XCNA.L vs. CEMA.L
XCNA.L (Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C) and CEMA.L (iShares MSCI EM Asia UCITS ETF USD Acc) are both exchange-traded funds - XCNA.L is a China Equities fund tracking the MSCI China A Onshore NR CNY, while CEMA.L is a Asia Pacific Equities fund tracking the MSCI EM Asia Index Net. Both are passively managed. Over the past 3 years, XCNA.L returned 14.08%/yr vs 21.86%/yr for CEMA.L. A 0.64 correlation means they provide meaningful diversification when combined. XCNA.L charges 0.29%/yr vs 0.20%/yr for CEMA.L.
Performance
XCNA.L vs. CEMA.L - Performance Comparison
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Returns By Period
In the year-to-date period, XCNA.L achieves a 9.69% return, which is significantly lower than CEMA.L's 22.45% return.
XCNA.L
- 1D
- 0.00%
- 1M
- -2.02%
- 6M
- 7.23%
- YTD
- 9.69%
- 1Y
- 34.84%
- 3Y*
- 14.08%
- 5Y*
- —
- 10Y*
- —
CEMA.L
- 1D
- -0.48%
- 1M
- -7.06%
- 6M
- 16.81%
- YTD
- 22.45%
- 1Y
- 40.02%
- 3Y*
- 21.86%
- 5Y*
- 7.43%
- 10Y*
- 10.13%
XCNA.L vs. CEMA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XCNA.L Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C | 9.69% | 32.54% | 14.47% | -12.47% | 11.73% |
CEMA.L iShares MSCI EM Asia UCITS ETF USD Acc | 22.45% | 33.97% | 12.43% | 6.65% | -5.39% |
Correlation
The correlation between XCNA.L and CEMA.L is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022 | 0.64 |
The correlation between XCNA.L and CEMA.L has been stable across timeframes, ranging from 0.61 to 0.64 - a consistent structural relationship.
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Return for Risk
XCNA.L vs. CEMA.L — Risk / Return Rank
XCNA.L
CEMA.L
XCNA.L vs. CEMA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C (XCNA.L) and iShares MSCI EM Asia UCITS ETF USD Acc (CEMA.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.
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.
| XCNA.L | CEMA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.31 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.74 | 2.89 | +1.85 |
| Martin ratioReturn relative to average drawdown | 13.37 | 9.20 | +4.16 |
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Drawdowns
XCNA.L vs. CEMA.L - Drawdown Comparison
The maximum XCNA.L drawdown since its inception was -32.05%, smaller than the maximum CEMA.L drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for XCNA.L and CEMA.L.
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Drawdown Indicators
| XCNA.L | CEMA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.05% | -45.51% | +13.46% |
Max Drawdown (1Y)Largest decline over 1 year | -7.34% | -13.77% | +6.43% |
Max Drawdown (3Y)Largest decline over 3 years | -27.66% | -19.95% | -7.71% |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.96% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.51% | — |
Current DrawdownCurrent decline from peak | -5.15% | -9.59% | +4.44% |
Average DrawdownAverage peak-to-trough decline | -13.98% | -14.52% | +0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 4.34% | -1.73% |
Volatility
XCNA.L vs. CEMA.L - Volatility Comparison
The current volatility for Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C (XCNA.L) is 8.24%, while iShares MSCI EM Asia UCITS ETF USD Acc (CEMA.L) has a volatility of 10.19%. This indicates that XCNA.L experiences smaller price fluctuations and is considered to be less risky than CEMA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCNA.L | CEMA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.24% | 10.19% | -1.95% |
Volatility (6M)Calculated over the trailing 6-month period | 14.15% | 21.60% | -7.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.67% | 23.77% | -5.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.53% | 20.87% | +3.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.53% | 20.15% | +4.38% |
XCNA.L vs. CEMA.L - Expense Ratio Comparison
XCNA.L has a 0.29% expense ratio, which is higher than CEMA.L's 0.20% expense ratio.
Dividends
XCNA.L vs. CEMA.L - Dividend Comparison
Neither XCNA.L nor CEMA.L has paid dividends to shareholders.
Frequently Asked Questions
XCNA.L and CEMA.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEMA.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEMA.L is cheaper with a 0.20% expense ratio, compared with 0.29% for XCNA.L.
XCNA.L is categorized as China Equities, while CEMA.L is Asia Pacific Equities. XCNA.L tracks MSCI China A Onshore NR CNY, while CEMA.L tracks MSCI EM Asia Index Net. They also come from different issuers: DWS and iShares. Their fees differ too: 0.29% for XCNA.L and 0.20% for CEMA.L.
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