XDEM.L vs. XCNA.L

Last updated Jun 25, 2026

XDEM.L (Xtrackers MSCI World Momentum Factor UCITS ETF 1C) and XCNA.L (Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C) are both exchange-traded funds - XDEM.L is a Momentum fund tracking the MSCI World Momentum Index, while XCNA.L is a China Equities fund tracking the MSCI China A Onshore NR CNY. Both are passively managed. Over the past 3 years, XDEM.L returned 27.85%/yr vs 15.16%/yr for XCNA.L. At a 0.16 correlation, their price movements are largely independent. XDEM.L charges 0.25%/yr vs 0.29%/yr for XCNA.L.

Performance

XDEM.L vs. XCNA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.L) and Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C (XCNA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, XDEM.L achieves a 25.91% return, which is significantly higher than XCNA.L's 15.10% return.

XDEM.L

• 1D: -0.09%
• 1M: 6.70%
• YTD: 25.91%
• 6M: 25.31%
• 1Y: 39.12%
• 3Y*: 27.85%
• 5Y*: 14.98%
• 10Y*: 16.89%

XCNA.L

• 1D: 0.00%
• 1M: 4.82%
• YTD: 15.10%
• 6M: 15.97%
• 1Y: 46.75%
• 3Y*: 15.16%
• 5Y*: —
• 10Y*: —

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

XDEM.L vs. XCNA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XDEM.L Xtrackers MSCI World Momentum Factor UCITS ETF 1C	25.91%	12.52%	32.87%	5.88%	9.06%
XCNA.L Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C	15.10%	23.10%	16.47%	-16.84%	13.29%

Correlation

The correlation between XDEM.L and XCNA.L is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022	0.16

The correlation between XDEM.L and XCNA.L shifts across timeframes, from 0.15 (3 years) to 0.34 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

XDEM.L vs. XCNA.L — Risk / Return Rank

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

XDEM.L

XDEM.L Risk / Return Rank: 82
XDEM.L Sharpe Ratio Rank: 79
XDEM.L Sortino Ratio Rank: 82
XDEM.L Omega Ratio Rank: 77
XDEM.L Calmar Ratio Rank: 86
XDEM.L Martin Ratio Rank: 86

XCNA.L

XCNA.L Risk / Return Rank: 88
XCNA.L Sharpe Ratio Rank: 86
XCNA.L Sortino Ratio Rank: 85
XCNA.L Omega Ratio Rank: 83
XCNA.L Calmar Ratio Rank: 94
XCNA.L Martin Ratio Rank: 90

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.

XDEM.L vs. XCNA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.L) and Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C (XCNA.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.

	XDEM.L	XCNA.L	Difference
Sharpe ratio: Return per unit of total volatility	2.24	2.73	-0.49
Sortino ratio: Return per unit of downside risk	3.23	3.59	-0.35
Omega ratio: Gain probability vs. loss probability	1.41	1.48	-0.07
Calmar ratio: Return relative to maximum drawdown	4.32	7.80	-3.47
Martin ratio: Return relative to average drawdown	16.33	19.79	-3.45

XDEM.L vs. XCNA.L - Sharpe Ratio Comparison

The current XDEM.L Sharpe Ratio is 2.24, which is comparable to the XCNA.L Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of XDEM.L and XCNA.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.

Drawdowns

XDEM.L vs. XCNA.L - Drawdown Comparison

The maximum XDEM.L drawdown since its inception was -44.39%, which is greater than XCNA.L's maximum drawdown of -35.26%. Use the drawdown chart below to compare losses from any high point for XDEM.L and XCNA.L.

Drawdown Indicators

	XDEM.L	XCNA.L	Difference
Max Drawdown Largest peak-to-trough decline	-44.39%	-35.26%	-9.13%
Max Drawdown (1Y) Largest decline over 1 year	-9.01%	-6.00%	-3.01%
Max Drawdown (3Y) Largest decline over 3 years	-21.17%	-25.63%	+4.46%
Max Drawdown (5Y) Largest decline over 5 years	-21.17%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-23.38%	—	—
Current Drawdown Current decline from peak	-2.86%	-2.09%	-0.77%
Average Drawdown Average peak-to-trough decline	-12.43%	-15.50%	+3.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	2.36%	+0.03%

Volatility

XDEM.L vs. XCNA.L - Volatility Comparison

Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.L) has a higher volatility of 7.33% compared to Xtrackers MSCI China A ESG Screened Swap UCITS ETF 1C (XCNA.L) at 6.26%. This indicates that XDEM.L's price experiences larger fluctuations and is considered to be riskier than XCNA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDEM.L	XCNA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.33%	6.26%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	14.88%	12.20%	+2.68%
Volatility (1Y) Calculated over the trailing 1-year period	17.37%	17.11%	+0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.66%	23.58%	-1.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.35%	23.58%	-1.23%

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

XDEM.L has a 0.25% expense ratio, which is lower than XCNA.L's 0.29% expense ratio.

Dividends

XDEM.L vs. XCNA.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

XDEM.L and XCNA.L have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, XDEM.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, XDEM.L or XCNA.L?

XDEM.L is cheaper with a 0.25% expense ratio, compared with 0.29% for XCNA.L.

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

XDEM.L is categorized as Momentum, while XCNA.L is China Equities. XDEM.L tracks MSCI World Momentum Index, while XCNA.L tracks MSCI China A Onshore NR CNY. Their fees differ too: 0.25% for XDEM.L and 0.29% for XCNA.L.