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FLCH vs. MCHI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FLCH vs. MCHI

Last updated Aug 2, 2026
Documentation

FLCH (Franklin FTSE China ETF) and MCHI (iShares MSCI China ETF) are both China Equities funds - FLCH tracks the FTSE China RIC Capped Index while MCHI tracks the MSCI China Index. Both are passively managed. Over the past 5 years, FLCH returned -2.03%/yr vs -2.80%/yr for MCHI. Their 0.98 correlation means they have historically moved very closely together. FLCH charges 0.19%/yr vs 0.59%/yr for MCHI.

Performance

FLCH vs. MCHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE China ETF (FLCH) and iShares MSCI China ETF (MCHI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FLCH achieves a -6.16% return, which is significantly higher than MCHI's -6.49% return.

FLCH

1D
0.50%
1M
8.66%
6M
-9.56%
YTD
-6.16%
1Y
1.60%
3Y*
7.92%
5Y*
-2.03%
10Y*
—
ALL TIME*
0.59%

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

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

FLCH

Franklin FTSE China ETF
$3.84M$4.46M$3.18M

MCHI

iShares MSCI China ETF
$148.99M$159.51M$173.67M

FLCH vs. MCHI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FLCH
Franklin FTSE China ETF		-6.16%32.55%18.00%-11.21%-22.74%-20.87%30.09%24.32%-19.52%1.51%
MCHI
iShares MSCI China ETF		-6.49%31.04%17.73%-11.94%-23.01%-21.74%27.78%23.72%-19.79%2.39%

Correlation

The correlation between FLCH and MCHI is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.97

Correlation (3Y)
Balances recent behavior with more history.

0.98

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.99

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2017

0.98

The correlation between FLCH and MCHI has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

FLCH vs. MCHI - Sectors Allocation Comparison

Sectors
FLCH
MCHI

Consumer Cyclical

23.3%
22.4%

Financial Services

19.5%
19.2%

Communication Services

16.8%
19.3%

Technology

9.9%
13.9%

Industrials

8.0%
5.4%

Healthcare

5.9%
5.3%

Basic Materials

5.4%
5.1%

Consumer Defensive

3.5%
2.9%

Energy

3.4%
3.4%

Utilities

2.0%
1.6%

Real Estate

1.6%
1.5%

Consumer Cyclical

FLCH
23.3%
MCHI
22.4%

Financial Services

FLCH
19.5%
MCHI
19.2%

Communication Services

FLCH
16.8%
MCHI
19.3%

Technology

FLCH
9.9%
MCHI
13.9%

Industrials

FLCH
8.0%
MCHI
5.4%

Healthcare

FLCH
5.9%
MCHI
5.3%

Basic Materials

FLCH
5.4%
MCHI
5.1%

Consumer Defensive

FLCH
3.5%
MCHI
2.9%

Energy

FLCH
3.4%
MCHI
3.4%

Utilities

FLCH
2.0%
MCHI
1.6%

Real Estate

FLCH
1.6%
MCHI
1.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Franklin FTSE China ETF

iShares MSCI China ETF

Often compared with FLCH:
FLCH vs. CXSEFLCH vs. KWEBFLCH vs. CNYAFLCH vs. IPACFLCH vs. ASHXFLCH vs. VWOFLCH vs. C024.DE
Often compared with MCHI:
MCHI vs. FXIMCHI vs. KWEBMCHI vs. CQQQMCHI vs. GXCMCHI vs. ASHRMCHI vs. CNYAMCHI vs. VOO

Return for Risk

FLCH vs. MCHI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
FLCH
FLCH Risk / Return Rank: 1111
Overall Rank
FLCH Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
FLCH Sortino Ratio Rank: 1111
Sortino Ratio Rank
FLCH Omega Ratio Rank: 1111
Omega Ratio Rank
FLCH Calmar Ratio Rank: 1111
Calmar Ratio Rank
FLCH Martin Ratio Rank: 1111
Martin Ratio Rank
MCHI
MCHI Risk / Return Rank: 1010
Overall Rank
MCHI Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
MCHI Sortino Ratio Rank: 1010
Sortino Ratio Rank
MCHI Omega Ratio Rank: 1010
Omega Ratio Rank
MCHI Calmar Ratio Rank: 1010
Calmar Ratio Rank
MCHI Martin Ratio Rank: 1010
Martin Ratio Rank
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.

FLCH vs. MCHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE China ETF (FLCH) 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.

FLCHMCHIDifference
Sharpe ratioReturn per unit of total volatility
-0.00
-0.05

+0.05

Sortino ratioReturn per unit of downside risk
0.14
0.08

+0.06

Omega ratioGain probability vs. loss probability

1.02

1.01

+0.01

Calmar ratioReturn relative to maximum drawdown

-0.00

-0.04

+0.04

Martin ratioReturn relative to average drawdown

-0.00

-0.09

+0.09

FLCH vs. MCHI - Sharpe Ratio Comparison

The current FLCH Sharpe Ratio is -0.00, which is higher than the MCHI Sharpe Ratio of -0.05. The chart below compares the historical Sharpe Ratios of FLCH 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.

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Drawdowns

FLCH vs. MCHI - Drawdown Comparison

The maximum FLCH drawdown since its inception was -62.09%, roughly equal to the maximum MCHI drawdown of -62.95%. Use the drawdown chart below to compare losses from any high point for FLCH and MCHI.

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Drawdown Indicators

FLCHMCHIDifference

Max Drawdown

Largest peak-to-trough decline

-62.09%

-62.95%

+0.86%

Max Drawdown (1Y)

Largest decline over 1 year

-21.48%

-23.22%

+1.74%

Max Drawdown (3Y)

Largest decline over 3 years

-25.15%

-25.35%

+0.20%

Max Drawdown (5Y)

Largest decline over 5 years

-50.38%

-51.41%

+1.03%

Max Drawdown (10Y)

Largest decline over 10 years

—

-62.95%

—

Current Drawdown

Current decline from peak

-33.85%

-36.24%

+2.39%

Average Drawdown

Average peak-to-trough decline

-30.63%

-24.67%

-5.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.23%

11.26%

-1.03%

Volatility

FLCH vs. MCHI - Volatility Comparison

Franklin FTSE China ETF (FLCH) has a higher volatility of 5.89% compared to iShares MSCI China ETF (MCHI) at 5.57%. This indicates that FLCH'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

FLCHMCHIDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.89%

5.57%

+0.32%

Volatility (6M)

Calculated over the trailing 6-month period

14.07%

14.73%

-0.66%

Volatility (1Y)

Calculated over the trailing 1-year period

19.91%

20.62%

-0.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.34%

30.41%

-1.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.77%

27.35%

+0.42%

FLCH vs. MCHI - Expense Ratio Comparison

FLCH has a 0.19% expense ratio, which is lower than MCHI's 0.59% expense ratio.

Dividends

FLCH vs. MCHI - Dividend Comparison

FLCH's dividend yield for the trailing twelve months is around 2.31%, more than MCHI's 1.96% yield.

PositionTTM20252024202320222021202020192018201720162015
FLCH
Franklin FTSE China ETF		2.31%2.36%2.87%3.47%2.69%1.48%0.91%1.98%1.92%0.01%0.00%0.00%
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

With a correlation of 0.97, FLCH and MCHI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

FLCH has higher volatility (5.89%) compared to MCHI (5.57%). In terms of maximum drawdown, FLCH dropped -62.09% vs MCHI's -62.95%.

On 5-year performance, FLCH leads with -2.03% vs -2.80% for MCHI. On fees, FLCH is cheaper at 0.19% 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.

Over the 5-year period, FLCH has performed better with a -2.03% return vs -2.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FLCH is cheaper with a 0.19% expense ratio, compared with 0.59% for MCHI.

FLCH has the higher dividend yield at 2.31%, compared with 1.96% for MCHI.

FLCH tracks FTSE China RIC Capped Index, while MCHI tracks MSCI China Index. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.19% for FLCH and 0.59% for MCHI.

FLCH currently has the higher Sharpe Ratio (-0.00 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.

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