CHIQ vs. CNYA

Last updated Jun 18, 2026

CHIQ (Global X MSCI China Consumer Discretionary ETF) and CNYA (iShares MSCI China A ETF) are both China Equities funds - CHIQ tracks the MSCI China Consumer Discretionary 10/50 Index while CNYA tracks the MSCI China A Inclusion Index. Both are passively managed. Over the past 10 years, CHIQ returned 6.31%/yr vs 6.48%/yr for CNYA. A 0.68 correlation means they provide meaningful diversification when combined. CHIQ charges 0.65%/yr vs 0.60%/yr for CNYA.

Performance

CHIQ vs. CNYA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MSCI China Consumer Discretionary ETF (CHIQ) 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, CHIQ achieves a -20.10% return, which is significantly lower than CNYA's 8.82% return. Both investments have delivered pretty close results over the past 10 years, with CHIQ having a 6.31% annualized return and CNYA not far ahead at 6.48%.

CHIQ

• 1D: -2.91%
• 1M: -10.77%
• YTD: -20.10%
• 6M: -19.40%
• 1Y: -19.02%
• 3Y*: -2.37%
• 5Y*: -11.62%
• 10Y*: 6.31%

CNYA

• 1D: -0.29%
• 1M: 1.89%
• YTD: 8.82%
• 6M: 11.89%
• 1Y: 36.60%
• 3Y*: 10.37%
• 5Y*: -0.11%
• 10Y*: 6.48%

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

CHIQ vs. CNYA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CHIQ Global X MSCI China Consumer Discretionary ETF	-20.10%	13.69%	10.74%	-10.70%	-22.01%	-27.07%	92.61%	44.19%	-28.65%	67.74%
CNYA iShares MSCI China A ETF	8.82%	26.48%	10.78%	-13.76%	-26.51%	3.53%	41.54%	35.95%	-26.56%	30.99%

Correlation

The correlation between CHIQ and CNYA is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jun 15, 2016	0.68

The correlation between CHIQ and CNYA shifts across timeframes, from 0.58 (1 year) to 0.70 (5 years), reflecting how their relationship changes across market environments.

CHIQ vs. CNYA - Sectors Allocation Comparison

Sectors	CHIQ	CNYA
Consumer Cyclical	96.1%	5.2%
Consumer Defensive	3.2%	6.8%
Real Estate	0.4%	0.6%
Technology	0.3%	31.7%
Industrials	0.2%	15.4%
Basic Materials	-	11.2%
Communication Services	-	1.3%
Energy	-	3.1%
Financial Services	-	17.6%
Healthcare	-	3.9%
Utilities	-	3.3%

Return for Risk

CHIQ vs. CNYA — Risk / Return Rank

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

CHIQ

CHIQ Risk / Return Rank: 3
CHIQ Sharpe Ratio Rank: 2
CHIQ Sortino Ratio Rank: 3
CHIQ Omega Ratio Rank: 3
CHIQ Calmar Ratio Rank: 4
CHIQ Martin Ratio Rank: 1

CNYA

CNYA Risk / Return Rank: 73
CNYA Sharpe Ratio Rank: 68
CNYA Sortino Ratio Rank: 66
CNYA Omega Ratio Rank: 67
CNYA Calmar Ratio Rank: 89
CNYA Martin Ratio Rank: 76

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.

CHIQ vs. CNYA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI China Consumer Discretionary ETF (CHIQ) 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.

	CHIQ	CNYA	Difference
Sharpe ratio: Return per unit of total volatility	-0.85	2.05	-2.90
Sortino ratio: Return per unit of downside risk	-1.14	2.81	-3.95
Omega ratio: Gain probability vs. loss probability	0.87	1.37	-0.49
Calmar ratio: Return relative to maximum drawdown	-0.63	4.84	-5.47
Martin ratio: Return relative to average drawdown	-1.44	13.36	-14.80

CHIQ vs. CNYA - Sharpe Ratio Comparison

The current CHIQ Sharpe Ratio is -0.85, which is lower than the CNYA Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of CHIQ 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

CHIQ vs. CNYA - Drawdown Comparison

The maximum CHIQ drawdown since its inception was -67.04%, which is greater than CNYA's maximum drawdown of -49.49%. Use the drawdown chart below to compare losses from any high point for CHIQ and CNYA.

Drawdown Indicators

	CHIQ	CNYA	Difference
Max Drawdown Largest peak-to-trough decline	-67.04%	-49.49%	-17.55%
Max Drawdown (1Y) Largest decline over 1 year	-30.32%	-7.59%	-22.73%
Max Drawdown (3Y) Largest decline over 3 years	-30.32%	-33.35%	+3.03%
Max Drawdown (5Y) Largest decline over 5 years	-59.95%	-44.65%	-15.30%
Max Drawdown (10Y) Largest decline over 10 years	-67.04%	-49.49%	-17.55%
Current Drawdown Current decline from peak	-58.08%	-13.80%	-44.28%
Average Drawdown Average peak-to-trough decline	-30.66%	-20.66%	-10.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.24%	2.75%	+10.49%

Volatility

CHIQ vs. CNYA - Volatility Comparison

Global X MSCI China Consumer Discretionary ETF (CHIQ) and iShares MSCI China A ETF (CNYA) have volatilities of 6.49% and 6.46%, 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.

Volatility by Period

	CHIQ	CNYA	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.49%	6.46%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	16.11%	13.11%	+3.00%
Volatility (1Y) Calculated over the trailing 1-year period	22.52%	17.94%	+4.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.72%	23.85%	+13.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.44%	23.57%	+8.87%

CHIQ vs. CNYA - Expense Ratio Comparison

CHIQ has a 0.65% expense ratio, which is higher than CNYA's 0.60% expense ratio.

Dividends

CHIQ vs. CNYA - Dividend Comparison

CHIQ's dividend yield for the trailing twelve months is around 1.85%, more than CNYA's 1.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHIQ Global X MSCI China Consumer Discretionary ETF	1.85%	1.48%	2.65%	2.26%	0.38%	0.00%	0.11%	1.05%	2.71%	0.62%	1.51%	4.86%
CNYA iShares MSCI China A ETF	1.73%	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 CHIQ and CNYA in my portfolio?

CHIQ and CNYA have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CHIQ or CNYA?

CHIQ has higher volatility (6.49%) compared to CNYA (6.46%). In terms of maximum drawdown, CHIQ dropped -67.04% vs CNYA's -49.49%.

Which ETF is better, CHIQ or CNYA?

On 10-year performance, CNYA leads with 6.48% vs 6.31% for CHIQ. On fees, CNYA is cheaper at 0.60% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CHIQ or CNYA?

Over the 10-year period, CNYA has performed better with a 6.48% return vs 6.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CHIQ or CNYA?

CNYA is cheaper with a 0.60% expense ratio, compared with 0.65% for CHIQ.

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

CHIQ has the higher dividend yield at 1.85%, compared with 1.73% for CNYA.

What is the main difference between CHIQ and CNYA?

CHIQ tracks MSCI China Consumer Discretionary 10/50 Index, while CNYA tracks MSCI China A Inclusion Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.65% for CHIQ and 0.60% for CNYA.

Which has better risk-adjusted returns?

CNYA currently has the higher Sharpe Ratio (2.05 vs -0.85), 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.