FXC.AS vs. IDVY.AS

Last updated Jun 4, 2026

FXC.AS (iShares China Large Cap UCITS ETF) and IDVY.AS (iShares Euro Dividend UCITS ETF) are both exchange-traded funds - FXC.AS is a China Equities fund tracking the MSCI China NR USD, while IDVY.AS is a Europe Equities fund tracking the MSCI EMU NR EUR. Both are passively managed. Over the past 10 years, FXC.AS returned 2.88%/yr vs 7.33%/yr for IDVY.AS. At a 0.48 correlation, their price movements are largely independent. FXC.AS charges 0.74%/yr vs 0.40%/yr for IDVY.AS.

Performance

FXC.AS vs. IDVY.AS - Performance Comparison

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

Returns By Period

In the year-to-date period, FXC.AS achieves a -5.88% return, which is significantly lower than IDVY.AS's 8.21% return. Over the past 10 years, FXC.AS has underperformed IDVY.AS with an annualized return of 2.88%, while IDVY.AS has yielded a comparatively higher 7.33% annualized return.

FXC.AS

• 1D: -2.27%
• 1M: -2.00%
• YTD: -5.88%
• 6M: -7.23%
• 1Y: 0.25%
• 3Y*: 8.84%
• 5Y*: -2.15%
• 10Y*: 2.88%

IDVY.AS

• 1D: 0.33%
• 1M: 3.43%
• YTD: 8.21%
• 6M: 11.08%
• 1Y: 21.10%
• 3Y*: 20.03%
• 5Y*: 9.08%
• 10Y*: 7.33%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXC.AS iShares China Large Cap UCITS ETF	-5.88%	13.80%	38.37%	-15.83%	-16.25%	-13.60%	0.80%	15.49%	-7.49%	18.82%
IDVY.AS iShares Euro Dividend UCITS ETF	8.21%	41.92%	8.62%	4.42%	-13.82%	24.39%	-17.87%	20.43%	-10.28%	9.96%

Correlation

The correlation between FXC.AS and IDVY.AS is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.40
Correlation (All Time) Calculated using the full available price history since Nov 24, 2005	0.48

Over the past year, the correlation between FXC.AS and IDVY.AS has dropped to 0.25 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.

Return for Risk

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

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

FXC.AS

FXC.AS Risk / Return Rank: 9
FXC.AS Sharpe Ratio Rank: 9
FXC.AS Sortino Ratio Rank: 9
FXC.AS Omega Ratio Rank: 8
FXC.AS Calmar Ratio Rank: 9
FXC.AS Martin Ratio Rank: 9

IDVY.AS

IDVY.AS Risk / Return Rank: 52
IDVY.AS Sharpe Ratio Rank: 52
IDVY.AS Sortino Ratio Rank: 52
IDVY.AS Omega Ratio Rank: 54
IDVY.AS Calmar Ratio Rank: 54
IDVY.AS Martin Ratio Rank: 49

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.

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

This table presents a comparison of risk-adjusted performance metrics for iShares China Large Cap UCITS ETF (FXC.AS) and iShares Euro Dividend UCITS ETF (IDVY.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.

	FXC.AS	IDVY.AS	Difference
Sharpe ratio: Return per unit of total volatility	0.01	1.77	-1.76
Sortino ratio: Return per unit of downside risk	0.15	2.47	-2.33
Omega ratio: Gain probability vs. loss probability	1.02	1.33	-0.31
Calmar ratio: Return relative to maximum drawdown	0.02	2.61	-2.60
Martin ratio: Return relative to average drawdown	0.03	8.13	-8.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current FXC.AS Sharpe Ratio is 0.01, which is lower than the IDVY.AS Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of FXC.AS and IDVY.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.

Sharpe Ratios by Period

	FXC.AS	IDVY.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.01	1.77	-1.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.08	0.60	-0.68
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.11	0.42	-0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.23	-0.03

Drawdowns

FXC.AS vs. IDVY.AS - Drawdown Comparison

The maximum FXC.AS drawdown since its inception was -66.87%, smaller than the maximum IDVY.AS drawdown of -71.33%. Use the drawdown chart below to compare losses from any high point for FXC.AS and IDVY.AS.

Drawdown Indicators

	FXC.AS	IDVY.AS	Difference
Max Drawdown Largest peak-to-trough decline	-66.87%	-71.33%	+4.46%
Max Drawdown (1Y) Largest decline over 1 year	-15.26%	-7.97%	-7.29%
Max Drawdown (3Y) Largest decline over 3 years	-27.79%	-12.81%	-14.98%
Max Drawdown (5Y) Largest decline over 5 years	-47.50%	-24.57%	-22.93%
Max Drawdown (10Y) Largest decline over 10 years	-53.92%	-42.34%	-11.58%
Current Drawdown Current decline from peak	-23.62%	-1.42%	-22.20%
Average Drawdown Average peak-to-trough decline	-26.62%	-22.54%	-4.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.08%	2.57%	+4.51%

Volatility

FXC.AS vs. IDVY.AS - Volatility Comparison

iShares China Large Cap UCITS ETF (FXC.AS) has a higher volatility of 7.13% compared to iShares Euro Dividend UCITS ETF (IDVY.AS) at 3.54%. This indicates that FXC.AS's price experiences larger fluctuations and is considered to be riskier than IDVY.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXC.AS	IDVY.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.13%	3.54%	+3.59%
Volatility (6M) Calculated over the trailing 6-month period	12.79%	9.62%	+3.17%
Volatility (1Y) Calculated over the trailing 1-year period	18.05%	11.77%	+6.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.17%	14.80%	+13.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.06%	17.26%	+7.80%

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

FXC.AS has a 0.74% expense ratio, which is higher than IDVY.AS's 0.40% expense ratio.

Dividends

FXC.AS vs. IDVY.AS - Dividend Comparison

FXC.AS's dividend yield for the trailing twelve months is around 1.91%, less than IDVY.AS's 3.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXC.AS iShares China Large Cap UCITS ETF	1.91%	1.79%	2.26%	2.51%	2.52%	1.79%	2.49%	2.47%	2.99%	2.39%	2.34%	2.63%
IDVY.AS iShares Euro Dividend UCITS ETF	3.99%	4.36%	5.85%	5.84%	5.28%	3.68%	3.57%	4.84%	4.76%	3.91%	3.97%	4.00%

Frequently Asked Questions

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

FXC.AS and IDVY.AS have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, IDVY.AS is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

IDVY.AS is cheaper with a 0.40% expense ratio, compared with 0.74% for FXC.AS.

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

FXC.AS is categorized as China Equities, while IDVY.AS is Europe Equities. FXC.AS tracks MSCI China NR USD, while IDVY.AS tracks MSCI EMU NR EUR. Their fees differ too: 0.74% for FXC.AS and 0.40% for IDVY.AS.