GXC vs. ISVBF
GXC (SPDR S&P China ETF) and ISVBF (iShares MSCI China A UCITS ETF) are both China Equities funds - GXC tracks the S&P China BMI Index while ISVBF tracks the MSCI China A Inclusion Index. Both are passively managed. Over the past 5 years, GXC returned -4.64%/yr vs -6.00%/yr for ISVBF. At a 0.35 correlation, their price movements are largely independent. GXC charges 0.59%/yr vs 0.40%/yr for ISVBF.
Performance
GXC vs. ISVBF - Performance Comparison
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Returns By Period
In the year-to-date period, GXC achieves a -8.88% return, which is significantly higher than ISVBF's -11.89% return.
GXC
- 1D
- -1.39%
- 1M
- -3.83%
- 6M
- -15.24%
- YTD
- -8.88%
- 1Y
- 1.78%
- 3Y*
- 7.68%
- 5Y*
- -4.64%
- 10Y*
- 4.21%
ISVBF
- 1D
- -1.30%
- 1M
- -3.57%
- 6M
- -17.04%
- YTD
- -11.89%
- 1Y
- -2.60%
- 3Y*
- 7.37%
- 5Y*
- -6.00%
- 10Y*
- —
GXC vs. ISVBF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GXC SPDR S&P China ETF | -8.88% | 30.84% | 14.60% | -9.93% | -22.12% | -19.46% |
ISVBF iShares MSCI China A UCITS ETF | -11.89% | 30.64% | 18.96% | -9.28% | -23.01% | -22.12% |
Correlation
The correlation between GXC and ISVBF is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.35 |
Over the past year, GXC and ISVBF have become more correlated (0.66) than their long-term average of 0.35, meaning their price movements have been converging.
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Return for Risk
GXC vs. ISVBF — Risk / Return Rank
GXC
ISVBF
GXC vs. ISVBF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P China ETF (GXC) and iShares MSCI China A UCITS ETF (ISVBF). 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.
| GXC | ISVBF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.01 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | -0.11 | +0.21 |
| Martin ratioReturn relative to average drawdown | 0.23 | -0.25 | +0.48 |
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Drawdowns
GXC vs. ISVBF - Drawdown Comparison
The maximum GXC drawdown since its inception was -71.96%, which is greater than ISVBF's maximum drawdown of -53.78%. Use the drawdown chart below to compare losses from any high point for GXC and ISVBF.
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Drawdown Indicators
| GXC | ISVBF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.96% | -53.78% | -18.18% |
Max Drawdown (1Y)Largest decline over 1 year | -17.77% | -24.14% | +6.37% |
Max Drawdown (3Y)Largest decline over 3 years | -25.54% | -24.14% | -1.40% |
Max Drawdown (5Y)Largest decline over 5 years | -51.69% | -52.51% | +0.82% |
Max Drawdown (10Y)Largest decline over 10 years | -60.23% | — | — |
Current DrawdownCurrent decline from peak | -35.60% | -28.59% | -7.01% |
Average DrawdownAverage peak-to-trough decline | -28.85% | -32.65% | +3.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.80% | 10.37% | -2.57% |
Volatility
GXC vs. ISVBF - Volatility Comparison
The current volatility for SPDR S&P China ETF (GXC) is 5.22%, while iShares MSCI China A UCITS ETF (ISVBF) has a volatility of 7.77%. This indicates that GXC experiences smaller price fluctuations and is considered to be less risky than ISVBF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GXC | ISVBF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.22% | 7.77% | -2.55% |
Volatility (6M)Calculated over the trailing 6-month period | 13.89% | 27.10% | -13.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.24% | 31.44% | -12.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.97% | 30.44% | -1.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.04% | 30.13% | -4.09% |
GXC vs. ISVBF - Expense Ratio Comparison
GXC has a 0.59% expense ratio, which is higher than ISVBF's 0.40% expense ratio.
Dividends
GXC vs. ISVBF - Dividend Comparison
GXC's dividend yield for the trailing twelve months is around 2.27%, while ISVBF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GXC SPDR S&P China ETF | 2.27% | 2.40% | 2.81% | 3.70% | 2.67% | 1.35% | 1.04% | 1.60% | 2.03% | 1.84% | 2.05% | 2.85% |
ISVBF iShares MSCI China A UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GXC and ISVBF have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISVBF has higher volatility (7.77%) compared to GXC (5.22%). In terms of maximum drawdown, GXC dropped -71.96% vs ISVBF's -53.78%.
On 5-year performance, GXC leads with -4.64% vs -6.00% for ISVBF. On fees, ISVBF is cheaper at 0.40% per year. On volatility, GXC has been the lower-risk option at 5.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GXC has performed better with a -4.64% return vs -6.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISVBF is cheaper with a 0.40% expense ratio, compared with 0.59% for GXC.
GXC has the higher dividend yield at 2.27%, compared with 0.00% for ISVBF.
GXC tracks S&P China BMI Index, while ISVBF tracks MSCI China A Inclusion Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.59% for GXC and 0.40% for ISVBF.
GXC currently has the higher Sharpe Ratio (0.09 vs -0.08), 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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