JCHI vs. FCA

Last updated Aug 5, 2026

JCHI (JPMorgan Active China ETF) and FCA (First Trust China AlphaDEX Fund) are both China Equities funds. JCHI is actively managed, while FCA is passively managed. Over the past 3 years, JCHI returned 7.41%/yr vs 14.69%/yr for FCA. Their 0.69 correlation means they have sometimes moved together and sometimes differently. JCHI charges 0.65%/yr vs 0.80%/yr for FCA.

Performance

JCHI vs. FCA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Active China ETF (JCHI) and First Trust China AlphaDEX Fund (FCA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JCHI achieves a 1.36% return, which is significantly higher than FCA's -1.57% return.

JCHI

• 1D: 0.69%
• 1M: 7.15%
• 6M: -0.52%
• YTD: 1.36%
• 1Y: 11.12%
• 3Y*: 7.41%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.98%

FCA

• 1D: 0.98%
• 1M: 3.05%
• 6M: -13.15%
• YTD: -1.57%
• 1Y: 9.90%
• 3Y*: 14.69%
• 5Y*: 2.87%
• 10Y*: 7.74%
• ALL TIME*: 2.82%

*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)
FCA First Trust China AlphaDEX Fund	$214.04K	$288.40K	$1.96M
JCHI JPMorgan Active China ETF	$32.72K	$34.73K	$39.41K

JCHI vs. FCA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JCHI JPMorgan Active China ETF	1.36%	27.66%	13.77%	-17.31%
FCA First Trust China AlphaDEX Fund	-1.57%	45.20%	14.07%	-10.08%

Correlation

The correlation between JCHI and FCA is 0.64, 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.	0.64
Correlation (3Y) Balances recent behavior with more history.	0.68
Correlation (All Time) Calculated using the full available price history since Mar 16, 2023	0.69

The correlation between JCHI and FCA has been stable across timeframes, ranging from 0.64 to 0.69 - a consistent structural relationship.

Return for Risk

JCHI vs. FCA — Risk / Return Rank

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

JCHI

JCHI Risk / Return Rank: 23
JCHI Sharpe Ratio Rank: 24
JCHI Sortino Ratio Rank: 23
JCHI Omega Ratio Rank: 23
JCHI Calmar Ratio Rank: 23
JCHI Martin Ratio Rank: 21

FCA

FCA Risk / Return Rank: 18
FCA Sharpe Ratio Rank: 19
FCA Sortino Ratio Rank: 18
FCA Omega Ratio Rank: 19
FCA Calmar Ratio Rank: 17
FCA Martin Ratio Rank: 18

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.

JCHI vs. FCA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Active China ETF (JCHI) and First Trust China AlphaDEX Fund (FCA). 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.

	JCHI	FCA	Difference
Sharpe ratio: Return per unit of total volatility	0.60	0.43	+0.17
Sortino ratio: Return per unit of downside risk	0.94	0.71	+0.23
Omega ratio: Gain probability vs. loss probability	1.12	1.09	+0.03
Calmar ratio: Return relative to maximum drawdown	0.78	0.41	+0.36
Martin ratio: Return relative to average drawdown	1.55	1.16	+0.40

JCHI vs. FCA - Sharpe Ratio Comparison

The current JCHI Sharpe Ratio is 0.60, which is higher than the FCA Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of JCHI and FCA, 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

JCHI vs. FCA - Drawdown Comparison

The maximum JCHI drawdown since its inception was -29.57%, smaller than the maximum FCA drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for JCHI and FCA.

Drawdown Indicators

	JCHI	FCA	Difference
Max Drawdown Largest peak-to-trough decline	-29.57%	-45.56%	+15.99%
Max Drawdown (1Y) Largest decline over 1 year	-14.37%	-24.11%	+9.74%
Max Drawdown (3Y) Largest decline over 3 years	-27.47%	-26.13%	-1.34%
Max Drawdown (5Y) Largest decline over 5 years	—	-42.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.47%	—
Current Drawdown Current decline from peak	-6.61%	-19.58%	+12.97%
Average Drawdown Average peak-to-trough decline	-13.15%	-21.60%	+8.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.17%	8.56%	-1.39%

Volatility

JCHI vs. FCA - Volatility Comparison

The current volatility for JPMorgan Active China ETF (JCHI) is 5.44%, while First Trust China AlphaDEX Fund (FCA) has a volatility of 5.76%. This indicates that JCHI experiences smaller price fluctuations and is considered to be less risky than FCA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JCHI	FCA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.44%	5.76%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	13.77%	17.66%	-3.89%
Volatility (1Y) Calculated over the trailing 1-year period	18.80%	23.35%	-4.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.66%	27.76%	-3.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.66%	26.75%	-2.09%

JCHI vs. FCA - Expense Ratio Comparison

JCHI has a 0.65% expense ratio, which is lower than FCA's 0.80% expense ratio.

Dividends

JCHI vs. FCA - Dividend Comparison

JCHI's dividend yield for the trailing twelve months is around 1.79%, less than FCA's 2.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCA First Trust China AlphaDEX Fund	2.87%	2.67%	5.17%	5.70%	6.00%	4.91%	4.12%	3.73%	3.10%	2.30%	2.51%	4.13%
JCHI JPMorgan Active China ETF	1.79%	1.81%	2.12%	2.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JCHI and FCA in my portfolio?

JCHI and FCA have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JCHI or FCA?

FCA has higher volatility (5.76%) compared to JCHI (5.44%). In terms of maximum drawdown, JCHI dropped -29.57% vs FCA's -45.56%.

Which ETF is better, JCHI or FCA?

On 3-year performance, FCA leads with 14.69% vs 7.41% for JCHI. On fees, JCHI is cheaper at 0.65% per year. On volatility, JCHI has been the lower-risk option at 5.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JCHI or FCA?

Over the 3-year period, FCA has performed better with a 14.69% return vs 7.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JCHI or FCA?

JCHI is cheaper with a 0.65% expense ratio, compared with 0.80% for FCA.

Which ETF pays a higher dividend yield, JCHI or FCA?

FCA has the higher dividend yield at 2.87%, compared with 1.79% for JCHI.

What is the main difference between JCHI and FCA?

They also come from different issuers: JPMorgan and First Trust. Their fees differ too: 0.65% for JCHI and 0.80% for FCA.

Which has better risk-adjusted returns?

JCHI currently has the higher Sharpe Ratio (0.60 vs 0.43), 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.