ICGA.DE vs. CNYA
ICGA.DE (iShares MSCI China UCITS ETF USD Acc) and CNYA (iShares MSCI China A ETF) are both China Equities funds from iShares - ICGA.DE tracks the MSCI China while CNYA tracks the MSCI China A Inclusion Index. Both are passively managed. Over the past 5 years, ICGA.DE returned -4.52%/yr vs -1.38%/yr for CNYA. A 0.63 correlation means they provide meaningful diversification when combined. ICGA.DE charges 0.28%/yr vs 0.60%/yr for CNYA.
Performance
ICGA.DE vs. CNYA - Performance Comparison
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Different Trading Currencies
ICGA.DE is traded in EUR, while CNYA is traded in USD. To make them comparable, the CNYA values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ICGA.DE achieves a -9.68% return, which is significantly lower than CNYA's 3.20% return.
ICGA.DE
- 1D
- -2.46%
- 1M
- -0.63%
- 6M
- -13.45%
- YTD
- -9.68%
- 1Y
- -3.45%
- 3Y*
- 7.61%
- 5Y*
- -4.52%
- 10Y*
- —
CNYA
- 1D
- -2.63%
- 1M
- -7.14%
- 6M
- -0.78%
- YTD
- 3.20%
- 1Y
- 20.96%
- 3Y*
- 7.80%
- 5Y*
- -1.38%
- 10Y*
- 4.59%
ICGA.DE vs. CNYA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ICGA.DE iShares MSCI China UCITS ETF USD Acc | -9.68% | 16.59% | 27.32% | -14.87% | -15.07% | -17.34% | 15.34% | 14.19% |
CNYA iShares MSCI China A ETF | 3.20% | 11.47% | 18.10% | -16.34% | -21.96% | 11.28% | 29.87% | 9.33% |
Correlation
The correlation between ICGA.DE and CNYA is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2019 | 0.63 |
The correlation between ICGA.DE and CNYA has been stable across timeframes, ranging from 0.61 to 0.65 - a consistent structural relationship.
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Return for Risk
ICGA.DE vs. CNYA — Risk / Return Rank
ICGA.DE
CNYA
ICGA.DE vs. CNYA - 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 iShares MSCI China A ETF (CNYA). 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.
| ICGA.DE | CNYA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.27 | ||
| Sortino ratioReturn per unit of downside risk | -1.69 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.20 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 2.01 | -2.18 |
| Martin ratioReturn relative to average drawdown | -0.34 | 7.05 | -7.39 |
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Drawdowns
ICGA.DE vs. CNYA - Drawdown Comparison
The maximum ICGA.DE drawdown since its inception was -55.91%, which is greater than CNYA's maximum drawdown of -43.64%. Use the drawdown chart below to compare losses from any high point for ICGA.DE and CNYA.
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Drawdown Indicators
| ICGA.DE | CNYA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.91% | -43.64% | -12.27% |
Max Drawdown (1Y)Largest decline over 1 year | -20.80% | -10.47% | -10.33% |
Max Drawdown (3Y)Largest decline over 3 years | -24.29% | -32.98% | +8.69% |
Max Drawdown (5Y)Largest decline over 5 years | -46.23% | -42.08% | -4.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.64% | — |
Current DrawdownCurrent decline from peak | -34.62% | -16.21% | -18.41% |
Average DrawdownAverage peak-to-trough decline | -28.86% | -16.11% | -12.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.15% | 2.98% | +7.17% |
Volatility
ICGA.DE vs. CNYA - Volatility Comparison
The current volatility for iShares MSCI China UCITS ETF USD Acc (ICGA.DE) is 6.00%, while iShares MSCI China A ETF (CNYA) has a volatility of 9.09%. This indicates that ICGA.DE experiences smaller price fluctuations and is considered to be less risky than CNYA 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 | CNYA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 9.09% | -3.09% |
Volatility (6M)Calculated over the trailing 6-month period | 13.96% | 14.69% | -0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.38% | 19.32% | +0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.74% | 23.20% | +4.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.97% | 23.32% | +3.65% |
ICGA.DE vs. CNYA - Expense Ratio Comparison
ICGA.DE has a 0.28% expense ratio, which is lower than CNYA's 0.60% expense ratio.
Dividends
ICGA.DE vs. CNYA - Dividend Comparison
ICGA.DE has not paid dividends to shareholders, while CNYA's dividend yield for the trailing twelve months is around 1.87%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CNYA iShares MSCI China A ETF | 1.87% | 1.92% | 2.51% | 4.23% | 2.69% | 1.11% | 1.06% | 1.21% | 3.92% | 0.97% | 1.38% |
ICGA.DE iShares MSCI China UCITS ETF USD Acc | 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
ICGA.DE and CNYA have a correlation of 0.61, 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 CNYA.
ICGA.DE tracks MSCI China, while CNYA tracks MSCI China A Inclusion Index. Their fees differ too: 0.28% for ICGA.DE and 0.60% for CNYA.
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