CNYA.L vs. CA3S.L
CNYA.L (iShares MSCI China A UCITS ETF USD (Acc)) and CA3S.L (Invesco S&P China A 300 Swap UCITS ETF Acc) are both China Equities funds - CNYA.L tracks the MSCI China A Inclusion Index (Net) while CA3S.L tracks the MSCI China A Onshore NR CNY. Both are passively managed. Over the past 3 years, CNYA.L returned 9.63%/yr vs 15.52%/yr for CA3S.L. Their correlation of 0.90 suggests significant overlap in exposure. CNYA.L charges 0.40%/yr vs 0.35%/yr for CA3S.L.
Performance
CNYA.L vs. CA3S.L - Performance Comparison
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Different Trading Currencies
CNYA.L is traded in USD, while CA3S.L is traded in GBp. To make them comparable, the CA3S.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CNYA.L achieves a 4.12% return, which is significantly lower than CA3S.L's 12.04% return.
CNYA.L
- 1D
- -2.16%
- 1M
- -4.94%
- 6M
- 0.97%
- YTD
- 4.12%
- 1Y
- 25.16%
- 3Y*
- 9.63%
- 5Y*
- -1.29%
- 10Y*
- 5.34%
CA3S.L
- 1D
- 3.06%
- 1M
- -1.72%
- 6M
- 9.27%
- YTD
- 12.04%
- 1Y
- 38.19%
- 3Y*
- 15.52%
- 5Y*
- —
- 10Y*
- —
CNYA.L vs. CA3S.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CNYA.L iShares MSCI China A UCITS ETF USD (Acc) | 4.12% | 26.26% | 11.19% | -14.20% | -2.44% |
CA3S.L Invesco S&P China A 300 Swap UCITS ETF Acc | 12.04% | 34.07% | 14.71% | -12.23% | 7,752.02% |
Correlation
The correlation between CNYA.L and CA3S.L is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since May 5, 2022 | 0.90 |
The correlation between CNYA.L and CA3S.L has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.
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Return for Risk
CNYA.L vs. CA3S.L — Risk / Return Rank
CNYA.L
CA3S.L
CNYA.L vs. CA3S.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China A UCITS ETF USD (Acc) (CNYA.L) and Invesco S&P China A 300 Swap UCITS ETF Acc (CA3S.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.
| CNYA.L | CA3S.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | -135.82 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 63.06 | -61.82 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | 0.38 | +2.75 |
| Martin ratioReturn relative to average drawdown | 8.30 | 1.49 | +6.81 |
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Drawdowns
CNYA.L vs. CA3S.L - Drawdown Comparison
The maximum CNYA.L drawdown since its inception was -52.23%, smaller than the maximum CA3S.L drawdown of -99.22%. Use the drawdown chart below to compare losses from any high point for CNYA.L and CA3S.L.
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Drawdown Indicators
| CNYA.L | CA3S.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.23% | -99.22% | +46.99% |
Max Drawdown (1Y)Largest decline over 1 year | -8.00% | -99.22% | +91.22% |
Max Drawdown (3Y)Largest decline over 3 years | -27.99% | -99.22% | +71.23% |
Max Drawdown (5Y)Largest decline over 5 years | -44.56% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -49.31% | — | — |
Current DrawdownCurrent decline from peak | -17.02% | -13.56% | -3.46% |
Average DrawdownAverage peak-to-trough decline | -32.14% | -17.63% | -14.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 25.52% | -22.50% |
Volatility
CNYA.L vs. CA3S.L - Volatility Comparison
iShares MSCI China A UCITS ETF USD (Acc) (CNYA.L) and Invesco S&P China A 300 Swap UCITS ETF Acc (CA3S.L) have volatilities of 8.85% and 9.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNYA.L | CA3S.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.85% | 9.26% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 15.06% | 923.43% | -908.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.35% | 13,935.14% | -13,915.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.90% | 7,838.80% | -7,815.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.89% | 7,838.80% | -7,815.91% |
CNYA.L vs. CA3S.L - Expense Ratio Comparison
CNYA.L has a 0.40% expense ratio, which is higher than CA3S.L's 0.35% expense ratio.
Dividends
CNYA.L vs. CA3S.L - Dividend Comparison
Neither CNYA.L nor CA3S.L has paid dividends to shareholders.
Frequently Asked Questions
CNYA.L and CA3S.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CA3S.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CA3S.L is cheaper with a 0.35% expense ratio, compared with 0.40% for CNYA.L.
CNYA.L tracks MSCI China A Inclusion Index (Net), while CA3S.L tracks MSCI China A Onshore NR CNY. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.40% for CNYA.L and 0.35% for CA3S.L.
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