ZPR5.DE vs. CEB0.DE
ZPR5.DE (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF) and CEB0.DE (iShares China CNY Bond UCITS ETF EUR Hedged Dist) are both Emerging Markets Bonds funds - ZPR5.DE tracks the ICE BofA Emerging Markets USD Government Bond 0-5 ex-144a while CEB0.DE tracks the Bloomberg Barclays China Treasury + Policy Bank Index. Both are passively managed. Over the past year, ZPR5.DE returned 3.56% vs 1.59% for CEB0.DE. At a 0.05 correlation, their price movements are largely independent. ZPR5.DE charges 0.42%/yr vs 0.40%/yr for CEB0.DE.
Performance
ZPR5.DE vs. CEB0.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPR5.DE achieves a 2.14% return, which is significantly higher than CEB0.DE's 1.63% return.
ZPR5.DE
- 1D
- -0.10%
- 1M
- 0.89%
- YTD
- 2.14%
- 6M
- 1.74%
- 1Y
- 3.56%
- 3Y*
- 3.25%
- 5Y*
- 3.18%
- 10Y*
- 2.25%
CEB0.DE
- 1D
- -0.13%
- 1M
- 0.30%
- YTD
- 1.63%
- 6M
- 1.79%
- 1Y
- 1.59%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZPR5.DE vs. CEB0.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZPR5.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF | 2.14% | -4.12% | 8.05% |
CEB0.DE iShares China CNY Bond UCITS ETF EUR Hedged Dist | 1.63% | 0.43% | 6.89% |
Correlation
The correlation between ZPR5.DE and CEB0.DE is 0.07, 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 | 0.07 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2024 | 0.05 |
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Return for Risk
ZPR5.DE vs. CEB0.DE — Risk / Return Rank
ZPR5.DE
CEB0.DE
ZPR5.DE vs. CEB0.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (ZPR5.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.
| ZPR5.DE | CEB0.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.18 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 1.43 | -0.32 |
| Martin ratioReturn relative to average drawdown | 2.73 | 3.02 | -0.29 |
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
| ZPR5.DE | CEB0.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.65 | 0.94 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 2.03 | -1.64 |
Drawdowns
ZPR5.DE vs. CEB0.DE - Drawdown Comparison
The maximum ZPR5.DE drawdown since its inception was -14.48%, 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 ZPR5.DE and CEB0.DE.
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Drawdown Indicators
| ZPR5.DE | CEB0.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.48% | -1.83% | -12.65% |
Max Drawdown (1Y)Largest decline over 1 year | -3.21% | -1.11% | -2.10% |
Max Drawdown (3Y)Largest decline over 3 years | -9.72% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -9.92% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.48% | — | — |
Current DrawdownCurrent decline from peak | -4.28% | -0.34% | -3.94% |
Average DrawdownAverage peak-to-trough decline | -4.88% | -0.38% | -4.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 0.52% | +0.78% |
Volatility
ZPR5.DE vs. CEB0.DE - Volatility Comparison
The current volatility for SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (ZPR5.DE) is 0.96%, while iShares China CNY Bond UCITS ETF EUR Hedged Dist (CEB0.DE) has a volatility of 1.02%. This indicates that ZPR5.DE experiences smaller price fluctuations and is considered to be less risky 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
| ZPR5.DE | CEB0.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 1.02% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.56% | 1.45% | +2.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.43% | 1.68% | +3.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.04% | 2.03% | +5.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.20% | 2.03% | +5.17% |
ZPR5.DE vs. CEB0.DE - Expense Ratio Comparison
ZPR5.DE has a 0.42% expense ratio, which is higher than CEB0.DE's 0.40% expense ratio.
Dividends
ZPR5.DE vs. CEB0.DE - Dividend Comparison
ZPR5.DE's dividend yield for the trailing twelve months is around 4.83%, more than CEB0.DE's 1.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEB0.DE iShares China CNY Bond UCITS ETF EUR Hedged Dist | 1.81% | 1.84% | 1.43% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZPR5.DE SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF | 4.83% | 5.10% | 4.16% | 3.16% | 2.54% | 2.63% | 3.53% | 3.34% | 2.73% | 3.18% | 2.72% | 1.83% |
Frequently Asked Questions
ZPR5.DE and CEB0.DE have a correlation of 0.07, 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 0.42% for ZPR5.DE.
ZPR5.DE tracks ICE BofA Emerging Markets USD Government Bond 0-5 ex-144a, 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: 0.42% for ZPR5.DE and 0.40% for CEB0.DE.
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