CA3S.L vs. FWRA.L
CA3S.L (Invesco S&P China A 300 Swap UCITS ETF Acc) and FWRA.L (Invesco FTSE All-World UCITS ETF USD Accumulation) are both exchange-traded funds - CA3S.L is a China Equities fund tracking the MSCI China A Onshore NR CNY, while FWRA.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past year, CA3S.L returned 51.07% vs 30.18% for FWRA.L. At a 0.23 correlation, their price movements are largely independent. CA3S.L charges 0.35%/yr vs 0.15%/yr for FWRA.L.
Performance
CA3S.L vs. FWRA.L - Performance Comparison
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Different Trading Currencies
CA3S.L is traded in GBp, while FWRA.L is traded in USD. To make them comparable, the FWRA.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CA3S.L achieves a 14.81% return, which is significantly higher than FWRA.L's 12.15% return.
CA3S.L
- 1D
- -0.54%
- 1M
- 4.48%
- YTD
- 14.81%
- 6M
- 18.71%
- 1Y
- 51.07%
- 3Y*
- 13.88%
- 5Y*
- —
- 10Y*
- —
FWRA.L
- 1D
- 0.00%
- 1M
- 5.33%
- YTD
- 12.15%
- 6M
- 12.33%
- 1Y
- 30.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CA3S.L vs. FWRA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CA3S.L Invesco S&P China A 300 Swap UCITS ETF Acc | 14.81% | 24.66% | 16.66% | -8.11% |
FWRA.L Invesco FTSE All-World UCITS ETF USD Accumulation | 12.04% | 13.65% | 20.13% | 8.18% |
Correlation
The correlation between CA3S.L and FWRA.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023 | 0.23 |
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Return for Risk
CA3S.L vs. FWRA.L — Risk / Return Rank
CA3S.L
FWRA.L
CA3S.L vs. FWRA.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 Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.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 | FWRA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.68 | ||
| Sortino ratioReturn per unit of downside risk | +0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.49 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 8.16 | 4.33 | +3.83 |
| Martin ratioReturn relative to average drawdown | 23.71 | 16.50 | +7.21 |
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 | FWRA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.22 | 2.54 | +0.68 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 1.44 | -0.99 |
Drawdowns
CA3S.L vs. FWRA.L - Drawdown Comparison
The maximum CA3S.L drawdown since its inception was -35.12%, which is greater than FWRA.L's maximum drawdown of -17.86%. Use the drawdown chart below to compare losses from any high point for CA3S.L and FWRA.L.
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Drawdown Indicators
| CA3S.L | FWRA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.12% | -17.86% | -17.26% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -6.91% | +0.68% |
Max Drawdown (3Y)Largest decline over 3 years | -26.15% | — | — |
Current DrawdownCurrent decline from peak | -1.01% | -0.38% | -0.63% |
Average DrawdownAverage peak-to-trough decline | -15.51% | -2.09% | -13.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 1.82% | +0.33% |
Volatility
CA3S.L vs. FWRA.L - Volatility Comparison
Invesco S&P China A 300 Swap UCITS ETF Acc (CA3S.L) has a higher volatility of 5.37% compared to Invesco FTSE All-World UCITS ETF USD Accumulation (FWRA.L) at 3.67%. This indicates that CA3S.L's price experiences larger fluctuations and is considered to be riskier than FWRA.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 | FWRA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.37% | 3.67% | +1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 10.58% | 9.28% | +1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.80% | 11.79% | +4.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.98% | 12.93% | +8.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.98% | 12.93% | +8.05% |
CA3S.L vs. FWRA.L - Expense Ratio Comparison
CA3S.L has a 0.35% expense ratio, which is higher than FWRA.L's 0.15% expense ratio.
Dividends
CA3S.L vs. FWRA.L - Dividend Comparison
Neither CA3S.L nor FWRA.L has paid dividends to shareholders.
Frequently Asked Questions
CA3S.L and FWRA.L have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FWRA.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FWRA.L is cheaper with a 0.15% expense ratio, compared with 0.35% for CA3S.L.
CA3S.L is categorized as China Equities, while FWRA.L is Global Equities. CA3S.L tracks MSCI China A Onshore NR CNY, while FWRA.L tracks FTSE All-World Index. Their fees differ too: 0.35% for CA3S.L and 0.15% for FWRA.L.
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