CNYA.L vs. FLXC.L
CNYA.L (iShares MSCI China A UCITS ETF USD (Acc)) and FLXC.L (Franklin FTSE China UCITS ETF) are both China Equities funds - CNYA.L tracks the MSCI China A Inclusion Index (Net) while FLXC.L tracks the MSCI China NR USD. Both are passively managed. Over the past 5 years, CNYA.L returned -1.29%/yr vs -4.32%/yr for FLXC.L. A 0.77 correlation means they provide meaningful diversification when combined. CNYA.L charges 0.40%/yr vs 0.19%/yr for FLXC.L.
Performance
CNYA.L vs. FLXC.L - Performance Comparison
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Returns By Period
In the year-to-date period, CNYA.L achieves a 4.12% return, which is significantly higher than FLXC.L's -8.35% 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%
FLXC.L
- 1D
- 1.78%
- 1M
- -1.33%
- 6M
- -12.83%
- YTD
- -8.35%
- 1Y
- 0.10%
- 3Y*
- 8.62%
- 5Y*
- -4.32%
- 10Y*
- —
CNYA.L vs. FLXC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CNYA.L iShares MSCI China A UCITS ETF USD (Acc) | 4.12% | 26.26% | 11.19% | -14.20% | -26.19% | 3.18% | 42.31% | 13.62% |
FLXC.L Franklin FTSE China UCITS ETF | -8.35% | 32.15% | 19.39% | -12.76% | -23.03% | -20.35% | 31.22% | 17.62% |
Correlation
The correlation between CNYA.L and FLXC.L is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019 | 0.77 |
The correlation between CNYA.L and FLXC.L has been stable across timeframes, ranging from 0.68 to 0.77 - a consistent structural relationship.
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Return for Risk
CNYA.L vs. FLXC.L — Risk / Return Rank
CNYA.L
FLXC.L
CNYA.L vs. FLXC.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 Franklin FTSE China UCITS ETF (FLXC.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 | FLXC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.02 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | 0.00 | +3.13 |
| Martin ratioReturn relative to average drawdown | 8.30 | 0.01 | +8.29 |
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Drawdowns
CNYA.L vs. FLXC.L - Drawdown Comparison
The maximum CNYA.L drawdown since its inception was -52.23%, smaller than the maximum FLXC.L drawdown of -61.74%. Use the drawdown chart below to compare losses from any high point for CNYA.L and FLXC.L.
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Drawdown Indicators
| CNYA.L | FLXC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.23% | -61.74% | +9.51% |
Max Drawdown (1Y)Largest decline over 1 year | -8.00% | -21.43% | +13.43% |
Max Drawdown (3Y)Largest decline over 3 years | -27.99% | -25.43% | -2.56% |
Max Drawdown (5Y)Largest decline over 5 years | -44.56% | -52.70% | +8.14% |
Max Drawdown (10Y)Largest decline over 10 years | -49.31% | — | — |
Current DrawdownCurrent decline from peak | -17.02% | -35.12% | +18.10% |
Average DrawdownAverage peak-to-trough decline | -32.14% | -31.72% | -0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 9.74% | -6.72% |
Volatility
CNYA.L vs. FLXC.L - Volatility Comparison
iShares MSCI China A UCITS ETF USD (Acc) (CNYA.L) has a higher volatility of 8.85% compared to Franklin FTSE China UCITS ETF (FLXC.L) at 5.29%. This indicates that CNYA.L's price experiences larger fluctuations and is considered to be riskier than FLXC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNYA.L | FLXC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.85% | 5.29% | +3.56% |
Volatility (6M)Calculated over the trailing 6-month period | 15.06% | 13.77% | +1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.35% | 19.09% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.90% | 28.40% | -5.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.89% | 27.19% | -4.30% |
CNYA.L vs. FLXC.L - Expense Ratio Comparison
CNYA.L has a 0.40% expense ratio, which is higher than FLXC.L's 0.19% expense ratio.
Dividends
CNYA.L vs. FLXC.L - Dividend Comparison
Neither CNYA.L nor FLXC.L has paid dividends to shareholders.
Frequently Asked Questions
CNYA.L and FLXC.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLXC.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLXC.L is cheaper with a 0.19% expense ratio, compared with 0.40% for CNYA.L.
CNYA.L tracks MSCI China A Inclusion Index (Net), while FLXC.L tracks MSCI China NR USD. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.40% for CNYA.L and 0.19% for FLXC.L.
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