VUTA.L vs. CYGB.L
VUTA.L (Vanguard USD Treasury Bond UCITS ETF Accumulating) and CYGB.L (iShares China CNY Bond UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - VUTA.L is a Government Bonds fund tracking the Bloomberg Global Aggregate US Treasury Float Adjusted Index, while CYGB.L is a Emerging Markets Bonds fund tracking the Bloomberg China Treasury + Policy Bank Index. Both are passively managed. Over the past 5 years, VUTA.L returned -0.27%/yr vs 5.44%/yr for CYGB.L. At a 0.04 correlation, their price movements are largely independent. VUTA.L charges 0.05%/yr vs 0.40%/yr for CYGB.L.
Performance
VUTA.L vs. CYGB.L - Performance Comparison
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Returns By Period
In the year-to-date period, VUTA.L achieves a -0.45% return, which is significantly lower than CYGB.L's 3.55% return.
VUTA.L
- 1D
- -0.59%
- 1M
- -0.59%
- 6M
- -0.64%
- YTD
- -0.45%
- 1Y
- 2.76%
- 3Y*
- 1.93%
- 5Y*
- -0.27%
- 10Y*
- —
CYGB.L
- 1D
- 0.10%
- 1M
- 0.74%
- 6M
- 3.19%
- YTD
- 3.55%
- 1Y
- 3.60%
- 3Y*
- 6.74%
- 5Y*
- 5.44%
- 10Y*
- —
VUTA.L vs. CYGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VUTA.L Vanguard USD Treasury Bond UCITS ETF Accumulating | -0.45% | -1.12% | 2.51% | -1.91% | -1.88% | 4.76% |
CYGB.L iShares China CNY Bond UCITS ETF GBP Hedged (Dist) | 3.55% | 2.20% | 11.38% | 7.14% | 2.11% | 2.84% |
Correlation
The correlation between VUTA.L and CYGB.L 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 | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2021 | 0.04 |
The correlation between VUTA.L and CYGB.L shifts across timeframes, from -0.08 (1 year) to 0.05 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VUTA.L vs. CYGB.L — Risk / Return Rank
VUTA.L
CYGB.L
VUTA.L vs. CYGB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Treasury Bond UCITS ETF Accumulating (VUTA.L) and iShares China CNY Bond UCITS ETF GBP Hedged (Dist) (CYGB.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.
| VUTA.L | CYGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.28 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | 5.18 | -4.65 |
| Martin ratioReturn relative to average drawdown | 1.22 | 11.91 | -10.70 |
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Drawdowns
VUTA.L vs. CYGB.L - Drawdown Comparison
The maximum VUTA.L drawdown since its inception was -25.05%, which is greater than CYGB.L's maximum drawdown of -1.56%. Use the drawdown chart below to compare losses from any high point for VUTA.L and CYGB.L.
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Drawdown Indicators
| VUTA.L | CYGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.05% | -1.56% | -23.49% |
Max Drawdown (1Y)Largest decline over 1 year | -5.19% | -0.69% | -4.50% |
Max Drawdown (3Y)Largest decline over 3 years | -21.06% | -1.56% | -19.50% |
Max Drawdown (5Y)Largest decline over 5 years | -21.06% | -1.56% | -19.50% |
Current DrawdownCurrent decline from peak | -19.48% | 0.00% | -19.48% |
Average DrawdownAverage peak-to-trough decline | -17.91% | -0.24% | -17.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 0.30% | +1.96% |
Volatility
VUTA.L vs. CYGB.L - Volatility Comparison
Vanguard USD Treasury Bond UCITS ETF Accumulating (VUTA.L) has a higher volatility of 1.92% compared to iShares China CNY Bond UCITS ETF GBP Hedged (Dist) (CYGB.L) at 0.59%. This indicates that VUTA.L's price experiences larger fluctuations and is considered to be riskier than CYGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VUTA.L | CYGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.92% | 0.59% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 2.22% | +2.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.04% | 2.71% | +3.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.62% | 2.37% | +14.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.25% | 2.33% | +14.92% |
VUTA.L vs. CYGB.L - Expense Ratio Comparison
VUTA.L has a 0.05% expense ratio, which is lower than CYGB.L's 0.40% expense ratio.
Dividends
VUTA.L vs. CYGB.L - Dividend Comparison
VUTA.L has not paid dividends to shareholders, while CYGB.L's dividend yield for the trailing twelve months is around 1.70%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CYGB.L iShares China CNY Bond UCITS ETF GBP Hedged (Dist) | 1.70% | 1.84% | 2.13% | 2.38% | 2.68% | 2.21% |
VUTA.L Vanguard USD Treasury Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VUTA.L and CYGB.L 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, VUTA.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUTA.L is cheaper with a 0.05% expense ratio, compared with 0.40% for CYGB.L.
VUTA.L is categorized as Government Bonds, while CYGB.L is Emerging Markets Bonds. VUTA.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index, while CYGB.L tracks Bloomberg China Treasury + Policy Bank Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.05% for VUTA.L and 0.40% for CYGB.L.
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