CNUA.DE vs. MCHN.DE
CNUA.DE (UBS ETF (IE) MSCI China A SF UCITS ETF (USD) A-acc) and MCHN.DE (Invesco MSCI China All Shares Stock Connect UCITS ETF Acc) are both China Equities funds - CNUA.DE tracks the MSCI China A Onshore NR CNY while MCHN.DE tracks the MSCI China All Shares Stock Connect Select. Both are passively managed. Over the past 5 years, CNUA.DE returned 3.68%/yr vs -2.96%/yr for MCHN.DE. A 0.80 correlation means they provide meaningful diversification when combined. CNUA.DE charges 0.30%/yr vs 0.35%/yr for MCHN.DE.
Performance
CNUA.DE vs. MCHN.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CNUA.DE achieves a 13.12% return, which is significantly higher than MCHN.DE's -0.35% 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*
- —
MCHN.DE
- 1D
- -0.22%
- 1M
- -1.36%
- YTD
- -0.35%
- 6M
- -1.47%
- 1Y
- 12.33%
- 3Y*
- 7.98%
- 5Y*
- -2.96%
- 10Y*
- —
CNUA.DE vs. MCHN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CNUA.DE UBS ETF (IE) MSCI China A SF UCITS ETF (USD) A-acc | 13.12% | 15.18% | 24.15% | -14.62% | -18.77% | 15.29% |
MCHN.DE Invesco MSCI China All Shares Stock Connect UCITS ETF Acc | -0.35% | 13.01% | 25.16% | -15.29% | -18.40% | -11.12% |
Correlation
The correlation between CNUA.DE and MCHN.DE is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021 | 0.80 |
The correlation between CNUA.DE and MCHN.DE has been stable across timeframes, ranging from 0.72 to 0.80 - a consistent structural relationship.
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Return for Risk
CNUA.DE vs. MCHN.DE — Risk / Return Rank
CNUA.DE
MCHN.DE
CNUA.DE vs. MCHN.DE - 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 Invesco MSCI China All Shares Stock Connect UCITS ETF Acc (MCHN.DE). 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 | MCHN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.14 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 1.13 | +1.28 |
| Martin ratioReturn relative to average drawdown | 4.99 | 2.63 | +2.36 |
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 | MCHN.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 0.75 | +0.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | -0.12 | +0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | -0.11 | +0.46 |
Drawdowns
CNUA.DE vs. MCHN.DE - Drawdown Comparison
The maximum CNUA.DE drawdown since its inception was -37.81%, smaller than the maximum MCHN.DE drawdown of -45.79%. Use the drawdown chart below to compare losses from any high point for CNUA.DE and MCHN.DE.
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Drawdown Indicators
| CNUA.DE | MCHN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.81% | -45.79% | +7.98% |
Max Drawdown (1Y)Largest decline over 1 year | -16.76% | -11.21% | -5.55% |
Max Drawdown (3Y)Largest decline over 3 years | -26.63% | -23.24% | -3.39% |
Max Drawdown (5Y)Largest decline over 5 years | -37.81% | -45.54% | +7.73% |
Current DrawdownCurrent decline from peak | -2.20% | -16.30% | +14.10% |
Average DrawdownAverage peak-to-trough decline | -15.12% | -24.07% | +8.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.11% | 4.81% | +3.30% |
Volatility
CNUA.DE vs. MCHN.DE - Volatility Comparison
The current volatility for UBS ETF (IE) MSCI China A SF UCITS ETF (USD) A-acc (CNUA.DE) is 4.93%, while Invesco MSCI China All Shares Stock Connect UCITS ETF Acc (MCHN.DE) has a volatility of 6.52%. This indicates that CNUA.DE experiences smaller price fluctuations and is considered to be less risky than MCHN.DE 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 | MCHN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.93% | 6.52% | -1.59% |
Volatility (6M)Calculated over the trailing 6-month period | 11.91% | 11.75% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.65% | 16.86% | +10.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.09% | 25.04% | +0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.24% | 24.77% | +1.47% |
CNUA.DE vs. MCHN.DE - Expense Ratio Comparison
CNUA.DE has a 0.30% expense ratio, which is lower than MCHN.DE's 0.35% expense ratio.
Dividends
CNUA.DE vs. MCHN.DE - Dividend Comparison
Neither CNUA.DE nor MCHN.DE has paid dividends to shareholders.
Frequently Asked Questions
CNUA.DE and MCHN.DE have a correlation of 0.72, 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 0.35% for MCHN.DE.
CNUA.DE tracks MSCI China A Onshore NR CNY, while MCHN.DE tracks MSCI China All Shares Stock Connect Select. They also come from different issuers: UBS and Invesco. Their fees differ too: 0.30% for CNUA.DE and 0.35% for MCHN.DE.
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