- Issuer
- Matthews
- Inception Date
- Jan 10, 2024
- Category
- China 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
- $23M
Share Price Chart
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Performance
MCHS Performance Chart
Matthews China Discovery Active ETF (MCHS) is up 58.8% since the beginning of the year. MCHS is currently trading at $52 per share.
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Returns By Period
Matthews China Discovery Active ETF (MCHS) has returned 58.77% so far this year and 91.39% over the past 12 months.
Matthews China Discovery Active ETF
- 1D
- 1.89%
- 1M
- 11.47%
- YTD
- 58.77%
- 6M
- 57.32%
- 1Y
- 91.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
MCHS Monthly Returns History
Based on dividend-adjusted daily data since Jan 11, 2024, MCHS's average daily return is +0.15%, while the average monthly return is +2.95%. At this rate, an investment would double in approximately 2.0 years.
Historically, 63% of months were positive and 37% were negative. The best month was Sep 2024 with a return of +19.9%, while the worst month was Mar 2026 at -10.9%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 3 months.
On a daily basis, MCHS closed higher 53% 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% | 9.59% | 58.77% | ||||||
| 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 24.56%, beta of 0.77, and R2 of 0.17 versus S&P 500 Index. Calculated based on daily prices since January 11, 2024.
- This ETF captured 97.36% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -69.30%) - a profile typical of hedging or uncorrelated 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
- 24.56%
- Beta
- 0.77
- R²
- 0.17
- Upside Capture
- 97.36%
- Downside Capture
- -69.30%
Expense Ratio
MCHS has an expense ratio of 0.89%, placing it in the medium range.
Return for Risk
Risk / Return Rank
MCHS ranks 94 for risk / return — in the top 94% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by 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 | +1.70 | ||
| Sortino ratioReturn per unit of downside risk | +1.71 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.37 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 7.56 | 2.78 | +4.78 |
| Martin ratioReturn relative to average drawdown | 22.10 | 12.44 | +9.66 |
Dividends
Dividend History
Matthews China Discovery Active ETF provided a 2.24% 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 | 2.24% | 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 | ||||||
| 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 23.75%, occurring on Apr 8, 2025. Recovery took 71 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -23.75%Apr 2025 | 6mo 2d | 3mo 15d | 9mo 17dOct 2024 - Jul 2025 |
2024 correction2024 | -18.87%Aug 2024 | 3mo 10d | 1mo 3d | 4mo 13dMay 2024 - Sep 2024 |
2026 correction2026 | -12.15%Mar 2026 | 20d | 25d | 1mo 15dMar 2026 - Apr 2026 |
2024 correction2024 | -11.65%Feb 2024 | 20d | 22d | 1mo 12dJan 2024 - Feb 2024 |
2025 correction2025 | -10.19%Nov 2025 | 1mo 19d | 1mo 17d | 3mo 6dOct 2025 - Jan 2026 |
Drawdown Indicators
| MCHS | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.75% | -56.78% | +33.03% |
Max Drawdown (1Y)Largest decline over 1 year | -12.15% | -9.10% | -3.05% |
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 | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -7.53% | -10.71% | +3.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.15% | 2.03% | +2.12% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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