JRCE.L vs. IASH.L
JRCE.L (JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (acc)) and IASH.L (iShares MSCI China A UCITS USD) are both China Equities funds tracking the MSCI China A Onshore NR CNY, from JPMorgan and iShares respectively. Both are passively managed. Over the past 3 years, JRCE.L returned 9.09%/yr vs 8.41%/yr for IASH.L. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.40% expense ratio.
Performance
JRCE.L vs. IASH.L - Performance Comparison
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Returns By Period
In the year-to-date period, JRCE.L achieves a 11.09% return, which is significantly higher than IASH.L's 9.51% return.
JRCE.L
- 1D
- 1.97%
- 1M
- 3.41%
- YTD
- 11.09%
- 6M
- 14.62%
- 1Y
- 42.57%
- 3Y*
- 9.09%
- 5Y*
- —
- 10Y*
- —
IASH.L
- 1D
- -0.06%
- 1M
- 3.10%
- YTD
- 9.51%
- 6M
- 12.93%
- 1Y
- 38.65%
- 3Y*
- 8.41%
- 5Y*
- 0.05%
- 10Y*
- 7.12%
JRCE.L vs. IASH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JRCE.L JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) | 11.09% | 19.75% | 11.38% | -17.74% | -9.39% |
IASH.L iShares MSCI China A UCITS USD | 9.51% | 17.67% | 12.92% | -18.83% | -10.62% |
Correlation
The correlation between JRCE.L and IASH.L is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2022 | 0.96 |
The correlation between JRCE.L and IASH.L has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
JRCE.L vs. IASH.L — Risk / Return Rank
JRCE.L
IASH.L
JRCE.L vs. IASH.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 (acc) (JRCE.L) and iShares MSCI China A UCITS USD (IASH.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.
| JRCE.L | IASH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.44 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 6.91 | 5.73 | +1.19 |
| Martin ratioReturn relative to average drawdown | 20.35 | 15.80 | +4.55 |
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
| JRCE.L | IASH.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.92 | 2.47 | +0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.00 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.33 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.09 | +0.02 |
Drawdowns
JRCE.L vs. IASH.L - Drawdown Comparison
The maximum JRCE.L drawdown since its inception was -36.68%, smaller than the maximum IASH.L drawdown of -48.39%. Use the drawdown chart below to compare losses from any high point for JRCE.L and IASH.L.
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Drawdown Indicators
| JRCE.L | IASH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.68% | -48.39% | +11.71% |
Max Drawdown (1Y)Largest decline over 1 year | -6.40% | -6.72% | +0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -25.42% | -25.77% | +0.35% |
Max Drawdown (5Y)Largest decline over 5 years | — | -42.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.67% | — |
Current DrawdownCurrent decline from peak | -1.88% | -10.06% | +8.18% |
Average DrawdownAverage peak-to-trough decline | -17.61% | -24.72% | +7.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 2.44% | -0.26% |
Volatility
JRCE.L vs. IASH.L - Volatility Comparison
JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (acc) (JRCE.L) and iShares MSCI China A UCITS USD (IASH.L) have volatilities of 5.54% and 5.69%, 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.
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Volatility by Period
| JRCE.L | IASH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.54% | 5.69% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 10.21% | 10.68% | -0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.17% | 15.61% | -0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.52% | 21.27% | +0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.52% | 22.79% | -1.27% |
JRCE.L vs. IASH.L - Expense Ratio Comparison
Both JRCE.L and IASH.L have an expense ratio of 0.40%.
Dividends
JRCE.L vs. IASH.L - Dividend Comparison
Neither JRCE.L nor IASH.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, JRCE.L and IASH.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.
Both ETFs have the same 0.40% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
JRCE.L and IASH.L have the same expense ratio: 0.40% per year.
Both ETFs track MSCI China A Onshore NR CNY. They also come from different issuers: JPMorgan and iShares.
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