XCNA.L vs. JREC.L
XCNA.L (Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C) and JREC.L (JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc)) are both China Equities funds. XCNA.L is passively managed, while JREC.L is actively managed. Over the past 3 years, XCNA.L returned 14.08%/yr vs 11.15%/yr for JREC.L. Their correlation of 0.92 suggests significant overlap in exposure.
Performance
XCNA.L vs. JREC.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with XCNA.L having a 9.69% return and JREC.L slightly lower at 9.52%.
XCNA.L
- 1D
- 0.00%
- 1M
- -2.02%
- 6M
- 7.23%
- YTD
- 9.69%
- 1Y
- 34.84%
- 3Y*
- 14.08%
- 5Y*
- —
- 10Y*
- —
JREC.L
- 1D
- -0.77%
- 1M
- -1.91%
- 6M
- 6.51%
- YTD
- 9.52%
- 1Y
- 32.83%
- 3Y*
- 11.15%
- 5Y*
- —
- 10Y*
- —
XCNA.L vs. JREC.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% |
JREC.L JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) | 9.52% | 28.38% | 9.65% | -13.02% | -11.09% |
Correlation
The correlation between XCNA.L and JREC.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022 | 0.92 |
The correlation between XCNA.L and JREC.L has been stable across timeframes, ranging from 0.92 to 0.98 - a consistent structural relationship.
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Return for Risk
XCNA.L vs. JREC.L — Risk / Return Rank
XCNA.L
JREC.L
XCNA.L vs. JREC.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 JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREC.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 | JREC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.31 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.74 | 4.53 | +0.22 |
| Martin ratioReturn relative to average drawdown | 13.37 | 12.00 | +1.36 |
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Drawdowns
XCNA.L vs. JREC.L - Drawdown Comparison
The maximum XCNA.L drawdown since its inception was -32.05%, smaller than the maximum JREC.L drawdown of -37.92%. Use the drawdown chart below to compare losses from any high point for XCNA.L and JREC.L.
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Drawdown Indicators
| XCNA.L | JREC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.05% | -37.92% | +5.87% |
Max Drawdown (1Y)Largest decline over 1 year | -7.34% | -7.22% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -27.66% | -27.06% | -0.60% |
Current DrawdownCurrent decline from peak | -5.15% | -5.30% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -13.98% | -18.94% | +4.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 2.73% | -0.12% |
Volatility
XCNA.L vs. JREC.L - Volatility Comparison
The current volatility for Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C (XCNA.L) is 8.24%, while JPM China A Research Enhanced Index Equity Active UCITS ETF - USD (acc) (JREC.L) has a volatility of 8.90%. This indicates that XCNA.L experiences smaller price fluctuations and is considered to be less risky than JREC.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 | JREC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.24% | 8.90% | -0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 14.15% | 14.69% | -0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.67% | 18.76% | -0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.53% | 23.02% | +1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.53% | 23.02% | +1.51% |
Dividends
XCNA.L vs. JREC.L - Dividend Comparison
Neither XCNA.L nor JREC.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, XCNA.L and JREC.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.
They also come from different issuers: DWS and ETF Issuer.
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