EPP vs. CNYA

Last updated Jul 14, 2026

EPP (iShares MSCI Pacific ex Japan ETF) and CNYA (iShares MSCI China A ETF) are both exchange-traded funds - EPP is a Asia Pacific Equities fund tracking the MSCI Pacific ex-Japan Index, while CNYA is a China Equities fund tracking the MSCI China A Inclusion Index. Both are passively managed. Over the past 10 years, EPP returned 7.03%/yr vs 5.28%/yr for CNYA. A 0.52 correlation means they provide meaningful diversification when combined. EPP charges 0.48%/yr vs 0.60%/yr for CNYA.

Performance

EPP vs. CNYA - Performance Comparison

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

Returns By Period

In the year-to-date period, EPP achieves a 9.21% return, which is significantly higher than CNYA's 3.41% return. Over the past 10 years, EPP has outperformed CNYA with an annualized return of 7.03%, while CNYA has yielded a comparatively lower 5.28% annualized return.

EPP

• 1D: -0.57%
• 1M: 0.54%
• 6M: 6.84%
• YTD: 9.21%
• 1Y: 13.54%
• 3Y*: 11.81%
• 5Y*: 5.26%
• 10Y*: 7.03%

CNYA

• 1D: -3.04%
• 1M: -3.13%
• 6M: -1.30%
• YTD: 3.41%
• 1Y: 24.47%
• 3Y*: 9.03%
• 5Y*: -1.52%
• 10Y*: 5.28%

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

EPP vs. CNYA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EPP iShares MSCI Pacific ex Japan ETF	9.21%	19.70%	4.76%	5.76%	-6.59%	4.26%	6.04%	18.30%	-10.78%	26.05%
CNYA iShares MSCI China A ETF	3.41%	26.48%	10.78%	-13.76%	-26.51%	3.53%	41.54%	35.95%	-26.56%	30.99%

Correlation

The correlation between EPP and CNYA is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jun 15, 2016	0.52

The correlation between EPP and CNYA has been stable across timeframes, ranging from 0.46 to 0.52 - a consistent structural relationship.

EPP vs. CNYA - Sectors Allocation Comparison

Sectors	EPP	CNYA
Financial Services	44.9%	17.6%
Basic Materials	17.0%	11.2%
Industrials	8.5%	15.4%
Real Estate	7.4%	0.6%
Consumer Cyclical	6.2%	5.2%
Utilities	3.5%	3.3%
Healthcare	3.3%	3.9%
Consumer Defensive	2.9%	6.8%
Energy	2.7%	3.1%
Communication Services	2.6%	1.3%
Technology	1.0%	31.7%

Return for Risk

EPP vs. CNYA — Risk / Return Rank

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

EPP

EPP Risk / Return Rank: 33
EPP Sharpe Ratio Rank: 31
EPP Sortino Ratio Rank: 30
EPP Omega Ratio Rank: 30
EPP Calmar Ratio Rank: 38
EPP Martin Ratio Rank: 36

CNYA

CNYA Risk / Return Rank: 54
CNYA Sharpe Ratio Rank: 45
CNYA Sortino Ratio Rank: 43
CNYA Omega Ratio Rank: 45
CNYA Calmar Ratio Rank: 77
CNYA Martin Ratio Rank: 60

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.

EPP vs. CNYA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Pacific ex Japan ETF (EPP) and iShares MSCI China A ETF (CNYA). 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.

	EPP	CNYA	Difference
Sharpe ratio: Return per unit of total volatility	0.90	1.27	-0.36
Sortino ratio: Return per unit of downside risk	1.34	1.80	-0.46
Omega ratio: Gain probability vs. loss probability	1.17	1.23	-0.06
Calmar ratio: Return relative to maximum drawdown	1.55	3.16	-1.62
Martin ratio: Return relative to average drawdown	4.30	8.38	-4.08

EPP vs. CNYA - Sharpe Ratio Comparison

The current EPP Sharpe Ratio is 0.90, which is comparable to the CNYA Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of EPP and CNYA, 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

EPP vs. CNYA - Drawdown Comparison

The maximum EPP drawdown since its inception was -66.01%, which is greater than CNYA's maximum drawdown of -49.49%. Use the drawdown chart below to compare losses from any high point for EPP and CNYA.

Drawdown Indicators

	EPP	CNYA	Difference
Max Drawdown Largest peak-to-trough decline	-66.01%	-49.49%	-16.52%
Max Drawdown (1Y) Largest decline over 1 year	-8.79%	-7.77%	-1.02%
Max Drawdown (3Y) Largest decline over 3 years	-19.29%	-33.35%	+14.06%
Max Drawdown (5Y) Largest decline over 5 years	-24.55%	-44.65%	+20.10%
Max Drawdown (10Y) Largest decline over 10 years	-39.30%	-49.49%	+10.19%
Current Drawdown Current decline from peak	-3.11%	-18.08%	+14.97%
Average Drawdown Average peak-to-trough decline	-10.59%	-20.62%	+10.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	2.93%	+0.22%

Volatility

EPP vs. CNYA - Volatility Comparison

The current volatility for iShares MSCI Pacific ex Japan ETF (EPP) is 3.96%, while iShares MSCI China A ETF (CNYA) has a volatility of 8.65%. This indicates that EPP experiences smaller price fluctuations and is considered to be less risky than CNYA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EPP	CNYA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	8.65%	-4.69%
Volatility (6M) Calculated over the trailing 6-month period	12.68%	14.98%	-2.30%
Volatility (1Y) Calculated over the trailing 1-year period	15.06%	19.41%	-4.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.50%	24.02%	-6.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.99%	23.59%	-4.60%

EPP vs. CNYA - Expense Ratio Comparison

EPP has a 0.48% expense ratio, which is lower than CNYA's 0.60% expense ratio.

Dividends

EPP vs. CNYA - Dividend Comparison

EPP's dividend yield for the trailing twelve months is around 3.44%, more than CNYA's 1.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNYA iShares MSCI China A ETF	1.82%	1.92%	2.51%	4.23%	2.69%	1.11%	1.06%	1.21%	3.92%	0.97%	1.38%	0.00%
EPP iShares MSCI Pacific ex Japan ETF	3.44%	3.77%	3.81%	4.10%	4.37%	4.58%	2.28%	3.89%	5.00%	4.15%	3.96%	4.90%

Frequently Asked Questions

Can I hold both EPP and CNYA in my portfolio?

EPP and CNYA have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EPP or CNYA?

CNYA has higher volatility (8.65%) compared to EPP (3.96%). In terms of maximum drawdown, EPP dropped -66.01% vs CNYA's -49.49%.

Which ETF is better, EPP or CNYA?

On 10-year performance, EPP leads with 7.03% vs 5.28% for CNYA. On fees, EPP is cheaper at 0.48% per year. On volatility, EPP has been the lower-risk option at 3.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EPP or CNYA?

Over the 10-year period, EPP has performed better with a 7.03% return vs 5.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EPP or CNYA?

EPP is cheaper with a 0.48% expense ratio, compared with 0.60% for CNYA.

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

EPP has the higher dividend yield at 3.44%, compared with 1.82% for CNYA.

What is the main difference between EPP and CNYA?

EPP is categorized as Asia Pacific Equities, while CNYA is China Equities. EPP tracks MSCI Pacific ex-Japan Index, while CNYA tracks MSCI China A Inclusion Index. Their fees differ too: 0.48% for EPP and 0.60% for CNYA.

Which has better risk-adjusted returns?

CNYA currently has the higher Sharpe Ratio (1.27 vs 0.90), 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.