CNYA vs. MCHS

Last updated Apr 2, 2026

Compare and contrast key facts about iShares MSCI China A ETF (CNYA) and Matthews China Discovery Active ETF (MCHS).

CNYA and MCHS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CNYA is a passively managed fund by iShares that tracks the performance of the MSCI China A Inclusion Index. It was launched on Jun 13, 2016. MCHS is an actively managed fund by Matthews. It was launched on Jan 10, 2024.

Performance

CNYA vs. MCHS - Performance Comparison

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

CNYA vs. MCHS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CNYA iShares MSCI China A ETF	-0.93%	26.48%	16.51%
MCHS Matthews China Discovery Active ETF	13.36%	31.19%	6.53%

Returns By Period

In the year-to-date period, CNYA achieves a -0.93% return, which is significantly lower than MCHS's 13.36% return.

CNYA

• 1D: 0.23%
• 1M: -5.18%
• YTD: -0.93%
• 6M: 1.32%
• 1Y: 25.22%
• 3Y*: 4.59%
• 5Y*: -1.42%
• 10Y*: —

MCHS

• 1D: 2.32%
• 1M: -9.45%
• YTD: 13.36%
• 6M: 9.20%
• 1Y: 35.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CNYA vs. MCHS - Expense Ratio Comparison

CNYA has a 0.60% expense ratio, which is lower than MCHS's 0.89% expense ratio.

MCHS

Matthews China Discovery Active ETF

CNYA

iShares MSCI China A ETF

Return for Risk

CNYA vs. MCHS — Risk / Return Rank

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

CNYA

CNYA Risk / Return Rank: 74
CNYA Sharpe Ratio Rank: 73
CNYA Sortino Ratio Rank: 71
CNYA Omega Ratio Rank: 71
CNYA Calmar Ratio Rank: 77
CNYA Martin Ratio Rank: 80

MCHS

MCHS Risk / Return Rank: 73
MCHS Sharpe Ratio Rank: 73
MCHS Sortino Ratio Rank: 73
MCHS Omega Ratio Rank: 73
MCHS Calmar Ratio Rank: 75
MCHS Martin Ratio Rank: 71

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.

CNYA vs. MCHS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China A ETF (CNYA) 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.

	CNYA	MCHS	Difference
Sharpe ratio Return per unit of total volatility	1.34	1.37	-0.03
Sortino ratio Return per unit of downside risk	1.84	1.94	-0.11
Omega ratio Gain probability vs. loss probability	1.27	1.29	-0.02
Calmar ratio Return relative to maximum drawdown	2.15	2.23	-0.08
Martin ratio Return relative to average drawdown	9.28	8.17	+1.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CNYA vs. MCHS - Sharpe Ratio Comparison

The current CNYA Sharpe Ratio is 1.34, which is comparable to the MCHS Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of CNYA and MCHS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CNYA	MCHS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	1.37	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.06	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.83	-0.60

Correlation

The correlation between CNYA and MCHS is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CNYA vs. MCHS - Dividend Comparison

CNYA's dividend yield for the trailing twelve months is around 1.93%, less than MCHS's 3.14% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CNYA iShares MSCI China A ETF	1.93%	1.92%	2.51%	4.23%	2.69%	1.11%	1.06%	1.21%	3.92%	0.97%	1.38%
MCHS Matthews China Discovery Active ETF	3.14%	3.56%	5.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

CNYA vs. MCHS - Drawdown Comparison

The maximum CNYA drawdown since its inception was -49.49%, which is greater than MCHS's maximum drawdown of -23.75%. Use the drawdown chart below to compare losses from any high point for CNYA and MCHS.

Drawdown Indicators

	CNYA	MCHS	Difference
Max Drawdown Largest peak-to-trough decline	-49.49%	-23.75%	-25.74%
Max Drawdown (1Y) Largest decline over 1 year	-11.47%	-15.89%	+4.42%
Max Drawdown (5Y) Largest decline over 5 years	-45.11%	—	—
Current Drawdown Current decline from peak	-21.52%	-9.45%	-12.07%
Average Drawdown Average peak-to-trough decline	-20.77%	-7.98%	-12.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	4.34%	-1.67%

Volatility

CNYA vs. MCHS - Volatility Comparison

The current volatility for iShares MSCI China A ETF (CNYA) is 4.99%, while Matthews China Discovery Active ETF (MCHS) has a volatility of 7.12%. This indicates that CNYA 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

	CNYA	MCHS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.99%	7.12%	-2.13%
Volatility (6M) Calculated over the trailing 6-month period	11.62%	15.31%	-3.69%
Volatility (1Y) Calculated over the trailing 1-year period	18.85%	25.73%	-6.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.71%	27.87%	-4.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.60%	27.87%	-4.27%