XT01.L vs. CYGB.L
XT01.L (Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C) and CYGB.L (iShares China CNY Bond UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - XT01.L is a Government Bonds fund tracking the FTSE US Treasury Short Duration 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, XT01.L returned 4.00%/yr vs 5.44%/yr for CYGB.L. At a correlation of -0.01, they often move in opposite directions. XT01.L charges 0.06%/yr vs 0.40%/yr for CYGB.L.
Performance
XT01.L vs. CYGB.L - Performance Comparison
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Returns By Period
In the year-to-date period, XT01.L achieves a 2.09% return, which is significantly lower than CYGB.L's 3.55% return.
XT01.L
- 1D
- -0.11%
- 1M
- 0.45%
- 6M
- 1.96%
- YTD
- 2.09%
- 1Y
- 3.71%
- 3Y*
- 3.85%
- 5Y*
- 4.00%
- 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*
- —
XT01.L vs. CYGB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XT01.L Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C | 2.09% | -2.79% | 6.91% | -0.75% | 12.89% | 4.66% |
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 XT01.L and CYGB.L is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2021 | -0.01 |
The correlation between XT01.L and CYGB.L shifts across timeframes, from -0.14 (1 year) to -0.00 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XT01.L vs. CYGB.L — Risk / Return Rank
XT01.L
CYGB.L
XT01.L vs. CYGB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C (XT01.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.
| XT01.L | CYGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.28 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 5.18 | -4.35 |
| Martin ratioReturn relative to average drawdown | 2.07 | 11.91 | -9.84 |
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Drawdowns
XT01.L vs. CYGB.L - Drawdown Comparison
The maximum XT01.L drawdown since its inception was -15.30%, 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 XT01.L and CYGB.L.
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Drawdown Indicators
| XT01.L | CYGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.30% | -1.56% | -13.74% |
Max Drawdown (1Y)Largest decline over 1 year | -4.47% | -0.69% | -3.78% |
Max Drawdown (3Y)Largest decline over 3 years | -9.74% | -1.56% | -8.18% |
Max Drawdown (5Y)Largest decline over 5 years | -15.30% | -1.56% | -13.74% |
Current DrawdownCurrent decline from peak | -5.15% | 0.00% | -5.15% |
Average DrawdownAverage peak-to-trough decline | -7.24% | -0.24% | -7.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 0.30% | +1.49% |
Volatility
XT01.L vs. CYGB.L - Volatility Comparison
Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C (XT01.L) has a higher volatility of 1.65% compared to iShares China CNY Bond UCITS ETF GBP Hedged (Dist) (CYGB.L) at 0.59%. This indicates that XT01.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
| XT01.L | CYGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.65% | 0.59% | +1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 4.70% | 2.22% | +2.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.36% | 2.71% | +3.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.35% | 2.37% | +5.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.30% | 2.33% | +5.97% |
XT01.L vs. CYGB.L - Expense Ratio Comparison
XT01.L has a 0.06% expense ratio, which is lower than CYGB.L's 0.40% expense ratio.
Dividends
XT01.L vs. CYGB.L - Dividend Comparison
XT01.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% |
XT01.L Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XT01.L and CYGB.L have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XT01.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XT01.L is cheaper with a 0.06% expense ratio, compared with 0.40% for CYGB.L.
XT01.L is categorized as Government Bonds, while CYGB.L is Emerging Markets Bonds. XT01.L tracks FTSE US Treasury Short Duration Index, while CYGB.L tracks Bloomberg China Treasury + Policy Bank Index. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.06% for XT01.L and 0.40% for CYGB.L.
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