CAS vs. MCHS

Last updated Jun 4, 2026

CAS (Simplify China A Shares PLUS Income ETF) and MCHS (Matthews China Discovery Active ETF) are both China Equities funds. Both are actively managed. With a 1.00 correlation, they move nearly in lockstep. CAS charges 0.88%/yr vs 0.89%/yr for MCHS.

Performance

CAS vs. MCHS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify China A Shares PLUS Income ETF (CAS) and Matthews China Discovery Active ETF (MCHS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CAS

• 1D: -0.49%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 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)

CAS vs. MCHS - Yearly Performance Comparison

	2026 (YTD)
CAS Simplify China A Shares PLUS Income ETF	-1.66%
MCHS Matthews China Discovery Active ETF	-3.05%

Correlation

The correlation between CAS and MCHS is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	1.00

CAS vs. MCHS - Sectors Allocation Comparison

Sectors	CAS	MCHS
Financial Services	43.4%	-
Basic Materials	-	9.0%
Communication Services	-	1.2%
Consumer Cyclical	-	12.5%
Consumer Defensive	-	0.8%
Energy	-	3.9%
Healthcare	-	4.4%
Industrials	-	32.9%
Real Estate	-	3.7%
Technology	-	31.5%
Utilities	-	2.1%

Return for Risk

CAS vs. MCHS — Risk / Return Rank

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

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.

CAS vs. MCHS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify China A Shares PLUS Income ETF (CAS) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CAS	MCHS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.30	—
Sharpe Ratio (All Time) Calculated using the full available price history	-3.61	1.21	-4.82

Drawdowns

CAS vs. MCHS - Drawdown Comparison

The maximum CAS drawdown since its inception was -2.59%, smaller than the maximum MCHS drawdown of -23.75%. Use the drawdown chart below to compare losses from any high point for CAS and MCHS.

Drawdown Indicators

	CAS	MCHS	Difference
Max Drawdown Largest peak-to-trough decline	-2.59%	-23.75%	+21.16%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.15%	—
Current Drawdown Current decline from peak	-1.66%	-3.27%	+1.61%
Average Drawdown Average peak-to-trough decline	-1.72%	-7.61%	+5.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.02%	—

Volatility

Volatility by Period

	CAS	MCHS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.80%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	20.83%	22.74%	-1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.83%	28.24%	-7.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.83%	28.24%	-7.41%

CAS vs. MCHS - Expense Ratio Comparison

CAS has a 0.88% expense ratio, which is lower than MCHS's 0.89% expense ratio.

Dividends

CAS vs. MCHS - Dividend Comparison

CAS has not paid dividends to shareholders, while MCHS's dividend yield for the trailing twelve months is around 2.47%.

Position	TTM	2025	2024
CAS Simplify China A Shares PLUS Income ETF	0.00%	0.00%	0.00%
MCHS Matthews China Discovery Active ETF	2.47%	3.56%	5.48%

Frequently Asked Questions

Can I hold both CAS and MCHS in my portfolio?

With a correlation of 1.00, CAS and MCHS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, CAS or MCHS?

On fees, CAS is cheaper at 0.88% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAS or MCHS?

CAS is cheaper with a 0.88% expense ratio, compared with 0.89% for MCHS.

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

MCHS has the higher dividend yield at 2.47%, compared with 0.00% for CAS.

What is the main difference between CAS and MCHS?

They also come from different issuers: Simplify and Matthews. Their fees differ too: 0.88% for CAS and 0.89% for MCHS.