JRCD.L vs. CNEG.L

Last updated Jun 26, 2026

JRCD.L (JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)) and CNEG.L (Amundi MSCI China ESG Leaders Select UCITS ETF DR (C)) are both China Equities funds - JRCD.L tracks the MSCI China A Onshore NR CNY while CNEG.L tracks the MSCI China NR USD. Both are passively managed. Over the past 3 years, JRCD.L returned -75.84%/yr vs 2.60%/yr for CNEG.L. A 0.66 correlation means they provide meaningful diversification when combined. JRCD.L charges 0.40%/yr vs 0.35%/yr for CNEG.L.

Performance

JRCD.L vs. CNEG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRCD.L) and Amundi MSCI China ESG Leaders Select UCITS ETF DR (C) (CNEG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JRCD.L achieves a 14.82% return, which is significantly higher than CNEG.L's -14.88% return.

JRCD.L

• 1D: 0.25%
• 1M: 2.87%
• YTD: 14.82%
• 6M: 15.91%
• 1Y: -98.56%
• 3Y*: -75.84%
• 5Y*: —
• 10Y*: —

CNEG.L

• 1D: 0.00%
• 1M: -5.08%
• YTD: -14.88%
• 6M: -14.68%
• 1Y: -5.21%
• 3Y*: 2.60%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

JRCD.L vs. CNEG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JRCD.L JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	14.82%	-98.80%	11.42%	-17.74%	-9.39%
CNEG.L Amundi MSCI China ESG Leaders Select UCITS ETF DR (C)	-14.88%	23.90%	11.58%	-14.99%	-16.13%

Correlation

The correlation between JRCD.L and CNEG.L is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (All Time) Calculated using the full available price history since Feb 21, 2022	0.66

The correlation between JRCD.L and CNEG.L shifts across timeframes, from 0.51 (1 year) to 0.66 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JRCD.L vs. CNEG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JRCD.L

JRCD.L Risk / Return Rank: 42
JRCD.L Sharpe Ratio Rank: 9
JRCD.L Sortino Ratio Rank: 100
JRCD.L Omega Ratio Rank: 100
JRCD.L Calmar Ratio Rank: 0
JRCD.L Martin Ratio Rank: 0

CNEG.L

CNEG.L Risk / Return Rank: 8
CNEG.L Sharpe Ratio Rank: 8
CNEG.L Sortino Ratio Rank: 9
CNEG.L Omega Ratio Rank: 9
CNEG.L Calmar Ratio Rank: 8
CNEG.L Martin Ratio Rank: 8

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JRCD.L vs. CNEG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRCD.L) and Amundi MSCI China ESG Leaders Select UCITS ETF DR (C) (CNEG.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.

	JRCD.L	CNEG.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.00	-0.11	+0.11
Sortino ratio: Return per unit of downside risk	246.04	0.17	+245.88
Omega ratio: Gain probability vs. loss probability	80.39	1.03	+79.36
Calmar ratio: Return relative to maximum drawdown	-1.00	-0.13	-0.87
Martin ratio: Return relative to average drawdown	-1.95	-0.20	-1.74

JRCD.L vs. CNEG.L - Sharpe Ratio Comparison

The current JRCD.L Sharpe Ratio is -0.00, which is higher than the CNEG.L Sharpe Ratio of -0.11. The chart below compares the historical Sharpe Ratios of JRCD.L and CNEG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JRCD.L vs. CNEG.L - Drawdown Comparison

The maximum JRCD.L drawdown since its inception was -99.20%, which is greater than CNEG.L's maximum drawdown of -61.05%. Use the drawdown chart below to compare losses from any high point for JRCD.L and CNEG.L.

Drawdown Indicators

	JRCD.L	CNEG.L	Difference
Max Drawdown Largest peak-to-trough decline	-99.20%	-61.05%	-38.15%
Max Drawdown (1Y) Largest decline over 1 year	-99.06%	-40.02%	-59.04%
Max Drawdown (3Y) Largest decline over 3 years	-99.15%	-40.02%	-59.13%
Current Drawdown Current decline from peak	-98.98%	-47.43%	-51.55%
Average Drawdown Average peak-to-trough decline	-22.88%	-46.02%	+23.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	50.33%	25.53%	+24.80%

Volatility

JRCD.L vs. CNEG.L - Volatility Comparison

JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRCD.L) has a higher volatility of 664.46% compared to Amundi MSCI China ESG Leaders Select UCITS ETF DR (C) (CNEG.L) at 8.01%. This indicates that JRCD.L's price experiences larger fluctuations and is considered to be riskier than CNEG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JRCD.L	CNEG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	664.46%	8.01%	+656.45%
Volatility (6M) Calculated over the trailing 6-month period	1,384.73%	15.45%	+1,369.28%
Volatility (1Y) Calculated over the trailing 1-year period	25,984.06%	45.75%	+25,938.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12,559.00%	38.30%	+12,520.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12,559.00%	38.30%	+12,520.70%

JRCD.L vs. CNEG.L - Expense Ratio Comparison

JRCD.L has a 0.40% expense ratio, which is higher than CNEG.L's 0.35% expense ratio.

Dividends

JRCD.L vs. CNEG.L - Dividend Comparison

JRCD.L's dividend yield for the trailing twelve months is around 176.69%, while CNEG.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
CNEG.L Amundi MSCI China ESG Leaders Select UCITS ETF DR (C)	0.00%	0.00%	0.00%	0.00%	0.00%
JRCD.L JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	176.69%	203.95%	1.97%	1.67%	1.88%

Frequently Asked Questions

Can I hold both JRCD.L and CNEG.L in my portfolio?

JRCD.L and CNEG.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JRCD.L or CNEG.L?

On fees, CNEG.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JRCD.L or CNEG.L?

CNEG.L is cheaper with a 0.35% expense ratio, compared with 0.40% for JRCD.L.

What is the main difference between JRCD.L and CNEG.L?

JRCD.L tracks MSCI China A Onshore NR CNY, while CNEG.L tracks MSCI China NR USD. They also come from different issuers: JPMorgan and Amundi. Their fees differ too: 0.40% for JRCD.L and 0.35% for CNEG.L.