JCHI vs. MCHS

Last updated Apr 2, 2026

Compare and contrast key facts about JPMorgan Active China ETF (JCHI) and Matthews China Discovery Active ETF (MCHS).

JCHI and MCHS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JCHI is an actively managed fund by JPMorgan. It was launched on Mar 15, 2023. MCHS is an actively managed fund by Matthews. It was launched on Jan 10, 2024.

Performance

JCHI vs. MCHS - Performance Comparison

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

JCHI vs. MCHS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JCHI JPMorgan Active China ETF	-4.46%	27.66%	19.46%
MCHS Matthews China Discovery Active ETF	13.36%	31.19%	6.53%

Returns By Period

In the year-to-date period, JCHI achieves a -4.46% return, which is significantly lower than MCHS's 13.36% return.

JCHI

• 1D: 0.61%
• 1M: -4.41%
• YTD: -4.46%
• 6M: -11.12%
• 1Y: 9.44%
• 3Y*: 3.21%
• 5Y*: —
• 10Y*: —

MCHS

• 1D: 2.32%
• 1M: -9.45%
• YTD: 13.36%
• 6M: 9.20%
• 1Y: 35.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

JCHI vs. MCHS - Expense Ratio Comparison

JCHI has a 0.65% expense ratio, which is lower than MCHS's 0.89% expense ratio.

MCHS

Matthews China Discovery Active ETF

JCHI

JPMorgan Active China ETF

Return for Risk

JCHI vs. MCHS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JCHI

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

MCHS

MCHS Risk / Return Rank: 73
MCHS Sharpe Ratio Rank: 73
MCHS Sortino Ratio Rank: 73
MCHS Omega Ratio Rank: 73
MCHS Calmar Ratio Rank: 75
MCHS Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JCHI vs. MCHS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Active China ETF (JCHI) and Matthews China Discovery Active ETF (MCHS). 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.

	JCHI	MCHS	Difference
Sharpe ratio Return per unit of total volatility	0.46	1.37	-0.92
Sortino ratio Return per unit of downside risk	0.74	1.94	-1.21
Omega ratio Gain probability vs. loss probability	1.10	1.29	-0.19
Calmar ratio Return relative to maximum drawdown	0.57	2.23	-1.66
Martin ratio Return relative to average drawdown	1.66	8.17	-6.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JCHI vs. MCHS - Sharpe Ratio Comparison

The current JCHI Sharpe Ratio is 0.46, which is lower than the MCHS Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of JCHI and MCHS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JCHI	MCHS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.46	1.37	-0.92
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.83	-0.64

Correlation

The correlation between JCHI and MCHS is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

JCHI vs. MCHS - Dividend Comparison

JCHI's dividend yield for the trailing twelve months is around 1.89%, less than MCHS's 3.14% yield.

	TTM	2025	2024	2023
JCHI JPMorgan Active China ETF	1.89%	1.81%	2.12%	2.13%
MCHS Matthews China Discovery Active ETF	3.14%	3.56%	5.48%	0.00%

Drawdowns

JCHI vs. MCHS - Drawdown Comparison

The maximum JCHI drawdown since its inception was -29.57%, which is greater than MCHS's maximum drawdown of -23.75%. Use the drawdown chart below to compare losses from any high point for JCHI and MCHS.

Drawdown Indicators

	JCHI	MCHS	Difference
Max Drawdown Largest peak-to-trough decline	-29.57%	-23.75%	-5.82%
Max Drawdown (1Y) Largest decline over 1 year	-15.93%	-15.89%	-0.04%
Current Drawdown Current decline from peak	-11.98%	-9.45%	-2.53%
Average Drawdown Average peak-to-trough decline	-13.67%	-7.98%	-5.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.64%	4.34%	+1.30%

Volatility

JCHI vs. MCHS - Volatility Comparison

The current volatility for JPMorgan Active China ETF (JCHI) is 5.77%, while Matthews China Discovery Active ETF (MCHS) has a volatility of 7.12%. This indicates that JCHI experiences smaller price fluctuations and is considered to be less risky than MCHS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JCHI	MCHS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.77%	7.12%	-1.35%
Volatility (6M) Calculated over the trailing 6-month period	12.55%	15.31%	-2.76%
Volatility (1Y) Calculated over the trailing 1-year period	20.80%	25.73%	-4.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.16%	27.87%	-2.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.16%	27.87%	-2.71%