0.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.18 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 1.43 | -0.60 |
| Martin ratioReturn relative to average drawdown | 2.62 | 3.02 | -0.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPFA.DE | CEB0.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.62 | 0.94 | -0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 2.03 | -1.77 |
Drawdowns
SPFA.DE vs. CEB0.DE - Drawdown Comparison
The maximum SPFA.DE drawdown since its inception was -16.39%, which is greater than CEB0.DE's maximum drawdown of -1.83%. Use the drawdown chart below to compare losses from any high point for SPFA.DE and CEB0.DE.
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Drawdown Indicators
| SPFA.DE | CEB0.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.39% | -1.83% | -14.56% |
Max Drawdown (1Y)Largest decline over 1 year | -3.96% | -1.11% | -2.85% |
Max Drawdown (3Y)Largest decline over 3 years | -7.66% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -8.51% | — | — |
Current DrawdownCurrent decline from peak | -3.19% | -0.34% | -2.85% |
Average DrawdownAverage peak-to-trough decline | -7.62% | -0.38% | -7.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 0.52% | +0.74% |
Volatility
SPFA.DE vs. CEB0.DE - Volatility Comparison
SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SPFA.DE) has a higher volatility of 1.83% compared to iShares China CNY Bond UCITS ETF EUR Hedged Dist (CEB0.DE) at 1.02%. This indicates that SPFA.DE's price experiences larger fluctuations and is considered to be riskier than CEB0.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPFA.DE | CEB0.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 1.02% | +0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 4.51% | 1.45% | +3.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.31% | 1.68% | +3.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.24% | 2.03% | +4.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.05% | 2.03% | +5.02% |
SPFA.DE vs. CEB0.DE - Expense Ratio Comparison
SPFA.DE has a 0.55% expense ratio, which is higher than CEB0.DE's 0.40% expense ratio.
Dividends
SPFA.DE vs. CEB0.DE - Dividend Comparison
SPFA.DE has not paid dividends to shareholders, while CEB0.DE's dividend yield for the trailing twelve months is around 1.81%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CEB0.DE iShares China CNY Bond UCITS ETF EUR Hedged Dist | 1.81% | 1.84% | 1.43% |
SPFA.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPFA.DE and CEB0.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, CEB0.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEB0.DE is cheaper with a 0.40% expense ratio, compared with 0.55% for SPFA.DE.
SPFA.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond, while CEB0.DE tracks Bloomberg Barclays China Treasury + Policy Bank Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.55% for SPFA.DE and 0.40% for CEB0.DE.
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