MVA.AX vs. CNEW.AX

Last updated Jul 16, 2026

MVA.AX (VanEck Australian Property ETF) and CNEW.AX (VanEck China New Economy ETF) are both exchange-traded funds - MVA.AX is a REIT fund tracking the VanEck Australian Property Index, while CNEW.AX is a China Equities fund tracking the MarketGrader China New Economy Index. Both are passively managed. Over the past 5 years, MVA.AX returned 2.60%/yr vs -1.69%/yr for CNEW.AX. At a 0.04 correlation, their price movements are largely independent.

Performance

MVA.AX vs. CNEW.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in VanEck Australian Property ETF (MVA.AX) and VanEck China New Economy ETF (CNEW.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVA.AX achieves a -10.89% return, which is significantly lower than CNEW.AX's 1.87% return.

MVA.AX

• 1D: 0.79%
• 1M: -2.70%
• 6M: -7.81%
• YTD: -10.89%
• 1Y: -3.80%
• 3Y*: 5.89%
• 5Y*: 2.60%
• 10Y*: 3.94%

CNEW.AX

• 1D: -1.71%
• 1M: 2.64%
• 6M: -3.46%
• YTD: 1.87%
• 1Y: 13.85%
• 3Y*: 6.54%
• 5Y*: -1.69%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MVA.AX vs. CNEW.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MVA.AX VanEck Australian Property ETF	-10.89%	19.20%	11.61%	1.64%	-18.72%	22.15%	-5.13%	22.14%	2.38%
CNEW.AX VanEck China New Economy ETF	1.87%	15.14%	11.63%	-7.15%	-26.85%	14.22%	26.35%	40.10%	1.63%

Correlation

The correlation between MVA.AX and CNEW.AX is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (All Time) Calculated using the full available price history since Nov 8, 2018	0.04

The correlation between MVA.AX and CNEW.AX shifts across timeframes, from -0.01 (3 years) to 0.10 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MVA.AX vs. CNEW.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MVA.AX

MVA.AX Risk / Return Rank: 8
MVA.AX Sharpe Ratio Rank: 8
MVA.AX Sortino Ratio Rank: 8
MVA.AX Omega Ratio Rank: 7
MVA.AX Calmar Ratio Rank: 8
MVA.AX Martin Ratio Rank: 8

CNEW.AX

CNEW.AX Risk / Return Rank: 21
CNEW.AX Sharpe Ratio Rank: 21
CNEW.AX Sortino Ratio Rank: 21
CNEW.AX Omega Ratio Rank: 21
CNEW.AX Calmar Ratio Rank: 22
CNEW.AX Martin Ratio Rank: 21

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MVA.AX vs. CNEW.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Australian Property ETF (MVA.AX) and VanEck China New Economy ETF (CNEW.AX). 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.

	MVA.AX	CNEW.AX	Difference
Sharpe ratio: Return per unit of total volatility	-0.15	0.61	-0.76
Sortino ratio: Return per unit of downside risk	-0.07	1.00	-1.07
Omega ratio: Gain probability vs. loss probability	0.99	1.13	-0.13
Calmar ratio: Return relative to maximum drawdown	-0.14	0.87	-1.01
Martin ratio: Return relative to average drawdown	-0.28	2.09	-2.37

MVA.AX vs. CNEW.AX - Sharpe Ratio Comparison

The current MVA.AX Sharpe Ratio is -0.15, which is lower than the CNEW.AX Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of MVA.AX and CNEW.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MVA.AX vs. CNEW.AX - Drawdown Comparison

The maximum MVA.AX drawdown since its inception was -49.63%, which is greater than CNEW.AX's maximum drawdown of -46.20%. Use the drawdown chart below to compare losses from any high point for MVA.AX and CNEW.AX.

Drawdown Indicators

	MVA.AX	CNEW.AX	Difference
Max Drawdown Largest peak-to-trough decline	-49.63%	-46.20%	-3.43%
Max Drawdown (1Y) Largest decline over 1 year	-21.69%	-13.25%	-8.44%
Max Drawdown (3Y) Largest decline over 3 years	-21.69%	-27.71%	+6.02%
Max Drawdown (5Y) Largest decline over 5 years	-30.11%	-46.20%	+16.09%
Max Drawdown (10Y) Largest decline over 10 years	-49.63%	—	—
Current Drawdown Current decline from peak	-14.03%	-13.40%	-0.63%
Average Drawdown Average peak-to-trough decline	-9.29%	-17.27%	+7.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.47%	5.61%	+5.86%

Volatility

MVA.AX vs. CNEW.AX - Volatility Comparison

VanEck Australian Property ETF (MVA.AX) and VanEck China New Economy ETF (CNEW.AX) have volatilities of 5.53% and 5.62%, 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.

Volatility by Period

	MVA.AX	CNEW.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.53%	5.62%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	15.58%	15.27%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	20.39%	18.99%	+1.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.11%	24.49%	+0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.62%	24.61%	-0.99%

Dividends

MVA.AX vs. CNEW.AX - Dividend Comparison

MVA.AX's dividend yield for the trailing twelve months is around 3.45%, more than CNEW.AX's 0.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNEW.AX VanEck China New Economy ETF	0.74%	0.88%	1.71%	1.72%	1.86%	1.03%	1.40%	1.01%	0.00%	0.00%	0.00%	0.00%
MVA.AX VanEck Australian Property ETF	3.45%	1.58%	2.42%	2.63%	2.61%	3.67%	4.35%	3.98%	2.00%	5.18%	4.56%	2.10%

Frequently Asked Questions

Can I hold both MVA.AX and CNEW.AX in my portfolio?

MVA.AX and CNEW.AX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between MVA.AX and CNEW.AX?

MVA.AX is categorized as REIT, while CNEW.AX is China Equities. MVA.AX tracks VanEck Australian Property Index, while CNEW.AX tracks MarketGrader China New Economy Index.