CEBG.L vs. CM5S.L

Last updated Apr 2, 2026

Compare and contrast key facts about VanEck New China ESG UCITS ETF A (CEBG.L) and Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (CM5S.L).

CEBG.L and CM5S.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CEBG.L is a passively managed fund by VanEck that tracks the performance of the MSCI China NR USD. It was launched on Sep 24, 2021. CM5S.L is a passively managed fund by Invesco that tracks the performance of the MSCI China A Onshore NR CNY. It was launched on May 5, 2022. Both CEBG.L and CM5S.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

CEBG.L vs. CM5S.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in VanEck New China ESG UCITS ETF A (CEBG.L) and Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (CM5S.L). The values are adjusted to include any dividend payments, if applicable.

CEBG.L vs. CM5S.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CEBG.L VanEck New China ESG UCITS ETF A	-2.72%	15.45%	1.26%	-14.25%	6.84%
CM5S.L Invesco S&P China A MidCap 500 Swap UCITS ETF Acc	6.85%	42.07%	14.29%	-14.04%	13.69%

Different Trading Currencies

CEBG.L is traded in GBP, while CM5S.L is traded in GBp. To make them comparable, the CM5S.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, CEBG.L achieves a -2.72% return, which is significantly lower than CM5S.L's 6.85% return.

CEBG.L

• 1D: 1.04%
• 1M: -3.60%
• YTD: -2.72%
• 6M: -9.29%
• 1Y: 7.90%
• 3Y*: -2.89%
• 5Y*: —
• 10Y*: —

CM5S.L

• 1D: 0.62%
• 1M: -7.61%
• YTD: 6.85%
• 6M: 12.92%
• 1Y: 45.78%
• 3Y*: 12.43%
• 5Y*: —
• 10Y*: —

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

CEBG.L vs. CM5S.L - Expense Ratio Comparison

CEBG.L has a 0.60% expense ratio, which is higher than CM5S.L's 0.35% expense ratio.

CEBG.L

VanEck New China ESG UCITS ETF A

CM5S.L

Invesco S&P China A MidCap 500 Swap UCITS ETF Acc

Return for Risk

CEBG.L vs. CM5S.L — Risk / Return Rank

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

CEBG.L

CEBG.L Risk / Return Rank: 23
CEBG.L Sharpe Ratio Rank: 23
CEBG.L Sortino Ratio Rank: 22
CEBG.L Omega Ratio Rank: 21
CEBG.L Calmar Ratio Rank: 24
CEBG.L Martin Ratio Rank: 22

CM5S.L

CM5S.L Risk / Return Rank: 90
CM5S.L Sharpe Ratio Rank: 91
CM5S.L Sortino Ratio Rank: 89
CM5S.L Omega Ratio Rank: 87
CM5S.L Calmar Ratio Rank: 91
CM5S.L Martin Ratio Rank: 91

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.

CEBG.L vs. CM5S.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck New China ESG UCITS ETF A (CEBG.L) and Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (CM5S.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.

	CEBG.L	CM5S.L	Difference
Sharpe ratio Return per unit of total volatility	0.43	2.11	-1.68
Sortino ratio Return per unit of downside risk	0.67	2.61	-1.94
Omega ratio Gain probability vs. loss probability	1.09	1.37	-0.28
Calmar ratio Return relative to maximum drawdown	0.61	3.56	-2.95
Martin ratio Return relative to average drawdown	1.71	13.50	-11.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CEBG.L vs. CM5S.L - Sharpe Ratio Comparison

The current CEBG.L Sharpe Ratio is 0.43, which is lower than the CM5S.L Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of CEBG.L and CM5S.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CEBG.L	CM5S.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.43	2.11	-1.68
Sharpe Ratio (All Time) Calculated using the full available price history	-0.15	0.57	-0.73

Correlation

The correlation between CEBG.L and CM5S.L is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CEBG.L vs. CM5S.L - Dividend Comparison

Neither CEBG.L nor CM5S.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

CEBG.L vs. CM5S.L - Drawdown Comparison

The maximum CEBG.L drawdown since its inception was -46.41%, which is greater than CM5S.L's maximum drawdown of -38.57%. Use the drawdown chart below to compare losses from any high point for CEBG.L and CM5S.L.

Drawdown Indicators

	CEBG.L	CM5S.L	Difference
Max Drawdown Largest peak-to-trough decline	-46.41%	-38.57%	-7.84%
Max Drawdown (1Y) Largest decline over 1 year	-13.28%	-12.93%	-0.35%
Current Drawdown Current decline from peak	-23.36%	-8.36%	-15.00%
Average Drawdown Average peak-to-trough decline	-24.50%	-13.90%	-10.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.76%	3.41%	+1.35%

Volatility

CEBG.L vs. CM5S.L - Volatility Comparison

The current volatility for VanEck New China ESG UCITS ETF A (CEBG.L) is 5.64%, while Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (CM5S.L) has a volatility of 6.99%. This indicates that CEBG.L experiences smaller price fluctuations and is considered to be less risky than CM5S.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CEBG.L	CM5S.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.64%	6.99%	-1.35%
Volatility (6M) Calculated over the trailing 6-month period	11.62%	15.68%	-4.06%
Volatility (1Y) Calculated over the trailing 1-year period	18.33%	21.57%	-3.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.60%	25.18%	-0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.60%	25.18%	-0.58%