XCNA.L vs. IDFX.L

Last updated Jun 4, 2026

XCNA.L (Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C) and IDFX.L (iShares China Large Cap UCITS) are both China Equities funds - XCNA.L tracks the MSCI China A Onshore NR CNY while IDFX.L tracks the MSCI China NR USD. Both are passively managed. Over the past 3 years, XCNA.L returned 14.96%/yr vs 11.73%/yr for IDFX.L. A 0.72 correlation means they provide meaningful diversification when combined. XCNA.L charges 0.29%/yr vs 0.74%/yr for IDFX.L.

Performance

XCNA.L vs. IDFX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C (XCNA.L) and iShares China Large Cap UCITS (IDFX.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XCNA.L achieves a 11.94% return, which is significantly higher than IDFX.L's -7.14% return.

XCNA.L

• 1D: -0.09%
• 1M: 1.98%
• YTD: 11.94%
• 6M: 16.87%
• 1Y: 44.67%
• 3Y*: 14.96%
• 5Y*: —
• 10Y*: —

IDFX.L

• 1D: -2.52%
• 1M: -3.24%
• YTD: -7.14%
• 6M: -7.61%
• 1Y: 2.29%
• 3Y*: 11.73%
• 5Y*: -3.05%
• 10Y*: 3.13%

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

XCNA.L vs. IDFX.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XCNA.L Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C	11.94%	32.54%	14.47%	-12.47%	11.73%
IDFX.L iShares China Large Cap UCITS	-7.14%	28.34%	31.04%	-13.61%	-10.32%

Correlation

The correlation between XCNA.L and IDFX.L is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Jun 23, 2022	0.72

The correlation between XCNA.L and IDFX.L has been stable across timeframes, ranging from 0.66 to 0.72 - a consistent structural relationship.

Return for Risk

XCNA.L vs. IDFX.L — Risk / Return Rank

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

XCNA.L

XCNA.L Risk / Return Rank: 86
XCNA.L Sharpe Ratio Rank: 83
XCNA.L Sortino Ratio Rank: 82
XCNA.L Omega Ratio Rank: 80
XCNA.L Calmar Ratio Rank: 94
XCNA.L Martin Ratio Rank: 90

IDFX.L

IDFX.L Risk / Return Rank: 10
IDFX.L Sharpe Ratio Rank: 10
IDFX.L Sortino Ratio Rank: 10
IDFX.L Omega Ratio Rank: 10
IDFX.L Calmar Ratio Rank: 11
IDFX.L Martin Ratio Rank: 10

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.

XCNA.L vs. IDFX.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 China Large Cap UCITS (IDFX.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.

	XCNA.L	IDFX.L	Difference
Sharpe ratio: Return per unit of total volatility	2.69	0.12	+2.58
Sortino ratio: Return per unit of downside risk	3.65	0.31	+3.34
Omega ratio: Gain probability vs. loss probability	1.47	1.03	+0.44
Calmar ratio: Return relative to maximum drawdown	7.00	0.15	+6.86
Martin ratio: Return relative to average drawdown	20.72	0.32	+20.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XCNA.L vs. IDFX.L - Sharpe Ratio Comparison

The current XCNA.L Sharpe Ratio is 2.69, which is higher than the IDFX.L Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of XCNA.L and IDFX.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.

Sharpe Ratios by Period

	XCNA.L	IDFX.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.69	0.12	+2.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.10	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.13	+0.43

Drawdowns

XCNA.L vs. IDFX.L - Drawdown Comparison

The maximum XCNA.L drawdown since its inception was -32.05%, smaller than the maximum IDFX.L drawdown of -70.30%. Use the drawdown chart below to compare losses from any high point for XCNA.L and IDFX.L.

Drawdown Indicators

	XCNA.L	IDFX.L	Difference
Max Drawdown Largest peak-to-trough decline	-32.05%	-70.30%	+38.25%
Max Drawdown (1Y) Largest decline over 1 year	-6.35%	-15.54%	+9.19%
Max Drawdown (3Y) Largest decline over 3 years	-27.66%	-28.74%	+1.08%
Max Drawdown (5Y) Largest decline over 5 years	—	-54.41%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-60.44%	—
Current Drawdown Current decline from peak	-2.25%	-26.39%	+24.14%
Average Drawdown Average peak-to-trough decline	-14.28%	-33.92%	+19.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	7.20%	-5.05%

Volatility

XCNA.L vs. IDFX.L - Volatility Comparison

The current volatility for Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C (XCNA.L) is 6.04%, while iShares China Large Cap UCITS (IDFX.L) has a volatility of 7.63%. This indicates that XCNA.L experiences smaller price fluctuations and is considered to be less risky than IDFX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XCNA.L	IDFX.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.04%	7.63%	-1.59%
Volatility (6M) Calculated over the trailing 6-month period	11.33%	13.87%	-2.54%
Volatility (1Y) Calculated over the trailing 1-year period	16.52%	19.31%	-2.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.46%	29.89%	-5.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.46%	26.09%	-1.63%

XCNA.L vs. IDFX.L - Expense Ratio Comparison

XCNA.L has a 0.29% expense ratio, which is lower than IDFX.L's 0.74% expense ratio.

Dividends

XCNA.L vs. IDFX.L - Dividend Comparison

XCNA.L has not paid dividends to shareholders, while IDFX.L's dividend yield for the trailing twelve months is around 1.92%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IDFX.L iShares China Large Cap UCITS	1.92%	1.76%	2.38%	2.43%	2.36%	1.86%	2.39%	2.44%	3.04%	2.35%	2.47%	2.70%
XCNA.L Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XCNA.L and IDFX.L in my portfolio?

XCNA.L and IDFX.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XCNA.L or IDFX.L?

On fees, XCNA.L is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XCNA.L or IDFX.L?

XCNA.L is cheaper with a 0.29% expense ratio, compared with 0.74% for IDFX.L.

What is the main difference between XCNA.L and IDFX.L?

XCNA.L tracks MSCI China A Onshore NR CNY, while IDFX.L tracks MSCI China NR USD. They also come from different issuers: DWS and iShares. Their fees differ too: 0.29% for XCNA.L and 0.74% for IDFX.L.