CNEW.AX vs. FLOT.AX

Last updated Jul 16, 2026

CNEW.AX (VanEck China New Economy ETF) and FLOT.AX (VanEck Australian Floating Rate ETF) are both exchange-traded funds - CNEW.AX is a China Equities fund tracking the MarketGrader China New Economy Index, while FLOT.AX is a Corporate Bonds fund tracking the VanEck Australian Floating Rate Index. Both are passively managed. Over the past 5 years, CNEW.AX returned -1.69%/yr vs 3.38%/yr for FLOT.AX. At a correlation of -0.01, they often move in opposite directions.

Performance

CNEW.AX vs. FLOT.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in VanEck China New Economy ETF (CNEW.AX) and VanEck Australian Floating Rate ETF (FLOT.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CNEW.AX having a 1.87% return and FLOT.AX slightly lower at 1.78%.

CNEW.AX

• 1D: -1.71%
• 1M: 2.64%
• 6M: -3.46%
• YTD: 1.87%
• 1Y: 13.85%
• 3Y*: 6.54%
• 5Y*: -1.69%
• 10Y*: —

FLOT.AX

• 1D: 0.08%
• 1M: 0.44%
• 6M: 1.66%
• YTD: 1.78%
• 1Y: 3.57%
• 3Y*: 4.55%
• 5Y*: 3.38%
• 10Y*: —

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

CNEW.AX vs. FLOT.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CNEW.AX VanEck China New Economy ETF	1.87%	15.14%	11.63%	-7.15%	-26.85%	14.22%	26.35%	40.10%	1.63%
FLOT.AX VanEck Australian Floating Rate ETF	1.78%	4.53%	5.19%	4.66%	0.94%	0.16%	1.67%	2.58%	0.12%

Correlation

The correlation between CNEW.AX and FLOT.AX is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	-0.06
Correlation (5Y) Calculated over the trailing 5-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Nov 8, 2018	-0.01

Return for Risk

CNEW.AX vs. FLOT.AX — Risk / Return Rank

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

CNEW.AX

CNEW.AX Risk / Return Rank: 21
CNEW.AX Sharpe Ratio Rank: 21
CNEW.AX Sortino Ratio Rank: 21
CNEW.AX Omega Ratio Rank: 21
CNEW.AX Calmar Ratio Rank: 22
CNEW.AX Martin Ratio Rank: 21

FLOT.AX

FLOT.AX Risk / Return Rank: 92
FLOT.AX Sharpe Ratio Rank: 89
FLOT.AX Sortino Ratio Rank: 90
FLOT.AX Omega Ratio Rank: 94
FLOT.AX Calmar Ratio Rank: 96
FLOT.AX Martin Ratio Rank: 93

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.

CNEW.AX vs. FLOT.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck China New Economy ETF (CNEW.AX) and VanEck Australian Floating Rate ETF (FLOT.AX). 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.

	CNEW.AX	FLOT.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.61	2.36	-1.75
Sortino ratio: Return per unit of downside risk	1.00	3.47	-2.47
Omega ratio: Gain probability vs. loss probability	1.13	1.54	-0.42
Calmar ratio: Return relative to maximum drawdown	0.87	7.10	-6.23
Martin ratio: Return relative to average drawdown	2.09	19.26	-17.17

CNEW.AX vs. FLOT.AX - Sharpe Ratio Comparison

The current CNEW.AX Sharpe Ratio is 0.61, which is lower than the FLOT.AX Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of CNEW.AX and FLOT.AX, 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

CNEW.AX vs. FLOT.AX - Drawdown Comparison

The maximum CNEW.AX drawdown since its inception was -46.20%, which is greater than FLOT.AX's maximum drawdown of -9.44%. Use the drawdown chart below to compare losses from any high point for CNEW.AX and FLOT.AX.

Drawdown Indicators

	CNEW.AX	FLOT.AX	Difference
Max Drawdown Largest peak-to-trough decline	-46.20%	-9.44%	-36.76%
Max Drawdown (1Y) Largest decline over 1 year	-13.25%	-0.48%	-12.77%
Max Drawdown (3Y) Largest decline over 3 years	-27.71%	-0.84%	-26.87%
Max Drawdown (5Y) Largest decline over 5 years	-46.20%	-1.36%	-44.84%
Current Drawdown Current decline from peak	-13.40%	0.00%	-13.40%
Average Drawdown Average peak-to-trough decline	-17.27%	-0.18%	-17.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.61%	0.18%	+5.43%

Volatility

CNEW.AX vs. FLOT.AX - Volatility Comparison

VanEck China New Economy ETF (CNEW.AX) has a higher volatility of 5.62% compared to VanEck Australian Floating Rate ETF (FLOT.AX) at 0.30%. This indicates that CNEW.AX's price experiences larger fluctuations and is considered to be riskier than FLOT.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNEW.AX	FLOT.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.62%	0.30%	+5.32%
Volatility (6M) Calculated over the trailing 6-month period	15.27%	1.08%	+14.19%
Volatility (1Y) Calculated over the trailing 1-year period	18.99%	1.44%	+17.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.49%	1.41%	+23.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.61%	3.16%	+21.45%

Dividends

CNEW.AX vs. FLOT.AX - Dividend Comparison

CNEW.AX's dividend yield for the trailing twelve months is around 0.74%, less than FLOT.AX's 3.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNEW.AX VanEck China New Economy ETF	0.74%	0.88%	1.71%	1.72%	1.86%	1.03%	1.40%	1.01%	0.00%	0.00%
FLOT.AX VanEck Australian Floating Rate ETF	3.38%	4.30%	4.56%	4.30%	1.53%	0.92%	1.33%	2.47%	2.02%	1.20%

Frequently Asked Questions

Can I hold both CNEW.AX and FLOT.AX in my portfolio?

CNEW.AX and FLOT.AX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between CNEW.AX and FLOT.AX?

CNEW.AX is categorized as China Equities, while FLOT.AX is Corporate Bonds. CNEW.AX tracks MarketGrader China New Economy Index, while FLOT.AX tracks VanEck Australian Floating Rate Index.