CNEW.L vs. CNAA.L
CNEW.L (VanEck New China UCITS ETF) and CNAA.L (Lyxor Fortune SG UCITS MSCI China A DR) are both China Equities funds - CNEW.L tracks the MarketGrader New China Screened Index while CNAA.L tracks the MSCI China A Onshore NR CNY. Both are passively managed. Over the past 3 years, CNEW.L returned 0.83%/yr vs 9.60%/yr for CNAA.L. Their correlation of 0.87 suggests significant overlap in exposure. CNEW.L charges 0.60%/yr vs 0.35%/yr for CNAA.L.
Performance
CNEW.L vs. CNAA.L - Performance Comparison
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Returns By Period
In the year-to-date period, CNEW.L achieves a -9.04% return, which is significantly lower than CNAA.L's 4.27% return.
CNEW.L
- 1D
- -3.53%
- 1M
- -3.05%
- 6M
- -12.80%
- YTD
- -9.04%
- 1Y
- -3.64%
- 3Y*
- 0.83%
- 5Y*
- —
- 10Y*
- —
CNAA.L
- 1D
- -2.29%
- 1M
- -5.55%
- 6M
- 1.58%
- YTD
- 4.27%
- 1Y
- 24.38%
- 3Y*
- 9.60%
- 5Y*
- -1.30%
- 10Y*
- 4.25%
CNEW.L vs. CNAA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CNEW.L VanEck New China UCITS ETF | -9.04% | 23.92% | -0.36% | -9.27% | -28.05% | 6.19% |
CNAA.L Lyxor Fortune SG UCITS MSCI China A DR | 4.27% | 26.12% | 10.92% | -14.19% | -25.98% | 4.17% |
Correlation
The correlation between CNEW.L and CNAA.L is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021 | 0.87 |
The correlation between CNEW.L and CNAA.L has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.
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Return for Risk
CNEW.L vs. CNAA.L — Risk / Return Rank
CNEW.L
CNAA.L
CNEW.L vs. CNAA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck New China UCITS ETF (CNEW.L) and Lyxor Fortune SG UCITS MSCI China A DR (CNAA.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.
| CNEW.L | CNAA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.52 | ||
| Sortino ratioReturn per unit of downside risk | -2.06 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.24 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.22 | 3.17 | -3.39 |
| Martin ratioReturn relative to average drawdown | -0.46 | 8.38 | -8.84 |
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Drawdowns
CNEW.L vs. CNAA.L - Drawdown Comparison
The maximum CNEW.L drawdown since its inception was -46.53%, smaller than the maximum CNAA.L drawdown of -56.07%. Use the drawdown chart below to compare losses from any high point for CNEW.L and CNAA.L.
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Drawdown Indicators
| CNEW.L | CNAA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.53% | -56.07% | +9.54% |
Max Drawdown (1Y)Largest decline over 1 year | -16.41% | -8.01% | -8.40% |
Max Drawdown (3Y)Largest decline over 3 years | -28.03% | -28.67% | +0.64% |
Max Drawdown (5Y)Largest decline over 5 years | — | -44.54% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.66% | — |
Current DrawdownCurrent decline from peak | -26.90% | -17.89% | -9.01% |
Average DrawdownAverage peak-to-trough decline | -26.52% | -32.77% | +6.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.86% | 3.03% | +4.83% |
Volatility
CNEW.L vs. CNAA.L - Volatility Comparison
The current volatility for VanEck New China UCITS ETF (CNEW.L) is 6.75%, while Lyxor Fortune SG UCITS MSCI China A DR (CNAA.L) has a volatility of 8.82%. This indicates that CNEW.L experiences smaller price fluctuations and is considered to be less risky than CNAA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNEW.L | CNAA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.75% | 8.82% | -2.07% |
Volatility (6M)Calculated over the trailing 6-month period | 13.18% | 14.97% | -1.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.94% | 19.23% | -1.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.27% | 22.75% | +2.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.27% | 22.59% | +2.68% |
CNEW.L vs. CNAA.L - Expense Ratio Comparison
CNEW.L has a 0.60% expense ratio, which is higher than CNAA.L's 0.35% expense ratio.
Dividends
CNEW.L vs. CNAA.L - Dividend Comparison
Neither CNEW.L nor CNAA.L has paid dividends to shareholders.
Frequently Asked Questions
CNEW.L and CNAA.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNAA.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNAA.L is cheaper with a 0.35% expense ratio, compared with 0.60% for CNEW.L.
CNEW.L tracks MarketGrader New China Screened Index, while CNAA.L tracks MSCI China A Onshore NR CNY. They also come from different issuers: VanEck and Amundi. Their fees differ too: 0.60% for CNEW.L and 0.35% for CNAA.L.
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