JREC.L vs. XCHA.L
JREC.L (JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc)) and XCHA.L (Xtrackers CSI 300 Swap UCITS ETF 1C) are both China Equities funds. JREC.L is actively managed, while XCHA.L is passively managed. Over the past 3 years, JREC.L returned 11.15%/yr vs 14.18%/yr for XCHA.L. Their correlation of 0.92 suggests significant overlap in exposure.
Performance
JREC.L vs. XCHA.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with JREC.L having a 9.52% return and XCHA.L slightly higher at 9.79%.
JREC.L
- 1D
- -0.77%
- 1M
- -1.91%
- 6M
- 6.51%
- YTD
- 9.52%
- 1Y
- 32.83%
- 3Y*
- 11.15%
- 5Y*
- —
- 10Y*
- —
XCHA.L
- 1D
- -0.23%
- 1M
- -1.60%
- 6M
- 7.00%
- YTD
- 9.79%
- 1Y
- 33.96%
- 3Y*
- 14.18%
- 5Y*
- 2.69%
- 10Y*
- 8.65%
JREC.L vs. XCHA.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% |
XCHA.L Xtrackers CSI 300 Swap UCITS ETF 1C | 9.79% | 30.11% | 16.00% | -11.00% | -18.10% |
Correlation
The correlation between JREC.L and XCHA.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 | 0.96 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022 | 0.92 |
The correlation between JREC.L and XCHA.L has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.
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Return for Risk
JREC.L vs. XCHA.L — Risk / Return Rank
JREC.L
XCHA.L
JREC.L vs. XCHA.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 Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.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 | XCHA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.32 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.53 | 4.82 | -0.29 |
| Martin ratioReturn relative to average drawdown | 12.00 | 13.29 | -1.29 |
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Drawdowns
JREC.L vs. XCHA.L - Drawdown Comparison
The maximum JREC.L drawdown since its inception was -37.92%, smaller than the maximum XCHA.L drawdown of -50.90%. Use the drawdown chart below to compare losses from any high point for JREC.L and XCHA.L.
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Drawdown Indicators
| JREC.L | XCHA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.92% | -50.90% | +12.98% |
Max Drawdown (1Y)Largest decline over 1 year | -7.22% | -7.02% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -27.06% | -26.85% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | — | -39.75% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.89% | — |
Current DrawdownCurrent decline from peak | -5.30% | -4.94% | -0.36% |
Average DrawdownAverage peak-to-trough decline | -18.94% | -24.00% | +5.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 2.55% | +0.18% |
Volatility
JREC.L vs. XCHA.L - Volatility Comparison
JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREC.L) and Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.L) have volatilities of 8.90% and 8.65%, 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
| JREC.L | XCHA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.90% | 8.65% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 14.69% | 14.40% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.76% | 18.83% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.02% | 22.62% | +0.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.02% | 22.77% | +0.25% |
Dividends
JREC.L vs. XCHA.L - Dividend Comparison
Neither JREC.L nor XCHA.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, JREC.L and XCHA.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 Xtrackers.
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