SYBM.DE vs. ICGB.DE
SYBM.DE (SPDR Bloomberg Emerging Markets Local Bond UCITS ETF) and ICGB.DE (iShares China CNY Bond UCITS ETF USD (Dist)) are both Emerging Markets Bonds funds - SYBM.DE tracks the Bloomberg Emerging Markets Local Currency Liquid Government Bond while ICGB.DE tracks the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, SYBM.DE returned 1.70%/yr vs 3.70%/yr for ICGB.DE. At a 0.38 correlation, their price movements are largely independent. SYBM.DE charges 0.55%/yr vs 0.35%/yr for ICGB.DE.
Performance
SYBM.DE vs. ICGB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SYBM.DE achieves a 2.31% return, which is significantly lower than ICGB.DE's 8.29% return.
SYBM.DE
- 1D
- -0.43%
- 1M
- 0.16%
- 6M
- 0.83%
- YTD
- 2.31%
- 1Y
- 5.08%
- 3Y*
- 3.58%
- 5Y*
- 1.70%
- 10Y*
- 1.31%
ICGB.DE
- 1D
- 0.00%
- 1M
- 1.24%
- 6M
- 6.21%
- YTD
- 8.29%
- 1Y
- 8.81%
- 3Y*
- 5.26%
- 5Y*
- 3.70%
- 10Y*
- —
SYBM.DE vs. ICGB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SYBM.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 2.31% | 2.48% | 3.06% | 5.79% | -4.56% | -0.97% | -5.72% | 2.26% |
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 8.29% | -7.16% | 11.36% | -2.27% | 1.10% | 17.31% | 0.08% | -10.15% |
Correlation
The correlation between SYBM.DE and ICGB.DE is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2019 | 0.38 |
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Return for Risk
SYBM.DE vs. ICGB.DE — Risk / Return Rank
SYBM.DE
ICGB.DE
SYBM.DE vs. ICGB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SYBM.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.
| SYBM.DE | ICGB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.31 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 3.17 | -1.87 |
| Martin ratioReturn relative to average drawdown | 3.93 | 8.39 | -4.46 |
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Drawdowns
SYBM.DE vs. ICGB.DE - Drawdown Comparison
The maximum SYBM.DE drawdown since its inception was -31.70%, 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 SYBM.DE and ICGB.DE.
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Drawdown Indicators
| SYBM.DE | ICGB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.70% | -13.36% | -18.34% |
Max Drawdown (1Y)Largest decline over 1 year | -3.90% | -2.77% | -1.13% |
Max Drawdown (3Y)Largest decline over 3 years | -7.60% | -11.17% | +3.57% |
Max Drawdown (5Y)Largest decline over 5 years | -8.64% | -13.36% | +4.72% |
Max Drawdown (10Y)Largest decline over 10 years | -16.37% | — | — |
Current DrawdownCurrent decline from peak | -5.31% | -1.42% | -3.89% |
Average DrawdownAverage peak-to-trough decline | -17.12% | -6.39% | -10.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 1.04% | +0.25% |
Volatility
SYBM.DE vs. ICGB.DE - Volatility Comparison
The current volatility for SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (SYBM.DE) is 0.96%, while iShares China CNY Bond UCITS ETF USD (Dist) (ICGB.DE) has a volatility of 1.06%. This indicates that SYBM.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
| SYBM.DE | ICGB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 1.06% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 4.21% | 3.58% | +0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.06% | 5.32% | -0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.68% | 6.63% | +0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.65% | 7.89% | -0.24% |
SYBM.DE vs. ICGB.DE - Expense Ratio Comparison
SYBM.DE has a 0.55% expense ratio, which is higher than ICGB.DE's 0.35% expense ratio.
Dividends
SYBM.DE vs. ICGB.DE - Dividend Comparison
SYBM.DE's dividend yield for the trailing twelve months is around 4.98%, more than ICGB.DE's 1.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICGB.DE iShares China CNY Bond UCITS ETF USD (Dist) | 1.68% | 1.92% | 2.22% | 2.58% | 2.80% | 2.71% | 2.63% | 0.95% | 0.00% | 0.00% | 0.00% | 0.00% |
SYBM.DE SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 4.98% | 5.01% | 4.74% | 4.21% | 4.29% | 3.90% | 4.12% | 4.34% | 4.13% | 5.01% | 4.30% | 5.26% |
Frequently Asked Questions
SYBM.DE and ICGB.DE have a correlation of 0.34, 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 0.55% for SYBM.DE.
SYBM.DE tracks Bloomberg Emerging Markets Local Currency Liquid Government Bond, while ICGB.DE tracks Bloomberg China Treasury + Policy Bank Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.55% for SYBM.DE and 0.35% for ICGB.DE.
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