ADVE vs. MCHS

Last updated Jun 4, 2026

ADVE (Matthews Asia Dividend Active ETF) and MCHS (Matthews China Discovery Active ETF) are both exchange-traded funds - ADVE is a Asia Pacific Equities fund actively managed by Matthews, while MCHS is a China Equities fund actively managed by Matthews. Both are actively managed. Over the past year, ADVE returned 41.86% vs 74.61% for MCHS. A 0.58 correlation means they provide meaningful diversification when combined. ADVE charges 0.79%/yr vs 0.89%/yr for MCHS.

Performance

ADVE vs. MCHS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Asia Dividend Active ETF (ADVE) and Matthews China Discovery Active ETF (MCHS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADVE achieves a 21.50% return, which is significantly lower than MCHS's 44.10% return.

ADVE

• 1D: -0.63%
• 1M: 5.23%
• YTD: 21.50%
• 6M: 23.40%
• 1Y: 41.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MCHS

• 1D: 0.03%
• 1M: 8.54%
• YTD: 44.10%
• 6M: 45.75%
• 1Y: 74.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ADVE vs. MCHS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ADVE Matthews Asia Dividend Active ETF	21.50%	26.12%	8.65%
MCHS Matthews China Discovery Active ETF	44.10%	31.19%	6.53%

Correlation

The correlation between ADVE and MCHS is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024	0.58

The correlation between ADVE and MCHS has been stable across timeframes, ranging from 0.51 to 0.58 - a consistent structural relationship.

ADVE vs. MCHS - Sectors Allocation Comparison

Sectors	ADVE	MCHS
Technology	29.0%	31.5%
Financial Services	27.3%	-
Industrials	13.6%	32.9%
Communication Services	9.5%	1.2%
Consumer Cyclical	6.9%	12.5%
Real Estate	4.0%	3.7%
Basic Materials	3.4%	9.0%
Consumer Defensive	2.9%	0.8%
Energy	1.2%	3.9%
Utilities	1.1%	2.1%
Healthcare	1.1%	4.4%

Return for Risk

ADVE vs. MCHS — Risk / Return Rank

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

ADVE

ADVE Risk / Return Rank: 76
ADVE Sharpe Ratio Rank: 77
ADVE Sortino Ratio Rank: 77
ADVE Omega Ratio Rank: 79
ADVE Calmar Ratio Rank: 72
ADVE Martin Ratio Rank: 75

MCHS

MCHS Risk / Return Rank: 90
MCHS Sharpe Ratio Rank: 92
MCHS Sortino Ratio Rank: 89
MCHS Omega Ratio Rank: 88
MCHS Calmar Ratio Rank: 92
MCHS Martin Ratio Rank: 87

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.

ADVE vs. MCHS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Asia Dividend Active ETF (ADVE) and Matthews China Discovery Active ETF (MCHS). 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.

	ADVE	MCHS	Difference
Sharpe ratio Return per unit of total volatility	2.49	3.30	-0.81
Sortino ratio Return per unit of downside risk	3.47	4.11	-0.64
Omega ratio Gain probability vs. loss probability	1.47	1.55	-0.09
Calmar ratio Return relative to maximum drawdown	3.59	6.17	-2.59
Martin ratio Return relative to average drawdown	14.23	18.64	-4.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ADVE vs. MCHS - Sharpe Ratio Comparison

The current ADVE Sharpe Ratio is 2.49, which is comparable to the MCHS Sharpe Ratio of 3.30. The chart below compares the historical Sharpe Ratios of ADVE and MCHS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ADVE	MCHS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	3.30	-0.81
Sharpe Ratio (All Time) Calculated using the full available price history	1.44	1.21	+0.23

Drawdowns

ADVE vs. MCHS - Drawdown Comparison

The maximum ADVE drawdown since its inception was -18.41%, smaller than the maximum MCHS drawdown of -23.75%. Use the drawdown chart below to compare losses from any high point for ADVE and MCHS.

Drawdown Indicators

	ADVE	MCHS	Difference
Max Drawdown Largest peak-to-trough decline	-18.41%	-23.75%	+5.34%
Max Drawdown (1Y) Largest decline over 1 year	-11.73%	-12.15%	+0.42%
Current Drawdown Current decline from peak	-0.63%	-3.27%	+2.64%
Average Drawdown Average peak-to-trough decline	-3.15%	-7.61%	+4.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	4.02%	-1.07%

Volatility

ADVE vs. MCHS - Volatility Comparison

The current volatility for Matthews Asia Dividend Active ETF (ADVE) is 5.98%, while Matthews China Discovery Active ETF (MCHS) has a volatility of 10.80%. This indicates that ADVE experiences smaller price fluctuations and is considered to be less risky than MCHS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADVE	MCHS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.98%	10.80%	-4.82%
Volatility (6M) Calculated over the trailing 6-month period	14.42%	18.20%	-3.78%
Volatility (1Y) Calculated over the trailing 1-year period	16.89%	22.74%	-5.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.68%	28.24%	-12.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.68%	28.24%	-12.56%

ADVE vs. MCHS - Expense Ratio Comparison

ADVE has a 0.79% expense ratio, which is lower than MCHS's 0.89% expense ratio.

Dividends

ADVE vs. MCHS - Dividend Comparison

ADVE's dividend yield for the trailing twelve months is around 2.46%, which matches MCHS's 2.47% yield.

Position	TTM	2025	2024	2023
ADVE Matthews Asia Dividend Active ETF	2.46%	2.97%	6.00%	0.37%
MCHS Matthews China Discovery Active ETF	2.47%	3.56%	5.48%	0.00%

Frequently Asked Questions

Can I hold both ADVE and MCHS in my portfolio?

ADVE and MCHS have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADVE or MCHS?

MCHS has higher volatility (10.80%) compared to ADVE (5.98%). In terms of maximum drawdown, ADVE dropped -18.41% vs MCHS's -23.75%.

Which ETF is better, ADVE or MCHS?

On 1-year performance, MCHS leads with 74.61% vs 41.86% for ADVE. On fees, ADVE is cheaper at 0.79% per year. On volatility, ADVE has been the lower-risk option at 5.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ADVE or MCHS?

Over the 1-year period, MCHS has performed better with a 74.61% return vs 41.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ADVE or MCHS?

ADVE is cheaper with a 0.79% expense ratio, compared with 0.89% for MCHS.

Which ETF pays a higher dividend yield, ADVE or MCHS?

ADVE and MCHS have nearly identical dividend yields, around 2.46%.

What is the main difference between ADVE and MCHS?

ADVE is categorized as Asia Pacific Equities, while MCHS is China Equities. Their fees differ too: 0.79% for ADVE and 0.89% for MCHS.

Which has better risk-adjusted returns?

MCHS currently has the higher Sharpe Ratio (3.30 vs 2.49), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.