CA3S.L vs. JREC.L
CA3S.L (Invesco S&P China A 300 Swap UCITS ETF Acc) and JREC.L (JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc)) are both China Equities funds. CA3S.L is passively managed, while JREC.L is actively managed. Over the past 3 years, CA3S.L returned 14.68%/yr vs 9.94%/yr for JREC.L. Their correlation of 0.84 suggests significant overlap in exposure.
Performance
CA3S.L vs. JREC.L - Performance Comparison
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Different Trading Currencies
CA3S.L is traded in GBp, while JREC.L is traded in USD. To make them comparable, the JREC.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 12.67% return, which is significantly higher than JREC.L's 9.07% return.
CA3S.L
- 1D
- 2.80%
- 1M
- -1.49%
- 6M
- 9.75%
- YTD
- 12.67%
- 1Y
- 38.18%
- 3Y*
- 14.68%
- 5Y*
- —
- 10Y*
- —
JREC.L
- 1D
- -1.80%
- 1M
- -2.78%
- 6M
- 5.86%
- YTD
- 9.07%
- 1Y
- 31.42%
- 3Y*
- 9.94%
- 5Y*
- —
- 10Y*
- —
CA3S.L vs. JREC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CA3S.L Invesco S&P China A 300 Swap UCITS ETF Acc | 12.67% | 24.66% | 16.66% | -16.63% | 7,929.00% |
JREC.L JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) | 9.07% | 19.23% | 11.57% | -17.36% | 2.13% |
Correlation
The correlation between CA3S.L and JREC.L is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since May 5, 2022 | 0.84 |
The correlation between CA3S.L and JREC.L has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.
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Return for Risk
CA3S.L vs. JREC.L — Risk / Return Rank
CA3S.L
JREC.L
CA3S.L vs. JREC.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 JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREC.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.
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.
| CA3S.L | JREC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.67 | ||
| Sortino ratioReturn per unit of downside risk | +134.63 | ||
| Omega ratioGain probability vs. loss probability | 63.42 | 1.30 | +62.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.39 | 3.83 | -3.44 |
| Martin ratioReturn relative to average drawdown | 1.50 | 11.58 | -10.08 |
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Drawdowns
CA3S.L vs. JREC.L - Drawdown Comparison
The maximum CA3S.L drawdown since its inception was -99.22%, which is greater than JREC.L's maximum drawdown of -36.61%. Use the drawdown chart below to compare losses from any high point for CA3S.L and JREC.L.
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Drawdown Indicators
| CA3S.L | JREC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.22% | -36.61% | -62.61% |
Max Drawdown (1Y)Largest decline over 1 year | -99.22% | -8.17% | -91.05% |
Max Drawdown (3Y)Largest decline over 3 years | -99.22% | -25.01% | -74.21% |
Current DrawdownCurrent decline from peak | -14.02% | -7.21% | -6.81% |
Average DrawdownAverage peak-to-trough decline | -18.86% | -16.89% | -1.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.77% | 2.71% | +23.06% |
Volatility
CA3S.L vs. JREC.L - Volatility Comparison
Invesco S&P China A 300 Swap UCITS ETF Acc (CA3S.L) and JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREC.L) have volatilities of 9.21% and 9.11%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CA3S.L | JREC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.21% | 9.11% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 922.93% | 14.56% | +908.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 13,859.97% | 18.67% | +13,841.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7,807.05% | 22.38% | +7,784.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7,807.05% | 22.38% | +7,784.67% |
Dividends
CA3S.L vs. JREC.L - Dividend Comparison
Neither CA3S.L nor JREC.L has paid dividends to shareholders.
Frequently Asked Questions
CA3S.L and JREC.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Invesco and ETF Issuer.
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