XCX6.L vs. XZHE.L

Last updated Jun 5, 2026

XCX6.L (Xtrackers MSCI China UCITS ETF 1C) and XZHE.L (Xtrackers ESG EUR High Yield Corporate Bond UCITS ETF 1C) are both exchange-traded funds - XCX6.L is a China Equities fund tracking the MSCI China NR USD, while XZHE.L is a European High Yield Bonds fund tracking the Bloomberg Pan Euro HY Euro TR EUR. Both are passively managed. At a 0.23 correlation, their price movements are largely independent. XCX6.L charges 0.65%/yr vs 0.25%/yr for XZHE.L.

Performance

XCX6.L vs. XZHE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers MSCI China UCITS ETF 1C (XCX6.L) and Xtrackers ESG EUR High Yield Corporate Bond UCITS ETF 1C (XZHE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XCX6.L is traded in GBp, while XZHE.L is traded in EUR. To make them comparable, the XZHE.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

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%

XZHE.L

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XCX6.L vs. XZHE.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%	-9.81%
XZHE.L Xtrackers ESG EUR High Yield Corporate Bond UCITS ETF 1C	-0.63%	11.10%	1.12%	7.71%	7.98%

Correlation

The correlation between XCX6.L and XZHE.L is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jul 12, 2022	0.23

Return for Risk

XCX6.L vs. XZHE.L — Risk / Return Rank

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

XCX6.L

XCX6.L Risk / Return Rank: 13
XCX6.L Sharpe Ratio Rank: 13
XCX6.L Sortino Ratio Rank: 13
XCX6.L Omega Ratio Rank: 13
XCX6.L Calmar Ratio Rank: 13
XCX6.L Martin Ratio Rank: 12

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.

XCX6.L vs. XZHE.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 Xtrackers ESG EUR High Yield Corporate Bond UCITS ETF 1C (XZHE.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	XZHE.L	Difference
Sharpe ratio: Return per unit of total volatility	0.28	—	—
Sortino ratio: Return per unit of downside risk	0.52	—	—
Omega ratio: Gain probability vs. loss probability	1.06	—	—
Calmar ratio: Return relative to maximum drawdown	0.29	—	—
Martin ratio: Return relative to average drawdown	0.62	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	XCX6.L	XZHE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.28	—	—
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	—	—

Drawdowns

Drawdown Indicators

	XCX6.L	XZHE.L	Difference
Max Drawdown Largest peak-to-trough decline	-57.08%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-17.48%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-24.89%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-49.99%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-57.08%	—	—
Current Drawdown Current decline from peak	-34.10%	—	—
Average Drawdown Average peak-to-trough decline	-20.91%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	8.35%	—	—

Volatility

Volatility by Period

	XCX6.L	XZHE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.09%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.08%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.39%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.71%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.27%	—	—

XCX6.L vs. XZHE.L - Expense Ratio Comparison

XCX6.L has a 0.65% expense ratio, which is higher than XZHE.L's 0.25% expense ratio.

Dividends

XCX6.L vs. XZHE.L - Dividend Comparison

Neither XCX6.L nor XZHE.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XCX6.L and XZHE.L in my portfolio?

XCX6.L and XZHE.L have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XCX6.L or XZHE.L?

On fees, XZHE.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XCX6.L or XZHE.L?

XZHE.L is cheaper with a 0.25% expense ratio, compared with 0.65% for XCX6.L.

What is the main difference between XCX6.L and XZHE.L?

XCX6.L is categorized as China Equities, while XZHE.L is European High Yield Bonds. XCX6.L tracks MSCI China NR USD, while XZHE.L tracks Bloomberg Pan Euro HY Euro TR EUR. Their fees differ too: 0.65% for XCX6.L and 0.25% for XZHE.L.