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XCH.TO vs. IASH.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XCH.TO vs. IASH.L

Last updated Jun 4, 2026

XCH.TO (iShares China Index ETF) and IASH.L (iShares MSCI China A UCITS USD) are both China Equities funds from iShares - XCH.TO tracks the Morningstar China GR CAD while IASH.L tracks the MSCI China A Onshore NR CNY. Both are passively managed. Over the past 10 years, XCH.TO returned 3.34%/yr vs 7.06%/yr for IASH.L. A 0.54 correlation means they provide meaningful diversification when combined. XCH.TO charges 0.87%/yr vs 0.40%/yr for IASH.L.

Performance

XCH.TO vs. IASH.L - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares China Index ETF (XCH.TO) and iShares MSCI China A UCITS USD (IASH.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XCH.TO is traded in CAD, while IASH.L is traded in GBp. To make them comparable, the IASH.L values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XCH.TO achieves a -6.01% return, which is significantly lower than IASH.L's 10.65% return. Over the past 10 years, XCH.TO has underperformed IASH.L with an annualized return of 3.34%, while IASH.L has yielded a comparatively higher 7.06% annualized return.

XCH.TO

1D
-1.76%
1M
-0.68%
YTD
-6.01%
6M
-8.84%
1Y
2.81%
3Y*
12.55%
5Y*
-0.79%
10Y*
3.34%

IASH.L

1D
0.08%
1M
4.34%
YTD
10.65%
6M
13.09%
1Y
39.50%
3Y*
12.47%
5Y*
1.83%
10Y*
7.06%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XCH.TO vs. IASH.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XCH.TO
iShares China Index ETF		-6.01%22.48%39.50%-14.76%-15.40%-20.56%7.17%8.11%-6.28%27.28%
IASH.L
iShares MSCI China A UCITS USD		10.65%20.75%20.58%-16.43%-20.85%2.60%39.47%29.07%-19.68%20.68%

Correlation

The correlation between XCH.TO and IASH.L is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.50

Correlation (3Y)
Calculated over the trailing 3-year period

0.59

Correlation (5Y)
Calculated over the trailing 5-year period

0.61

Correlation (10Y)
Calculated over the trailing 10-year period

0.56

Correlation (All Time)
Calculated using the full available price history since Apr 17, 2015

0.54

The correlation between XCH.TO and IASH.L shifts across timeframes, from 0.50 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.

XCH.TO vs. IASH.L - Sectors Allocation Comparison

Sectors
XCH.TO
IASH.L

Financial Services

34.5%
17.8%

Consumer Cyclical

25.8%
5.4%

Communication Services

12.2%
1.3%

Technology

9.2%
31.0%

Energy

5.2%
3.2%

Basic Materials

3.9%
11.4%

Industrials

3.9%
15.5%

Healthcare

2.2%
3.9%

Real Estate

1.1%
0.6%

Consumer Defensive

0.8%
6.7%

Utilities

0.4%
3.2%

Financial Services

XCH.TO
34.5%
IASH.L
17.8%

Consumer Cyclical

XCH.TO
25.8%
IASH.L
5.4%

Communication Services

XCH.TO
12.2%
IASH.L
1.3%

Technology

XCH.TO
9.2%
IASH.L
31.0%

Energy

XCH.TO
5.2%
IASH.L
3.2%

Basic Materials

XCH.TO
3.9%
IASH.L
11.4%

Industrials

XCH.TO
3.9%
IASH.L
15.5%

Healthcare

XCH.TO
2.2%
IASH.L
3.9%

Real Estate

XCH.TO
1.1%
IASH.L
0.6%

Consumer Defensive

XCH.TO
0.8%
IASH.L
6.7%

Utilities

XCH.TO
0.4%
IASH.L
3.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares China Index ETF

iShares MSCI China A UCITS USD

Often compared with XCH.TO:
XCH.TO vs. VEE.TOXCH.TO vs. XEC.TOXCH.TO vs. XAW.TOXCH.TO vs. VFV.TOXCH.TO vs. ZCH.TOXCH.TO vs. XIC.TOXCH.TO vs. FBRT
Often compared with IASH.L:
IASH.L vs. ICGA.DEIASH.L vs. CNYAIASH.L vs. CHIN.DEIASH.L vs. EMIM.LIASH.L vs. HSTC.LIASH.L vs. EUNL.DEIASH.L vs. IWDA.AS

Return for Risk

XCH.TO vs. IASH.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XCH.TO
XCH.TO Risk / Return Rank: 1010
Overall Rank
XCH.TO Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
XCH.TO Sortino Ratio Rank: 1010
Sortino Ratio Rank
XCH.TO Omega Ratio Rank: 1010
Omega Ratio Rank
XCH.TO Calmar Ratio Rank: 1111
Calmar Ratio Rank
XCH.TO Martin Ratio Rank: 1010
Martin Ratio Rank
IASH.L
IASH.L Risk / Return Rank: 7979
Overall Rank
IASH.L Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
IASH.L Sortino Ratio Rank: 7373
Sortino Ratio Rank
IASH.L Omega Ratio Rank: 7575
Omega Ratio Rank
IASH.L Calmar Ratio Rank: 9090
Calmar Ratio Rank
IASH.L Martin Ratio Rank: 8080
Martin Ratio Rank
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.

XCH.TO vs. IASH.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares China Index ETF (XCH.TO) and iShares MSCI China A UCITS USD (IASH.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.

XCH.TOIASH.LDifference
Sharpe ratioReturn per unit of total volatility
0.15
2.45

-2.30

Sortino ratioReturn per unit of downside risk
0.35
3.33

-2.98

Omega ratioGain probability vs. loss probability

1.04

1.44

-0.40

Calmar ratioReturn relative to maximum drawdown

0.17

5.11

-4.94

Martin ratioReturn relative to average drawdown

0.35

15.11

-14.77

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XCH.TO vs. IASH.L - Sharpe Ratio Comparison

The current XCH.TO Sharpe Ratio is 0.15, which is lower than the IASH.L Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of XCH.TO and IASH.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

XCH.TOIASH.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.15

2.45

-2.30

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.03

0.09

-0.11

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.13

0.34

-0.21

Sharpe Ratio (All Time)

Calculated using the full available price history

0.13

0.10

+0.03

Drawdowns

XCH.TO vs. IASH.L - Drawdown Comparison

The maximum XCH.TO drawdown since its inception was -58.02%, which is greater than IASH.L's maximum drawdown of -47.95%. Use the drawdown chart below to compare losses from any high point for XCH.TO and IASH.L.

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Drawdown Indicators

XCH.TOIASH.LDifference

Max Drawdown

Largest peak-to-trough decline

-58.02%

-47.95%

-10.07%

Max Drawdown (1Y)

Largest decline over 1 year

-16.51%

-7.69%

-8.82%

Max Drawdown (3Y)

Largest decline over 3 years

-27.28%

-24.52%

-2.76%

Max Drawdown (5Y)

Largest decline over 5 years

-50.32%

-41.56%

-8.76%

Max Drawdown (10Y)

Largest decline over 10 years

-58.02%

-46.29%

-11.73%

Current Drawdown

Current decline from peak

-21.53%

-4.66%

-16.87%

Average Drawdown

Average peak-to-trough decline

-20.41%

-28.16%

+7.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.15%

2.61%

+5.54%

Volatility

XCH.TO vs. IASH.L - Volatility Comparison

iShares China Index ETF (XCH.TO) has a higher volatility of 6.91% compared to iShares MSCI China A UCITS USD (IASH.L) at 6.38%. This indicates that XCH.TO's price experiences larger fluctuations and is considered to be riskier than IASH.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XCH.TOIASH.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.91%

6.38%

+0.53%

Volatility (6M)

Calculated over the trailing 6-month period

13.42%

11.13%

+2.29%

Volatility (1Y)

Calculated over the trailing 1-year period

19.20%

16.09%

+3.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.81%

21.45%

+8.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.73%

22.16%

+3.57%

XCH.TO vs. IASH.L - Expense Ratio Comparison

XCH.TO has a 0.87% expense ratio, which is higher than IASH.L's 0.40% expense ratio.

Dividends

XCH.TO vs. IASH.L - Dividend Comparison

XCH.TO's dividend yield for the trailing twelve months is around 2.25%, while IASH.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
IASH.L
iShares MSCI China A UCITS USD		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XCH.TO
iShares China Index ETF		2.25%2.11%1.54%2.86%2.35%1.50%2.17%2.50%2.45%2.41%2.21%2.58%

Frequently Asked Questions

XCH.TO and IASH.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IASH.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IASH.L is cheaper with a 0.40% expense ratio, compared with 0.87% for XCH.TO.

XCH.TO tracks Morningstar China GR CAD, while IASH.L tracks MSCI China A Onshore NR CNY. Their fees differ too: 0.87% for XCH.TO and 0.40% for IASH.L.

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