JREC.L vs. CNUA.L
JREC.L (JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc)) and CNUA.L (UBS ETF (IE) MSCI China A SF UCITS ETF (USD) A-acc) are both China Equities funds. JREC.L is actively managed, while CNUA.L is passively managed. Over the past 3 years, JREC.L returned 11.15%/yr vs 15.09%/yr for CNUA.L. A 0.78 correlation means they provide meaningful diversification when combined.
Performance
JREC.L vs. CNUA.L - Performance Comparison
Loading charts...
Different Trading Currencies
JREC.L is traded in USD, while CNUA.L is traded in GBp. To make them comparable, the CNUA.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, JREC.L achieves a 9.52% return, which is significantly lower than CNUA.L's 10.63% return.
JREC.L
- 1D
- -0.77%
- 1M
- -1.91%
- 6M
- 6.51%
- YTD
- 9.52%
- 1Y
- 32.83%
- 3Y*
- 11.15%
- 5Y*
- —
- 10Y*
- —
CNUA.L
- 1D
- 0.38%
- 1M
- -1.59%
- 6M
- 6.99%
- YTD
- 10.63%
- 1Y
- 35.75%
- 3Y*
- 15.09%
- 5Y*
- 3.18%
- 10Y*
- —
JREC.L vs. CNUA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JREC.L JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) | 9.52% | 28.38% | 9.65% | -13.02% | -19.50% |
CNUA.L UBS ETF (IE) MSCI China A SF UCITS ETF (USD) A-acc | 10.63% | 32.26% | 14.61% | -11.91% | -16.22% |
Correlation
The correlation between JREC.L and CNUA.L is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022 | 0.78 |
The correlation between JREC.L and CNUA.L shifts across timeframes, from 0.78 (all time) to 0.94 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
JREC.L vs. CNUA.L — Risk / Return Rank
JREC.L
CNUA.L
JREC.L vs. CNUA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREC.L) and UBS ETF (IE) MSCI China A SF UCITS ETF (USD) A-acc (CNUA.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.
| JREC.L | CNUA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.34 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.53 | 4.84 | -0.32 |
| Martin ratioReturn relative to average drawdown | 12.00 | 13.22 | -1.22 |
Loading charts...
Drawdowns
JREC.L vs. CNUA.L - Drawdown Comparison
The maximum JREC.L drawdown since its inception was -37.92%, smaller than the maximum CNUA.L drawdown of -43.75%. Use the drawdown chart below to compare losses from any high point for JREC.L and CNUA.L.
Loading charts...
Drawdown Indicators
| JREC.L | CNUA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.92% | -43.75% | +5.83% |
Max Drawdown (1Y)Largest decline over 1 year | -7.22% | -7.35% | +0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -27.06% | -29.24% | +2.18% |
Max Drawdown (5Y)Largest decline over 5 years | — | -41.06% | — |
Current DrawdownCurrent decline from peak | -5.30% | -4.73% | -0.57% |
Average DrawdownAverage peak-to-trough decline | -18.94% | -20.20% | +1.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 2.70% | +0.03% |
Volatility
JREC.L vs. CNUA.L - Volatility Comparison
JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREC.L) has a higher volatility of 8.90% compared to UBS ETF (IE) MSCI China A SF UCITS ETF (USD) A-acc (CNUA.L) at 8.38%. This indicates that JREC.L's price experiences larger fluctuations and is considered to be riskier than CNUA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| JREC.L | CNUA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.90% | 8.38% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 14.69% | 14.03% | +0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.76% | 18.31% | +0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.02% | 26.52% | -3.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.02% | 28.60% | -5.58% |
Dividends
JREC.L vs. CNUA.L - Dividend Comparison
Neither JREC.L nor CNUA.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, JREC.L and CNUA.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.
They also come from different issuers: ETF Issuer and UBS.
Find the right allocation for JREC.L and CNUA.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer