USSG vs. CN

Last updated Jun 4, 2026

USSG (Xtrackers MSCI USA ESG Leaders Equity ETF) and CN (Xtrackers MSCI All China Equity ETF) are both exchange-traded funds - USSG is a Large Cap Growth Equities fund tracking the MSCI USA ESG Leaders, while CN is a China Equities fund tracking the MSCI China All Shares. Both are passively managed. At a 0.40 correlation, their price movements are largely independent. USSG charges 0.10%/yr vs 0.50%/yr for CN.

Performance

USSG vs. CN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI USA ESG Leaders Equity ETF (USSG) and Xtrackers MSCI All China Equity ETF (CN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

USSG

• 1D: -0.80%
• 1M: 4.67%
• YTD: 9.51%
• 6M: 10.19%
• 1Y: 27.90%
• 3Y*: 22.38%
• 5Y*: 13.79%
• 10Y*: —

CN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USSG vs. CN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
USSG Xtrackers MSCI USA ESG Leaders Equity ETF	9.51%	18.97%	23.45%	29.17%	-20.33%	31.83%	18.71%	19.24%
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	-3.10%	-11.87%	-23.85%	-12.74%	31.55%	6.30%

Correlation

The correlation between USSG and CN is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019	0.40

The correlation between USSG and CN shifts across timeframes, from 0.19 (3 years) to 0.40 (all time), reflecting how their relationship changes across market environments.

USSG vs. CN - Sectors Allocation Comparison

Sectors	USSG	CN
Technology	36.9%	0.3%
Communication Services	14.5%	0.4%
Financial Services	10.6%	55.1%
Healthcare	9.6%	0.8%
Consumer Cyclical	8.6%	5.4%
Industrials	8.1%	1.0%
Consumer Defensive	4.2%	0.3%
Real Estate	2.2%	0.8%
Basic Materials	2.1%	0.6%
Energy	2.1%	0.9%
Utilities	1.1%	0.2%

Return for Risk

USSG vs. CN — Risk / Return Rank

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

USSG

USSG Risk / Return Rank: 60
USSG Sharpe Ratio Rank: 64
USSG Sortino Ratio Rank: 64
USSG Omega Ratio Rank: 61
USSG Calmar Ratio Rank: 50
USSG Martin Ratio Rank: 60

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.

USSG vs. CN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI USA ESG Leaders Equity ETF (USSG) and Xtrackers MSCI All China Equity ETF (CN). 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.

	USSG	CN	Difference
Sharpe ratio: Return per unit of total volatility	2.14	—	—
Sortino ratio: Return per unit of downside risk	3.00	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	2.50	—	—
Martin ratio: Return relative to average drawdown	10.72	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	USSG	CN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	—	—

Drawdowns

Drawdown Indicators

	USSG	CN	Difference
Max Drawdown Largest peak-to-trough decline	-34.10%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-11.20%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-20.00%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.00%	—	—
Current Drawdown Current decline from peak	-1.21%	—	—
Average Drawdown Average peak-to-trough decline	-5.60%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	—	—

Volatility

Volatility by Period

	USSG	CN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.77%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.04%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.12%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.59%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.16%	—	—

USSG vs. CN - Expense Ratio Comparison

USSG has a 0.10% expense ratio, which is lower than CN's 0.50% expense ratio.

Dividends

USSG vs. CN - Dividend Comparison

USSG's dividend yield for the trailing twelve months is around 0.95%, while CN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	0.00%	4.04%	1.80%	2.00%	0.78%	4.18%	2.09%	0.81%	11.41%	14.00%
USSG Xtrackers MSCI USA ESG Leaders Equity ETF	0.95%	1.02%	1.13%	1.60%	1.52%	1.13%	1.42%	1.21%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USSG and CN in my portfolio?

USSG and CN have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, USSG or CN?

On fees, USSG is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, USSG or CN?

USSG is cheaper with a 0.10% expense ratio, compared with 0.50% for CN.

Which ETF pays a higher dividend yield, USSG or CN?

USSG has the higher dividend yield at 0.95%, compared with 0.00% for CN.

What is the main difference between USSG and CN?

USSG is categorized as Large Cap Growth Equities, while CN is China Equities. USSG tracks MSCI USA ESG Leaders, while CN tracks MSCI China All Shares. Their fees differ too: 0.10% for USSG and 0.50% for CN.