XCNA.L vs. XCHA.L

Last updated Jun 4, 2026

XCNA.L (Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C) and XCHA.L (Xtrackers CSI 300 Swap UCITS ETF 1C) are both China Equities funds tracking the MSCI China A Onshore NR CNY, from DWS and Xtrackers respectively. Both are passively managed. Over the past 3 years, XCNA.L returned 14.96%/yr vs 15.17%/yr for XCHA.L. With a 0.96 correlation, they move nearly in lockstep. XCNA.L charges 0.29%/yr vs 0.50%/yr for XCHA.L.

Performance

XCNA.L vs. XCHA.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 Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with XCNA.L having a 11.94% return and XCHA.L slightly higher at 12.08%.

XCNA.L

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

XCHA.L

• 1D: -0.02%
• 1M: 2.76%
• YTD: 12.08%
• 6M: 16.35%
• 1Y: 43.73%
• 3Y*: 15.17%
• 5Y*: 2.18%
• 10Y*: 9.44%

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

XCNA.L vs. XCHA.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%
XCHA.L Xtrackers CSI 300 Swap UCITS ETF 1C	12.08%	30.08%	16.02%	-11.00%	-9.97%

Correlation

The correlation between XCNA.L and XCHA.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 23, 2022	0.96

The correlation between XCNA.L and XCHA.L has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

XCNA.L vs. XCHA.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

XCHA.L

XCHA.L Risk / Return Rank: 85
XCHA.L Sharpe Ratio Rank: 81
XCHA.L Sortino Ratio Rank: 80
XCHA.L Omega Ratio Rank: 79
XCHA.L Calmar Ratio Rank: 94
XCHA.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. XCHA.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 Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.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	XCHA.L	Difference
Sharpe ratio Return per unit of total volatility	2.69	2.62	+0.07
Sortino ratio Return per unit of downside risk	3.65	3.57	+0.08
Omega ratio Gain probability vs. loss probability	1.47	1.47	0.00
Calmar ratio Return relative to maximum drawdown	7.00	6.99	+0.02
Martin ratio Return relative to average drawdown	20.72	20.32	+0.40
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. XCHA.L - Sharpe Ratio Comparison

The current XCNA.L Sharpe Ratio is 2.69, which is comparable to the XCHA.L Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of XCNA.L and XCHA.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	XCHA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.69	2.62	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.10	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.29	+0.27

Drawdowns

XCNA.L vs. XCHA.L - Drawdown Comparison

The maximum XCNA.L drawdown since its inception was -32.05%, smaller than the maximum XCHA.L drawdown of -50.88%. Use the drawdown chart below to compare losses from any high point for XCNA.L and XCHA.L.

Drawdown Indicators

	XCNA.L	XCHA.L	Difference
Max Drawdown Largest peak-to-trough decline	-32.05%	-50.88%	+18.83%
Max Drawdown (1Y) Largest decline over 1 year	-6.35%	-6.23%	-0.12%
Max Drawdown (3Y) Largest decline over 3 years	-27.66%	-26.84%	-0.82%
Max Drawdown (5Y) Largest decline over 5 years	—	-40.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.90%	—
Current Drawdown Current decline from peak	-2.25%	-1.37%	-0.88%
Average Drawdown Average peak-to-trough decline	-14.28%	-24.59%	+10.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	2.15%	0.00%

Volatility

XCNA.L vs. XCHA.L - Volatility Comparison

Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C (XCNA.L) and Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.L) have volatilities of 6.04% and 6.09%, 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	XCHA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.04%	6.09%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	11.33%	11.47%	-0.14%
Volatility (1Y) Calculated over the trailing 1-year period	16.52%	16.61%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.46%	22.39%	+2.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.46%	22.70%	+1.76%

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

XCNA.L has a 0.29% expense ratio, which is lower than XCHA.L's 0.50% expense ratio.

Dividends

XCNA.L vs. XCHA.L - Dividend Comparison

Neither XCNA.L nor XCHA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 0.98, XCNA.L and XCHA.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 XCHA.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 XCHA.L?

XCNA.L is cheaper with a 0.29% expense ratio, compared with 0.50% for XCHA.L.

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

Both ETFs track MSCI China A Onshore NR CNY. They also come from different issuers: DWS and Xtrackers. Their fees differ too: 0.29% for XCNA.L and 0.50% for XCHA.L.