MCHN.L vs. JREC.L
MCHN.L (Invesco MSCI China All Shares Connect UCITS ETF) and JREC.L (JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc)) are both China Equities funds. MCHN.L is passively managed, while JREC.L is actively managed. Over the past 3 years, MCHN.L returned 8.96%/yr vs 11.15%/yr for JREC.L. A 0.80 correlation means they provide meaningful diversification when combined.
Performance
MCHN.L vs. JREC.L - Performance Comparison
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Returns By Period
In the year-to-date period, MCHN.L achieves a -4.19% return, which is significantly lower than JREC.L's 9.52% return.
MCHN.L
- 1D
- -1.16%
- 1M
- -2.71%
- 6M
- -8.31%
- YTD
- -4.19%
- 1Y
- 7.58%
- 3Y*
- 8.96%
- 5Y*
- -3.50%
- 10Y*
- —
JREC.L
- 1D
- -0.77%
- 1M
- -1.91%
- 6M
- 6.51%
- YTD
- 9.52%
- 1Y
- 32.83%
- 3Y*
- 11.15%
- 5Y*
- —
- 10Y*
- —
MCHN.L vs. JREC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MCHN.L Invesco MSCI China All Shares Connect UCITS ETF | -4.19% | 28.12% | 16.91% | -12.79% | -20.55% |
JREC.L JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) | 9.52% | 28.38% | 9.65% | -13.02% | -19.50% |
Correlation
The correlation between MCHN.L and JREC.L is 0.82, 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 | 0.82 |
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 | 0.80 |
The correlation between MCHN.L and JREC.L has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.
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Return for Risk
MCHN.L vs. JREC.L — Risk / Return Rank
MCHN.L
JREC.L
MCHN.L vs. JREC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI China All Shares Connect UCITS ETF (MCHN.L) and JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREC.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.
| MCHN.L | JREC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.35 | ||
| Sortino ratioReturn per unit of downside risk | -1.79 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.31 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.59 | 4.53 | -3.93 |
| Martin ratioReturn relative to average drawdown | 1.19 | 12.00 | -10.82 |
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Drawdowns
MCHN.L vs. JREC.L - Drawdown Comparison
The maximum MCHN.L drawdown since its inception was -52.51%, which is greater than JREC.L's maximum drawdown of -37.92%. Use the drawdown chart below to compare losses from any high point for MCHN.L and JREC.L.
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Drawdown Indicators
| MCHN.L | JREC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.51% | -37.92% | -14.59% |
Max Drawdown (1Y)Largest decline over 1 year | -12.42% | -7.22% | -5.20% |
Max Drawdown (3Y)Largest decline over 3 years | -24.72% | -27.06% | +2.34% |
Max Drawdown (5Y)Largest decline over 5 years | -47.92% | — | — |
Current DrawdownCurrent decline from peak | -23.67% | -5.30% | -18.37% |
Average DrawdownAverage peak-to-trough decline | -31.33% | -18.94% | -12.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.20% | 2.73% | +3.47% |
Volatility
MCHN.L vs. JREC.L - Volatility Comparison
The current volatility for Invesco MSCI China All Shares Connect UCITS ETF (MCHN.L) is 6.18%, while JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREC.L) has a volatility of 8.90%. This indicates that MCHN.L experiences smaller price fluctuations and is considered to be less risky than JREC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCHN.L | JREC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.18% | 8.90% | -2.72% |
Volatility (6M)Calculated over the trailing 6-month period | 14.08% | 14.69% | -0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.87% | 18.76% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.09% | 23.02% | +3.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.71% | 23.02% | +2.69% |
Dividends
MCHN.L vs. JREC.L - Dividend Comparison
Neither MCHN.L nor JREC.L has paid dividends to shareholders.
Frequently Asked Questions
MCHN.L and JREC.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
They also come from different issuers: Invesco and ETF Issuer.
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