FXC.L vs. JRCD.L
FXC.L (iShares China Large Cap UCITS) and JRCD.L (JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)) are both China Equities funds - FXC.L tracks the MSCI China NR USD while JRCD.L tracks the MSCI China A Onshore NR CNY. Both are passively managed. Over the past 3 years, FXC.L returned 9.76%/yr vs 8.71%/yr for JRCD.L. A 0.68 correlation means they provide meaningful diversification when combined. FXC.L charges 0.74%/yr vs 0.40%/yr for JRCD.L.
Performance
FXC.L vs. JRCD.L - Performance Comparison
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Returns By Period
In the year-to-date period, FXC.L achieves a -6.72% return, which is significantly lower than JRCD.L's 10.67% return.
FXC.L
- 1D
- -2.40%
- 1M
- -1.78%
- YTD
- -6.72%
- 6M
- -8.20%
- 1Y
- 3.46%
- 3Y*
- 9.76%
- 5Y*
- -1.37%
- 10Y*
- 4.68%
JRCD.L
- 1D
- 1.96%
- 1M
- 3.49%
- YTD
- 10.67%
- 6M
- 14.19%
- 1Y
- 41.07%
- 3Y*
- 8.71%
- 5Y*
- —
- 10Y*
- —
FXC.L vs. JRCD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FXC.L iShares China Large Cap UCITS | -6.72% | 20.50% | 33.78% | -17.86% | -8.55% |
JRCD.L JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) | 10.67% | 18.92% | 11.42% | -17.74% | -9.39% |
Correlation
The correlation between FXC.L and JRCD.L is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2022 | 0.68 |
The correlation between FXC.L and JRCD.L has been stable across timeframes, ranging from 0.62 to 0.68 - a consistent structural relationship.
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Return for Risk
FXC.L vs. JRCD.L — Risk / Return Rank
FXC.L
JRCD.L
FXC.L vs. JRCD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares China Large Cap UCITS (FXC.L) and JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRCD.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.L | JRCD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.64 | ||
| Sortino ratioReturn per unit of downside risk | -3.34 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.51 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | 0.22 | 6.54 | -6.32 |
| Martin ratioReturn relative to average drawdown | 0.48 | 19.58 | -19.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FXC.L | JRCD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.19 | 2.83 | -2.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.10 | +0.21 |
Drawdowns
FXC.L vs. JRCD.L - Drawdown Comparison
The maximum FXC.L drawdown since its inception was -60.51%, which is greater than JRCD.L's maximum drawdown of -36.64%. Use the drawdown chart below to compare losses from any high point for FXC.L and JRCD.L.
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Drawdown Indicators
| FXC.L | JRCD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.51% | -36.64% | -23.87% |
Max Drawdown (1Y)Largest decline over 1 year | -15.54% | -6.53% | -9.01% |
Max Drawdown (3Y)Largest decline over 3 years | -27.53% | -25.39% | -2.14% |
Max Drawdown (5Y)Largest decline over 5 years | -46.74% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -53.90% | — | — |
Current DrawdownCurrent decline from peak | -21.71% | -1.80% | -19.91% |
Average DrawdownAverage peak-to-trough decline | -18.76% | -17.67% | -1.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.20% | 2.19% | +5.01% |
Volatility
FXC.L vs. JRCD.L - Volatility Comparison
iShares China Large Cap UCITS (FXC.L) has a higher volatility of 6.71% compared to JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRCD.L) at 5.56%. This indicates that FXC.L's price experiences larger fluctuations and is considered to be riskier than JRCD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXC.L | JRCD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.71% | 5.56% | +1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 12.57% | 10.24% | +2.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.97% | 15.13% | +2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.14% | 21.39% | +6.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.95% | 21.39% | +3.56% |
FXC.L vs. JRCD.L - Expense Ratio Comparison
FXC.L has a 0.74% expense ratio, which is higher than JRCD.L's 0.40% expense ratio.
Dividends
FXC.L vs. JRCD.L - Dividend Comparison
FXC.L's dividend yield for the trailing twelve months is around 2.58%, more than JRCD.L's 0.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXC.L iShares China Large Cap UCITS | 2.58% | 2.37% | 2.99% | 3.10% | 2.85% | 2.51% | 3.26% | 3.22% | 3.89% | 3.18% | 3.04% | 4.00% |
JRCD.L JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) | 0.86% | 1.35% | 1.97% | 1.67% | 1.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FXC.L and JRCD.L have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JRCD.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JRCD.L is cheaper with a 0.40% expense ratio, compared with 0.74% for FXC.L.
FXC.L tracks MSCI China NR USD, while JRCD.L tracks MSCI China A Onshore NR CNY. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.74% for FXC.L and 0.40% for JRCD.L.
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