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GXC vs. TCHI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

GXC vs. TCHI

Last updated Aug 2, 2026
Documentation

GXC (SPDR S&P China ETF) and TCHI (iShares MSCI China Multisector Tech ETF) are both exchange-traded funds - GXC is a China Equities fund tracking the S&P China BMI Index, while TCHI is a Technology Equities fund tracking the MSCI China Technology Sub-Industries Select Capped Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, GXC returned 7.77%/yr vs 9.91%/yr for TCHI. Their correlation of 0.90 means they have usually moved in the same direction. Both charge a 0.59% expense ratio.

Performance

GXC vs. TCHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P China ETF (GXC) and iShares MSCI China Multisector Tech ETF (TCHI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, GXC achieves a -4.85% return, which is significantly lower than TCHI's -0.33% return.

GXC

1D
0.38%
1M
6.09%
6M
-9.74%
YTD
-4.85%
1Y
3.49%
3Y*
7.77%
5Y*
-2.07%
10Y*
4.69%
ALL TIME*
4.93%

TCHI

1D
1.68%
1M
-6.51%
6M
-5.36%
YTD
-0.33%
1Y
15.84%
3Y*
9.91%
5Y*
—
10Y*
—
ALL TIME*
0.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

GXC

SPDR S&P China ETF
$4.07M$2.78M$2.53M

TCHI

iShares MSCI China Multisector Tech ETF
$326.05K$362.33K$397.19K

GXC vs. TCHI - Yearly Performance Comparison

2026 (YTD)2025202420232022
GXC
SPDR S&P China ETF		-4.85%30.84%14.60%-9.93%-21.79%
TCHI
iShares MSCI China Multisector Tech ETF		-0.33%33.13%9.09%-5.61%-24.30%

Correlation

The correlation between GXC and TCHI is 0.80, meaning they have usually moved in the same direction, including during past declines.

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

0.80

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

0.88

Correlation (All Time)
Calculated using the full available price history since Feb 1, 2022

0.90

The correlation between GXC and TCHI shifts across timeframes, from 0.80 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.

GXC vs. TCHI - Sectors Allocation Comparison

Sectors
GXC
TCHI

Consumer Cyclical

20.1%
16.2%

Financial Services

14.9%
0.6%

Communication Services

13.4%
15.8%

Technology

9.6%
52.9%

Industrials

6.8%
10.3%

Healthcare

6.0%

-

Basic Materials

4.5%
0.3%

Energy

2.6%
0.7%

Consumer Defensive

2.5%
2.4%

Real Estate

1.7%

-

Utilities

1.2%

-

Consumer Cyclical

GXC
20.1%
TCHI
16.2%

Financial Services

GXC
14.9%
TCHI
0.6%

Communication Services

GXC
13.4%
TCHI
15.8%

Technology

GXC
9.6%
TCHI
52.9%

Industrials

GXC
6.8%
TCHI
10.3%

Healthcare

GXC
6.0%
TCHI

-

Basic Materials

GXC
4.5%
TCHI
0.3%

Energy

GXC
2.6%
TCHI
0.7%

Consumer Defensive

GXC
2.5%
TCHI
2.4%

Real Estate

GXC
1.7%
TCHI

-

Utilities

GXC
1.2%
TCHI

-

Compare stocks, funds, or ETFs

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

SPDR S&P China ETF

iShares MSCI China Multisector Tech ETF

Often compared with GXC:
GXC vs. MCHIGXC vs. KWEBGXC vs. ASHRGXC vs. SPYGXC vs. FXIGXC vs. CQQQGXC vs. CNYA
Often compared with TCHI:
TCHI vs. CQQQTCHI vs. KWEBTCHI vs. MCHITCHI vs. KTECTCHI vs. MCTS.LTCHI vs. FXITCHI vs. CNYA

Return for Risk

GXC vs. TCHI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
GXC
GXC Risk / Return Rank: 1313
Overall Rank
GXC Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
GXC Sortino Ratio Rank: 1313
Sortino Ratio Rank
GXC Omega Ratio Rank: 1313
Omega Ratio Rank
GXC Calmar Ratio Rank: 1313
Calmar Ratio Rank
GXC Martin Ratio Rank: 1212
Martin Ratio Rank
TCHI
TCHI Risk / Return Rank: 2323
Overall Rank
TCHI Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
TCHI Sortino Ratio Rank: 2323
Sortino Ratio Rank
TCHI Omega Ratio Rank: 2424
Omega Ratio Rank
TCHI Calmar Ratio Rank: 2323
Calmar Ratio Rank
TCHI Martin Ratio Rank: 2020
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.

GXC vs. TCHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P China ETF (GXC) and iShares MSCI China Multisector Tech ETF (TCHI). 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.

GXCTCHIDifference
Sharpe ratioReturn per unit of total volatility
0.10
0.49

-0.38

Sortino ratioReturn per unit of downside risk
0.28
0.86

-0.58

Omega ratioGain probability vs. loss probability

1.03

1.10

-0.07

Calmar ratioReturn relative to maximum drawdown

0.11

0.67

-0.56

Martin ratioReturn relative to average drawdown

0.24

1.40

-1.16

GXC vs. TCHI - Sharpe Ratio Comparison

The current GXC Sharpe Ratio is 0.10, which is lower than the TCHI Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of GXC and TCHI, 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

GXC vs. TCHI - Drawdown Comparison

The maximum GXC drawdown since its inception was -71.96%, which is greater than TCHI's maximum drawdown of -43.96%. Use the drawdown chart below to compare losses from any high point for GXC and TCHI.

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Drawdown Indicators

GXCTCHIDifference

Max Drawdown

Largest peak-to-trough decline

-71.96%

-43.96%

-28.00%

Max Drawdown (1Y)

Largest decline over 1 year

-17.77%

-20.73%

+2.96%

Max Drawdown (3Y)

Largest decline over 3 years

-25.54%

-27.78%

+2.24%

Max Drawdown (5Y)

Largest decline over 5 years

-48.78%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-60.23%

—

—

Current Drawdown

Current decline from peak

-32.76%

-12.79%

-19.97%

Average Drawdown

Average peak-to-trough decline

-28.86%

-20.97%

-7.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.51%

9.94%

-1.43%

Volatility

GXC vs. TCHI - Volatility Comparison

The current volatility for SPDR S&P China ETF (GXC) is 5.39%, while iShares MSCI China Multisector Tech ETF (TCHI) has a volatility of 11.44%. This indicates that GXC experiences smaller price fluctuations and is considered to be less risky than TCHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GXCTCHIDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.39%

11.44%

-6.05%

Volatility (6M)

Calculated over the trailing 6-month period

13.92%

21.41%

-7.49%

Volatility (1Y)

Calculated over the trailing 1-year period

19.44%

28.60%

-9.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

28.70%

34.93%

-6.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.05%

34.93%

-8.88%

GXC vs. TCHI - Expense Ratio Comparison

Both GXC and TCHI have an expense ratio of 0.59%.

Dividends

GXC vs. TCHI - Dividend Comparison

GXC's dividend yield for the trailing twelve months is around 2.18%, less than TCHI's 2.33% yield.

PositionTTM20252024202320222021202020192018201720162015
GXC
SPDR S&P China ETF		2.18%2.40%2.81%3.70%2.67%1.35%1.04%1.60%2.03%1.84%2.05%2.85%
TCHI
iShares MSCI China Multisector Tech ETF		2.33%2.44%2.49%4.28%1.07%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

GXC and TCHI have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TCHI has higher volatility (11.44%) compared to GXC (5.39%). In terms of maximum drawdown, GXC dropped -71.96% vs TCHI's -43.96%.

On 3-year performance, TCHI leads with 9.91% vs 7.77% for GXC. Both ETFs have the same 0.59% expense ratio. On volatility, GXC has been the lower-risk option at 5.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, TCHI has performed better with a 9.91% return vs 7.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

GXC and TCHI have the same expense ratio: 0.59% per year.

TCHI has the higher dividend yield at 2.33%, compared with 2.18% for GXC.

GXC is categorized as China Equities, while TCHI is Technology Equities. GXC tracks S&P China BMI Index, while TCHI tracks MSCI China Technology Sub-Industries Select Capped Index - Benchmark TR Net. They also come from different issuers: State Street and iShares.

TCHI currently has the higher Sharpe Ratio (0.49 vs 0.10), 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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