CPXJ.AS vs. FXC.AS

Last updated Jul 22, 2026

CPXJ.AS (iShares Core MSCI Pacific ex Japan UCITS ETF) and FXC.AS (iShares China Large Cap UCITS ETF) are both exchange-traded funds - CPXJ.AS is a Asia Pacific Equities fund tracking the MSCI Pacific Ex Japan NR USD, while FXC.AS is a China Equities fund tracking the MSCI China NR USD. Both are passively managed. Over the past 10 years, CPXJ.AS returned 7.08%/yr vs 1.99%/yr for FXC.AS. A 0.66 correlation means they provide meaningful diversification when combined. CPXJ.AS charges 0.20%/yr vs 0.74%/yr for FXC.AS.

Performance

CPXJ.AS vs. FXC.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Core MSCI Pacific ex Japan UCITS ETF (CPXJ.AS) and iShares China Large Cap UCITS ETF (FXC.AS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPXJ.AS achieves a 13.48% return, which is significantly higher than FXC.AS's -4.82% return. Over the past 10 years, CPXJ.AS has outperformed FXC.AS with an annualized return of 7.08%, while FXC.AS has yielded a comparatively lower 1.99% annualized return.

CPXJ.AS

• 1D: 0.00%
• 1M: 2.96%
• 6M: 11.50%
• YTD: 13.48%
• 1Y: 16.81%
• 3Y*: 11.93%
• 5Y*: 6.60%
• 10Y*: 7.08%
• ALL TIME*: 6.48%

FXC.AS

• 1D: 0.00%
• 1M: 6.21%
• 6M: -6.80%
• YTD: -4.82%
• 1Y: -3.93%
• 3Y*: 10.09%
• 5Y*: -1.32%
• 10Y*: 1.99%
• ALL TIME*: -1.62%

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

CPXJ.AS vs. FXC.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CPXJ.AS iShares Core MSCI Pacific ex Japan UCITS ETF	13.48%	6.69%	11.90%	2.33%	-0.55%	12.79%	-2.03%	20.23%	-5.97%	10.75%
FXC.AS iShares China Large Cap UCITS ETF	-4.82%	13.80%	38.37%	-15.83%	-16.25%	-13.60%	0.80%	15.49%	-7.49%	18.82%

Correlation

The correlation between CPXJ.AS and FXC.AS is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jan 18, 2011	0.66

Over the past year, the correlation between CPXJ.AS and FXC.AS has dropped to 0.43 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

Return for Risk

CPXJ.AS vs. FXC.AS — Risk / Return Rank

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

CPXJ.AS

CPXJ.AS Risk / Return Rank: 59
CPXJ.AS Sharpe Ratio Rank: 55
CPXJ.AS Sortino Ratio Rank: 59
CPXJ.AS Omega Ratio Rank: 53
CPXJ.AS Calmar Ratio Rank: 71
CPXJ.AS Martin Ratio Rank: 60

FXC.AS

FXC.AS Risk / Return Rank: 8
FXC.AS Sharpe Ratio Rank: 8
FXC.AS Sortino Ratio Rank: 8
FXC.AS Omega Ratio Rank: 8
FXC.AS Calmar Ratio Rank: 8
FXC.AS Martin Ratio Rank: 8

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.

CPXJ.AS vs. FXC.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Pacific ex Japan UCITS ETF (CPXJ.AS) and iShares China Large Cap UCITS ETF (FXC.AS). 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.

	CPXJ.AS	FXC.AS	Difference
Sharpe ratio: Return per unit of total volatility	1.42	-0.21	+1.63
Sortino ratio: Return per unit of downside risk	2.13	-0.17	+2.30
Omega ratio: Gain probability vs. loss probability	1.25	0.98	+0.27
Calmar ratio: Return relative to maximum drawdown	2.70	-0.19	+2.88
Martin ratio: Return relative to average drawdown	7.77	-0.42	+8.20

CPXJ.AS vs. FXC.AS - Sharpe Ratio Comparison

The current CPXJ.AS Sharpe Ratio is 1.42, which is higher than the FXC.AS Sharpe Ratio of -0.21. The chart below compares the historical Sharpe Ratios of CPXJ.AS and FXC.AS, 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

CPXJ.AS vs. FXC.AS - Drawdown Comparison

The maximum CPXJ.AS drawdown since its inception was -36.83%, smaller than the maximum FXC.AS drawdown of -68.25%. Use the drawdown chart below to compare losses from any high point for CPXJ.AS and FXC.AS.

Drawdown Indicators

	CPXJ.AS	FXC.AS	Difference
Max Drawdown Largest peak-to-trough decline	-36.83%	-68.25%	+31.42%
Max Drawdown (1Y) Largest decline over 1 year	-6.20%	-20.97%	+14.77%
Max Drawdown (3Y) Largest decline over 3 years	-19.95%	-27.79%	+7.84%
Max Drawdown (5Y) Largest decline over 5 years	-19.95%	-43.51%	+23.56%
Max Drawdown (10Y) Largest decline over 10 years	-36.83%	-53.92%	+17.09%
Current Drawdown Current decline from peak	-0.45%	-26.90%	+26.45%
Average Drawdown Average peak-to-trough decline	-6.62%	-37.57%	+30.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	9.28%	-7.12%

Volatility

CPXJ.AS vs. FXC.AS - Volatility Comparison

The current volatility for iShares Core MSCI Pacific ex Japan UCITS ETF (CPXJ.AS) is 2.34%, while iShares China Large Cap UCITS ETF (FXC.AS) has a volatility of 7.17%. This indicates that CPXJ.AS experiences smaller price fluctuations and is considered to be less risky than FXC.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPXJ.AS	FXC.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.34%	7.17%	-4.83%
Volatility (6M) Calculated over the trailing 6-month period	9.22%	13.70%	-4.48%
Volatility (1Y) Calculated over the trailing 1-year period	11.81%	18.88%	-7.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.62%	28.30%	-13.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.41%	25.10%	-8.69%

CPXJ.AS vs. FXC.AS - Expense Ratio Comparison

CPXJ.AS has a 0.20% expense ratio, which is lower than FXC.AS's 0.74% expense ratio.

Dividends

CPXJ.AS vs. FXC.AS - Dividend Comparison

CPXJ.AS has not paid dividends to shareholders, while FXC.AS's dividend yield for the trailing twelve months is around 1.75%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPXJ.AS iShares Core MSCI Pacific ex Japan UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FXC.AS iShares China Large Cap UCITS ETF	1.75%	1.79%	2.26%	2.51%	2.52%	1.79%	2.49%	2.47%	2.99%	2.39%	2.34%	2.62%

Frequently Asked Questions

Can I hold both CPXJ.AS and FXC.AS in my portfolio?

CPXJ.AS and FXC.AS have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CPXJ.AS or FXC.AS?

On fees, CPXJ.AS is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CPXJ.AS or FXC.AS?

CPXJ.AS is cheaper with a 0.20% expense ratio, compared with 0.74% for FXC.AS.

What is the main difference between CPXJ.AS and FXC.AS?

CPXJ.AS is categorized as Asia Pacific Equities, while FXC.AS is China Equities. CPXJ.AS tracks MSCI Pacific Ex Japan NR USD, while FXC.AS tracks MSCI China NR USD. Their fees differ too: 0.20% for CPXJ.AS and 0.74% for FXC.AS.