ASIA vs. MCH

Last updated Aug 4, 2026

ASIA (Matthews Pacific Tiger Active ETF) and MCH (Matthews China Active ETF) are both exchange-traded funds - ASIA is a Asia Pacific Equities fund actively managed by Matthews, while MCH is a China Equities fund actively managed by Matthews. Both are actively managed. Over the past year, ASIA returned 37.96% vs 12.23% for MCH. Their 0.74 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.79% expense ratio.

Performance

ASIA vs. MCH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Pacific Tiger Active ETF (ASIA) and Matthews China Active ETF (MCH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASIA achieves a 18.51% return, which is significantly higher than MCH's -0.74% return.

ASIA

• 1D: 0.03%
• 1M: -4.68%
• 6M: 10.28%
• YTD: 18.51%
• 1Y: 37.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.31%

MCH

• 1D: -0.08%
• 1M: 0.20%
• 6M: -3.93%
• YTD: -0.74%
• 1Y: 12.23%
• 3Y*: 8.53%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.97%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ASIA Matthews Pacific Tiger Active ETF	$106.79K	$177.13K	$195.99K
MCH Matthews China Active ETF	$73.08K	$46.53K	$81.54K

ASIA vs. MCH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ASIA Matthews Pacific Tiger Active ETF	18.51%	32.06%	3.41%	0.01%
MCH Matthews China Active ETF	-0.74%	30.20%	17.32%	-4.99%

Correlation

The correlation between ASIA and MCH is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023	0.74

The correlation between ASIA and MCH has been stable across timeframes, ranging from 0.71 to 0.74 - a consistent structural relationship.

ASIA vs. MCH - Sectors Allocation Comparison

Sectors	ASIA	MCH
Technology	62.1%	13.4%
Financial Services	15.4%	23.4%
Industrials	7.1%	9.5%
Communication Services	4.6%	13.0%
Consumer Cyclical	3.4%	17.9%
Energy	2.4%	0.7%
Healthcare	2.3%	5.7%
Real Estate	1.6%	2.8%
Consumer Defensive	1.1%	0.6%
Basic Materials	1.0%	9.3%
Utilities	-	-

Return for Risk

ASIA vs. MCH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ASIA

ASIA Risk / Return Rank: 54
ASIA Sharpe Ratio Rank: 55
ASIA Sortino Ratio Rank: 49
ASIA Omega Ratio Rank: 58
ASIA Calmar Ratio Rank: 55
ASIA Martin Ratio Rank: 53

MCH

MCH Risk / Return Rank: 24
MCH Sharpe Ratio Rank: 24
MCH Sortino Ratio Rank: 24
MCH Omega Ratio Rank: 24
MCH Calmar Ratio Rank: 26
MCH Martin Ratio Rank: 25

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ASIA vs. MCH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Pacific Tiger Active ETF (ASIA) and Matthews China Active ETF (MCH). 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.

	ASIA	MCH	Difference
Sharpe ratio: Return per unit of total volatility	1.39	0.56	+0.83
Sortino ratio: Return per unit of downside risk	1.85	0.91	+0.94
Omega ratio: Gain probability vs. loss probability	1.27	1.11	+0.16
Calmar ratio: Return relative to maximum drawdown	2.06	0.82	+1.24
Martin ratio: Return relative to average drawdown	6.55	1.98	+4.57

ASIA vs. MCH - Sharpe Ratio Comparison

The current ASIA Sharpe Ratio is 1.39, which is higher than the MCH Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of ASIA and MCH, 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

ASIA vs. MCH - Drawdown Comparison

The maximum ASIA drawdown since its inception was -23.95%, smaller than the maximum MCH drawdown of -40.53%. Use the drawdown chart below to compare losses from any high point for ASIA and MCH.

Drawdown Indicators

	ASIA	MCH	Difference
Max Drawdown Largest peak-to-trough decline	-23.95%	-40.53%	+16.58%
Max Drawdown (1Y) Largest decline over 1 year	-18.52%	-15.05%	-3.47%
Max Drawdown (3Y) Largest decline over 3 years	—	-30.57%	—
Current Drawdown Current decline from peak	-14.51%	-7.79%	-6.72%
Average Drawdown Average peak-to-trough decline	-5.12%	-18.00%	+12.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.81%	6.20%	-0.39%

Volatility

ASIA vs. MCH - Volatility Comparison

Matthews Pacific Tiger Active ETF (ASIA) has a higher volatility of 9.95% compared to Matthews China Active ETF (MCH) at 7.63%. This indicates that ASIA's price experiences larger fluctuations and is considered to be riskier than MCH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASIA	MCH	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.95%	7.63%	+2.32%
Volatility (6M) Calculated over the trailing 6-month period	25.02%	16.60%	+8.42%
Volatility (1Y) Calculated over the trailing 1-year period	27.46%	21.97%	+5.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.24%	29.40%	-7.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.24%	29.40%	-7.16%

ASIA vs. MCH - Expense Ratio Comparison

Both ASIA and MCH have an expense ratio of 0.79%.

Dividends

ASIA vs. MCH - Dividend Comparison

ASIA's dividend yield for the trailing twelve months is around 0.88%, less than MCH's 1.77% yield.

Position	TTM	2025	2024	2023
ASIA Matthews Pacific Tiger Active ETF	0.88%	1.05%	0.58%	0.12%
MCH Matthews China Active ETF	1.77%	1.76%	1.31%	1.62%

Frequently Asked Questions

Can I hold both ASIA and MCH in my portfolio?

ASIA and MCH have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASIA or MCH?

ASIA has higher volatility (9.95%) compared to MCH (7.63%). In terms of maximum drawdown, ASIA dropped -23.95% vs MCH's -40.53%.

Which ETF is better, ASIA or MCH?

On 1-year performance, ASIA leads with 37.96% vs 12.23% for MCH. Both ETFs have the same 0.79% expense ratio. On volatility, MCH has been the lower-risk option at 7.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ASIA or MCH?

Over the 1-year period, ASIA has performed better with a 37.96% return vs 12.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ASIA or MCH?

ASIA and MCH have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, ASIA or MCH?

MCH has the higher dividend yield at 1.77%, compared with 0.88% for ASIA.

What is the main difference between ASIA and MCH?

ASIA is categorized as Asia Pacific Equities, while MCH is China Equities.

Which has better risk-adjusted returns?

ASIA currently has the higher Sharpe Ratio (1.39 vs 0.56), 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.