CMX1.L vs. CMXC.L
CMX1.L (iShares MSCI Mexico Capped UCITS ETF USD (Acc)) and CMXC.L (iShares MSCI Mexico Capped UCITS ETF USD (Acc)) are both Latin America Equities funds from iShares tracking the MSCI Mexico Capped Index (Net Return Index). Both are passively managed. Over the past 10 years, CMX1.L returned 6.56%/yr vs 6.55%/yr for CMXC.L. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.65% expense ratio.
Performance
CMX1.L vs. CMXC.L - Performance Comparison
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Different Trading Currencies
CMX1.L is traded in GBp, while CMXC.L is traded in USD. To make them comparable, the CMXC.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with CMX1.L having a 10.08% return and CMXC.L slightly higher at 10.42%. Both investments have delivered pretty close results over the past 10 years, with CMX1.L having a 6.56% annualized return and CMXC.L not far behind at 6.55%.
CMX1.L
- 1D
- -0.10%
- 1M
- -5.39%
- 6M
- 4.32%
- YTD
- 10.08%
- 1Y
- 32.57%
- 3Y*
- 9.55%
- 5Y*
- 13.21%
- 10Y*
- 6.56%
CMXC.L
- 1D
- 0.00%
- 1M
- -5.32%
- 6M
- 4.60%
- YTD
- 10.42%
- 1Y
- 32.77%
- 3Y*
- 9.63%
- 5Y*
- 13.24%
- 10Y*
- 6.55%
CMX1.L vs. CMXC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMX1.L iShares MSCI Mexico Capped UCITS ETF USD (Acc) | 10.08% | 46.33% | -26.86% | 30.17% | 10.63% | 20.72% | -3.47% | 6.36% | -8.97% | 2.96% |
CMXC.L iShares MSCI Mexico Capped UCITS ETF USD (Acc) | 10.42% | 46.08% | -26.83% | 30.93% | 10.61% | 20.19% | -3.01% | 5.62% | -8.45% | 2.85% |
Correlation
The correlation between CMX1.L and CMXC.L is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2010 | 0.91 |
The correlation between CMX1.L and CMXC.L has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.
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Return for Risk
CMX1.L vs. CMXC.L — Risk / Return Rank
CMX1.L
CMXC.L
CMX1.L vs. CMXC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Mexico Capped UCITS ETF USD (Acc) (CMX1.L) and iShares MSCI Mexico Capped UCITS ETF USD (Acc) (CMXC.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.
| CMX1.L | CMXC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.26 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 2.44 | +0.03 |
| Martin ratioReturn relative to average drawdown | 8.66 | 8.31 | +0.35 |
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Drawdowns
CMX1.L vs. CMXC.L - Drawdown Comparison
The maximum CMX1.L drawdown since its inception was -98.52%, which is greater than CMXC.L's maximum drawdown of -50.68%. Use the drawdown chart below to compare losses from any high point for CMX1.L and CMXC.L.
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Drawdown Indicators
| CMX1.L | CMXC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.52% | -50.68% | -47.84% |
Max Drawdown (1Y)Largest decline over 1 year | -13.03% | -13.15% | +0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -35.93% | -29.79% | -6.14% |
Max Drawdown (5Y)Largest decline over 5 years | -35.93% | -29.79% | -6.14% |
Max Drawdown (10Y)Largest decline over 10 years | -50.58% | -50.68% | +0.10% |
Current DrawdownCurrent decline from peak | -6.25% | -6.96% | +0.71% |
Average DrawdownAverage peak-to-trough decline | -15.85% | -14.43% | -1.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.72% | 3.86% | -0.14% |
Volatility
CMX1.L vs. CMXC.L - Volatility Comparison
iShares MSCI Mexico Capped UCITS ETF USD (Acc) (CMX1.L) and iShares MSCI Mexico Capped UCITS ETF USD (Acc) (CMXC.L) have volatilities of 5.90% and 5.62%, 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
| CMX1.L | CMXC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 5.62% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 16.92% | 18.36% | -1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.19% | 21.56% | -1.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.25% | 22.13% | +3.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.83% | 25.06% | +0.77% |
CMX1.L vs. CMXC.L - Expense Ratio Comparison
Both CMX1.L and CMXC.L have an expense ratio of 0.65%.
Dividends
CMX1.L vs. CMXC.L - Dividend Comparison
Neither CMX1.L nor CMXC.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, CMX1.L and CMXC.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.65% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
CMX1.L and CMXC.L have the same expense ratio: 0.65% per year.
Both ETFs track MSCI Mexico Capped Index (Net Return Index).
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