CNXT vs. FLCH

Last updated Jun 5, 2026

CNXT (VanEck Vectors ChinaAMC SME-ChiNext ETF) and FLCH (Franklin FTSE China ETF) are both China Equities funds - CNXT tracks the SME-ChiNext 100 Index while FLCH tracks the FTSE China RIC Capped Index. Both are passively managed. Over the past 5 years, CNXT returned 3.96%/yr vs -4.99%/yr for FLCH. A 0.67 correlation means they provide meaningful diversification when combined. CNXT charges 0.65%/yr vs 0.19%/yr for FLCH.

Performance

CNXT vs. FLCH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT) and Franklin FTSE China ETF (FLCH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNXT achieves a 32.68% return, which is significantly higher than FLCH's -6.60% return.

CNXT

• 1D: -0.62%
• 1M: 9.11%
• YTD: 32.68%
• 6M: 39.36%
• 1Y: 114.61%
• 3Y*: 26.75%
• 5Y*: 3.96%
• 10Y*: 6.57%

FLCH

• 1D: -0.31%
• 1M: -2.97%
• YTD: -6.60%
• 6M: -7.51%
• 1Y: 5.91%
• 3Y*: 10.54%
• 5Y*: -4.99%
• 10Y*: —

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

CNXT vs. FLCH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF	32.68%	59.31%	12.42%	-21.47%	-35.58%	8.78%	63.30%	42.66%	-39.48%	-2.59%
FLCH Franklin FTSE China ETF	-6.60%	32.55%	18.00%	-11.21%	-22.74%	-20.87%	30.09%	24.32%	-19.52%	0.91%

Correlation

The correlation between CNXT and FLCH is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Nov 7, 2017	0.67

The correlation between CNXT and FLCH has been stable across timeframes, ranging from 0.64 to 0.68 - a consistent structural relationship.

CNXT vs. FLCH - Sectors Allocation Comparison

Sectors	CNXT	FLCH
Technology	43.8%	12.9%
Industrials	33.2%	9.1%
Healthcare	7.0%	5.3%
Financial Services	5.6%	18.2%
Basic Materials	4.1%	5.5%
Consumer Defensive	2.6%	3.3%
Communication Services	2.5%	14.2%
Consumer Cyclical	1.2%	23.4%
Energy	-	3.7%
Real Estate	-	1.7%
Utilities	-	2.0%

Return for Risk

CNXT vs. FLCH — Risk / Return Rank

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

CNXT

CNXT Risk / Return Rank: 93
CNXT Sharpe Ratio Rank: 95
CNXT Sortino Ratio Rank: 92
CNXT Omega Ratio Rank: 89
CNXT Calmar Ratio Rank: 96
CNXT Martin Ratio Rank: 95

FLCH

FLCH Risk / Return Rank: 14
FLCH Sharpe Ratio Rank: 14
FLCH Sortino Ratio Rank: 14
FLCH Omega Ratio Rank: 14
FLCH Calmar Ratio Rank: 14
FLCH Martin Ratio Rank: 13

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.

CNXT vs. FLCH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT) and Franklin FTSE China ETF (FLCH). 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.

	CNXT	FLCH	Difference
Sharpe ratio: Return per unit of total volatility	3.75	0.31	+3.44
Sortino ratio: Return per unit of downside risk	4.40	0.57	+3.83
Omega ratio: Gain probability vs. loss probability	1.55	1.07	+0.49
Calmar ratio: Return relative to maximum drawdown	9.44	0.38	+9.06
Martin ratio: Return relative to average drawdown	28.91	0.80	+28.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CNXT vs. FLCH - Sharpe Ratio Comparison

The current CNXT Sharpe Ratio is 3.75, which is higher than the FLCH Sharpe Ratio of 0.31. The chart below compares the historical Sharpe Ratios of CNXT and FLCH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CNXT	FLCH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.75	0.31	+3.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	-0.17	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.02	+0.21

Drawdowns

CNXT vs. FLCH - Drawdown Comparison

The maximum CNXT drawdown since its inception was -68.98%, which is greater than FLCH's maximum drawdown of -62.09%. Use the drawdown chart below to compare losses from any high point for CNXT and FLCH.

Drawdown Indicators

	CNXT	FLCH	Difference
Max Drawdown Largest peak-to-trough decline	-68.98%	-62.09%	-6.89%
Max Drawdown (1Y) Largest decline over 1 year	-12.21%	-15.52%	+3.31%
Max Drawdown (3Y) Largest decline over 3 years	-48.60%	-25.43%	-23.17%
Max Drawdown (5Y) Largest decline over 5 years	-61.21%	-55.78%	-5.43%
Max Drawdown (10Y) Largest decline over 10 years	-63.30%	—	—
Current Drawdown Current decline from peak	-2.76%	-34.16%	+31.40%
Average Drawdown Average peak-to-trough decline	-42.93%	-30.53%	-12.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.98%	7.43%	-3.45%

Volatility

CNXT vs. FLCH - Volatility Comparison

VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT) has a higher volatility of 10.30% compared to Franklin FTSE China ETF (FLCH) at 6.59%. This indicates that CNXT's price experiences larger fluctuations and is considered to be riskier than FLCH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNXT	FLCH	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.30%	6.59%	+3.71%
Volatility (6M) Calculated over the trailing 6-month period	19.99%	13.67%	+6.32%
Volatility (1Y) Calculated over the trailing 1-year period	30.73%	19.20%	+11.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.26%	29.59%	+5.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.64%	27.91%	+3.73%

CNXT vs. FLCH - Expense Ratio Comparison

CNXT has a 0.65% expense ratio, which is higher than FLCH's 0.19% expense ratio.

Dividends

CNXT vs. FLCH - Dividend Comparison

CNXT's dividend yield for the trailing twelve months is around 0.14%, less than FLCH's 2.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF	0.14%	0.18%	0.15%	0.00%	0.00%	9.22%	0.01%	0.45%	0.00%	0.19%
FLCH Franklin FTSE China ETF	2.53%	2.36%	2.87%	3.47%	2.69%	1.48%	0.91%	1.98%	1.92%	0.01%

Frequently Asked Questions

Can I hold both CNXT and FLCH in my portfolio?

CNXT and FLCH have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CNXT or FLCH?

CNXT has higher volatility (10.30%) compared to FLCH (6.59%). In terms of maximum drawdown, CNXT dropped -68.98% vs FLCH's -62.09%.

Which ETF is better, CNXT or FLCH?

On 5-year performance, CNXT leads with 3.96% vs -4.99% for FLCH. On fees, FLCH is cheaper at 0.19% per year. On volatility, FLCH has been the lower-risk option at 6.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CNXT or FLCH?

Over the 5-year period, CNXT has performed better with a 3.96% return vs -4.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CNXT or FLCH?

FLCH is cheaper with a 0.19% expense ratio, compared with 0.65% for CNXT.

Which ETF pays a higher dividend yield, CNXT or FLCH?

FLCH has the higher dividend yield at 2.53%, compared with 0.14% for CNXT.

What is the main difference between CNXT and FLCH?

CNXT tracks SME-ChiNext 100 Index, while FLCH tracks FTSE China RIC Capped Index. They also come from different issuers: VanEck and Franklin Templeton. Their fees differ too: 0.65% for CNXT and 0.19% for FLCH.

Which has better risk-adjusted returns?

CNXT currently has the higher Sharpe Ratio (3.75 vs 0.31), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.