CNYA vs. ACWI

Last updated Jun 24, 2026

CNYA (iShares MSCI China A ETF) and ACWI (iShares MSCI ACWI ETF) are both exchange-traded funds - CNYA is a China Equities fund tracking the MSCI China A Inclusion Index, while ACWI is a Global Equities fund tracking the MSCI All Country World Index. Both are passively managed. Over the past 10 years, CNYA returned 6.50%/yr vs 13.09%/yr for ACWI. At a 0.46 correlation, their price movements are largely independent. CNYA charges 0.60%/yr vs 0.32%/yr for ACWI.

Performance

CNYA vs. ACWI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI China A ETF (CNYA) and iShares MSCI ACWI ETF (ACWI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNYA achieves a 8.91% return, which is significantly lower than ACWI's 9.86% return. Over the past 10 years, CNYA has underperformed ACWI with an annualized return of 6.50%, while ACWI has yielded a comparatively higher 13.09% annualized return.

CNYA

• 1D: -2.87%
• 1M: 1.73%
• YTD: 8.91%
• 6M: 9.76%
• 1Y: 36.56%
• 3Y*: 12.14%
• 5Y*: -0.49%
• 10Y*: 6.50%

ACWI

• 1D: -2.00%
• 1M: -0.35%
• YTD: 9.86%
• 6M: 9.11%
• 1Y: 25.60%
• 3Y*: 20.00%
• 5Y*: 10.74%
• 10Y*: 13.09%

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

CNYA vs. ACWI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNYA iShares MSCI China A ETF	8.91%	26.48%	10.78%	-13.76%	-26.51%	3.53%	41.54%	35.95%	-26.56%	30.99%
ACWI iShares MSCI ACWI ETF	9.86%	22.41%	17.45%	22.27%	-18.39%	18.66%	16.34%	26.59%	-9.19%	24.33%

Correlation

The correlation between CNYA and ACWI is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jun 15, 2016	0.46

The correlation between CNYA and ACWI shifts across timeframes, from 0.35 (3 years) to 0.47 (1 year), reflecting how their relationship changes across market environments.

CNYA vs. ACWI - Sectors Allocation Comparison

Sectors	CNYA	ACWI
Technology	31.7%	33.0%
Financial Services	17.6%	15.9%
Industrials	15.4%	10.3%
Basic Materials	11.2%	3.6%
Consumer Defensive	6.8%	4.7%
Consumer Cyclical	5.2%	8.6%
Healthcare	3.9%	7.7%
Utilities	3.3%	2.7%
Energy	3.1%	3.6%
Communication Services	1.3%	8.0%
Real Estate	0.6%	1.6%

Return for Risk

CNYA vs. ACWI — Risk / Return Rank

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

CNYA

CNYA Risk / Return Rank: 70
CNYA Sharpe Ratio Rank: 64
CNYA Sortino Ratio Rank: 61
CNYA Omega Ratio Rank: 62
CNYA Calmar Ratio Rank: 88
CNYA Martin Ratio Rank: 74

ACWI

ACWI Risk / Return Rank: 58
ACWI Sharpe Ratio Rank: 58
ACWI Sortino Ratio Rank: 56
ACWI Omega Ratio Rank: 58
ACWI Calmar Ratio Rank: 55
ACWI Martin Ratio Rank: 65

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.

CNYA vs. ACWI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China A ETF (CNYA) and iShares MSCI ACWI ETF (ACWI). 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	ACWI	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.89	+0.12
Sortino ratio: Return per unit of downside risk	2.73	2.60	+0.13
Omega ratio: Gain probability vs. loss probability	1.36	1.34	+0.01
Calmar ratio: Return relative to maximum drawdown	4.84	2.64	+2.20
Martin ratio: Return relative to average drawdown	13.30	11.51	+1.79

CNYA vs. ACWI - Sharpe Ratio Comparison

The current CNYA Sharpe Ratio is 2.00, which is comparable to the ACWI Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of CNYA and ACWI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CNYA vs. ACWI - Drawdown Comparison

The maximum CNYA drawdown since its inception was -49.49%, smaller than the maximum ACWI drawdown of -56.00%. Use the drawdown chart below to compare losses from any high point for CNYA and ACWI.

Drawdown Indicators

	CNYA	ACWI	Difference
Max Drawdown Largest peak-to-trough decline	-49.49%	-56.00%	+6.51%
Max Drawdown (1Y) Largest decline over 1 year	-7.59%	-9.73%	+2.14%
Max Drawdown (3Y) Largest decline over 3 years	-33.35%	-16.55%	-16.80%
Max Drawdown (5Y) Largest decline over 5 years	-44.65%	-26.42%	-18.23%
Max Drawdown (10Y) Largest decline over 10 years	-49.49%	-33.53%	-15.96%
Current Drawdown Current decline from peak	-13.73%	-2.83%	-10.90%
Average Drawdown Average peak-to-trough decline	-20.65%	-8.59%	-12.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	2.23%	+0.53%

Volatility

CNYA vs. ACWI - Volatility Comparison

iShares MSCI China A ETF (CNYA) has a higher volatility of 7.35% compared to iShares MSCI ACWI ETF (ACWI) at 5.57%. This indicates that CNYA's price experiences larger fluctuations and is considered to be riskier than ACWI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNYA	ACWI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.35%	5.57%	+1.78%
Volatility (6M) Calculated over the trailing 6-month period	13.56%	11.38%	+2.18%
Volatility (1Y) Calculated over the trailing 1-year period	18.32%	13.64%	+4.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.91%	16.20%	+7.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.52%	17.08%	+6.44%

CNYA vs. ACWI - Expense Ratio Comparison

CNYA has a 0.60% expense ratio, which is higher than ACWI's 0.32% expense ratio.

Dividends

CNYA vs. ACWI - Dividend Comparison

CNYA's dividend yield for the trailing twelve months is around 1.73%, more than ACWI's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACWI iShares MSCI ACWI ETF	1.45%	1.55%	1.70%	1.88%	1.79%	1.71%	1.43%	2.33%	2.18%	1.94%	2.19%	2.56%
CNYA iShares MSCI China A ETF	1.73%	1.92%	2.51%	4.23%	2.69%	1.11%	1.06%	1.21%	3.92%	0.97%	1.38%	0.00%

Frequently Asked Questions

Can I hold both CNYA and ACWI in my portfolio?

CNYA and ACWI have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CNYA or ACWI?

CNYA has higher volatility (7.35%) compared to ACWI (5.57%). In terms of maximum drawdown, CNYA dropped -49.49% vs ACWI's -56.00%.

Which ETF is better, CNYA or ACWI?

On 10-year performance, ACWI leads with 13.09% vs 6.50% for CNYA. On fees, ACWI is cheaper at 0.32% per year. On volatility, ACWI has been the lower-risk option at 5.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CNYA or ACWI?

Over the 10-year period, ACWI has performed better with a 13.09% return vs 6.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CNYA or ACWI?

ACWI is cheaper with a 0.32% expense ratio, compared with 0.60% for CNYA.

Which ETF pays a higher dividend yield, CNYA or ACWI?

CNYA has the higher dividend yield at 1.73%, compared with 1.45% for ACWI.

What is the main difference between CNYA and ACWI?

CNYA is categorized as China Equities, while ACWI is Global Equities. CNYA tracks MSCI China A Inclusion Index, while ACWI tracks MSCI All Country World Index. Their fees differ too: 0.60% for CNYA and 0.32% for ACWI.

Which has better risk-adjusted returns?

CNYA currently has the higher Sharpe Ratio (2.00 vs 1.89), 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.