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CWO.NEO vs. XCH.TO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

CWO.NEO vs. XCH.TO

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Emerging Markets Fundamental Index ETF (CWO.NEO) and iShares China Index ETF (XCH.TO).

CWO.NEO and XCH.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CWO.NEO is a passively managed fund by iShares that tracks the performance of the FTSE RAFI Emerging Markets Index. It was launched on Apr 7, 2009. XCH.TO is a passively managed fund by iShares that tracks the performance of the Morningstar China GR CAD. It was launched on Jan 21, 2010. Both CWO.NEO and XCH.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

CWO.NEO vs. XCH.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Emerging Markets Fundamental Index ETF (CWO.NEO) and iShares China Index ETF (XCH.TO). The values are adjusted to include any dividend payments, if applicable.

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CWO.NEO vs. XCH.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CWO.NEO
iShares Emerging Markets Fundamental Index ETF		4.72%26.34%22.33%9.56%-9.03%7.13%-3.12%10.86%-0.29%17.16%
XCH.TO
iShares China Index ETF		-6.01%22.48%39.50%-14.76%-15.40%-20.56%7.17%8.11%-6.28%27.28%

Returns By Period

In the year-to-date period, CWO.NEO achieves a 4.72% return, which is significantly higher than XCH.TO's -6.01% return. Over the past 10 years, CWO.NEO has outperformed XCH.TO with an annualized return of 10.26%, while XCH.TO has yielded a comparatively lower 3.32% annualized return.

CWO.NEO

1D
-0.68%
1M
-3.79%
YTD
4.72%
6M
6.75%
1Y
24.14%
3Y*
19.80%
5Y*
10.38%
10Y*
10.26%

XCH.TO

1D
-0.97%
1M
-2.09%
YTD
-6.01%
6M
-13.56%
1Y
-1.54%
3Y*
9.50%
5Y*
-1.80%
10Y*
3.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Emerging Markets Fundamental Index ETF

iShares China Index ETF

Often compared with CWO.NEO:
CWO.NEO vs. VEE.TOCWO.NEO vs. XEC.TOCWO.NEO vs. EMGFCWO.NEO vs. ZEM.TOCWO.NEO vs. VGRO.TOCWO.NEO vs. VCN.TOCWO.NEO vs. BRF
Often compared with XCH.TO:
XCH.TO vs. VEE.TOXCH.TO vs. XEC.TOXCH.TO vs. XAW.TOXCH.TO vs. XIC.TOXCH.TO vs. VFV.TOXCH.TO vs. FBRTXCH.TO vs. 3993.HK

CWO.NEO vs. XCH.TO - Expense Ratio Comparison

CWO.NEO has a 0.73% expense ratio, which is lower than XCH.TO's 0.87% expense ratio.

XCH.TO
iShares China Index ETF
CWO.NEO
iShares Emerging Markets Fundamental Index ETF

Return for Risk

CWO.NEO vs. XCH.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CWO.NEO
CWO.NEO Risk / Return Rank: 6666
Overall Rank
CWO.NEO Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
CWO.NEO Sortino Ratio Rank: 6969
Sortino Ratio Rank
CWO.NEO Omega Ratio Rank: 7171
Omega Ratio Rank
CWO.NEO Calmar Ratio Rank: 6060
Calmar Ratio Rank
CWO.NEO Martin Ratio Rank: 5959
Martin Ratio Rank
XCH.TO
XCH.TO Risk / Return Rank: 1010
Overall Rank
XCH.TO Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
XCH.TO Sortino Ratio Rank: 1010
Sortino Ratio Rank
XCH.TO Omega Ratio Rank: 1010
Omega Ratio Rank
XCH.TO Calmar Ratio Rank: 1010
Calmar Ratio Rank
XCH.TO Martin Ratio Rank: 99
Martin Ratio Rank
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.

CWO.NEO vs. XCH.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Markets Fundamental Index ETF (CWO.NEO) and iShares China Index ETF (XCH.TO). 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.

CWO.NEOXCH.TODifference

Sharpe ratio

Return per unit of total volatility

1.32

-0.07

+1.39

Sortino ratio

Return per unit of downside risk

1.84

0.07

+1.77

Omega ratio

Gain probability vs. loss probability

1.28

1.01

+0.27

Calmar ratio

Return relative to maximum drawdown

1.72

-0.13

+1.85

Martin ratio

Return relative to average drawdown

6.53

-0.33

+6.86

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CWO.NEO vs. XCH.TO - Sharpe Ratio Comparison

The current CWO.NEO Sharpe Ratio is 1.32, which is higher than the XCH.TO Sharpe Ratio of -0.07. The chart below compares the historical Sharpe Ratios of CWO.NEO and XCH.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

CWO.NEOXCH.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.32

-0.07

+1.39

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.63

-0.06

+0.69

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.59

0.13

+0.46

Sharpe Ratio (All Time)

Calculated using the full available price history

0.43

0.13

+0.30

Correlation

The correlation between CWO.NEO and XCH.TO is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CWO.NEO vs. XCH.TO - Dividend Comparison

CWO.NEO's dividend yield for the trailing twelve months is around 2.66%, more than XCH.TO's 2.25% yield.

TTM20252024202320222021202020192018201720162015
CWO.NEO
iShares Emerging Markets Fundamental Index ETF		2.66%2.79%3.50%4.14%5.03%4.61%2.64%3.01%3.22%2.60%2.57%3.23%
XCH.TO
iShares China Index ETF		2.25%2.11%1.54%2.86%2.35%1.50%2.17%2.50%2.45%2.41%2.21%2.58%

Drawdowns

CWO.NEO vs. XCH.TO - Drawdown Comparison

The maximum CWO.NEO drawdown since its inception was -31.99%, smaller than the maximum XCH.TO drawdown of -58.02%. Use the drawdown chart below to compare losses from any high point for CWO.NEO and XCH.TO.

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Drawdown Indicators

CWO.NEOXCH.TODifference

Max Drawdown

Largest peak-to-trough decline

-31.99%

-58.02%

+26.03%

Max Drawdown (1Y)

Largest decline over 1 year

-13.53%

-17.10%

+3.57%

Max Drawdown (5Y)

Largest decline over 5 years

-24.80%

-51.64%

+26.84%

Max Drawdown (10Y)

Largest decline over 10 years

-31.97%

-58.02%

+26.05%

Current Drawdown

Current decline from peak

-6.63%

-21.53%

+14.90%

Average Drawdown

Average peak-to-trough decline

-10.37%

-20.41%

+10.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.58%

6.87%

-3.29%

Volatility

CWO.NEO vs. XCH.TO - Volatility Comparison

iShares Emerging Markets Fundamental Index ETF (CWO.NEO) has a higher volatility of 7.45% compared to iShares China Index ETF (XCH.TO) at 6.41%. This indicates that CWO.NEO's price experiences larger fluctuations and is considered to be riskier than XCH.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CWO.NEOXCH.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

7.45%

6.41%

+1.04%

Volatility (6M)

Calculated over the trailing 6-month period

12.47%

14.12%

-1.65%

Volatility (1Y)

Calculated over the trailing 1-year period

18.33%

23.56%

-5.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.57%

29.80%

-13.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.54%

25.74%

-8.20%