CNYA.L vs. HMCH.L
CNYA.L (iShares MSCI China A UCITS ETF USD (Acc)) and HMCH.L (HSBC MSCI China UCITS ETF) are both China Equities funds - CNYA.L tracks the MSCI China A Inclusion Index (Net) while HMCH.L tracks the MSCI China NR USD. Both are passively managed. Over the past 10 years, CNYA.L returned 5.05%/yr vs 4.00%/yr for HMCH.L. A 0.71 correlation means they provide meaningful diversification when combined. CNYA.L charges 0.40%/yr vs 0.30%/yr for HMCH.L.
Performance
CNYA.L vs. HMCH.L - Performance Comparison
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Different Trading Currencies
CNYA.L is traded in USD, while HMCH.L is traded in GBp. To make them comparable, the HMCH.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 0.69% return, which is significantly higher than HMCH.L's -11.87% return. Over the past 10 years, CNYA.L has outperformed HMCH.L with an annualized return of 5.05%, while HMCH.L has yielded a comparatively lower 4.00% annualized return.
CNYA.L
- 1D
- -3.49%
- 1M
- -8.65%
- 6M
- -2.19%
- YTD
- 0.69%
- 1Y
- 20.29%
- 3Y*
- 8.65%
- 5Y*
- -1.95%
- 10Y*
- 5.05%
HMCH.L
- 1D
- -2.67%
- 1M
- -0.94%
- 6M
- -14.41%
- YTD
- -11.87%
- 1Y
- -4.89%
- 3Y*
- 8.13%
- 5Y*
- -5.06%
- 10Y*
- 4.00%
CNYA.L vs. HMCH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNYA.L iShares MSCI China A UCITS ETF USD (Acc) | 0.69% | 26.26% | 11.19% | -14.20% | -26.19% | 3.18% | 42.31% | 34.76% | -26.13% | 30.21% |
HMCH.L HSBC MSCI China UCITS ETF | -11.87% | 32.14% | 18.72% | -11.92% | -22.66% | -21.77% | 28.80% | 22.52% | -19.14% | 53.59% |
Correlation
The correlation between CNYA.L and HMCH.L is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2015 | 0.71 |
The correlation between CNYA.L and HMCH.L has been stable across timeframes, ranging from 0.66 to 0.75 - a consistent structural relationship.
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Return for Risk
CNYA.L vs. HMCH.L — Risk / Return Rank
CNYA.L
HMCH.L
CNYA.L vs. HMCH.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 HSBC MSCI China UCITS ETF (HMCH.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 | HMCH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.27 | ||
| Sortino ratioReturn per unit of downside risk | +1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.98 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | -0.21 | +2.04 |
| Martin ratioReturn relative to average drawdown | 6.53 | -0.45 | +6.98 |
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Drawdowns
CNYA.L vs. HMCH.L - Drawdown Comparison
The maximum CNYA.L drawdown since its inception was -52.23%, smaller than the maximum HMCH.L drawdown of -62.58%. Use the drawdown chart below to compare losses from any high point for CNYA.L and HMCH.L.
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Drawdown Indicators
| CNYA.L | HMCH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.23% | -62.58% | +10.35% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -23.25% | +12.22% |
Max Drawdown (3Y)Largest decline over 3 years | -27.99% | -25.44% | -2.55% |
Max Drawdown (5Y)Largest decline over 5 years | -44.56% | -53.18% | +8.62% |
Max Drawdown (10Y)Largest decline over 10 years | -49.31% | -62.58% | +13.27% |
Current DrawdownCurrent decline from peak | -19.75% | -38.05% | +18.30% |
Average DrawdownAverage peak-to-trough decline | -32.14% | -23.96% | -8.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.10% | 10.78% | -7.68% |
Volatility
CNYA.L vs. HMCH.L - Volatility Comparison
iShares MSCI China A UCITS ETF USD (Acc) (CNYA.L) has a higher volatility of 9.39% compared to HSBC MSCI China UCITS ETF (HMCH.L) at 6.75%. This indicates that CNYA.L's price experiences larger fluctuations and is considered to be riskier than HMCH.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 | HMCH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.39% | 6.75% | +2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 15.41% | 14.98% | +0.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.65% | 20.19% | -0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.95% | 29.49% | -6.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.92% | 26.27% | -3.35% |
CNYA.L vs. HMCH.L - Expense Ratio Comparison
CNYA.L has a 0.40% expense ratio, which is higher than HMCH.L's 0.30% expense ratio.
Dividends
CNYA.L vs. HMCH.L - Dividend Comparison
CNYA.L has not paid dividends to shareholders, while HMCH.L's dividend yield for the trailing twelve months is around 2.26%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNYA.L iShares MSCI China A UCITS ETF USD (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% |
HMCH.L HSBC MSCI China UCITS ETF | 2.26% | 2.34% | 2.17% | 2.12% | 1.85% | 1.28% | 0.92% | 1.65% | 1.36% | 0.78% | 1.89% | 2.84% |
Frequently Asked Questions
CNYA.L and HMCH.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HMCH.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HMCH.L is cheaper with a 0.30% expense ratio, compared with 0.40% for CNYA.L.
CNYA.L tracks MSCI China A Inclusion Index (Net), while HMCH.L tracks MSCI China NR USD. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.40% for CNYA.L and 0.30% for HMCH.L.
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