ICGA.DE vs. CNIE.DE
ICGA.DE (iShares MSCI China UCITS ETF USD Acc) and CNIE.DE (VanEck New China ESG UCITS ETF A) are both China Equities funds - ICGA.DE tracks the MSCI China while CNIE.DE tracks the MarketGrader New China ESG. Both are passively managed. Over the past 3 years, ICGA.DE returned 7.72%/yr vs -0.19%/yr for CNIE.DE. A 0.76 correlation means they provide meaningful diversification when combined. ICGA.DE charges 0.28%/yr vs 0.60%/yr for CNIE.DE.
Performance
ICGA.DE vs. CNIE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ICGA.DE achieves a -6.86% return, which is significantly lower than CNIE.DE's -3.41% return.
ICGA.DE
- 1D
- -0.54%
- 1M
- -2.09%
- YTD
- -6.86%
- 6M
- -8.51%
- 1Y
- 2.73%
- 3Y*
- 7.72%
- 5Y*
- -4.32%
- 10Y*
- —
CNIE.DE
- 1D
- -0.76%
- 1M
- -2.69%
- YTD
- -3.41%
- 6M
- -4.66%
- 1Y
- 6.66%
- 3Y*
- -0.19%
- 5Y*
- —
- 10Y*
- —
ICGA.DE vs. CNIE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ICGA.DE iShares MSCI China UCITS ETF USD Acc | -6.86% | 16.64% | 27.28% | -14.71% | -15.17% | -5.58% |
CNIE.DE VanEck New China ESG UCITS ETF A | -3.41% | 8.76% | 7.28% | -12.40% | -22.84% | 8.74% |
Correlation
The correlation between ICGA.DE and CNIE.DE is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021 | 0.76 |
The correlation between ICGA.DE and CNIE.DE has been stable across timeframes, ranging from 0.76 to 0.79 - a consistent structural relationship.
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Return for Risk
ICGA.DE vs. CNIE.DE — Risk / Return Rank
ICGA.DE
CNIE.DE
ICGA.DE vs. CNIE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China UCITS ETF USD Acc (ICGA.DE) and VanEck New China ESG UCITS ETF A (CNIE.DE). 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.
| ICGA.DE | CNIE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.08 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.16 | 0.53 | -0.37 |
| Martin ratioReturn relative to average drawdown | 0.34 | 1.17 | -0.83 |
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
| ICGA.DE | CNIE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.15 | 0.42 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.15 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | -0.16 | +0.21 |
Drawdowns
ICGA.DE vs. CNIE.DE - Drawdown Comparison
The maximum ICGA.DE drawdown since its inception was -55.95%, which is greater than CNIE.DE's maximum drawdown of -45.69%. Use the drawdown chart below to compare losses from any high point for ICGA.DE and CNIE.DE.
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Drawdown Indicators
| ICGA.DE | CNIE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.95% | -45.69% | -10.26% |
Max Drawdown (1Y)Largest decline over 1 year | -16.84% | -12.45% | -4.39% |
Max Drawdown (3Y)Largest decline over 3 years | -24.41% | -29.20% | +4.79% |
Max Drawdown (5Y)Largest decline over 5 years | -49.32% | — | — |
Current DrawdownCurrent decline from peak | -32.56% | -25.25% | -7.31% |
Average DrawdownAverage peak-to-trough decline | -28.80% | -24.67% | -4.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.08% | 5.70% | +2.38% |
Volatility
ICGA.DE vs. CNIE.DE - Volatility Comparison
iShares MSCI China UCITS ETF USD Acc (ICGA.DE) has a higher volatility of 7.19% compared to VanEck New China ESG UCITS ETF A (CNIE.DE) at 4.49%. This indicates that ICGA.DE's price experiences larger fluctuations and is considered to be riskier than CNIE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICGA.DE | CNIE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.19% | 4.49% | +2.70% |
Volatility (6M)Calculated over the trailing 6-month period | 13.31% | 10.68% | +2.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.64% | 16.04% | +2.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.66% | 24.27% | +3.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.97% | 24.27% | +2.70% |
ICGA.DE vs. CNIE.DE - Expense Ratio Comparison
ICGA.DE has a 0.28% expense ratio, which is lower than CNIE.DE's 0.60% expense ratio.
Dividends
ICGA.DE vs. CNIE.DE - Dividend Comparison
Neither ICGA.DE nor CNIE.DE has paid dividends to shareholders.
Frequently Asked Questions
ICGA.DE and CNIE.DE have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICGA.DE is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICGA.DE is cheaper with a 0.28% expense ratio, compared with 0.60% for CNIE.DE.
ICGA.DE tracks MSCI China, while CNIE.DE tracks MarketGrader New China ESG. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.28% for ICGA.DE and 0.60% for CNIE.DE.
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