GXC vs CMBS

Comparison between STATE STREET(R) SPDR(R) S&P(R) CHINA ETF (GXC, ETF) and ISHARES CMBS ETF (CMBS, ETF).

5-Year PerformanceCMBS has outperformed GXC, delivering a return of +0.8% compared to -1.7%

GXC vs CMBS - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	GXC(ETF)	CMBS(ETF)
Net Assets	$472M	$473M
Expense Ratio	0.59%	0.25%
Max Drawdown	72.35%	20.92%
Sharpe Ratio	-0.45	-0.33
5Y Beta	0.62	0.01
5Y Dividends CAGR	10.09%	2.20%

Net Assets

GXC

$472M

Winner

CMBS

$473M

Expense Ratio

GXC

0.59%

Winner

CMBS

0.25%

Max Drawdown

GXC

72.35%

Winner

CMBS

20.92%

Sharpe Ratio

GXC

-0.45

Winner

CMBS

-0.33

5Y Beta

GXC

0.62

Winner

CMBS

0.01

5Y Dividends CAGR

Winner

GXC

10.09%

CMBS

2.20%

GXC vs CMBS - Historical Returns

Returns include dividend reinvestment.

Period	GXC	CMBS
1 month	+1.40%	+0.47%
3 months	-1.36%	+0.44%
6 months	-6.84%	-1.16%
1 year	-3.73%	+2.45%
5 years(CAGR)	-1.69%	+0.77%
10 years(CAGR)	+3.96%	+1.93%
Max(CAGR)	+4.87%	+2.38%

Winner

GXC

+1.40%

CMBS

+0.47%

GXC

-1.36%

Winner

CMBS

+0.44%

GXC

-6.84%

Winner

CMBS

-1.16%

GXC

-3.73%

Winner

CMBS

+2.45%

5Y(CAGR)

GXC

-1.69%

Winner

CMBS

+0.77%

10Y(CAGR)

Winner

GXC

+3.96%

CMBS

+1.93%

Max(CAGR)

Winner

GXC

+4.87%

CMBS

+2.38%

GXC vs CMBS - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	GXC	CMBS
2026	-8.51%	+0.62%
2025	+33.32%	+7.26%
2024	+17.35%	+4.46%
2023	-12.72%	+5.03%
2022	-22.44%	-10.84%
2021	-20.17%	-1.82%
2020	+24.40%	+7.84%
2019	+23.80%	+7.93%
2018	-22.33%	+1.05%
2017	+50.45%	+3.29%
2016	+3.99%	+3.06%
2015	-5.28%	+0.69%
2014	+6.92%	+2.56%
2013	+4.82%	+0.39%
2012	+18.04%	+4.54%
2011	-18.05%	N/A
2010	+4.63%	N/A
2009	+50.80%	N/A
2008	-48.22%	N/A
2007	+70.08%	N/A

GXC vs CMBS Drawdown Comparison

The maximum drawdown for GXC was -71.97%, occurring on Oct 27, 2008. Recovery took 1880 trading sessions.

The maximum drawdown for CMBS was -15.87%, occurring on Nov 3, 2022. Recovery took 1014 trading sessions.

The current GXC drawdown is -33.12%. The current CMBS drawdown is -1.16%.

Rank	GXC	CMBS
#1	-71.97% Oct 31, 2007 - Apr 22, 2015	-15.87% Jul 20, 2021 - Aug 4, 2025
#2	-60.23% Feb 17, 2021 - Oct 31, 2022	-9.89% Mar 9, 2020 - Jul 30, 2020
#3	-39.71% Apr 27, 2015 - Jul 19, 2017	-4.94% Sep 7, 2016 - Sep 5, 2017
#4	-32.96% Jan 26, 2018 - Jul 8, 2020	-3.82% Sep 7, 2017 - Jan 3, 2019
#5	-16.82% Jul 23, 2007 - Aug 27, 2007	-3.33% May 21, 2013 - Apr 14, 2014
#6	-8.76% Oct 17, 2007 - Oct 31, 2007	-2.55% Jan 29, 2021 - Jul 20, 2021
#7	-8.06% Nov 22, 2017 - Jan 2, 2018	-2.44% Feb 27, 2026 - Mar 27, 2026
#8	-7.84% Aug 27, 2007 - Sep 4, 2007	-2.20% Feb 2, 2015 - Oct 14, 2015
#9	-7.45% Sep 1, 2020 - Oct 12, 2020	-2.05% Oct 14, 2015 - Jan 20, 2016
#10	-5.86% Jul 9, 2020 - Aug 24, 2020	-2.04% Sep 4, 2019 - Jan 27, 2020
#11	-5.75% Oct 2, 2007 - Oct 5, 2007	-1.84% Feb 11, 2016 - Apr 1, 2016
#12	-5.60% Jan 25, 2021 - Feb 9, 2021	-1.82% Jul 3, 2012 - Jul 25, 2012
#13	-4.85% Apr 16, 2007 - May 7, 2007	-1.60% Mar 7, 2012 - Jun 26, 2012
#14	-4.65% May 16, 2007 - Jun 5, 2007	-1.54% Oct 2, 2020 - Dec 11, 2020
#15	-4.58% Nov 27, 2020 - Jan 5, 2021	-1.38% Nov 28, 2014 - Jan 7, 2015

Correlation

Correlation between GXC and CMBS is 0.79 which considered as a strong positive correlation - the stocks tend to move together.

0.79

-101

Dividend Comparison (2007 - 2026)

GXC vs CMBS dividend yield comparison.

Year	GXC	CMBS
2026	0.73%	2.13%
2025	2.40%	3.45%
2024	2.80%	3.31%
2023	3.70%	2.97%
2022	2.67%	2.65%
2021	1.35%	2.46%
2020	1.04%	2.83%
2019	1.60%	2.74%
2018	2.03%	2.70%
2017	1.84%	2.50%
2016	2.05%	2.29%
2015	2.85%	2.31%
2014	2.11%	2.15%
2013	2.29%	2.00%
2012	2.02%	2.22%
2011	2.09%	0.00%
2010	1.25%	0.00%
2009	0.98%	0.00%
2008	1.78%	0.00%
2007	1.39%	0.00%