ICHN.AS vs. CNYA
ICHN.AS (iShares MSCI China UCITS ETF) and CNYA (iShares MSCI China A ETF) are both China Equities funds from iShares - ICHN.AS tracks the MSCI China NR USD while CNYA tracks the MSCI China A Inclusion Index. Both are passively managed. Over the past 5 years, ICHN.AS returned -4.35%/yr vs -2.34%/yr for CNYA. A 0.65 correlation means they provide meaningful diversification when combined. ICHN.AS charges 0.40%/yr vs 0.60%/yr for CNYA.
Performance
ICHN.AS vs. CNYA - Performance Comparison
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Returns By Period
In the year-to-date period, ICHN.AS achieves a -9.01% return, which is significantly lower than CNYA's 1.02% return.
ICHN.AS
- 1D
- 2.94%
- 1M
- 2.60%
- 6M
- -12.29%
- YTD
- -9.01%
- 1Y
- -3.68%
- 3Y*
- 9.26%
- 5Y*
- -4.35%
- 10Y*
- —
- ALL TIME*
- 1.05%
CNYA
- 1D
- 0.52%
- 1M
- -7.76%
- 6M
- -1.64%
- YTD
- 1.02%
- 1Y
- 19.43%
- 3Y*
- 9.00%
- 5Y*
- -2.34%
- 10Y*
- 5.13%
- ALL TIME*
- 5.56%
ICHN.AS vs. CNYA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ICHN.AS iShares MSCI China UCITS ETF | -9.01% | 31.69% | 18.23% | -11.49% | -22.52% | -22.05% | 29.63% | 9.71% |
CNYA iShares MSCI China A ETF | 1.02% | 26.48% | 10.78% | -13.76% | -26.51% | 3.53% | 41.54% | 11.06% |
Correlation
The correlation between ICHN.AS and CNYA is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2019 | 0.65 |
The correlation between ICHN.AS and CNYA has been stable across timeframes, ranging from 0.63 to 0.68 - a consistent structural relationship.
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Return for Risk
ICHN.AS vs. CNYA — Risk / Return Rank
ICHN.AS
CNYA
ICHN.AS vs. CNYA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China UCITS ETF (ICHN.AS) 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.
| ICHN.AS | CNYA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.55 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.18 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 1.88 | -2.04 |
| Martin ratioReturn relative to average drawdown | -0.34 | 6.20 | -6.54 |
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Drawdowns
ICHN.AS vs. CNYA - Drawdown Comparison
The maximum ICHN.AS drawdown since its inception was -62.67%, which is greater than CNYA's maximum drawdown of -49.49%. Use the drawdown chart below to compare losses from any high point for ICHN.AS and CNYA.
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Drawdown Indicators
| ICHN.AS | CNYA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.67% | -49.49% | -13.18% |
Max Drawdown (1Y)Largest decline over 1 year | -22.86% | -10.37% | -12.49% |
Max Drawdown (3Y)Largest decline over 3 years | -25.27% | -33.35% | +8.08% |
Max Drawdown (5Y)Largest decline over 5 years | -53.12% | -44.65% | -8.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.49% | — |
Current DrawdownCurrent decline from peak | -36.55% | -19.98% | -16.57% |
Average DrawdownAverage peak-to-trough decline | -32.58% | -20.61% | -11.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.74% | 3.14% | +7.60% |
Volatility
ICHN.AS vs. CNYA - Volatility Comparison
The current volatility for iShares MSCI China UCITS ETF (ICHN.AS) is 6.61%, while iShares MSCI China A ETF (CNYA) has a volatility of 9.22%. This indicates that ICHN.AS 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
| ICHN.AS | CNYA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.61% | 9.22% | -2.61% |
Volatility (6M)Calculated over the trailing 6-month period | 15.50% | 15.53% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.65% | 19.94% | +0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.12% | 24.09% | +5.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.91% | 23.63% | +4.28% |
ICHN.AS vs. CNYA - Expense Ratio Comparison
ICHN.AS has a 0.40% expense ratio, which is lower than CNYA's 0.60% expense ratio.
Dividends
ICHN.AS vs. CNYA - Dividend Comparison
ICHN.AS has not paid dividends to shareholders, while CNYA's dividend yield for the trailing twelve months is around 1.86%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CNYA iShares MSCI China A ETF | 1.86% | 1.92% | 2.51% | 4.23% | 2.69% | 1.11% | 1.06% | 1.21% | 3.92% | 0.97% | 1.38% |
ICHN.AS iShares MSCI China UCITS ETF | 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
ICHN.AS and CNYA have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICHN.AS is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICHN.AS is cheaper with a 0.40% expense ratio, compared with 0.60% for CNYA.
ICHN.AS tracks MSCI China NR USD, while CNYA tracks MSCI China A Inclusion Index. Their fees differ too: 0.40% for ICHN.AS and 0.60% for CNYA.
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