WHC.AX vs. ECNS

Last updated Jun 5, 2026

WHC.AX (Whitehaven Coal Limited) is a stock, while ECNS (iShares MSCI China Small-Cap ETF) is Asia Pacific Equities fund tracking the MSCI China Small Cap Index. Over the past 10 years, WHC.AX returned 32.19%/yr vs 1.93%/yr for ECNS. At a 0.02 correlation, their price movements are largely independent.

Performance

WHC.AX vs. ECNS - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Whitehaven Coal Limited (WHC.AX) and iShares MSCI China Small-Cap ETF (ECNS). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

WHC.AX is traded in AUD, while ECNS is traded in USD. To make them comparable, the ECNS values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, WHC.AX achieves a 23.60% return, which is significantly higher than ECNS's -12.57% return. Over the past 10 years, WHC.AX has outperformed ECNS with an annualized return of 32.19%, while ECNS has yielded a comparatively lower 1.93% annualized return.

WHC.AX

• 1D: 3.03%
• 1M: 13.72%
• YTD: 23.60%
• 6M: 22.49%
• 1Y: 72.92%
• 3Y*: 22.04%
• 5Y*: 47.16%
• 10Y*: 32.19%

ECNS

• 1D: -2.13%
• 1M: -7.96%
• YTD: -12.57%
• 6M: -15.99%
• 1Y: -0.84%
• 3Y*: 4.26%
• 5Y*: -5.84%
• 10Y*: 1.93%

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

WHC.AX vs. ECNS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WHC.AX Whitehaven Coal Limited	23.60%	28.15%	-14.11%	-12.00%	289.82%	58.66%	-37.23%	-30.18%	5.34%	73.47%
ECNS iShares MSCI China Small-Cap ETF	-12.57%	26.58%	16.27%	-22.99%	-19.60%	8.09%	14.40%	8.34%	-9.50%	17.84%

Correlation

The correlation between WHC.AX and ECNS is -0.06, 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	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.03
Correlation (10Y) Calculated over the trailing 10-year period	0.03
Correlation (All Time) Calculated using the full available price history since Sep 30, 2010	0.02

Return for Risk

WHC.AX vs. ECNS — Risk / Return Rank

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

WHC.AX

WHC.AX Risk / Return Rank: 85
WHC.AX Sharpe Ratio Rank: 88
WHC.AX Sortino Ratio Rank: 85
WHC.AX Omega Ratio Rank: 82
WHC.AX Calmar Ratio Rank: 85
WHC.AX Martin Ratio Rank: 84

ECNS

ECNS Risk / Return Rank: 14
ECNS Sharpe Ratio Rank: 15
ECNS Sortino Ratio Rank: 14
ECNS Omega Ratio Rank: 15
ECNS Calmar Ratio Rank: 13
ECNS Martin Ratio Rank: 13

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.

WHC.AX vs. ECNS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Whitehaven Coal Limited (WHC.AX) and iShares MSCI China Small-Cap ETF (ECNS). 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.

	WHC.AX	ECNS	Difference
Sharpe ratio: Return per unit of total volatility	1.99	-0.05	+2.04
Sortino ratio: Return per unit of downside risk	2.67	0.06	+2.61
Omega ratio: Gain probability vs. loss probability	1.32	1.01	+0.31
Calmar ratio: Return relative to maximum drawdown	3.38	-0.03	+3.42
Martin ratio: Return relative to average drawdown	8.32	-0.07	+8.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WHC.AX vs. ECNS - Sharpe Ratio Comparison

The current WHC.AX Sharpe Ratio is 1.99, which is higher than the ECNS Sharpe Ratio of -0.05. The chart below compares the historical Sharpe Ratios of WHC.AX and ECNS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	WHC.AX	ECNS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	-0.05	+2.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.06	-0.22	+1.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.08	+0.60
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.10	+0.16

Drawdowns

WHC.AX vs. ECNS - Drawdown Comparison

The maximum WHC.AX drawdown since its inception was -94.30%, which is greater than ECNS's maximum drawdown of -56.38%. Use the drawdown chart below to compare losses from any high point for WHC.AX and ECNS.

Drawdown Indicators

	WHC.AX	ECNS	Difference
Max Drawdown Largest peak-to-trough decline	-94.30%	-56.38%	-37.92%
Max Drawdown (1Y) Largest decline over 1 year	-22.26%	-25.89%	+3.63%
Max Drawdown (3Y) Largest decline over 3 years	-49.84%	-29.74%	-20.10%
Max Drawdown (5Y) Largest decline over 5 years	-53.70%	-52.95%	-0.75%
Max Drawdown (10Y) Largest decline over 10 years	-82.91%	-56.38%	-26.53%
Current Drawdown Current decline from peak	-3.15%	-34.64%	+31.49%
Average Drawdown Average peak-to-trough decline	-40.94%	-24.71%	-16.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.08%	12.32%	-3.24%

Volatility

WHC.AX vs. ECNS - Volatility Comparison

Whitehaven Coal Limited (WHC.AX) has a higher volatility of 12.68% compared to iShares MSCI China Small-Cap ETF (ECNS) at 4.93%. This indicates that WHC.AX's price experiences larger fluctuations and is considered to be riskier than ECNS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WHC.AX	ECNS	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.68%	4.93%	+7.75%
Volatility (6M) Calculated over the trailing 6-month period	30.29%	11.04%	+19.25%
Volatility (1Y) Calculated over the trailing 1-year period	37.82%	18.41%	+19.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.26%	26.50%	+17.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.75%	23.56%	+23.19%

Dividends

WHC.AX vs. ECNS - Dividend Comparison

WHC.AX's dividend yield for the trailing twelve months is around 1.05%, less than ECNS's 6.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ECNS iShares MSCI China Small-Cap ETF	6.71%	6.20%	5.98%	4.89%	3.54%	4.87%	3.59%	3.23%	6.16%	3.18%	4.29%	3.58%
WHC.AX Whitehaven Coal Limited	1.05%	1.94%	3.23%	9.95%	5.10%	0.00%	0.91%	18.94%	9.26%	1.35%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WHC.AX and ECNS in my portfolio?

WHC.AX and ECNS have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.