MAGC vs. GXC

Last updated Jun 24, 2026

MAGC (Roundhill China Magnificent Seven ETF) and GXC (SPDR S&P China ETF) are both China Equities funds. MAGC is actively managed, while GXC is passively managed. Over the past year, MAGC returned -29.25% vs 4.52% for GXC. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.59% expense ratio.

Performance

MAGC vs. GXC - Performance Comparison

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

Returns By Period

In the year-to-date period, MAGC achieves a -28.24% return, which is significantly lower than GXC's -8.73% return.

MAGC

• 1D: -2.66%
• 1M: -12.97%
• YTD: -28.24%
• 6M: -28.22%
• 1Y: -29.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GXC

• 1D: -2.39%
• 1M: -5.30%
• YTD: -8.73%
• 6M: -9.84%
• 1Y: 4.52%
• 3Y*: 9.44%
• 5Y*: -5.29%
• 10Y*: 5.03%

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

MAGC vs. GXC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MAGC Roundhill China Magnificent Seven ETF	-28.24%	16.35%	-14.03%
GXC SPDR S&P China ETF	-8.73%	30.84%	-14.58%

Correlation

The correlation between MAGC and GXC is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 3, 2024	0.89

The correlation between MAGC and GXC has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

Return for Risk

MAGC vs. GXC — Risk / Return Rank

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

MAGC

MAGC Risk / Return Rank: 1
MAGC Sharpe Ratio Rank: 1
MAGC Sortino Ratio Rank: 1
MAGC Omega Ratio Rank: 1
MAGC Calmar Ratio Rank: 3
MAGC Martin Ratio Rank: 1

GXC

GXC Risk / Return Rank: 11
GXC Sharpe Ratio Rank: 12
GXC Sortino Ratio Rank: 11
GXC Omega Ratio Rank: 11
GXC Calmar Ratio Rank: 11
GXC Martin Ratio Rank: 11

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.

MAGC vs. GXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill China Magnificent Seven ETF (MAGC) and SPDR S&P China ETF (GXC). 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.

	MAGC	GXC	Difference
Sharpe ratio: Return per unit of total volatility	-1.10	0.24	-1.33
Sortino ratio: Return per unit of downside risk	-1.62	0.46	-2.09
Omega ratio: Gain probability vs. loss probability	0.83	1.06	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.74	0.28	-1.02
Martin ratio: Return relative to average drawdown	-1.56	0.66	-2.22

MAGC vs. GXC - Sharpe Ratio Comparison

The current MAGC Sharpe Ratio is -1.10, which is lower than the GXC Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of MAGC and GXC, 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

MAGC vs. GXC - Drawdown Comparison

The maximum MAGC drawdown since its inception was -39.70%, smaller than the maximum GXC drawdown of -71.96%. Use the drawdown chart below to compare losses from any high point for MAGC and GXC.

Drawdown Indicators

	MAGC	GXC	Difference
Max Drawdown Largest peak-to-trough decline	-39.70%	-71.96%	+32.26%
Max Drawdown (1Y) Largest decline over 1 year	-39.70%	-16.05%	-23.65%
Max Drawdown (3Y) Largest decline over 3 years	—	-25.54%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-53.99%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-60.23%	—
Current Drawdown Current decline from peak	-39.70%	-35.50%	-4.20%
Average Drawdown Average peak-to-trough decline	-15.72%	-28.83%	+13.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.83%	6.84%	+11.99%

Volatility

MAGC vs. GXC - Volatility Comparison

Roundhill China Magnificent Seven ETF (MAGC) has a higher volatility of 8.35% compared to SPDR S&P China ETF (GXC) at 6.01%. This indicates that MAGC's price experiences larger fluctuations and is considered to be riskier than GXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAGC	GXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.35%	6.01%	+2.34%
Volatility (6M) Calculated over the trailing 6-month period	20.15%	14.12%	+6.03%
Volatility (1Y) Calculated over the trailing 1-year period	26.82%	19.12%	+7.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.10%	29.02%	+5.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.10%	26.06%	+8.04%

MAGC vs. GXC - Expense Ratio Comparison

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

Dividends

MAGC vs. GXC - Dividend Comparison

MAGC's dividend yield for the trailing twelve months is around 5.72%, more than GXC's 2.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GXC SPDR S&P China ETF	2.27%	2.40%	2.81%	3.70%	2.67%	1.35%	1.04%	1.60%	2.03%	1.84%	2.05%	2.85%
MAGC Roundhill China Magnificent Seven ETF	5.72%	4.10%	1.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MAGC and GXC in my portfolio?

MAGC and GXC have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAGC or GXC?

MAGC has higher volatility (8.35%) compared to GXC (6.01%). In terms of maximum drawdown, MAGC dropped -39.70% vs GXC's -71.96%.

Which ETF is better, MAGC or GXC?

On 1-year performance, GXC leads with 4.52% vs -29.25% for MAGC. Both ETFs have the same 0.59% expense ratio. On volatility, GXC has been the lower-risk option at 6.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAGC or GXC?

Over the 1-year period, GXC has performed better with a 4.52% return vs -29.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAGC or GXC?

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

Which ETF pays a higher dividend yield, MAGC or GXC?

MAGC has the higher dividend yield at 5.72%, compared with 2.27% for GXC.

What is the main difference between MAGC and GXC?

They also come from different issuers: Roundhill and State Street.

Which has better risk-adjusted returns?

GXC currently has the higher Sharpe Ratio (0.24 vs -1.10), 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.