CNQQ vs. MCHI

Last updated Jun 24, 2026

CNQQ (Rayliant-ChinaAMC Transformative China Tech ETF) and MCHI (iShares MSCI China ETF) are both China Equities funds - CNQQ tracks the Solactive ChinaAMC Transformative China Tech while MCHI tracks the MSCI China Index. Both are passively managed. Their correlation of 0.82 suggests significant overlap in exposure. CNQQ charges 0.75%/yr vs 0.59%/yr for MCHI.

Performance

CNQQ vs. MCHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rayliant-ChinaAMC Transformative China Tech ETF (CNQQ) and iShares MSCI China ETF (MCHI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNQQ achieves a 10.04% return, which is significantly higher than MCHI's -13.18% return.

CNQQ

• 1D: -3.47%
• 1M: 1.11%
• YTD: 10.04%
• 6M: 9.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MCHI

• 1D: -1.99%
• 1M: -6.10%
• YTD: -13.18%
• 6M: -14.04%
• 1Y: -2.47%
• 3Y*: 8.17%
• 5Y*: -6.80%
• 10Y*: 4.30%

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

CNQQ vs. MCHI - Yearly Performance Comparison

	2026 (YTD)	2025
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF	10.04%	-5.22%
MCHI iShares MSCI China ETF	-13.18%	-6.11%

Correlation

The correlation between CNQQ and MCHI is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 26, 2025	0.82

Return for Risk

CNQQ vs. MCHI — Risk / Return Rank

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

CNQQ

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

MCHI

MCHI Risk / Return Rank: 7
MCHI Sharpe Ratio Rank: 8
MCHI Sortino Ratio Rank: 7
MCHI Omega Ratio Rank: 7
MCHI Calmar Ratio Rank: 8
MCHI Martin Ratio Rank: 7

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.

CNQQ vs. MCHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rayliant-ChinaAMC Transformative China Tech ETF (CNQQ) and iShares MSCI China ETF (MCHI). 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.

	CNQQ	MCHI	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.12	—
Sortino ratio: Return per unit of downside risk	—	-0.03	—
Omega ratio: Gain probability vs. loss probability	—	1.00	—
Calmar ratio: Return relative to maximum drawdown	—	-0.12	—
Martin ratio: Return relative to average drawdown	—	-0.27	—

Drawdowns

CNQQ vs. MCHI - Drawdown Comparison

The maximum CNQQ drawdown since its inception was -17.82%, smaller than the maximum MCHI drawdown of -62.95%. Use the drawdown chart below to compare losses from any high point for CNQQ and MCHI.

Drawdown Indicators

	CNQQ	MCHI	Difference
Max Drawdown Largest peak-to-trough decline	-17.82%	-62.95%	+45.13%
Max Drawdown (1Y) Largest decline over 1 year	—	-21.20%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-25.85%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-56.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-62.95%	—
Current Drawdown Current decline from peak	-3.47%	-40.80%	+37.33%
Average Drawdown Average peak-to-trough decline	-8.81%	-24.56%	+15.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.28%	—

Volatility

Volatility by Period

	CNQQ	MCHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.90%	—
Volatility (1Y) Calculated over the trailing 1-year period	25.33%	20.31%	+5.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.33%	30.75%	-5.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.33%	27.35%	-2.02%

CNQQ vs. MCHI - Expense Ratio Comparison

CNQQ has a 0.75% expense ratio, which is higher than MCHI's 0.59% expense ratio.

Dividends

CNQQ vs. MCHI - Dividend Comparison

CNQQ's dividend yield for the trailing twelve months is around 0.23%, less than MCHI's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF	0.23%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MCHI iShares MSCI China ETF	2.12%	2.12%	2.31%	2.66%	1.78%	1.04%	1.04%	1.45%	1.60%	1.56%	1.66%	2.76%

Frequently Asked Questions

Can I hold both CNQQ and MCHI in my portfolio?

CNQQ and MCHI have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CNQQ or MCHI?

On fees, MCHI is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CNQQ or MCHI?

MCHI is cheaper with a 0.59% expense ratio, compared with 0.75% for CNQQ.

Which ETF pays a higher dividend yield, CNQQ or MCHI?

MCHI has the higher dividend yield at 2.12%, compared with 0.23% for CNQQ.

What is the main difference between CNQQ and MCHI?

CNQQ tracks Solactive ChinaAMC Transformative China Tech, while MCHI tracks MSCI China Index. They also come from different issuers: Rayliant and iShares. Their fees differ too: 0.75% for CNQQ and 0.59% for MCHI.