CA3S.L vs. CNEG.L
CA3S.L (Invesco S&P China A 300 Swap UCITS ETF Acc) and CNEG.L (Amundi MSCI China ESG Leaders Select UCITS ETF DR (C)) are both China Equities funds - CA3S.L tracks the MSCI China A Onshore NR CNY while CNEG.L tracks the MSCI China NR USD. Both are passively managed. Over the past 3 years, CA3S.L returned 13.88%/yr vs 4.28%/yr for CNEG.L. A 0.67 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.
Performance
CA3S.L vs. CNEG.L - Performance Comparison
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Returns By Period
In the year-to-date period, CA3S.L achieves a 14.81% return, which is significantly higher than CNEG.L's -8.89% return.
CA3S.L
- 1D
- -0.54%
- 1M
- 4.48%
- YTD
- 14.81%
- 6M
- 18.71%
- 1Y
- 51.07%
- 3Y*
- 13.88%
- 5Y*
- —
- 10Y*
- —
CNEG.L
- 1D
- -0.38%
- 1M
- -0.44%
- YTD
- -8.89%
- 6M
- -10.31%
- 1Y
- 3.32%
- 3Y*
- 4.28%
- 5Y*
- —
- 10Y*
- —
CA3S.L vs. CNEG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CA3S.L Invesco S&P China A 300 Swap UCITS ETF Acc | 14.81% | 24.66% | 16.66% | -16.63% | 3.94% |
CNEG.L Amundi MSCI China ESG Leaders Select UCITS ETF DR (C) | -8.89% | 23.90% | 11.58% | -14.99% | 4.39% |
Correlation
The correlation between CA3S.L and CNEG.L 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 | 0.65 |
Correlation (All Time) Calculated using the full available price history since May 10, 2022 | 0.67 |
The correlation between CA3S.L and CNEG.L shifts across timeframes, from 0.55 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CA3S.L vs. CNEG.L — Risk / Return Rank
CA3S.L
CNEG.L
CA3S.L vs. CNEG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P China A 300 Swap UCITS ETF Acc (CA3S.L) and Amundi MSCI China ESG Leaders Select UCITS ETF DR (C) (CNEG.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.
| CA3S.L | CNEG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.06 | ||
| Sortino ratioReturn per unit of downside risk | +3.74 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.04 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 8.16 | 0.16 | +8.00 |
| Martin ratioReturn relative to average drawdown | 23.71 | 0.32 | +23.40 |
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
| CA3S.L | CNEG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.22 | 0.16 | +3.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | -0.16 | +0.61 |
Drawdowns
CA3S.L vs. CNEG.L - Drawdown Comparison
The maximum CA3S.L drawdown since its inception was -35.12%, smaller than the maximum CNEG.L drawdown of -46.55%. Use the drawdown chart below to compare losses from any high point for CA3S.L and CNEG.L.
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Drawdown Indicators
| CA3S.L | CNEG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.12% | -46.55% | +11.43% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -20.54% | +14.31% |
Max Drawdown (3Y)Largest decline over 3 years | -26.15% | -26.84% | +0.69% |
Current DrawdownCurrent decline from peak | -1.01% | -22.79% | +21.78% |
Average DrawdownAverage peak-to-trough decline | -15.51% | -26.63% | +11.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 10.43% | -8.28% |
Volatility
CA3S.L vs. CNEG.L - Volatility Comparison
The current volatility for Invesco S&P China A 300 Swap UCITS ETF Acc (CA3S.L) is 5.37%, while Amundi MSCI China ESG Leaders Select UCITS ETF DR (C) (CNEG.L) has a volatility of 7.88%. This indicates that CA3S.L experiences smaller price fluctuations and is considered to be less risky than CNEG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CA3S.L | CNEG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.37% | 7.88% | -2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 10.58% | 14.68% | -4.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.80% | 20.42% | -4.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.98% | 31.48% | -10.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.98% | 31.48% | -10.50% |
CA3S.L vs. CNEG.L - Expense Ratio Comparison
Both CA3S.L and CNEG.L have an expense ratio of 0.35%.
Dividends
CA3S.L vs. CNEG.L - Dividend Comparison
Neither CA3S.L nor CNEG.L has paid dividends to shareholders.
Frequently Asked Questions
CA3S.L and CNEG.L 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.
Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
CA3S.L and CNEG.L have the same expense ratio: 0.35% per year.
CA3S.L tracks MSCI China A Onshore NR CNY, while CNEG.L tracks MSCI China NR USD. They also come from different issuers: Invesco and Amundi.
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