HMCT.L vs. CNYA.L
HMCT.L (HSBC MSCI CHINA A UCITS ETF) and CNYA.L (iShares MSCI China A UCITS ETF USD (Acc)) are both China Equities funds - HMCT.L tracks the MSCI China A Onshore NR CNY while CNYA.L tracks the MSCI China A Inclusion Index (Net). Both are passively managed. Over the past 5 years, HMCT.L returned -1.83%/yr vs -1.95%/yr for CNYA.L. With a 0.97 correlation, they move nearly in lockstep. HMCT.L charges 0.30%/yr vs 0.40%/yr for CNYA.L.
Performance
HMCT.L vs. CNYA.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HMCT.L achieves a 0.64% return, which is significantly lower than CNYA.L's 0.69% return.
HMCT.L
- 1D
- -3.51%
- 1M
- -8.60%
- 6M
- -2.04%
- YTD
- 0.64%
- 1Y
- 20.07%
- 3Y*
- 8.63%
- 5Y*
- -1.83%
- 10Y*
- —
CNYA.L
- 1D
- -3.49%
- 1M
- -8.65%
- 6M
- -2.19%
- YTD
- 0.69%
- 1Y
- 20.29%
- 3Y*
- 8.65%
- 5Y*
- -1.95%
- 10Y*
- 5.05%
HMCT.L vs. CNYA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HMCT.L HSBC MSCI CHINA A UCITS ETF | 0.64% | 25.91% | 11.74% | -13.89% | -25.90% | 2.76% | 44.06% | 34.24% | -14.27% |
CNYA.L iShares MSCI China A UCITS ETF USD (Acc) | 0.69% | 26.26% | 11.19% | -14.20% | -26.19% | 3.18% | 42.31% | 34.76% | -14.14% |
Correlation
The correlation between HMCT.L and CNYA.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2018 | 0.97 |
The correlation between HMCT.L and CNYA.L has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HMCT.L vs. CNYA.L — Risk / Return Rank
HMCT.L
CNYA.L
HMCT.L vs. CNYA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI CHINA A UCITS ETF (HMCT.L) and iShares MSCI China A UCITS ETF USD (Acc) (CNYA.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.
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.
| HMCT.L | CNYA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.19 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 1.83 | 0.00 |
| Martin ratioReturn relative to average drawdown | 6.43 | 6.53 | -0.10 |
Loading charts...
Drawdowns
HMCT.L vs. CNYA.L - Drawdown Comparison
The maximum HMCT.L drawdown since its inception was -49.07%, smaller than the maximum CNYA.L drawdown of -52.23%. Use the drawdown chart below to compare losses from any high point for HMCT.L and CNYA.L.
Loading charts...
Drawdown Indicators
| HMCT.L | CNYA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.07% | -52.23% | +3.16% |
Max Drawdown (1Y)Largest decline over 1 year | -10.89% | -11.03% | +0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -28.42% | -27.99% | -0.43% |
Max Drawdown (5Y)Largest decline over 5 years | -44.11% | -44.56% | +0.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.31% | — |
Current DrawdownCurrent decline from peak | -19.30% | -19.75% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -21.48% | -32.14% | +10.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.11% | 3.10% | +0.01% |
Volatility
HMCT.L vs. CNYA.L - Volatility Comparison
HSBC MSCI CHINA A UCITS ETF (HMCT.L) and iShares MSCI China A UCITS ETF USD (Acc) (CNYA.L) have volatilities of 9.41% and 9.39%, 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.
Loading charts...
Volatility by Period
| HMCT.L | CNYA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.41% | 9.39% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 15.23% | 15.41% | -0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.40% | 19.65% | -0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.71% | 22.95% | -0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.80% | 22.92% | +0.88% |
HMCT.L vs. CNYA.L - Expense Ratio Comparison
HMCT.L has a 0.30% expense ratio, which is lower than CNYA.L's 0.40% expense ratio.
Dividends
HMCT.L vs. CNYA.L - Dividend Comparison
HMCT.L's dividend yield for the trailing twelve months is around 1.81%, while CNYA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CNYA.L iShares MSCI China A UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HMCT.L HSBC MSCI CHINA A UCITS ETF | 1.81% | 1.73% | 2.03% | 2.16% | 1.69% | 1.12% | 0.84% | 1.71% | 0.29% |
Frequently Asked Questions
With a correlation of 0.98, HMCT.L and CNYA.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, HMCT.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HMCT.L is cheaper with a 0.30% expense ratio, compared with 0.40% for CNYA.L.
HMCT.L tracks MSCI China A Onshore NR CNY, while CNYA.L tracks MSCI China A Inclusion Index (Net). They also come from different issuers: HSBC and iShares. Their fees differ too: 0.30% for HMCT.L and 0.40% for CNYA.L.
Find the right allocation for HMCT.L and CNYA.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer