CNYA vs. CHILX

Last updated Jun 4, 2026

CNYA (iShares MSCI China A ETF) and CHILX (BlackRock China A Opportunities Fund) are both China Equities funds. Over the past 5 years, CNYA returned -1.06%/yr vs 0.83%/yr for CHILX. Their correlation of 0.91 suggests significant overlap in exposure. CNYA charges 0.60%/yr vs 0.99%/yr for CHILX.

Performance

CNYA vs. CHILX - Performance Comparison

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

Returns By Period

In the year-to-date period, CNYA achieves a 9.30% return, which is significantly lower than CHILX's 13.72% return.

CNYA

• 1D: 0.04%
• 1M: 2.34%
• YTD: 9.30%
• 6M: 13.79%
• 1Y: 37.95%
• 3Y*: 11.00%
• 5Y*: -1.06%
• 10Y*: —

CHILX

• 1D: 1.52%
• 1M: 3.38%
• YTD: 13.72%
• 6M: 18.41%
• 1Y: 41.88%
• 3Y*: 13.49%
• 5Y*: 0.83%
• 10Y*: —

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

CNYA vs. CHILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CNYA iShares MSCI China A ETF	9.30%	26.48%	10.78%	-13.76%	-26.51%	3.53%	41.54%	37.79%
CHILX BlackRock China A Opportunities Fund	13.72%	26.30%	15.44%	-12.29%	-28.54%	3.54%	48.69%	48.44%

Correlation

The correlation between CNYA and CHILX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jan 4, 2019	0.91

The correlation between CNYA and CHILX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

CNYA vs. CHILX — Risk / Return Rank

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

CNYA

CNYA Risk / Return Rank: 71
CNYA Sharpe Ratio Rank: 65
CNYA Sortino Ratio Rank: 64
CNYA Omega Ratio Rank: 64
CNYA Calmar Ratio Rank: 87
CNYA Martin Ratio Rank: 76

CHILX

CHILX Risk / Return Rank: 78
CHILX Sharpe Ratio Rank: 80
CHILX Sortino Ratio Rank: 69
CHILX Omega Ratio Rank: 65
CHILX Calmar Ratio Rank: 92
CHILX Martin Ratio Rank: 85

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. CHILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China A ETF (CNYA) and BlackRock China A Opportunities Fund (CHILX). 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.

	CNYA	CHILX	Difference
Sharpe ratio Return per unit of total volatility	2.20	2.61	-0.41
Sortino ratio Return per unit of downside risk	3.02	3.47	-0.45
Omega ratio Gain probability vs. loss probability	1.40	1.45	-0.06
Calmar ratio Return relative to maximum drawdown	5.02	5.04	-0.02
Martin ratio Return relative to average drawdown	14.84	16.20	-1.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CNYA vs. CHILX - Sharpe Ratio Comparison

The current CNYA Sharpe Ratio is 2.20, which is comparable to the CHILX Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of CNYA and CHILX, 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

	CNYA	CHILX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	2.61	-0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.04	0.04	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.57	-0.29

Drawdowns

CNYA vs. CHILX - Drawdown Comparison

The maximum CNYA drawdown since its inception was -49.49%, roughly equal to the maximum CHILX drawdown of -47.73%. Use the drawdown chart below to compare losses from any high point for CNYA and CHILX.

Drawdown Indicators

	CNYA	CHILX	Difference
Max Drawdown Largest peak-to-trough decline	-49.49%	-47.73%	-1.76%
Max Drawdown (1Y) Largest decline over 1 year	-7.59%	-8.54%	+0.95%
Max Drawdown (3Y) Largest decline over 3 years	-33.35%	-22.59%	-10.76%
Max Drawdown (5Y) Largest decline over 5 years	-44.70%	-43.88%	-0.82%
Current Drawdown Current decline from peak	-13.42%	-4.86%	-8.56%
Average Drawdown Average peak-to-trough decline	-20.69%	-20.47%	-0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	2.65%	-0.09%

Volatility

CNYA vs. CHILX - Volatility Comparison

iShares MSCI China A ETF (CNYA) has a higher volatility of 6.42% compared to BlackRock China A Opportunities Fund (CHILX) at 6.06%. This indicates that CNYA's price experiences larger fluctuations and is considered to be riskier than CHILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNYA	CHILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.42%	6.06%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	12.30%	11.88%	+0.42%
Volatility (1Y) Calculated over the trailing 1-year period	17.32%	16.51%	+0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.81%	20.28%	+3.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.56%	21.84%	+1.72%

CNYA vs. CHILX - Expense Ratio Comparison

CNYA has a 0.60% expense ratio, which is lower than CHILX's 0.99% expense ratio.

Dividends

CNYA vs. CHILX - Dividend Comparison

CNYA's dividend yield for the trailing twelve months is around 1.75%, less than CHILX's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CHILX BlackRock China A Opportunities Fund	2.58%	2.94%	2.11%	2.02%	0.92%	1.19%	3.64%	12.77%	0.00%	0.00%	0.00%
CNYA iShares MSCI China A ETF	1.75%	1.92%	2.51%	4.23%	2.69%	1.11%	1.06%	1.21%	3.92%	0.97%	1.38%

Frequently Asked Questions

Can I hold both CNYA and CHILX in my portfolio?

With a correlation of 0.93, CNYA and CHILX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, CNYA or CHILX?

CNYA has higher volatility (6.42%) compared to CHILX (6.06%). In terms of maximum drawdown, CNYA dropped -49.49% vs CHILX's -47.73%.

Which has better risk-adjusted returns?

CHILX currently has the higher Sharpe Ratio (2.61 vs 2.20), 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.