CNEW.L vs. TREG.L

Last updated Jul 16, 2026

CNEW.L (VanEck New China UCITS ETF) and TREG.L (VanEck Global Real Estate UCITS ETF) are both exchange-traded funds - CNEW.L is a China Equities fund tracking the MarketGrader New China Screened Index, while TREG.L is a REIT fund tracking the FTSE EPRA Nareit Global TR USD. Both are passively managed. Over the past 3 years, CNEW.L returned 1.29%/yr vs 11.09%/yr for TREG.L. At a 0.24 correlation, their price movements are largely independent. CNEW.L charges 0.60%/yr vs 0.25%/yr for TREG.L.

Performance

CNEW.L vs. TREG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck New China UCITS ETF (CNEW.L) and VanEck Global Real Estate UCITS ETF (TREG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CNEW.L is traded in USD, while TREG.L is traded in GBP. To make them comparable, the TREG.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CNEW.L achieves a -6.01% return, which is significantly lower than TREG.L's 9.88% return.

CNEW.L

• 1D: 2.09%
• 1M: -1.23%
• 6M: -10.84%
• YTD: -6.01%
• 1Y: 1.38%
• 3Y*: 1.29%
• 5Y*: —
• 10Y*: —

TREG.L

• 1D: 0.32%
• 1M: 1.74%
• 6M: 8.50%
• YTD: 9.88%
• 1Y: 16.50%
• 3Y*: 11.09%
• 5Y*: 2.86%
• 10Y*: 2.16%

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

CNEW.L vs. TREG.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%
TREG.L VanEck Global Real Estate UCITS ETF	9.88%	14.68%	1.06%	13.30%	-25.65%	7.20%

Correlation

The correlation between CNEW.L and TREG.L is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021	0.24

Return for Risk

CNEW.L vs. TREG.L — Risk / Return Rank

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

CNEW.L

CNEW.L Risk / Return Rank: 10
CNEW.L Sharpe Ratio Rank: 11
CNEW.L Sortino Ratio Rank: 10
CNEW.L Omega Ratio Rank: 10
CNEW.L Calmar Ratio Rank: 10
CNEW.L Martin Ratio Rank: 10

TREG.L

TREG.L Risk / Return Rank: 42
TREG.L Sharpe Ratio Rank: 45
TREG.L Sortino Ratio Rank: 46
TREG.L Omega Ratio Rank: 40
TREG.L Calmar Ratio Rank: 38
TREG.L Martin Ratio Rank: 39

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.L vs. TREG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck New China UCITS ETF (CNEW.L) and VanEck Global Real Estate UCITS ETF (TREG.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	TREG.L	Difference
Sharpe ratio: Return per unit of total volatility	0.08	1.32	-1.25
Sortino ratio: Return per unit of downside risk	0.23	1.93	-1.70
Omega ratio: Gain probability vs. loss probability	1.03	1.23	-0.20
Calmar ratio: Return relative to maximum drawdown	0.08	1.50	-1.42
Martin ratio: Return relative to average drawdown	0.18	5.11	-4.93

CNEW.L vs. TREG.L - Sharpe Ratio Comparison

The current CNEW.L Sharpe Ratio is 0.08, which is lower than the TREG.L Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of CNEW.L and TREG.L, 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.L vs. TREG.L - Drawdown Comparison

The maximum CNEW.L drawdown since its inception was -46.53%, smaller than the maximum TREG.L drawdown of -52.53%. Use the drawdown chart below to compare losses from any high point for CNEW.L and TREG.L.

Drawdown Indicators

	CNEW.L	TREG.L	Difference
Max Drawdown Largest peak-to-trough decline	-46.53%	-52.53%	+6.00%
Max Drawdown (1Y) Largest decline over 1 year	-16.41%	-10.92%	-5.49%
Max Drawdown (3Y) Largest decline over 3 years	-28.03%	-17.05%	-10.98%
Max Drawdown (5Y) Largest decline over 5 years	—	-33.44%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-43.09%	—
Current Drawdown Current decline from peak	-24.46%	-0.98%	-23.48%
Average Drawdown Average peak-to-trough decline	-26.53%	-16.86%	-9.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.75%	3.22%	+4.53%

Volatility

CNEW.L vs. TREG.L - Volatility Comparison

VanEck New China UCITS ETF (CNEW.L) has a higher volatility of 5.71% compared to VanEck Global Real Estate UCITS ETF (TREG.L) at 3.73%. This indicates that CNEW.L's price experiences larger fluctuations and is considered to be riskier than TREG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNEW.L	TREG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.71%	3.73%	+1.98%
Volatility (6M) Calculated over the trailing 6-month period	12.83%	10.17%	+2.66%
Volatility (1Y) Calculated over the trailing 1-year period	17.60%	12.43%	+5.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.24%	16.74%	+8.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.24%	18.15%	+7.09%

CNEW.L vs. TREG.L - Expense Ratio Comparison

CNEW.L has a 0.60% expense ratio, which is higher than TREG.L's 0.25% expense ratio.

Dividends

CNEW.L vs. TREG.L - Dividend Comparison

CNEW.L has not paid dividends to shareholders, while TREG.L's dividend yield for the trailing twelve months is around 3.34%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%	0.00%
TREG.L VanEck Global Real Estate UCITS ETF	3.34%	3.57%	3.48%	3.64%	4.54%	1.82%	4.49%	3.41%	3.83%	2.79%

Frequently Asked Questions

Can I hold both CNEW.L and TREG.L in my portfolio?

CNEW.L and TREG.L have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CNEW.L or TREG.L?

On fees, TREG.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CNEW.L or TREG.L?

TREG.L is cheaper with a 0.25% expense ratio, compared with 0.60% for CNEW.L.

What is the main difference between CNEW.L and TREG.L?

CNEW.L is categorized as China Equities, while TREG.L is REIT. CNEW.L tracks MarketGrader New China Screened Index, while TREG.L tracks FTSE EPRA Nareit Global TR USD. Their fees differ too: 0.60% for CNEW.L and 0.25% for TREG.L.