ADIV vs. CN

Last updated Aug 4, 2026

ADIV (SmartETFs Asia Pacific Dividend Builder ETF) and CN (Xtrackers MSCI All China Equity ETF) are both exchange-traded funds - ADIV is a Asia Pacific Equities fund actively managed by Guinness Atkinson, while CN is a China Equities fund tracking the MSCI China All Shares. ADIV is actively managed, while CN is passively managed. Their 0.54 correlation means they have sometimes moved together and sometimes differently. ADIV charges 0.78%/yr vs 0.50%/yr for CN.

Performance

ADIV vs. CN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SmartETFs Asia Pacific Dividend Builder ETF (ADIV) and Xtrackers MSCI All China Equity ETF (CN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ADIV

• 1D: -0.18%
• 1M: 5.86%
• 6M: 5.97%
• YTD: 9.36%
• 1Y: 14.26%
• 3Y*: 16.44%
• 5Y*: 7.44%
• 10Y*: —
• ALL TIME*: 6.84%

CN

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ADIV SmartETFs Asia Pacific Dividend Builder ETF	$157.34K	$97.25K	$105.89K

ADIV vs. CN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ADIV SmartETFs Asia Pacific Dividend Builder ETF	9.36%	21.86%	14.47%	12.28%	-18.00%	1.41%
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	-3.10%	-11.87%	-23.85%	-11.84%

Correlation

The correlation between ADIV and CN is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (3Y) Balances recent behavior with more history.	0.30
Correlation (5Y) Shows whether the relationship held over a longer period.	0.54
Correlation (All Time) Calculated using the full available price history since Mar 29, 2021	0.54

The correlation between ADIV and CN shifts across timeframes, from 0.30 (3 years) to 0.54 (all time), reflecting how their relationship changes across market environments.

ADIV vs. CN - Sectors Allocation Comparison

Sectors	ADIV	CN
Financial Services	32.2%	55.1%
Technology	25.8%	0.3%
Consumer Cyclical	15.9%	5.4%
Real Estate	8.1%	0.8%
Healthcare	5.2%	0.8%
Consumer Defensive	4.8%	0.3%
Communication Services	3.5%	0.4%
Industrials	2.5%	1.0%
Utilities	2.0%	0.2%
Basic Materials	-	0.6%
Energy	-	0.9%

Return for Risk

ADIV vs. CN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ADIV

ADIV Risk / Return Rank: 39
ADIV Sharpe Ratio Rank: 39
ADIV Sortino Ratio Rank: 38
ADIV Omega Ratio Rank: 37
ADIV Calmar Ratio Rank: 39
ADIV Martin Ratio Rank: 40

CN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ADIV vs. CN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SmartETFs Asia Pacific Dividend Builder ETF (ADIV) and Xtrackers MSCI All China Equity ETF (CN). 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.

	ADIV	CN	Difference
Sharpe ratio: Return per unit of total volatility	1.01	—	—
Sortino ratio: Return per unit of downside risk	1.48	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	1.41	—	—
Martin ratio: Return relative to average drawdown	4.36	—	—

Drawdowns

Drawdown Indicators

	ADIV	CN	Difference
Max Drawdown Largest peak-to-trough decline	-31.55%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-10.15%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.53%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.55%	—	—
Current Drawdown Current decline from peak	-1.14%	—	—
Average Drawdown Average peak-to-trough decline	-8.26%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	—	—

Volatility

Volatility by Period

	ADIV	CN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.59%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.20%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.61%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.34%	—	—

ADIV vs. CN - Expense Ratio Comparison

ADIV has a 0.78% expense ratio, which is higher than CN's 0.50% expense ratio.

Dividends

ADIV vs. CN - Dividend Comparison

ADIV's dividend yield for the trailing twelve months is around 2.88%, while CN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADIV SmartETFs Asia Pacific Dividend Builder ETF	2.88%	2.77%	4.83%	4.55%	2.98%	13.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	0.00%	4.04%	1.80%	2.00%	0.78%	4.18%	2.09%	0.81%	11.41%	14.00%

Frequently Asked Questions

Can I hold both ADIV and CN in my portfolio?

ADIV and CN have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ADIV or CN?

On fees, CN is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ADIV or CN?

CN is cheaper with a 0.50% expense ratio, compared with 0.78% for ADIV.

Which ETF pays a higher dividend yield, ADIV or CN?

ADIV has the higher dividend yield at 2.88%, compared with 0.00% for CN.

What is the main difference between ADIV and CN?

ADIV is categorized as Asia Pacific Equities, while CN is China Equities. They also come from different issuers: Guinness Atkinson and Deutsche Bank. Their fees differ too: 0.78% for ADIV and 0.50% for CN.