AIA vs. CNYA

Last updated Jul 14, 2026

AIA (iShares Asia 50 ETF) and CNYA (iShares MSCI China A ETF) are both exchange-traded funds - AIA is a Asia Pacific Equities fund tracking the S&P Asia 50 Index, while CNYA is a China Equities fund tracking the MSCI China A Inclusion Index. Both are passively managed. Over the past 10 years, AIA returned 13.49%/yr vs 5.28%/yr for CNYA. A 0.62 correlation means they provide meaningful diversification when combined. AIA charges 0.50%/yr vs 0.60%/yr for CNYA.

Performance

AIA vs. CNYA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Asia 50 ETF (AIA) and iShares MSCI China A ETF (CNYA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIA achieves a 37.27% return, which is significantly higher than CNYA's 3.41% return. Over the past 10 years, AIA has outperformed CNYA with an annualized return of 13.49%, while CNYA has yielded a comparatively lower 5.28% annualized return.

AIA

• 1D: -3.93%
• 1M: -5.04%
• 6M: 26.37%
• YTD: 37.27%
• 1Y: 67.79%
• 3Y*: 32.31%
• 5Y*: 10.75%
• 10Y*: 13.49%

CNYA

• 1D: -3.04%
• 1M: -3.13%
• 6M: -1.30%
• YTD: 3.41%
• 1Y: 24.47%
• 3Y*: 9.03%
• 5Y*: -1.52%
• 10Y*: 5.28%

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

AIA vs. CNYA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AIA iShares Asia 50 ETF	37.27%	47.79%	20.26%	4.32%	-24.08%	-10.91%	33.73%	22.21%	-14.22%	45.00%
CNYA iShares MSCI China A ETF	3.41%	26.48%	10.78%	-13.76%	-26.51%	3.53%	41.54%	35.95%	-26.56%	30.99%

Correlation

The correlation between AIA and CNYA is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jun 15, 2016	0.62

The correlation between AIA and CNYA has been stable across timeframes, ranging from 0.55 to 0.62 - a consistent structural relationship.

AIA vs. CNYA - Sectors Allocation Comparison

Sectors	AIA	CNYA
Technology	63.8%	31.7%
Financial Services	16.4%	17.6%
Consumer Cyclical	8.6%	5.2%
Communication Services	7.4%	1.3%
Industrials	2.0%	15.4%
Healthcare	0.8%	3.9%
Energy	0.6%	3.1%
Real Estate	0.5%	0.6%
Basic Materials	-	11.2%
Consumer Defensive	-	6.8%
Utilities	-	3.3%

Return for Risk

AIA vs. CNYA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIA

AIA Risk / Return Rank: 85
AIA Sharpe Ratio Rank: 87
AIA Sortino Ratio Rank: 76
AIA Omega Ratio Rank: 83
AIA Calmar Ratio Rank: 92
AIA Martin Ratio Rank: 88

CNYA

CNYA Risk / Return Rank: 54
CNYA Sharpe Ratio Rank: 45
CNYA Sortino Ratio Rank: 43
CNYA Omega Ratio Rank: 45
CNYA Calmar Ratio Rank: 77
CNYA Martin Ratio Rank: 60

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIA vs. CNYA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Asia 50 ETF (AIA) and iShares MSCI China A ETF (CNYA). 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.

	AIA	CNYA	Difference
Sharpe ratio: Return per unit of total volatility	2.24	1.27	+0.97
Sortino ratio: Return per unit of downside risk	2.70	1.80	+0.90
Omega ratio: Gain probability vs. loss probability	1.39	1.23	+0.16
Calmar ratio: Return relative to maximum drawdown	4.82	3.16	+1.66
Martin ratio: Return relative to average drawdown	15.01	8.38	+6.64

AIA vs. CNYA - Sharpe Ratio Comparison

The current AIA Sharpe Ratio is 2.24, which is higher than the CNYA Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of AIA and CNYA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AIA vs. CNYA - Drawdown Comparison

The maximum AIA drawdown since its inception was -60.89%, which is greater than CNYA's maximum drawdown of -49.49%. Use the drawdown chart below to compare losses from any high point for AIA and CNYA.

Drawdown Indicators

	AIA	CNYA	Difference
Max Drawdown Largest peak-to-trough decline	-60.89%	-49.49%	-11.40%
Max Drawdown (1Y) Largest decline over 1 year	-14.15%	-7.77%	-6.38%
Max Drawdown (3Y) Largest decline over 3 years	-21.64%	-33.35%	+11.71%
Max Drawdown (5Y) Largest decline over 5 years	-48.67%	-44.65%	-4.02%
Max Drawdown (10Y) Largest decline over 10 years	-54.64%	-49.49%	-5.15%
Current Drawdown Current decline from peak	-11.19%	-18.08%	+6.89%
Average Drawdown Average peak-to-trough decline	-16.62%	-20.62%	+4.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.53%	2.93%	+1.60%

Volatility

AIA vs. CNYA - Volatility Comparison

iShares Asia 50 ETF (AIA) has a higher volatility of 14.46% compared to iShares MSCI China A ETF (CNYA) at 8.65%. This indicates that AIA's price experiences larger fluctuations and is considered to be riskier than CNYA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIA	CNYA	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.46%	8.65%	+5.81%
Volatility (6M) Calculated over the trailing 6-month period	27.29%	14.98%	+12.31%
Volatility (1Y) Calculated over the trailing 1-year period	30.55%	19.41%	+11.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.54%	24.02%	+2.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.03%	23.59%	+0.44%

AIA vs. CNYA - Expense Ratio Comparison

AIA has a 0.50% expense ratio, which is lower than CNYA's 0.60% expense ratio.

Dividends

AIA vs. CNYA - Dividend Comparison

AIA's dividend yield for the trailing twelve months is around 1.60%, less than CNYA's 1.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIA iShares Asia 50 ETF	1.60%	2.50%	2.78%	2.07%	2.59%	1.54%	1.11%	2.24%	2.49%	1.45%	2.29%	2.88%
CNYA iShares MSCI China A ETF	1.82%	1.92%	2.51%	4.23%	2.69%	1.11%	1.06%	1.21%	3.92%	0.97%	1.38%	0.00%

Frequently Asked Questions

Can I hold both AIA and CNYA in my portfolio?

AIA and CNYA have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIA or CNYA?

AIA has higher volatility (14.46%) compared to CNYA (8.65%). In terms of maximum drawdown, AIA dropped -60.89% vs CNYA's -49.49%.

Which ETF is better, AIA or CNYA?

On 10-year performance, AIA leads with 13.49% vs 5.28% for CNYA. On fees, AIA is cheaper at 0.50% per year. On volatility, CNYA has been the lower-risk option at 8.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIA or CNYA?

Over the 10-year period, AIA has performed better with a 13.49% return vs 5.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIA or CNYA?

AIA is cheaper with a 0.50% expense ratio, compared with 0.60% for CNYA.

Which ETF pays a higher dividend yield, AIA or CNYA?

CNYA has the higher dividend yield at 1.82%, compared with 1.60% for AIA.

What is the main difference between AIA and CNYA?

AIA is categorized as Asia Pacific Equities, while CNYA is China Equities. AIA tracks S&P Asia 50 Index, while CNYA tracks MSCI China A Inclusion Index. Their fees differ too: 0.50% for AIA and 0.60% for CNYA.

Which has better risk-adjusted returns?

AIA currently has the higher Sharpe Ratio (2.24 vs 1.27), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.