CNEG.L vs. CM5S.L
CNEG.L (Amundi MSCI China ESG Leaders Select UCITS ETF DR (C)) and CM5S.L (Invesco S&P China A MidCap 500 Swap UCITS ETF Acc) are both China Equities funds - CNEG.L tracks the MSCI China NR USD while CM5S.L tracks the MSCI China A Onshore NR CNY. Both are passively managed. Over the past 3 years, CNEG.L returned 4.28%/yr vs 19.85%/yr for CM5S.L. A 0.61 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.
Performance
CNEG.L vs. CM5S.L - Performance Comparison
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Returns By Period
In the year-to-date period, CNEG.L achieves a -8.89% return, which is significantly lower than CM5S.L's 19.25% return.
CNEG.L
- 1D
- -0.38%
- 1M
- -0.44%
- YTD
- -8.89%
- 6M
- -10.31%
- 1Y
- 3.32%
- 3Y*
- 4.28%
- 5Y*
- —
- 10Y*
- —
CM5S.L
- 1D
- -0.01%
- 1M
- 2.36%
- YTD
- 19.25%
- 6M
- 27.95%
- 1Y
- 71.20%
- 3Y*
- 19.85%
- 5Y*
- —
- 10Y*
- —
CNEG.L vs. CM5S.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CNEG.L Amundi MSCI China ESG Leaders Select UCITS ETF DR (C) | -8.89% | 23.90% | 11.58% | -14.99% | 4.39% |
CM5S.L Invesco S&P China A MidCap 500 Swap UCITS ETF Acc | 19.25% | 42.07% | 14.29% | -14.04% | 13.69% |
Correlation
The correlation between CNEG.L and CM5S.L is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since May 10, 2022 | 0.61 |
The correlation between CNEG.L and CM5S.L has been stable across timeframes, ranging from 0.54 to 0.61 - a consistent structural relationship.
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Return for Risk
CNEG.L vs. CM5S.L — Risk / Return Rank
CNEG.L
CM5S.L
CNEG.L vs. CM5S.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI China ESG Leaders Select UCITS ETF DR (C) (CNEG.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.
| CNEG.L | CM5S.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.33 | ||
| Sortino ratioReturn per unit of downside risk | -3.82 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.57 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | 0.16 | 5.48 | -5.32 |
| Martin ratioReturn relative to average drawdown | 0.32 | 21.45 | -21.14 |
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
| CNEG.L | CM5S.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.16 | 3.49 | -3.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.16 | 0.68 | -0.83 |
Drawdowns
CNEG.L vs. CM5S.L - Drawdown Comparison
The maximum CNEG.L drawdown since its inception was -46.55%, 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 CNEG.L and CM5S.L.
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Drawdown Indicators
| CNEG.L | CM5S.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.55% | -38.57% | -7.98% |
Max Drawdown (1Y)Largest decline over 1 year | -20.54% | -12.93% | -7.61% |
Max Drawdown (3Y)Largest decline over 3 years | -26.84% | -26.12% | -0.72% |
Current DrawdownCurrent decline from peak | -22.79% | -4.43% | -18.36% |
Average DrawdownAverage peak-to-trough decline | -26.63% | -13.46% | -13.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.43% | 3.31% | +7.12% |
Volatility
CNEG.L vs. CM5S.L - Volatility Comparison
Amundi MSCI China ESG Leaders Select UCITS ETF DR (C) (CNEG.L) has a higher volatility of 7.88% compared to Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (CM5S.L) at 6.29%. This indicates that CNEG.L's price experiences larger fluctuations and is considered to be riskier than CM5S.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNEG.L | CM5S.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.88% | 6.29% | +1.59% |
Volatility (6M)Calculated over the trailing 6-month period | 14.68% | 15.26% | -0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.42% | 20.30% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.48% | 25.03% | +6.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.48% | 25.03% | +6.45% |
CNEG.L vs. CM5S.L - Expense Ratio Comparison
Both CNEG.L and CM5S.L have an expense ratio of 0.35%.
Dividends
CNEG.L vs. CM5S.L - Dividend Comparison
Neither CNEG.L nor CM5S.L has paid dividends to shareholders.
Frequently Asked Questions
CNEG.L and CM5S.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
CNEG.L and CM5S.L have the same expense ratio: 0.35% per year.
CNEG.L tracks MSCI China NR USD, while CM5S.L tracks MSCI China A Onshore NR CNY. They also come from different issuers: Amundi and Invesco.
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