CNEW.L vs. XCHA.L
CNEW.L (VanEck New China UCITS ETF) and XCHA.L (Xtrackers CSI 300 Swap UCITS ETF 1C) are both China Equities funds - CNEW.L tracks the MarketGrader New China Screened Index while XCHA.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 14.18%/yr for XCHA.L. Their correlation of 0.86 suggests significant overlap in exposure. CNEW.L charges 0.60%/yr vs 0.50%/yr for XCHA.L.
Performance
CNEW.L vs. XCHA.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 XCHA.L's 9.79% return.
CNEW.L
- 1D
- 2.09%
- 1M
- -1.23%
- 6M
- -10.84%
- YTD
- -6.01%
- 1Y
- 1.38%
- 3Y*
- 1.29%
- 5Y*
- —
- 10Y*
- —
XCHA.L
- 1D
- -0.23%
- 1M
- -1.60%
- 6M
- 7.00%
- YTD
- 9.79%
- 1Y
- 33.96%
- 3Y*
- 14.18%
- 5Y*
- 2.69%
- 10Y*
- 8.65%
CNEW.L vs. XCHA.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% |
XCHA.L Xtrackers CSI 300 Swap UCITS ETF 1C | 9.79% | 30.11% | 16.00% | -11.00% | -24.25% | 6.09% |
Correlation
The correlation between CNEW.L and XCHA.L is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021 | 0.86 |
The correlation between CNEW.L and XCHA.L has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.
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Return for Risk
CNEW.L vs. XCHA.L — Risk / Return Rank
CNEW.L
XCHA.L
CNEW.L vs. XCHA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck New China UCITS ETF (CNEW.L) and Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.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 | XCHA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.72 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.32 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.08 | 4.82 | -4.73 |
| Martin ratioReturn relative to average drawdown | 0.18 | 13.29 | -13.11 |
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Drawdowns
CNEW.L vs. XCHA.L - Drawdown Comparison
The maximum CNEW.L drawdown since its inception was -46.53%, smaller than the maximum XCHA.L drawdown of -50.90%. Use the drawdown chart below to compare losses from any high point for CNEW.L and XCHA.L.
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Drawdown Indicators
| CNEW.L | XCHA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.53% | -50.90% | +4.37% |
Max Drawdown (1Y)Largest decline over 1 year | -16.41% | -7.02% | -9.39% |
Max Drawdown (3Y)Largest decline over 3 years | -28.03% | -26.85% | -1.18% |
Max Drawdown (5Y)Largest decline over 5 years | — | -39.75% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.89% | — |
Current DrawdownCurrent decline from peak | -24.46% | -4.94% | -19.52% |
Average DrawdownAverage peak-to-trough decline | -26.53% | -24.00% | -2.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.75% | 2.55% | +5.20% |
Volatility
CNEW.L vs. XCHA.L - Volatility Comparison
The current volatility for VanEck New China UCITS ETF (CNEW.L) is 5.71%, while Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.L) has a volatility of 8.65%. This indicates that CNEW.L experiences smaller price fluctuations and is considered to be less risky than XCHA.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 | XCHA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.71% | 8.65% | -2.94% |
Volatility (6M)Calculated over the trailing 6-month period | 12.83% | 14.40% | -1.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.60% | 18.83% | -1.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.24% | 22.62% | +2.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.24% | 22.77% | +2.47% |
CNEW.L vs. XCHA.L - Expense Ratio Comparison
CNEW.L has a 0.60% expense ratio, which is higher than XCHA.L's 0.50% expense ratio.
Dividends
CNEW.L vs. XCHA.L - Dividend Comparison
Neither CNEW.L nor XCHA.L has paid dividends to shareholders.
Frequently Asked Questions
CNEW.L and XCHA.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XCHA.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XCHA.L is cheaper with a 0.50% expense ratio, compared with 0.60% for CNEW.L.
CNEW.L tracks MarketGrader New China Screened Index, while XCHA.L tracks MSCI China A Onshore NR CNY. They also come from different issuers: VanEck and Xtrackers. Their fees differ too: 0.60% for CNEW.L and 0.50% for XCHA.L.
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