CNEW.L vs. JREC.L
CNEW.L (VanEck New China UCITS ETF) and JREC.L (JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc)) are both China Equities funds. CNEW.L is passively managed, while JREC.L is actively managed. Over the past 3 years, CNEW.L returned 1.29%/yr vs 11.15%/yr for JREC.L. Their correlation of 0.83 suggests significant overlap in exposure.
Performance
CNEW.L vs. JREC.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 JREC.L's 9.52% return.
CNEW.L
- 1D
- 2.09%
- 1M
- -1.23%
- 6M
- -10.84%
- YTD
- -6.01%
- 1Y
- 1.38%
- 3Y*
- 1.29%
- 5Y*
- —
- 10Y*
- —
JREC.L
- 1D
- -0.77%
- 1M
- -1.91%
- 6M
- 6.51%
- YTD
- 9.52%
- 1Y
- 32.83%
- 3Y*
- 11.15%
- 5Y*
- —
- 10Y*
- —
CNEW.L vs. JREC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CNEW.L VanEck New China UCITS ETF | -6.01% | 23.92% | -0.36% | -9.27% | -19.38% |
JREC.L JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) | 9.52% | 28.38% | 9.65% | -13.02% | -19.50% |
Correlation
The correlation between CNEW.L and JREC.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 | 0.85 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022 | 0.83 |
The correlation between CNEW.L and JREC.L has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.
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Return for Risk
CNEW.L vs. JREC.L — Risk / Return Rank
CNEW.L
JREC.L
CNEW.L vs. JREC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck New China UCITS ETF (CNEW.L) and JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREC.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 | JREC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.66 | ||
| Sortino ratioReturn per unit of downside risk | -2.24 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.31 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.08 | 4.53 | -4.44 |
| Martin ratioReturn relative to average drawdown | 0.18 | 12.00 | -11.83 |
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Drawdowns
CNEW.L vs. JREC.L - Drawdown Comparison
The maximum CNEW.L drawdown since its inception was -46.53%, which is greater than JREC.L's maximum drawdown of -37.92%. Use the drawdown chart below to compare losses from any high point for CNEW.L and JREC.L.
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Drawdown Indicators
| CNEW.L | JREC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.53% | -37.92% | -8.61% |
Max Drawdown (1Y)Largest decline over 1 year | -16.41% | -7.22% | -9.19% |
Max Drawdown (3Y)Largest decline over 3 years | -28.03% | -27.06% | -0.97% |
Current DrawdownCurrent decline from peak | -24.46% | -5.30% | -19.16% |
Average DrawdownAverage peak-to-trough decline | -26.53% | -18.94% | -7.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.75% | 2.73% | +5.02% |
Volatility
CNEW.L vs. JREC.L - Volatility Comparison
The current volatility for VanEck New China UCITS ETF (CNEW.L) is 5.71%, while JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREC.L) has a volatility of 8.90%. This indicates that CNEW.L experiences smaller price fluctuations and is considered to be less risky than JREC.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 | JREC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.71% | 8.90% | -3.19% |
Volatility (6M)Calculated over the trailing 6-month period | 12.83% | 14.69% | -1.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.60% | 18.76% | -1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.24% | 23.02% | +2.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.24% | 23.02% | +2.22% |
Dividends
CNEW.L vs. JREC.L - Dividend Comparison
Neither CNEW.L nor JREC.L has paid dividends to shareholders.
Frequently Asked Questions
CNEW.L and JREC.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.
They also come from different issuers: VanEck and ETF Issuer.
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