XCHA.L vs. CM5S.L
XCHA.L (Xtrackers CSI 300 Swap UCITS ETF 1C) and CM5S.L (Invesco S&P China A MidCap 500 Swap UCITS ETF Acc) are both China Equities funds tracking the MSCI China A Onshore NR CNY, from Xtrackers and Invesco respectively. Both are passively managed. Over the past 3 years, XCHA.L returned 15.51%/yr vs 22.94%/yr for CM5S.L. Their correlation of 0.83 suggests significant overlap in exposure. XCHA.L charges 0.50%/yr vs 0.35%/yr for CM5S.L.
Performance
XCHA.L vs. CM5S.L - Performance Comparison
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Different Trading Currencies
XCHA.L is traded in USD, while CM5S.L is traded in GBp. To make them comparable, the CM5S.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XCHA.L achieves a 11.44% return, which is significantly lower than CM5S.L's 18.96% return.
XCHA.L
- 1D
- -0.57%
- 1M
- 2.27%
- YTD
- 11.44%
- 6M
- 15.20%
- 1Y
- 41.84%
- 3Y*
- 15.51%
- 5Y*
- 2.07%
- 10Y*
- 9.32%
CM5S.L
- 1D
- 0.04%
- 1M
- 1.49%
- YTD
- 18.96%
- 6M
- 28.89%
- 1Y
- 69.57%
- 3Y*
- 22.94%
- 5Y*
- —
- 10Y*
- —
XCHA.L vs. CM5S.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XCHA.L Xtrackers CSI 300 Swap UCITS ETF 1C | 11.44% | 30.08% | 16.02% | -11.00% | 2.06% |
CM5S.L Invesco S&P China A MidCap 500 Swap UCITS ETF Acc | 18.96% | 52.79% | 12.39% | -9.50% | 11.43% |
Correlation
The correlation between XCHA.L and CM5S.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 | 0.83 |
Correlation (All Time) Calculated using the full available price history since May 10, 2022 | 0.83 |
The correlation between XCHA.L and CM5S.L has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.
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Return for Risk
XCHA.L vs. CM5S.L — Risk / Return Rank
XCHA.L
CM5S.L
XCHA.L vs. CM5S.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.L) and Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (CM5S.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.
| XCHA.L | CM5S.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.51 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 6.69 | 5.21 | +1.48 |
| Martin ratioReturn relative to average drawdown | 19.41 | 19.49 | -0.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XCHA.L | CM5S.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.51 | 3.21 | -0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.73 | -0.44 |
Drawdowns
XCHA.L vs. CM5S.L - Drawdown Comparison
The maximum XCHA.L drawdown since its inception was -50.88%, which is greater than CM5S.L's maximum drawdown of -35.95%. Use the drawdown chart below to compare losses from any high point for XCHA.L and CM5S.L.
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Drawdown Indicators
| XCHA.L | CM5S.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.88% | -35.95% | -14.93% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -13.30% | +7.07% |
Max Drawdown (3Y)Largest decline over 3 years | -26.84% | -26.96% | +0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -40.18% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -44.90% | — | — |
Current DrawdownCurrent decline from peak | -1.93% | -5.14% | +3.21% |
Average DrawdownAverage peak-to-trough decline | -24.58% | -12.17% | -12.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 3.56% | -1.41% |
Volatility
XCHA.L vs. CM5S.L - Volatility Comparison
The current volatility for Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.L) is 6.13%, while Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (CM5S.L) has a volatility of 7.17%. This indicates that XCHA.L experiences smaller price fluctuations and is considered to be less risky than CM5S.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCHA.L | CM5S.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.13% | 7.17% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 11.46% | 16.39% | -4.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.60% | 21.56% | -4.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.39% | 26.47% | -4.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.69% | 26.47% | -3.78% |
XCHA.L vs. CM5S.L - Expense Ratio Comparison
XCHA.L has a 0.50% expense ratio, which is higher than CM5S.L's 0.35% expense ratio.
Dividends
XCHA.L vs. CM5S.L - Dividend Comparison
Neither XCHA.L nor CM5S.L has paid dividends to shareholders.
Frequently Asked Questions
XCHA.L and CM5S.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.
On fees, CM5S.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CM5S.L is cheaper with a 0.35% expense ratio, compared with 0.50% for XCHA.L.
Both ETFs track MSCI China A Onshore NR CNY. They also come from different issuers: Xtrackers and Invesco. Their fees differ too: 0.50% for XCHA.L and 0.35% for CM5S.L.
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