XCNA.L vs. JRCD.L

Last updated Jun 4, 2026

XCNA.L (Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C) and JRCD.L (JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)) are both China Equities funds tracking the MSCI China A Onshore NR CNY, from DWS and JPMorgan respectively. Both are passively managed. Over the past 3 years, XCNA.L returned 14.96%/yr vs 11.58%/yr for JRCD.L. Their correlation of 0.92 suggests significant overlap in exposure. XCNA.L charges 0.29%/yr vs 0.40%/yr for JRCD.L.

Performance

XCNA.L vs. JRCD.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 JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRCD.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XCNA.L is traded in USD, while JRCD.L is traded in GBp. To make them comparable, the JRCD.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XCNA.L achieves a 11.94% return, which is significantly higher than JRCD.L's 10.70% return.

XCNA.L

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

JRCD.L

• 1D: 2.02%
• 1M: 2.68%
• YTD: 10.70%
• 6M: 15.11%
• 1Y: 40.51%
• 3Y*: 11.58%
• 5Y*: —
• 10Y*: —

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

XCNA.L vs. JRCD.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%
JRCD.L JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	10.70%	27.89%	9.57%	-13.40%	-8.92%

Correlation

The correlation between XCNA.L and JRCD.L is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jun 23, 2022	0.92

The correlation between XCNA.L and JRCD.L has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

XCNA.L vs. JRCD.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

JRCD.L

JRCD.L Risk / Return Rank: 87
JRCD.L Sharpe Ratio Rank: 86
JRCD.L Sortino Ratio Rank: 84
JRCD.L Omega Ratio Rank: 84
JRCD.L Calmar Ratio Rank: 93
JRCD.L Martin Ratio Rank: 89

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. JRCD.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 JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRCD.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	JRCD.L	Difference
Sharpe ratio Return per unit of total volatility	2.69	2.64	+0.06
Sortino ratio Return per unit of downside risk	3.65	3.60	+0.05
Omega ratio Gain probability vs. loss probability	1.47	1.46	+0.01
Calmar ratio Return relative to maximum drawdown	7.00	5.73	+1.27
Martin ratio Return relative to average drawdown	20.72	18.14	+2.58
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. JRCD.L - Sharpe Ratio Comparison

The current XCNA.L Sharpe Ratio is 2.69, which is comparable to the JRCD.L Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of XCNA.L and JRCD.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	JRCD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.69	2.64	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.08	+0.48

Drawdowns

XCNA.L vs. JRCD.L - Drawdown Comparison

The maximum XCNA.L drawdown since its inception was -32.05%, smaller than the maximum JRCD.L drawdown of -37.99%. Use the drawdown chart below to compare losses from any high point for XCNA.L and JRCD.L.

Drawdown Indicators

	XCNA.L	JRCD.L	Difference
Max Drawdown Largest peak-to-trough decline	-32.05%	-37.99%	+5.94%
Max Drawdown (1Y) Largest decline over 1 year	-6.35%	-7.30%	+0.95%
Max Drawdown (3Y) Largest decline over 3 years	-27.66%	-27.49%	-0.17%
Current Drawdown Current decline from peak	-2.25%	-2.26%	+0.01%
Average Drawdown Average peak-to-trough decline	-14.28%	-19.64%	+5.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	2.31%	-0.16%

Volatility

XCNA.L vs. JRCD.L - Volatility Comparison

Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C (XCNA.L) and JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRCD.L) have volatilities of 6.04% and 6.21%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XCNA.L	JRCD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.04%	6.21%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	11.33%	10.98%	+0.35%
Volatility (1Y) Calculated over the trailing 1-year period	16.52%	15.89%	+0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.46%	22.98%	+1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.46%	22.98%	+1.48%

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

XCNA.L has a 0.29% expense ratio, which is lower than JRCD.L's 0.40% expense ratio.

Dividends

XCNA.L vs. JRCD.L - Dividend Comparison

XCNA.L has not paid dividends to shareholders, while JRCD.L's dividend yield for the trailing twelve months is around 0.86%.

Position	TTM	2025	2024	2023	2022
JRCD.L JPMorgan China A Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	0.86%	1.35%	1.97%	1.67%	1.88%
XCNA.L Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

With a correlation of 0.93, XCNA.L and JRCD.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

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

XCNA.L is cheaper with a 0.29% expense ratio, compared with 0.40% for JRCD.L.

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

Both ETFs track MSCI China A Onshore NR CNY. They also come from different issuers: DWS and JPMorgan. Their fees differ too: 0.29% for XCNA.L and 0.40% for JRCD.L.