CNEW.L vs. HMCT.L
CNEW.L (VanEck New China UCITS ETF) and HMCT.L (HSBC MSCI CHINA A UCITS ETF) are both China Equities funds - CNEW.L tracks the MarketGrader New China Screened Index while HMCT.L tracks the MSCI China A Onshore NR CNY. Both are passively managed. Over the past 3 years, CNEW.L returned 1.29%/yr vs 10.41%/yr for HMCT.L. Their correlation of 0.88 suggests significant overlap in exposure. CNEW.L charges 0.60%/yr vs 0.30%/yr for HMCT.L.
Performance
CNEW.L vs. HMCT.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 HMCT.L's 7.12% return.
CNEW.L
- 1D
- 2.09%
- 1M
- -1.23%
- 6M
- -10.84%
- YTD
- -6.01%
- 1Y
- 1.38%
- 3Y*
- 1.29%
- 5Y*
- —
- 10Y*
- —
HMCT.L
- 1D
- 2.55%
- 1M
- -2.13%
- 6M
- 4.02%
- YTD
- 7.12%
- 1Y
- 28.55%
- 3Y*
- 10.41%
- 5Y*
- -0.90%
- 10Y*
- —
CNEW.L vs. HMCT.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% |
HMCT.L HSBC MSCI CHINA A UCITS ETF | 7.12% | 25.91% | 11.74% | -13.89% | -25.90% | 4.21% |
Correlation
The correlation between CNEW.L and HMCT.L is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021 | 0.88 |
The correlation between CNEW.L and HMCT.L has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.
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Return for Risk
CNEW.L vs. HMCT.L — Risk / Return Rank
CNEW.L
HMCT.L
CNEW.L vs. HMCT.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck New China UCITS ETF (CNEW.L) and HSBC MSCI CHINA A UCITS ETF (HMCT.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 | HMCT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.40 | ||
| Sortino ratioReturn per unit of downside risk | -1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.27 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.08 | 3.69 | -3.60 |
| Martin ratioReturn relative to average drawdown | 0.18 | 9.39 | -9.22 |
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Drawdowns
CNEW.L vs. HMCT.L - Drawdown Comparison
The maximum CNEW.L drawdown since its inception was -46.53%, smaller than the maximum HMCT.L drawdown of -49.07%. Use the drawdown chart below to compare losses from any high point for CNEW.L and HMCT.L.
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Drawdown Indicators
| CNEW.L | HMCT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.53% | -49.07% | +2.54% |
Max Drawdown (1Y)Largest decline over 1 year | -16.41% | -7.57% | -8.84% |
Max Drawdown (3Y)Largest decline over 3 years | -28.03% | -28.42% | +0.39% |
Max Drawdown (5Y)Largest decline over 5 years | — | -44.11% | — |
Current DrawdownCurrent decline from peak | -24.46% | -14.10% | -10.36% |
Average DrawdownAverage peak-to-trough decline | -26.53% | -21.48% | -5.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.75% | 2.98% | +4.77% |
Volatility
CNEW.L vs. HMCT.L - Volatility Comparison
The current volatility for VanEck New China UCITS ETF (CNEW.L) is 5.71%, while HSBC MSCI CHINA A UCITS ETF (HMCT.L) has a volatility of 8.60%. This indicates that CNEW.L experiences smaller price fluctuations and is considered to be less risky than HMCT.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 | HMCT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.71% | 8.60% | -2.89% |
Volatility (6M)Calculated over the trailing 6-month period | 12.83% | 14.67% | -1.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.60% | 18.92% | -1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.24% | 22.66% | +2.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.24% | 23.77% | +1.47% |
CNEW.L vs. HMCT.L - Expense Ratio Comparison
CNEW.L has a 0.60% expense ratio, which is higher than HMCT.L's 0.30% expense ratio.
Dividends
CNEW.L vs. HMCT.L - Dividend Comparison
CNEW.L has not paid dividends to shareholders, while HMCT.L's dividend yield for the trailing twelve months is around 1.70%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CNEW.L VanEck New China UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HMCT.L HSBC MSCI CHINA A UCITS ETF | 1.70% | 1.73% | 2.03% | 2.16% | 1.69% | 1.12% | 0.84% | 1.71% | 0.29% |
Frequently Asked Questions
CNEW.L and HMCT.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HMCT.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HMCT.L is cheaper with a 0.30% expense ratio, compared with 0.60% for CNEW.L.
CNEW.L tracks MarketGrader New China Screened Index, while HMCT.L tracks MSCI China A Onshore NR CNY. They also come from different issuers: VanEck and HSBC. Their fees differ too: 0.60% for CNEW.L and 0.30% for HMCT.L.
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