- Issuer
- Matthews
- Inception Date
- Jan 10, 2024
- Category
- China Equities, Asia Pacific Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $19M
Highlights
- Avg. Volume (1M)
- 20K
- Avg. Volume Value (1M)
- $914.40K
Share Price Chart
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Performance
MCHS Performance Chart
Matthews China Discovery Active ETF (MCHS) is up 23.9% since the beginning of the year. MCHS is currently trading at $40 per share.
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Returns By Period
Matthews China Discovery Active ETF (MCHS) has returned 23.90% so far this year and 36.95% over the past 12 months.
Matthews China Discovery Active ETF
- 1D
- 1.71%
- 1M
- -14.97%
- 6M
- 11.94%
- YTD
- 23.90%
- 1Y
- 36.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 24.01%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
MCHS Monthly Returns History
Based on dividend-adjusted daily data since Jan 11, 2024, MCHS's average daily return is +0.10%, while the average monthly return is +2.17%. At this rate, an investment would double in approximately 2.7 years.
Historically, 61% of months were positive and 39% were negative. The best month was Sep 2024 with a return of +19.9%, while the worst month was Jul 2026 at -23.5%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 3 months.
On a daily basis, MCHS closed higher 52% of trading days. The best single day was Apr 9, 2025 with a return of +12.2%, while the worst single day was Oct 8, 2024 at -11.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 10.68% | 12.31% | -10.87% | 19.35% | 9.55% | 11.85% | -23.54% | 23.90% | |||||
| 2025 | 3.41% | 4.83% | 1.26% | -4.10% | 1.86% | 5.71% | 6.05% | 9.28% | 3.25% | -2.93% | -2.24% | 1.92% | 31.19% |
| 2024 | -9.40% | 11.55% | -0.39% | 3.56% | 2.23% | -5.47% | -4.97% | -2.22% | 19.87% | -3.41% | -1.82% | 0.10% | 6.53% |
Benchmark Metrics
Matthews China Discovery Active ETF has an annualized alpha of 11.72%, beta of 0.80, and R2 of 0.17 versus S&P 500 Index. Calculated based on daily prices since January 11, 2024.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (97.36%) than losses (53.52%) - typical of diversified or defensive assets.
- R2 of 0.17 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 11.72%
- Beta
- 0.80
- R²
- 0.17
- Upside Capture
- 97.36%
- Downside Capture
- 53.52%
Expense Ratio
MCHS has an expense ratio of 0.89%, placing it in the medium range.
Return for Risk
Risk / Return Rank
MCHS ranks 45 for risk / return — above 45% of ETFs peers on PortfoliosLab. Its historical combined result is near the middle of the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Matthews China Discovery Active ETF (MCHS) and compare them to S&P 500 Index.
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.
| MCHS | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.25 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 2.00 | -0.58 |
| Martin ratioReturn relative to average drawdown | 5.25 | 8.49 | -3.24 |
Dividends
Dividend History
Matthews China Discovery Active ETF provided a 2.88% dividend yield over the last twelve months, with an annual payout of $1.16 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $1.16 | $1.16 | $1.41 |
Dividend yield | 2.88% | 3.56% | 5.48% |
Monthly Dividends
The table displays the monthly dividend distributions for Matthews China Discovery Active ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.16 | $1.16 |
| 2024 | $1.41 | $1.41 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Matthews China Discovery Active ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Matthews China Discovery Active ETF was 24.83%, occurring on Jul 30, 2026. The portfolio has not yet recovered.
The current Matthews China Discovery Active ETF drawdown is 23.54%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-24.83%Jul 2026 | 29d | — | 1mo 3dJul 2026 - now | — |
-23.75%Apr 2025 | 6mo 2d | 3mo 15d | 9mo 17dOct 2024 - Jul 2025 | 2025 selloff2025 |
-18.87%Aug 2024 | 3mo 10d | 1mo 3d | 4mo 13dMay 2024 - Sep 2024 | — |
-12.15%Mar 2026 | 20d | 25d | 1mo 15dMar 2026 - Apr 2026 | — |
-11.65%Feb 2024 | 20d | 22d | 1mo 12dJan 2024 - Feb 2024 | — |
Drawdown Indicators
| MCHS | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.83% | -56.78% | +31.95% |
Max Drawdown (1Y)Largest decline over 1 year | -24.83% | -9.10% | -15.73% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -23.54% | -1.58% | -21.96% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -10.70% | +2.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.72% | 2.14% | +4.58% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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