DEEF vs. CN

Last updated Jun 4, 2026

DEEF (Xtrackers FTSE Developed ex US Multifactor ETF) and CN (Xtrackers MSCI All China Equity ETF) are both exchange-traded funds - DEEF is a Foreign Large Cap Equities fund tracking the FTSE Developed ex US Comprehensive Factor Net Tax (US RIC) Index, while CN is a China Equities fund tracking the MSCI China All Shares. Both are passively managed. At a 0.47 correlation, their price movements are largely independent. DEEF charges 0.24%/yr vs 0.50%/yr for CN.

Performance

DEEF vs. CN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers FTSE Developed ex US Multifactor ETF (DEEF) and Xtrackers MSCI All China Equity ETF (CN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DEEF

• 1D: -0.08%
• 1M: 2.38%
• YTD: 10.24%
• 6M: 13.08%
• 1Y: 23.80%
• 3Y*: 17.65%
• 5Y*: 7.51%
• 10Y*: 8.28%

CN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DEEF vs. CN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DEEF Xtrackers FTSE Developed ex US Multifactor ETF	10.24%	32.36%	2.77%	16.99%	-16.94%	9.22%	7.90%	19.30%	-14.50%	29.23%
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	-3.10%	-11.87%	-23.85%	-12.74%	31.55%	26.79%	-22.41%	43.69%

Correlation

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

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Nov 25, 2015	0.47

The correlation between DEEF and CN shifts across timeframes, from 0.24 (3 years) to 0.48 (10 years), reflecting how their relationship changes across market environments.

DEEF vs. CN - Sectors Allocation Comparison

Sectors	DEEF	CN
Industrials	23.4%	1.0%
Financial Services	14.2%	55.1%
Consumer Cyclical	10.8%	5.4%
Consumer Defensive	9.7%	0.3%
Basic Materials	9.6%	0.6%
Utilities	6.8%	0.2%
Real Estate	5.4%	0.8%
Energy	4.9%	0.9%
Technology	4.8%	0.3%
Healthcare	4.4%	0.8%
Communication Services	4.2%	0.4%

Return for Risk

DEEF vs. CN — Risk / Return Rank

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

DEEF

DEEF Risk / Return Rank: 49
DEEF Sharpe Ratio Rank: 52
DEEF Sortino Ratio Rank: 50
DEEF Omega Ratio Rank: 52
DEEF Calmar Ratio Rank: 46
DEEF Martin Ratio Rank: 47

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.

DEEF vs. CN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers FTSE Developed ex US Multifactor ETF (DEEF) and Xtrackers MSCI All China Equity ETF (CN). 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.

	DEEF	CN	Difference
Sharpe ratio: Return per unit of total volatility	1.77	—	—
Sortino ratio: Return per unit of downside risk	2.43	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.25	—	—
Martin ratio: Return relative to average drawdown	7.82	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DEEF	CN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	—	—

Drawdowns

Drawdown Indicators

	DEEF	CN	Difference
Max Drawdown Largest peak-to-trough decline	-36.48%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-10.64%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-11.07%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.08%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.48%	—	—
Current Drawdown Current decline from peak	-3.63%	—	—
Average Drawdown Average peak-to-trough decline	-7.09%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	—	—

Volatility

Volatility by Period

	DEEF	CN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.88%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.62%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.53%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.93%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.29%	—	—

DEEF vs. CN - Expense Ratio Comparison

DEEF has a 0.24% expense ratio, which is lower than CN's 0.50% expense ratio.

Dividends

DEEF vs. CN - Dividend Comparison

DEEF's dividend yield for the trailing twelve months is around 3.38%, while CN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	0.00%	4.04%	1.80%	2.00%	0.78%	4.18%	2.09%	0.81%	11.41%	14.00%
DEEF Xtrackers FTSE Developed ex US Multifactor ETF	3.38%	3.63%	4.04%	3.96%	3.31%	3.84%	2.71%	3.74%	2.80%	2.61%	4.35%	0.00%

Frequently Asked Questions

Can I hold both DEEF and CN in my portfolio?

DEEF and CN 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 ETF is better, DEEF or CN?

On fees, DEEF is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DEEF or CN?

DEEF is cheaper with a 0.24% expense ratio, compared with 0.50% for CN.

Which ETF pays a higher dividend yield, DEEF or CN?

DEEF has the higher dividend yield at 3.38%, compared with 0.00% for CN.

What is the main difference between DEEF and CN?

DEEF is categorized as Foreign Large Cap Equities, while CN is China Equities. DEEF tracks FTSE Developed ex US Comprehensive Factor Net Tax (US RIC) Index, while CN tracks MSCI China All Shares. Their fees differ too: 0.24% for DEEF and 0.50% for CN.