GAAEX vs. ICHKX
GAAEX (Guinness Atkinson Alternative Energy Fund) and ICHKX (Guinness Atkinson China And Hong Kong Fund) are both mutual funds - GAAEX is a Global Equities fund managed by Guinness Atkinson, while ICHKX is a China Equities fund managed by Guinness Atkinson. Over the past 10 years, GAAEX returned 9.84%/yr vs 3.39%/yr for ICHKX. Their 0.58 correlation means they have sometimes moved together and sometimes differently. GAAEX charges 1.98%/yr vs 1.71%/yr for ICHKX.
Performance
GAAEX vs. ICHKX - Performance Comparison
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Returns By Period
In the year-to-date period, GAAEX achieves a 8.50% return, which is significantly higher than ICHKX's -0.49% return. Over the past 10 years, GAAEX has outperformed ICHKX with an annualized return of 9.84%, while ICHKX has yielded a comparatively lower 3.39% annualized return.
GAAEX
- 1D
- 3.45%
- 1M
- -2.82%
- 6M
- 2.23%
- YTD
- 8.50%
- 1Y
- 20.21%
- 3Y*
- 2.79%
- 5Y*
- 0.89%
- 10Y*
- 9.84%
- ALL TIME*
- -2.16%
ICHKX
- 1D
- 2.02%
- 1M
- 10.14%
- 6M
- -5.32%
- YTD
- -0.49%
- 1Y
- 11.84%
- 3Y*
- 3.04%
- 5Y*
- -4.27%
- 10Y*
- 3.39%
- ALL TIME*
- 4.97%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
GAAEX vs. ICHKX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GAAEX Guinness Atkinson Alternative Energy Fund | 8.50% | 26.64% | -11.85% | -2.39% | -12.67% | 8.40% | 86.45% | 30.20% | -15.49% | 20.68% |
ICHKX Guinness Atkinson China And Hong Kong Fund | -0.49% | 28.97% | 0.05% | -14.52% | -23.67% | -6.90% | 14.58% | 30.08% | -20.50% | 49.07% |
Correlation
The correlation between GAAEX and ICHKX is 0.44, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.44 |
Correlation (3Y) Balances recent behavior with more history. | 0.46 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.47 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.55 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2006 | 0.58 |
The correlation between GAAEX and ICHKX shifts across timeframes, from 0.44 (1 year) to 0.58 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GAAEX vs. ICHKX — Risk / Return Rank
GAAEX
ICHKX
GAAEX vs. ICHKX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Guinness Atkinson Alternative Energy Fund (GAAEX) and Guinness Atkinson China And Hong Kong Fund (ICHKX). 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.
| GAAEX | ICHKX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.10 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | 0.47 | +0.71 |
| Martin ratioReturn relative to average drawdown | 3.45 | 1.37 | +2.08 |
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Drawdowns
GAAEX vs. ICHKX - Drawdown Comparison
The maximum GAAEX drawdown since its inception was -85.83%, which is greater than ICHKX's maximum drawdown of -70.67%. Use the drawdown chart below to compare losses from any high point for GAAEX and ICHKX.
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Drawdown Indicators
| GAAEX | ICHKX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.83% | -70.67% | -15.16% |
Max Drawdown (1Y)Largest decline over 1 year | -14.57% | -18.33% | +3.76% |
Max Drawdown (3Y)Largest decline over 3 years | -30.55% | -26.21% | -4.34% |
Max Drawdown (5Y)Largest decline over 5 years | -40.64% | -48.88% | +8.24% |
Max Drawdown (10Y)Largest decline over 10 years | -40.64% | -58.39% | +17.75% |
Current DrawdownCurrent decline from peak | -53.71% | -36.68% | -17.03% |
Average DrawdownAverage peak-to-trough decline | -63.55% | -27.27% | -36.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.99% | 6.31% | -1.32% |
Volatility
GAAEX vs. ICHKX - Volatility Comparison
Guinness Atkinson Alternative Energy Fund (GAAEX) has a higher volatility of 6.67% compared to Guinness Atkinson China And Hong Kong Fund (ICHKX) at 5.60%. This indicates that GAAEX's price experiences larger fluctuations and is considered to be riskier than ICHKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GAAEX | ICHKX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.67% | 5.60% | +1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 17.65% | 12.88% | +4.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.55% | 17.22% | +4.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.77% | 23.61% | -0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.45% | 22.45% | 0.00% |
GAAEX vs. ICHKX - Expense Ratio Comparison
GAAEX has a 1.98% expense ratio, which is higher than ICHKX's 1.71% expense ratio.
Dividends
GAAEX vs. ICHKX - Dividend Comparison
GAAEX's dividend yield for the trailing twelve months is around 0.30%, less than ICHKX's 1.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GAAEX Guinness Atkinson Alternative Energy Fund | 0.30% | 0.33% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.09% | 0.28% | 0.00% | 0.00% |
ICHKX Guinness Atkinson China And Hong Kong Fund | 1.06% | 1.06% | 1.11% | 0.74% | 0.86% | 20.44% | 3.57% | 4.37% | 12.53% | 6.76% | 5.31% | 12.25% |
Frequently Asked Questions
GAAEX and ICHKX have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GAAEX has higher volatility (6.67%) compared to ICHKX (5.60%). In terms of maximum drawdown, GAAEX dropped -85.83% vs ICHKX's -70.67%.
GAAEX currently has the higher Sharpe Ratio (0.80 vs 0.50), 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.
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