CN vs. MCHS

Last updated Jun 5, 2026

CN (Xtrackers MSCI All China Equity ETF) and MCHS (Matthews China Discovery Active ETF) are both China Equities funds. CN is passively managed, while MCHS is actively managed. At a 0.19 correlation, their price movements are largely independent. CN charges 0.50%/yr vs 0.89%/yr for MCHS.

Performance

CN vs. MCHS - Performance Comparison

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

Returns By Period

CN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MCHS

• 1D: 0.95%
• 1M: 9.15%
• YTD: 45.47%
• 6M: 46.87%
• 1Y: 73.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CN vs. MCHS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	1.55%
MCHS Matthews China Discovery Active ETF	45.47%	31.19%	6.53%

Correlation

The correlation between CN and MCHS is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024	0.19

CN vs. MCHS - Sectors Allocation Comparison

Sectors	CN	MCHS
Financial Services	55.1%	-
Consumer Cyclical	5.4%	12.5%
Industrials	1.0%	32.9%
Energy	0.9%	3.9%
Real Estate	0.8%	3.7%
Healthcare	0.8%	4.4%
Basic Materials	0.6%	9.0%
Communication Services	0.4%	1.2%
Technology	0.3%	31.5%
Consumer Defensive	0.3%	0.8%
Utilities	0.2%	2.1%

Return for Risk

CN 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.

CN vs. MCHS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI All China Equity ETF (CN) 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

	CN	MCHS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.24	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.23	—

Drawdowns

Drawdown Indicators

	CN	MCHS	Difference
Max Drawdown Largest peak-to-trough decline	—	-23.75%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-12.15%	—
Current Drawdown Current decline from peak	—	-2.35%	—
Average Drawdown Average peak-to-trough decline	—	-7.60%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.02%	—

Volatility

Volatility by Period

	CN	MCHS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.81%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.21%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	22.75%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	28.22%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	28.22%	—

CN vs. MCHS - Expense Ratio Comparison

CN has a 0.50% expense ratio, which is lower than MCHS's 0.89% expense ratio.

Dividends

CN vs. MCHS - Dividend Comparison

CN has not paid dividends to shareholders, while MCHS's dividend yield for the trailing twelve months is around 2.45%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	0.00%	4.04%	1.80%	2.00%	0.78%	4.18%	2.09%	0.81%	11.41%	14.00%
MCHS Matthews China Discovery Active ETF	2.45%	3.56%	5.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CN and MCHS in my portfolio?

CN and MCHS have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CN or MCHS?

On fees, CN is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CN or MCHS?

CN is cheaper with a 0.50% expense ratio, compared with 0.89% for MCHS.

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

MCHS has the higher dividend yield at 2.45%, compared with 0.00% for CN.

What is the main difference between CN and MCHS?

They also come from different issuers: Deutsche Bank and Matthews. Their fees differ too: 0.50% for CN and 0.89% for MCHS.