MCHN.DE vs. L4K3.DE
MCHN.DE (Invesco MSCI China All Shares Stock Connect UCITS ETF Acc) and L4K3.DE (Amundi MSCI China UCITS ETF Acc) are both China Equities funds - MCHN.DE tracks the MSCI China All Shares Stock Connect Select while L4K3.DE tracks the MSCI China. Both are passively managed. Over the past 5 years, MCHN.DE returned -2.68%/yr vs -3.69%/yr for L4K3.DE. With a 0.96 correlation, they move nearly in lockstep. MCHN.DE charges 0.35%/yr vs 0.29%/yr for L4K3.DE.
Performance
MCHN.DE vs. L4K3.DE - Performance Comparison
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Returns By Period
In the year-to-date period, MCHN.DE achieves a -0.80% return, which is significantly higher than L4K3.DE's -7.17% return.
MCHN.DE
- 1D
- 0.00%
- 1M
- 0.75%
- 6M
- -6.17%
- YTD
- -0.80%
- 1Y
- 11.13%
- 3Y*
- 8.62%
- 5Y*
- -2.68%
- 10Y*
- —
L4K3.DE
- 1D
- -0.27%
- 1M
- 2.07%
- 6M
- -12.60%
- YTD
- -7.17%
- 1Y
- 1.50%
- 3Y*
- 8.37%
- 5Y*
- -3.69%
- 10Y*
- —
MCHN.DE vs. L4K3.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MCHN.DE Invesco MSCI China All Shares Stock Connect UCITS ETF Acc | -0.80% | 13.01% | 25.16% | -15.29% | -18.40% | -10.70% |
L4K3.DE Amundi MSCI China UCITS ETF Acc | -7.17% | 17.16% | 27.31% | -14.42% | -14.92% | -22.08% |
Correlation
The correlation between MCHN.DE and L4K3.DE is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2021 | 0.96 |
The correlation between MCHN.DE and L4K3.DE has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
MCHN.DE vs. L4K3.DE — Risk / Return Rank
MCHN.DE
L4K3.DE
MCHN.DE vs. L4K3.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI China All Shares Stock Connect UCITS ETF Acc (MCHN.DE) and Amundi MSCI China UCITS ETF Acc (L4K3.DE). 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.
| MCHN.DE | L4K3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.03 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 0.07 | +0.93 |
| Martin ratioReturn relative to average drawdown | 2.03 | 0.15 | +1.88 |
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Drawdowns
MCHN.DE vs. L4K3.DE - Drawdown Comparison
The maximum MCHN.DE drawdown since its inception was -45.79%, smaller than the maximum L4K3.DE drawdown of -55.67%. Use the drawdown chart below to compare losses from any high point for MCHN.DE and L4K3.DE.
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Drawdown Indicators
| MCHN.DE | L4K3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.79% | -55.67% | +9.88% |
Max Drawdown (1Y)Largest decline over 1 year | -11.21% | -20.86% | +9.65% |
Max Drawdown (3Y)Largest decline over 3 years | -23.24% | -24.73% | +1.49% |
Max Drawdown (5Y)Largest decline over 5 years | -43.29% | -46.23% | +2.94% |
Current DrawdownCurrent decline from peak | -16.68% | -31.67% | +14.99% |
Average DrawdownAverage peak-to-trough decline | -23.92% | -27.76% | +3.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.51% | 10.12% | -4.61% |
Volatility
MCHN.DE vs. L4K3.DE - Volatility Comparison
The current volatility for Invesco MSCI China All Shares Stock Connect UCITS ETF Acc (MCHN.DE) is 5.18%, while Amundi MSCI China UCITS ETF Acc (L4K3.DE) has a volatility of 5.65%. This indicates that MCHN.DE experiences smaller price fluctuations and is considered to be less risky than L4K3.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCHN.DE | L4K3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.18% | 5.65% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 12.38% | 13.52% | -1.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.51% | 19.27% | -1.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.04% | 27.85% | -2.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.64% | 26.92% | -2.28% |
MCHN.DE vs. L4K3.DE - Expense Ratio Comparison
MCHN.DE has a 0.35% expense ratio, which is higher than L4K3.DE's 0.29% expense ratio.
Dividends
MCHN.DE vs. L4K3.DE - Dividend Comparison
Neither MCHN.DE nor L4K3.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, MCHN.DE and L4K3.DE 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.
On fees, L4K3.DE is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
L4K3.DE is cheaper with a 0.29% expense ratio, compared with 0.35% for MCHN.DE.
MCHN.DE tracks MSCI China All Shares Stock Connect Select, while L4K3.DE tracks MSCI China. They also come from different issuers: Invesco and Amundi. Their fees differ too: 0.35% for MCHN.DE and 0.29% for L4K3.DE.
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