CM5S.L vs. IASH.L
CM5S.L (Invesco S&P China A MidCap 500 Swap UCITS ETF Acc) and IASH.L (iShares MSCI China A UCITS USD) are both China Equities funds tracking the MSCI China A Onshore NR CNY, from Invesco and iShares respectively. Both are passively managed. Over the past 3 years, CM5S.L returned 19.62%/yr vs 8.41%/yr for IASH.L. Their correlation of 0.88 suggests significant overlap in exposure. CM5S.L charges 0.35%/yr vs 0.40%/yr for IASH.L.
Performance
CM5S.L vs. IASH.L - Performance Comparison
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Returns By Period
In the year-to-date period, CM5S.L achieves a 19.27% return, which is significantly higher than IASH.L's 9.51% return.
CM5S.L
- 1D
- 0.37%
- 1M
- 2.83%
- YTD
- 19.27%
- 6M
- 28.14%
- 1Y
- 72.97%
- 3Y*
- 19.62%
- 5Y*
- —
- 10Y*
- —
IASH.L
- 1D
- -0.06%
- 1M
- 3.10%
- YTD
- 9.51%
- 6M
- 12.93%
- 1Y
- 38.65%
- 3Y*
- 8.41%
- 5Y*
- 0.05%
- 10Y*
- 7.12%
CM5S.L vs. IASH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CM5S.L Invesco S&P China A MidCap 500 Swap UCITS ETF Acc | 19.27% | 42.07% | 14.29% | -14.04% | 13.69% |
IASH.L iShares MSCI China A UCITS USD | 9.51% | 17.67% | 12.92% | -18.83% | 4.21% |
Correlation
The correlation between CM5S.L and IASH.L is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since May 10, 2022 | 0.88 |
The correlation between CM5S.L and IASH.L has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.
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Return for Risk
CM5S.L vs. IASH.L — Risk / Return Rank
CM5S.L
IASH.L
CM5S.L vs. IASH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (CM5S.L) and iShares MSCI China A UCITS USD (IASH.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.
| CM5S.L | IASH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.44 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 5.61 | 5.73 | -0.11 |
| Martin ratioReturn relative to average drawdown | 22.06 | 15.80 | +6.26 |
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
| CM5S.L | IASH.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.58 | 2.47 | +1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.00 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.33 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.09 | +0.59 |
Drawdowns
CM5S.L vs. IASH.L - Drawdown Comparison
The maximum CM5S.L drawdown since its inception was -38.57%, smaller than the maximum IASH.L drawdown of -48.39%. Use the drawdown chart below to compare losses from any high point for CM5S.L and IASH.L.
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Drawdown Indicators
| CM5S.L | IASH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.57% | -48.39% | +9.82% |
Max Drawdown (1Y)Largest decline over 1 year | -12.93% | -6.72% | -6.21% |
Max Drawdown (3Y)Largest decline over 3 years | -27.21% | -25.77% | -1.44% |
Max Drawdown (5Y)Largest decline over 5 years | — | -42.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.67% | — |
Current DrawdownCurrent decline from peak | -4.42% | -10.06% | +5.64% |
Average DrawdownAverage peak-to-trough decline | -13.47% | -24.72% | +11.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 2.44% | +0.86% |
Volatility
CM5S.L vs. IASH.L - Volatility Comparison
Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (CM5S.L) has a higher volatility of 6.29% compared to iShares MSCI China A UCITS USD (IASH.L) at 5.69%. This indicates that CM5S.L's price experiences larger fluctuations and is considered to be riskier than IASH.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CM5S.L | IASH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.29% | 5.69% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 15.28% | 10.68% | +4.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.35% | 15.61% | +4.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.04% | 21.27% | +3.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.04% | 22.79% | +2.25% |
CM5S.L vs. IASH.L - Expense Ratio Comparison
CM5S.L has a 0.35% expense ratio, which is lower than IASH.L's 0.40% expense ratio.
Dividends
CM5S.L vs. IASH.L - Dividend Comparison
Neither CM5S.L nor IASH.L has paid dividends to shareholders.
Frequently Asked Questions
CM5S.L and IASH.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CM5S.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CM5S.L is cheaper with a 0.35% expense ratio, compared with 0.40% for IASH.L.
Both ETFs track MSCI China A Onshore NR CNY. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.35% for CM5S.L and 0.40% for IASH.L.
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