JREC.L vs. FXC.L
JREC.L (JPM China A Research Enhanced Index Equity Active UCITS ETF USD (Acc)) and FXC.L (iShares China Large Cap UCITS) are both China Equities funds. JREC.L is actively managed, while FXC.L is passively managed. Over the past 3 years, JREC.L returned 9.63%/yr vs 9.98%/yr for FXC.L. A 0.64 correlation means they provide meaningful diversification when combined. JREC.L charges 0.40%/yr vs 0.74%/yr for FXC.L.
Performance
JREC.L vs. FXC.L - Performance Comparison
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Different Trading Currencies
JREC.L is traded in USD, while FXC.L is traded in GBp. To make them comparable, the FXC.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 3.55% return, which is significantly higher than FXC.L's -10.61% return.
JREC.L
- 1D
- -3.42%
- 1M
- -7.89%
- 6M
- 0.63%
- YTD
- 3.55%
- 1Y
- 25.34%
- 3Y*
- 9.63%
- 5Y*
- —
- 10Y*
- —
FXC.L
- 1D
- -1.77%
- 1M
- 0.03%
- 6M
- -12.41%
- YTD
- -10.61%
- 1Y
- -7.38%
- 3Y*
- 9.98%
- 5Y*
- -2.87%
- 10Y*
- 1.62%
JREC.L vs. FXC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JREC.L JPM China A Research Enhanced Index Equity Active UCITS ETF USD (Acc) | 3.55% | 28.38% | 9.65% | -13.02% | -19.50% |
FXC.L iShares China Large Cap UCITS | -10.61% | 28.79% | 30.43% | -14.00% | -21.43% |
Correlation
The correlation between JREC.L and FXC.L is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022 | 0.64 |
The correlation between JREC.L and FXC.L shifts across timeframes, from 0.56 (1 year) to 0.66 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
JREC.L vs. FXC.L — Risk / Return Rank
JREC.L
FXC.L
JREC.L vs. FXC.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 iShares China Large Cap UCITS (FXC.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 | FXC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.69 | ||
| Sortino ratioReturn per unit of downside risk | +2.31 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.95 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | -0.32 | +2.73 |
| Martin ratioReturn relative to average drawdown | 8.89 | -0.74 | +9.63 |
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Drawdowns
JREC.L vs. FXC.L - Drawdown Comparison
The maximum JREC.L drawdown since its inception was -37.92%, smaller than the maximum FXC.L drawdown of -78.77%. Use the drawdown chart below to compare losses from any high point for JREC.L and FXC.L.
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Drawdown Indicators
| JREC.L | FXC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.92% | -78.77% | +40.85% |
Max Drawdown (1Y)Largest decline over 1 year | -10.46% | -23.24% | +12.78% |
Max Drawdown (3Y)Largest decline over 3 years | -27.06% | -28.63% | +1.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -51.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.59% | — |
Current DrawdownCurrent decline from peak | -10.46% | -29.34% | +18.88% |
Average DrawdownAverage peak-to-trough decline | -18.92% | -21.73% | +2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 9.96% | -7.12% |
Volatility
JREC.L vs. FXC.L - Volatility Comparison
JPM China A Research Enhanced Index Equity Active UCITS ETF USD (Acc) (JREC.L) has a higher volatility of 9.60% compared to iShares China Large Cap UCITS (FXC.L) at 6.49%. This indicates that JREC.L's price experiences larger fluctuations and is considered to be riskier than FXC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JREC.L | FXC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.60% | 6.49% | +3.11% |
Volatility (6M)Calculated over the trailing 6-month period | 15.19% | 14.33% | +0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.20% | 19.44% | -0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.08% | 29.96% | -6.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.08% | 26.04% | -2.96% |
JREC.L vs. FXC.L - Expense Ratio Comparison
JREC.L has a 0.40% expense ratio, which is lower than FXC.L's 0.74% expense ratio.
Dividends
JREC.L vs. FXC.L - Dividend Comparison
JREC.L has not paid dividends to shareholders, while FXC.L's dividend yield for the trailing twelve months is around 1.85%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXC.L iShares China Large Cap UCITS | 1.85% | 1.76% | 2.30% | 2.49% | 2.46% | 1.83% | 2.52% | 2.59% | 0.00% | 0.00% | 2.32% | 2.61% |
JREC.L JPM China A Research Enhanced Index Equity Active 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% | 0.00% |
Frequently Asked Questions
JREC.L and FXC.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JREC.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JREC.L is cheaper with a 0.40% expense ratio, compared with 0.74% for FXC.L.
They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.40% for JREC.L and 0.74% for FXC.L.
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