CNUA.DE vs. MCHI
CNUA.DE (UBS ETF (IE) MSCI China A SF UCITS ETF (USD) A-acc) and MCHI (iShares MSCI China ETF) are both China Equities funds - CNUA.DE tracks the MSCI China A Onshore NR CNY while MCHI tracks the MSCI China Index. Both are passively managed. Over the past 5 years, CNUA.DE returned 3.68%/yr vs -5.17%/yr for MCHI. A 0.64 correlation means they provide meaningful diversification when combined. CNUA.DE charges 0.30%/yr vs 0.59%/yr for MCHI.
Performance
CNUA.DE vs. MCHI - Performance Comparison
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Different Trading Currencies
CNUA.DE is traded in EUR, while MCHI is traded in USD. To make them comparable, the MCHI values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, CNUA.DE achieves a 13.12% return, which is significantly higher than MCHI's -7.59% return.
CNUA.DE
- 1D
- -0.03%
- 1M
- 1.29%
- YTD
- 13.12%
- 6M
- 15.08%
- 1Y
- 40.21%
- 3Y*
- 12.39%
- 5Y*
- 3.68%
- 10Y*
- —
MCHI
- 1D
- -1.53%
- 1M
- -5.44%
- YTD
- -7.59%
- 6M
- -11.13%
- 1Y
- 0.53%
- 3Y*
- 5.68%
- 5Y*
- -5.17%
- 10Y*
- 4.03%
CNUA.DE vs. MCHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CNUA.DE UBS ETF (IE) MSCI China A SF UCITS ETF (USD) A-acc | 13.12% | 15.18% | 24.15% | -14.62% | -18.77% | 18.43% | 30.72% |
MCHI iShares MSCI China ETF | -7.59% | 15.49% | 25.50% | -14.58% | -18.24% | -15.89% | 18.98% |
Correlation
The correlation between CNUA.DE and MCHI is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2020 | 0.64 |
The correlation between CNUA.DE and MCHI shifts across timeframes, from 0.54 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CNUA.DE vs. MCHI — Risk / Return Rank
CNUA.DE
MCHI
CNUA.DE vs. MCHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) MSCI China A SF UCITS ETF (USD) A-acc (CNUA.DE) and iShares MSCI China ETF (MCHI). 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.
| CNUA.DE | MCHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.43 | ||
| Sortino ratioReturn per unit of downside risk | +2.06 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.02 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 0.03 | +2.38 |
| Martin ratioReturn relative to average drawdown | 4.99 | 0.06 | +4.92 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CNUA.DE | MCHI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 0.03 | +1.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | -0.18 | +0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.15 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.14 | +0.21 |
Drawdowns
CNUA.DE vs. MCHI - Drawdown Comparison
The maximum CNUA.DE drawdown since its inception was -37.81%, smaller than the maximum MCHI drawdown of -56.70%. Use the drawdown chart below to compare losses from any high point for CNUA.DE and MCHI.
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Drawdown Indicators
| CNUA.DE | MCHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.81% | -56.70% | +18.89% |
Max Drawdown (1Y)Largest decline over 1 year | -16.76% | -16.41% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -26.63% | -24.99% | -1.64% |
Max Drawdown (5Y)Largest decline over 5 years | -37.81% | -50.19% | +12.38% |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.70% | — |
Current DrawdownCurrent decline from peak | -2.20% | -35.42% | +33.22% |
Average DrawdownAverage peak-to-trough decline | -15.12% | -21.29% | +6.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.11% | 8.16% | -0.05% |
Volatility
CNUA.DE vs. MCHI - Volatility Comparison
The current volatility for UBS ETF (IE) MSCI China A SF UCITS ETF (USD) A-acc (CNUA.DE) is 4.93%, while iShares MSCI China ETF (MCHI) has a volatility of 6.61%. This indicates that CNUA.DE experiences smaller price fluctuations and is considered to be less risky than MCHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNUA.DE | MCHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.93% | 6.61% | -1.68% |
Volatility (6M)Calculated over the trailing 6-month period | 11.91% | 13.86% | -1.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.65% | 19.65% | +8.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.09% | 29.35% | -4.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.24% | 26.68% | -0.44% |
CNUA.DE vs. MCHI - Expense Ratio Comparison
CNUA.DE has a 0.30% expense ratio, which is lower than MCHI's 0.59% expense ratio.
Dividends
CNUA.DE vs. MCHI - Dividend Comparison
CNUA.DE has not paid dividends to shareholders, while MCHI's dividend yield for the trailing twelve months is around 2.33%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNUA.DE UBS ETF (IE) MSCI China A SF UCITS ETF (USD) A-acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MCHI iShares MSCI China ETF | 2.33% | 2.12% | 2.31% | 2.66% | 1.78% | 1.04% | 1.04% | 1.45% | 1.60% | 1.56% | 1.66% | 2.76% |
Frequently Asked Questions
CNUA.DE and MCHI have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CNUA.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CNUA.DE is cheaper with a 0.30% expense ratio, compared with 0.59% for MCHI.
CNUA.DE tracks MSCI China A Onshore NR CNY, while MCHI tracks MSCI China Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.30% for CNUA.DE and 0.59% for MCHI.
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