CNEW.L vs. FLQA.L
CNEW.L (VanEck New China UCITS ETF) and FLQA.L (Franklin FTSE Asia ex China ex Japan UCITS ETF) are both China Equities funds - CNEW.L tracks the MarketGrader New China Screened Index while FLQA.L tracks the Franklin FTSE Asia ex China ex Japan UCITS ETF. Both are passively managed. Over the past 3 years, CNEW.L returned 1.29%/yr vs 25.15%/yr for FLQA.L. A 0.51 correlation means they provide meaningful diversification when combined. CNEW.L charges 0.60%/yr vs 0.14%/yr for FLQA.L.
Performance
CNEW.L vs. FLQA.L - Performance Comparison
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Returns By Period
In the year-to-date period, CNEW.L achieves a -6.01% return, which is significantly lower than FLQA.L's 32.52% return.
CNEW.L
- 1D
- 2.09%
- 1M
- -1.23%
- 6M
- -10.84%
- YTD
- -6.01%
- 1Y
- 1.38%
- 3Y*
- 1.29%
- 5Y*
- —
- 10Y*
- —
FLQA.L
- 1D
- -1.74%
- 1M
- -9.13%
- 6M
- 26.58%
- YTD
- 32.52%
- 1Y
- 52.26%
- 3Y*
- 25.15%
- 5Y*
- 12.63%
- 10Y*
- —
CNEW.L vs. FLQA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CNEW.L VanEck New China UCITS ETF | -6.01% | 23.92% | -0.36% | -9.27% | -28.05% | 6.19% |
FLQA.L Franklin FTSE Asia ex China ex Japan UCITS ETF | 32.52% | 29.84% | 7.76% | 12.02% | -12.93% | 1.18% |
Correlation
The correlation between CNEW.L and FLQA.L is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021 | 0.51 |
The correlation between CNEW.L and FLQA.L has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.
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Return for Risk
CNEW.L vs. FLQA.L — Risk / Return Rank
CNEW.L
FLQA.L
CNEW.L vs. FLQA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck New China UCITS ETF (CNEW.L) and Franklin FTSE Asia ex China ex Japan UCITS ETF (FLQA.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 | FLQA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.98 | ||
| Sortino ratioReturn per unit of downside risk | -2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.37 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 0.08 | 3.75 | -3.67 |
| Martin ratioReturn relative to average drawdown | 0.18 | 11.86 | -11.69 |
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Drawdowns
CNEW.L vs. FLQA.L - Drawdown Comparison
The maximum CNEW.L drawdown since its inception was -46.53%, which is greater than FLQA.L's maximum drawdown of -29.21%. Use the drawdown chart below to compare losses from any high point for CNEW.L and FLQA.L.
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Drawdown Indicators
| CNEW.L | FLQA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.53% | -29.21% | -17.32% |
Max Drawdown (1Y)Largest decline over 1 year | -16.41% | -13.77% | -2.64% |
Max Drawdown (3Y)Largest decline over 3 years | -28.03% | -22.19% | -5.84% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.38% | — |
Current DrawdownCurrent decline from peak | -24.46% | -12.64% | -11.82% |
Average DrawdownAverage peak-to-trough decline | -26.53% | -7.22% | -19.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.75% | 4.36% | +3.39% |
Volatility
CNEW.L vs. FLQA.L - Volatility Comparison
The current volatility for VanEck New China UCITS ETF (CNEW.L) is 5.71%, while Franklin FTSE Asia ex China ex Japan UCITS ETF (FLQA.L) has a volatility of 11.18%. This indicates that CNEW.L experiences smaller price fluctuations and is considered to be less risky than FLQA.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 | FLQA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.71% | 11.18% | -5.47% |
Volatility (6M)Calculated over the trailing 6-month period | 12.83% | 22.99% | -10.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.60% | 25.11% | -7.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.24% | 17.74% | +7.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.24% | 18.52% | +6.72% |
CNEW.L vs. FLQA.L - Expense Ratio Comparison
CNEW.L has a 0.60% expense ratio, which is higher than FLQA.L's 0.14% expense ratio.
Dividends
CNEW.L vs. FLQA.L - Dividend Comparison
Neither CNEW.L nor FLQA.L has paid dividends to shareholders.
Frequently Asked Questions
CNEW.L and FLQA.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLQA.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLQA.L is cheaper with a 0.14% expense ratio, compared with 0.60% for CNEW.L.
CNEW.L tracks MarketGrader New China Screened Index, while FLQA.L tracks Franklin FTSE Asia ex China ex Japan UCITS ETF. They also come from different issuers: VanEck and Franklin. Their fees differ too: 0.60% for CNEW.L and 0.14% for FLQA.L.
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