HCM vs. MCHI
HCM (HUTCHMED (China) Limited) is a stock, while MCHI (iShares MSCI China ETF) is China Equities fund tracking the MSCI China Index. Over the past 10 years, HCM returned -1.61%/yr vs 4.22%/yr for MCHI. Their 0.40 correlation means their historical movements had little consistent relationship.
Performance
HCM vs. MCHI - Performance Comparison
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Returns By Period
In the year-to-date period, HCM achieves a -16.50% return, which is significantly lower than MCHI's -6.49% return. Over the past 10 years, HCM has underperformed MCHI with an annualized return of -1.61%, while MCHI has yielded a comparatively higher 4.22% annualized return.
HCM
- 1D
- 3.34%
- 1M
- -2.71%
- 6M
- -25.80%
- YTD
- -16.50%
- 1Y
- -35.55%
- 3Y*
- -9.83%
- 5Y*
- -23.34%
- 10Y*
- -1.61%
- ALL TIME*
- -1.84%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $548.11K | $557.29K | $576.81K | |
| $148.99M | $159.51M | $173.67M |
HCM vs. MCHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HCM HUTCHMED (China) Limited | -16.50% | -7.49% | -20.43% | 22.53% | -57.87% | 9.56% | 27.72% | 8.58% | -41.43% | 190.49% |
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 HCM and MCHI is 0.40, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.40 |
Correlation (3Y) Balances recent behavior with more history. | 0.48 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.50 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.41 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2016 | 0.40 |
The correlation between HCM and MCHI shifts across timeframes, from 0.40 (all time) to 0.50 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HCM vs. MCHI — Risk / Return Rank
HCM
MCHI
HCM vs. MCHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HUTCHMED (China) Limited (HCM) 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.
| HCM | MCHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.55 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.01 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.84 | -0.04 | -0.80 |
| Martin ratioReturn relative to average drawdown | -1.56 | -0.09 | -1.47 |
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Drawdowns
HCM vs. MCHI - Drawdown Comparison
The maximum HCM drawdown since its inception was -82.18%, which is greater than MCHI's maximum drawdown of -62.95%. Use the drawdown chart below to compare losses from any high point for HCM and MCHI.
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Drawdown Indicators
| HCM | MCHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.18% | -62.95% | -19.23% |
Max Drawdown (1Y)Largest decline over 1 year | -44.50% | -23.22% | -21.28% |
Max Drawdown (3Y)Largest decline over 3 years | -54.13% | -25.35% | -28.78% |
Max Drawdown (5Y)Largest decline over 5 years | -82.18% | -51.41% | -30.77% |
Max Drawdown (10Y)Largest decline over 10 years | -82.18% | -62.95% | -19.23% |
Current DrawdownCurrent decline from peak | -74.08% | -36.24% | -37.84% |
Average DrawdownAverage peak-to-trough decline | -40.66% | -24.67% | -15.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.95% | 11.26% | +12.69% |
Volatility
HCM vs. MCHI - Volatility Comparison
HUTCHMED (China) Limited (HCM) has a higher volatility of 14.21% compared to iShares MSCI China ETF (MCHI) at 5.57%. This indicates that HCM'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
| HCM | MCHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.21% | 5.57% | +8.64% |
Volatility (6M)Calculated over the trailing 6-month period | 25.10% | 14.73% | +10.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.29% | 20.62% | +16.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 64.56% | 30.41% | +34.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.44% | 27.35% | +32.09% |
Dividends
HCM vs. MCHI - Dividend Comparison
HCM has not paid dividends to shareholders, while MCHI's dividend yield for the trailing twelve months is around 1.96%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HCM HUTCHMED (China) Limited | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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
HCM and MCHI have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HCM has higher volatility (14.21%) compared to MCHI (5.57%). In terms of maximum drawdown, HCM dropped -82.18% vs MCHI's -62.95%.
MCHI currently has the higher Sharpe Ratio (-0.05 vs -1.01), 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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