FXC.AS vs. IUVD.L

Last updated Jun 5, 2026

FXC.AS (iShares China Large Cap UCITS ETF) and IUVD.L (iShares Edge MSCI USA Value Factor UCITS ETF USD (Dist)) are both exchange-traded funds - FXC.AS is a China Equities fund tracking the MSCI China NR USD, while IUVD.L is a Large Cap Value Equities fund tracking the Russell 1000 Value TR USD. Both are passively managed. Over the past 5 years, FXC.AS returned -2.02%/yr vs 16.80%/yr for IUVD.L. At a 0.36 correlation, their price movements are largely independent. FXC.AS charges 0.74%/yr vs 0.20%/yr for IUVD.L.

Performance

FXC.AS vs. IUVD.L - 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 Edge MSCI USA Value Factor UCITS ETF USD (Dist) (IUVD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FXC.AS is traded in EUR, while IUVD.L is traded in USD. To make them comparable, the IUVD.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, FXC.AS achieves a -6.20% return, which is significantly lower than IUVD.L's 48.10% return.

FXC.AS

• 1D: -0.39%
• 1M: -2.11%
• YTD: -6.20%
• 6M: -8.22%
• 1Y: -1.13%
• 3Y*: 9.37%
• 5Y*: -2.02%
• 10Y*: 3.01%

IUVD.L

• 1D: -1.12%
• 1M: 16.47%
• YTD: 48.10%
• 6M: 50.76%
• 1Y: 86.01%
• 3Y*: 29.91%
• 5Y*: 16.80%
• 10Y*: —

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

FXC.AS vs. IUVD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FXC.AS iShares China Large Cap UCITS ETF	-6.20%	14.11%	38.75%	-15.70%	-16.24%	-13.34%	1.28%	15.82%	-11.35%
IUVD.L iShares Edge MSCI USA Value Factor UCITS ETF USD (Dist)	48.10%	17.22%	13.54%	11.12%	-9.57%	39.33%	-9.53%	28.47%	-5.46%

Correlation

The correlation between FXC.AS and IUVD.L is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (All Time) Calculated using the full available price history since Feb 26, 2018	0.36

Return for Risk

FXC.AS vs. IUVD.L — 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: 8
FXC.AS Sharpe Ratio Rank: 9
FXC.AS Sortino Ratio Rank: 8
FXC.AS Omega Ratio Rank: 8
FXC.AS Calmar Ratio Rank: 9
FXC.AS Martin Ratio Rank: 8

IUVD.L

IUVD.L Risk / Return Rank: 97
IUVD.L Sharpe Ratio Rank: 98
IUVD.L Sortino Ratio Rank: 98
IUVD.L Omega Ratio Rank: 97
IUVD.L Calmar Ratio Rank: 97
IUVD.L Martin Ratio Rank: 97

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. IUVD.L - 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 Edge MSCI USA Value Factor UCITS ETF USD (Dist) (IUVD.L). 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	IUVD.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.06	5.06	-5.12
Sortino ratio: Return per unit of downside risk	0.04	6.56	-6.52
Omega ratio: Gain probability vs. loss probability	1.00	1.84	-0.84
Calmar ratio: Return relative to maximum drawdown	-0.07	13.29	-13.36
Martin ratio: Return relative to average drawdown	-0.16	54.31	-54.47
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. IUVD.L - Sharpe Ratio Comparison

The current FXC.AS Sharpe Ratio is -0.06, which is lower than the IUVD.L Sharpe Ratio of 5.06. The chart below compares the historical Sharpe Ratios of FXC.AS and IUVD.L, 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	IUVD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.06	5.06	-5.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.07	0.96	-1.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.72	-0.50

Drawdowns

FXC.AS vs. IUVD.L - Drawdown Comparison

The maximum FXC.AS drawdown since its inception was -66.56%, which is greater than IUVD.L's maximum drawdown of -38.85%. Use the drawdown chart below to compare losses from any high point for FXC.AS and IUVD.L.

Drawdown Indicators

	FXC.AS	IUVD.L	Difference
Max Drawdown Largest peak-to-trough decline	-66.56%	-38.85%	-27.71%
Max Drawdown (1Y) Largest decline over 1 year	-15.19%	-6.44%	-8.75%
Max Drawdown (3Y) Largest decline over 3 years	-27.68%	-22.36%	-5.32%
Max Drawdown (5Y) Largest decline over 5 years	-47.26%	-22.36%	-24.90%
Max Drawdown (10Y) Largest decline over 10 years	-53.70%	—	—
Current Drawdown Current decline from peak	-23.10%	-1.12%	-21.98%
Average Drawdown Average peak-to-trough decline	-25.51%	-7.23%	-18.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.09%	1.58%	+5.51%

Volatility

FXC.AS vs. IUVD.L - Volatility Comparison

iShares China Large Cap UCITS ETF (FXC.AS) and iShares Edge MSCI USA Value Factor UCITS ETF USD (Dist) (IUVD.L) have volatilities of 6.92% and 7.16%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXC.AS	IUVD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.92%	7.16%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	12.77%	13.39%	-0.62%
Volatility (1Y) Calculated over the trailing 1-year period	17.95%	16.90%	+1.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.17%	17.57%	+10.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.05%	19.91%	+5.14%

FXC.AS vs. IUVD.L - Expense Ratio Comparison

FXC.AS has a 0.74% expense ratio, which is higher than IUVD.L's 0.20% expense ratio.

Dividends

FXC.AS vs. IUVD.L - Dividend Comparison

FXC.AS's dividend yield for the trailing twelve months is around 2.24%, more than IUVD.L's 1.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXC.AS iShares China Large Cap UCITS ETF	2.24%	2.07%	2.48%	2.68%	2.53%	2.10%	2.93%	2.74%	3.48%	2.83%	2.62%	2.94%
IUVD.L iShares Edge MSCI USA Value Factor UCITS ETF USD (Dist)	1.12%	1.64%	2.24%	2.27%	2.61%	1.85%	2.26%	2.26%	1.73%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

FXC.AS and IUVD.L have a correlation of 0.34, 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 IUVD.L?

On fees, IUVD.L 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, FXC.AS or IUVD.L?

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

What is the main difference between FXC.AS and IUVD.L?

FXC.AS is categorized as China Equities, while IUVD.L is Large Cap Value Equities. FXC.AS tracks MSCI China NR USD, while IUVD.L tracks Russell 1000 Value TR USD. Their fees differ too: 0.74% for FXC.AS and 0.20% for IUVD.L.