EEMV vs. MCHI

Last updated Aug 2, 2026

EEMV (iShares MSCI Emerging Markets Min Vol Factor ETF) and MCHI (iShares MSCI China ETF) are both exchange-traded funds - EEMV is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Minimum Volatility Index, while MCHI is a China Equities fund tracking the MSCI China Index. Both are passively managed. Over the past 10 years, EEMV returned 5.71%/yr vs 4.22%/yr for MCHI. Their 0.77 correlation means they have sometimes moved together and sometimes differently. EEMV charges 0.25%/yr vs 0.59%/yr for MCHI.

Performance

EEMV vs. MCHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) 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, EEMV achieves a 12.46% return, which is significantly higher than MCHI's -6.49% return. Over the past 10 years, EEMV has outperformed MCHI with an annualized return of 5.71%, while MCHI has yielded a comparatively lower 4.22% annualized return.

EEMV

• 1D: -0.38%
• 1M: -2.94%
• 6M: 7.78%
• YTD: 12.46%
• 1Y: 18.06%
• 3Y*: 11.41%
• 5Y*: 5.62%
• 10Y*: 5.71%
• ALL TIME*: 5.22%

MCHI

• 1D: 0.54%
• 1M: 9.61%
• 6M: -9.98%
• YTD: -6.49%
• 1Y: 0.60%
• 3Y*: 7.33%
• 5Y*: -2.80%
• 10Y*: 4.22%
• ALL TIME*: 2.49%

*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)
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF	$16.28M	$14.89M	$17.73M
MCHI iShares MSCI China ETF	$148.99M	$159.51M	$173.67M

EEMV vs. MCHI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF	12.46%	13.45%	7.98%	7.75%	-13.94%	5.05%	6.90%	7.83%	-5.81%	27.28%
MCHI iShares MSCI China ETF	-6.49%	31.04%	17.73%	-11.94%	-23.01%	-21.74%	27.78%	23.72%	-19.79%	54.67%

Correlation

The correlation between EEMV and MCHI is 0.56, 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.	0.56
Correlation (3Y) Balances recent behavior with more history.	0.63
Correlation (5Y) Shows whether the relationship held over a longer period.	0.69
Correlation (10Y) Provides a long-term view across more market conditions.	0.77
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.77

Over the past year, the correlation between EEMV and MCHI has dropped to 0.56 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

EEMV vs. MCHI - Sectors Allocation Comparison

Sectors	EEMV	MCHI
Technology	37.4%	13.9%
Financial Services	18.3%	19.2%
Communication Services	10.0%	19.3%
Consumer Cyclical	6.7%	22.4%
Industrials	5.8%	5.4%
Healthcare	5.5%	5.3%
Consumer Defensive	5.4%	2.9%
Utilities	4.2%	1.6%
Energy	3.5%	3.4%
Basic Materials	2.6%	5.1%
Real Estate	0.6%	1.5%

Return for Risk

EEMV vs. MCHI — Risk / Return Rank

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

EEMV

EEMV Risk / Return Rank: 48
EEMV Sharpe Ratio Rank: 44
EEMV Sortino Ratio Rank: 43
EEMV Omega Ratio Rank: 49
EEMV Calmar Ratio Rank: 53
EEMV Martin Ratio Rank: 49

MCHI

MCHI Risk / Return Rank: 10
MCHI Sharpe Ratio Rank: 10
MCHI Sortino Ratio Rank: 10
MCHI Omega Ratio Rank: 10
MCHI Calmar Ratio Rank: 10
MCHI Martin Ratio Rank: 10

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.

EEMV vs. MCHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) 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.

	EEMV	MCHI	Difference
Sharpe ratio: Return per unit of total volatility	1.10	-0.05	+1.15
Sortino ratio: Return per unit of downside risk	1.57	0.08	+1.49
Omega ratio: Gain probability vs. loss probability	1.22	1.01	+0.21
Calmar ratio: Return relative to maximum drawdown	1.90	-0.04	+1.95
Martin ratio: Return relative to average drawdown	5.72	-0.09	+5.80

EEMV vs. MCHI - Sharpe Ratio Comparison

The current EEMV Sharpe Ratio is 1.10, which is higher than the MCHI Sharpe Ratio of -0.05. The chart below compares the historical Sharpe Ratios of EEMV and MCHI, 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

EEMV vs. MCHI - Drawdown Comparison

The maximum EEMV drawdown since its inception was -31.56%, smaller than the maximum MCHI drawdown of -62.95%. Use the drawdown chart below to compare losses from any high point for EEMV and MCHI.

Drawdown Indicators

	EEMV	MCHI	Difference
Max Drawdown Largest peak-to-trough decline	-31.56%	-62.95%	+31.39%
Max Drawdown (1Y) Largest decline over 1 year	-9.50%	-23.22%	+13.72%
Max Drawdown (3Y) Largest decline over 3 years	-12.47%	-25.35%	+12.88%
Max Drawdown (5Y) Largest decline over 5 years	-21.90%	-51.41%	+29.51%
Max Drawdown (10Y) Largest decline over 10 years	-31.56%	-62.95%	+31.39%
Current Drawdown Current decline from peak	-7.20%	-36.24%	+29.04%
Average Drawdown Average peak-to-trough decline	-7.94%	-24.67%	+16.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	11.26%	-8.10%

Volatility

EEMV vs. MCHI - Volatility Comparison

iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) has a higher volatility of 6.49% compared to iShares MSCI China ETF (MCHI) at 5.57%. This indicates that EEMV's price experiences larger fluctuations and is considered to be riskier than MCHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEMV	MCHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.49%	5.57%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	15.49%	14.73%	+0.76%
Volatility (1Y) Calculated over the trailing 1-year period	16.51%	20.62%	-4.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.61%	30.41%	-17.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.06%	27.35%	-13.29%

EEMV vs. MCHI - Expense Ratio Comparison

EEMV has a 0.25% expense ratio, which is lower than MCHI's 0.59% expense ratio.

Dividends

EEMV vs. MCHI - Dividend Comparison

EEMV's dividend yield for the trailing twelve months is around 2.27%, more than MCHI's 1.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF	2.27%	2.65%	3.50%	2.75%	1.93%	2.14%	2.45%	2.63%	2.46%	2.34%	2.79%	2.55%
MCHI iShares MSCI China ETF	1.96%	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 EEMV and MCHI in my portfolio?

EEMV and MCHI have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EEMV or MCHI?

EEMV has higher volatility (6.49%) compared to MCHI (5.57%). In terms of maximum drawdown, EEMV dropped -31.56% vs MCHI's -62.95%.

Which ETF is better, EEMV or MCHI?

On 10-year performance, EEMV leads with 5.71% vs 4.22% for MCHI. On fees, EEMV is cheaper at 0.25% per year. On volatility, MCHI has been the lower-risk option at 5.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EEMV or MCHI?

Over the 10-year period, EEMV has performed better with a 5.71% return vs 4.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EEMV or MCHI?

EEMV is cheaper with a 0.25% expense ratio, compared with 0.59% for MCHI.

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

EEMV has the higher dividend yield at 2.27%, compared with 1.96% for MCHI.

What is the main difference between EEMV and MCHI?

EEMV is categorized as Emerging Markets Equities, while MCHI is China Equities. EEMV tracks MSCI Emerging Markets Minimum Volatility Index, while MCHI tracks MSCI China Index. Their fees differ too: 0.25% for EEMV and 0.59% for MCHI.

Which has better risk-adjusted returns?

EEMV currently has the higher Sharpe Ratio (1.10 vs -0.05), 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.