XCX6.L vs. CM5S.L
XCX6.L (Xtrackers MSCI China UCITS ETF 1C) and CM5S.L (Invesco S&P China A MidCap 500 Swap UCITS ETF Acc) are both China Equities funds - XCX6.L tracks the MSCI China NR USD while CM5S.L tracks the MSCI China A Onshore NR CNY. Both are passively managed. Over the past 3 years, XCX6.L returned 7.33%/yr vs 19.85%/yr for CM5S.L. A 0.65 correlation means they provide meaningful diversification when combined. XCX6.L charges 0.65%/yr vs 0.35%/yr for CM5S.L.
Performance
XCX6.L vs. CM5S.L - Performance Comparison
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Returns By Period
In the year-to-date period, XCX6.L achieves a -7.52% return, which is significantly lower than CM5S.L's 19.25% return.
XCX6.L
- 1D
- -0.40%
- 1M
- -1.77%
- YTD
- -7.52%
- 6M
- -9.53%
- 1Y
- 5.17%
- 3Y*
- 7.33%
- 5Y*
- -4.51%
- 10Y*
- 5.39%
CM5S.L
- 1D
- -0.01%
- 1M
- 2.36%
- YTD
- 19.25%
- 6M
- 27.95%
- 1Y
- 71.20%
- 3Y*
- 19.85%
- 5Y*
- —
- 10Y*
- —
XCX6.L vs. CM5S.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XCX6.L Xtrackers MSCI China UCITS ETF 1C | -7.52% | 22.42% | 20.57% | -17.10% | 8.88% |
CM5S.L Invesco S&P China A MidCap 500 Swap UCITS ETF Acc | 19.25% | 42.07% | 14.29% | -14.04% | 13.69% |
Correlation
The correlation between XCX6.L and CM5S.L is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since May 10, 2022 | 0.65 |
The correlation between XCX6.L and CM5S.L has been stable across timeframes, ranging from 0.64 to 0.65 - a consistent structural relationship.
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Return for Risk
XCX6.L vs. CM5S.L — Risk / Return Rank
XCX6.L
CM5S.L
XCX6.L vs. CM5S.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI China UCITS ETF 1C (XCX6.L) and Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (CM5S.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.
| XCX6.L | CM5S.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.21 | ||
| Sortino ratioReturn per unit of downside risk | -3.69 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.57 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | 0.29 | 5.48 | -5.18 |
| Martin ratioReturn relative to average drawdown | 0.62 | 21.45 | -20.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XCX6.L | CM5S.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.28 | 3.49 | -3.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.16 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.21 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.68 | -0.53 |
Drawdowns
XCX6.L vs. CM5S.L - Drawdown Comparison
The maximum XCX6.L drawdown since its inception was -57.08%, which is greater than CM5S.L's maximum drawdown of -38.57%. Use the drawdown chart below to compare losses from any high point for XCX6.L and CM5S.L.
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Drawdown Indicators
| XCX6.L | CM5S.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.08% | -38.57% | -18.51% |
Max Drawdown (1Y)Largest decline over 1 year | -17.48% | -12.93% | -4.55% |
Max Drawdown (3Y)Largest decline over 3 years | -24.89% | -26.12% | +1.23% |
Max Drawdown (5Y)Largest decline over 5 years | -49.99% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -57.08% | — | — |
Current DrawdownCurrent decline from peak | -34.10% | -4.43% | -29.67% |
Average DrawdownAverage peak-to-trough decline | -20.91% | -13.46% | -7.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.35% | 3.31% | +5.04% |
Volatility
XCX6.L vs. CM5S.L - Volatility Comparison
Xtrackers MSCI China UCITS ETF 1C (XCX6.L) has a higher volatility of 7.09% compared to Invesco S&P China A MidCap 500 Swap UCITS ETF Acc (CM5S.L) at 6.29%. This indicates that XCX6.L's price experiences larger fluctuations and is considered to be riskier than CM5S.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCX6.L | CM5S.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.09% | 6.29% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 13.08% | 15.26% | -2.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.39% | 20.30% | -1.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.71% | 25.03% | +2.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.27% | 25.03% | +0.24% |
XCX6.L vs. CM5S.L - Expense Ratio Comparison
XCX6.L has a 0.65% expense ratio, which is higher than CM5S.L's 0.35% expense ratio.
Dividends
XCX6.L vs. CM5S.L - Dividend Comparison
Neither XCX6.L nor CM5S.L has paid dividends to shareholders.
Frequently Asked Questions
XCX6.L and CM5S.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CM5S.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CM5S.L is cheaper with a 0.35% expense ratio, compared with 0.65% for XCX6.L.
XCX6.L tracks MSCI China NR USD, while CM5S.L tracks MSCI China A Onshore NR CNY. They also come from different issuers: DWS and Invesco. Their fees differ too: 0.65% for XCX6.L and 0.35% for CM5S.L.
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