FCA vs. MCHI
Compare and contrast key facts about First Trust China AlphaDEX Fund (FCA) and iShares MSCI China ETF (MCHI).
FCA and MCHI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCA is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX China Index. It was launched on Apr 18, 2011. MCHI is a passively managed fund by iShares that tracks the performance of the MSCI China Index. It was launched on Mar 29, 2011. Both FCA and MCHI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FCA vs. MCHI - Performance Comparison
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FCA vs. MCHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCA First Trust China AlphaDEX Fund | 10.86% | 45.20% | 14.07% | -8.28% | -17.61% | -0.65% | 11.80% | 18.72% | -18.30% | 60.26% |
MCHI iShares MSCI China ETF | -6.48% | 31.04% | 17.73% | -11.94% | -23.01% | -21.74% | 27.78% | 23.72% | -19.79% | 54.67% |
Returns By Period
In the year-to-date period, FCA achieves a 10.86% return, which is significantly higher than MCHI's -6.48% return. Over the past 10 years, FCA has outperformed MCHI with an annualized return of 9.40%, while MCHI has yielded a comparatively lower 4.66% annualized return.
FCA
- 1D
- -0.29%
- 1M
- -7.82%
- YTD
- 10.86%
- 6M
- 8.68%
- 1Y
- 53.93%
- 3Y*
- 17.99%
- 5Y*
- 5.95%
- 10Y*
- 9.40%
MCHI
- 1D
- 2.24%
- 1M
- -4.88%
- YTD
- -6.48%
- 6M
- -13.64%
- 1Y
- 5.57%
- 3Y*
- 6.55%
- 5Y*
- -5.65%
- 10Y*
- 4.66%
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FCA vs. MCHI - Expense Ratio Comparison
FCA has a 0.80% expense ratio, which is higher than MCHI's 0.59% expense ratio.
Return for Risk
FCA vs. MCHI — Risk / Return Rank
FCA
MCHI
FCA vs. MCHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust China AlphaDEX Fund (FCA) 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.
| FCA | MCHI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.07 | 0.23 | +1.84 |
Sortino ratioReturn per unit of downside risk | 2.56 | 0.48 | +2.08 |
Omega ratioGain probability vs. loss probability | 1.38 | 1.06 | +0.31 |
Calmar ratioReturn relative to maximum drawdown | 3.34 | 0.31 | +3.03 |
Martin ratioReturn relative to average drawdown | 15.08 | 0.80 | +14.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FCA | MCHI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 0.23 | +1.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | -0.19 | +0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.17 | +0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 0.09 | +0.04 |
Correlation
The correlation between FCA and MCHI is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
FCA vs. MCHI - Dividend Comparison
FCA's dividend yield for the trailing twelve months is around 2.32%, more than MCHI's 2.26% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCA First Trust China AlphaDEX Fund | 2.32% | 2.67% | 5.17% | 5.70% | 6.00% | 4.91% | 4.12% | 3.73% | 3.10% | 2.30% | 2.51% | 4.13% |
MCHI iShares MSCI China ETF | 2.26% | 2.12% | 2.31% | 2.66% | 1.78% | 1.04% | 1.04% | 1.45% | 1.60% | 1.56% | 1.66% | 2.76% |
Drawdowns
FCA vs. MCHI - Drawdown Comparison
The maximum FCA drawdown since its inception was -45.56%, smaller than the maximum MCHI drawdown of -62.95%. Use the drawdown chart below to compare losses from any high point for FCA and MCHI.
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Drawdown Indicators
| FCA | MCHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.56% | -62.95% | +17.39% |
Max Drawdown (1Y)Largest decline over 1 year | -15.81% | -17.17% | +1.36% |
Max Drawdown (5Y)Largest decline over 5 years | -42.47% | -57.18% | +14.71% |
Max Drawdown (10Y)Largest decline over 10 years | -42.47% | -62.95% | +20.48% |
Current DrawdownCurrent decline from peak | -8.75% | -36.23% | +27.48% |
Average DrawdownAverage peak-to-trough decline | -21.81% | -24.40% | +2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 6.56% | -3.06% |
Volatility
FCA vs. MCHI - Volatility Comparison
First Trust China AlphaDEX Fund (FCA) has a higher volatility of 8.25% compared to iShares MSCI China ETF (MCHI) at 7.34%. This indicates that FCA'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.
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Volatility by Period
| FCA | MCHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.25% | 7.34% | +0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 16.57% | 14.85% | +1.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.19% | 23.85% | +2.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.43% | 30.68% | -3.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.57% | 27.39% | -0.82% |