MCH vs. CHIQ

Last updated Aug 5, 2026

MCH (Matthews China Active ETF) and CHIQ (Global X MSCI China Consumer Discretionary ETF) are both China Equities funds. MCH is actively managed, while CHIQ is passively managed. Over the past 3 years, MCH returned 9.01%/yr vs -1.64%/yr for CHIQ. Their correlation of 0.87 means they have usually moved in the same direction. MCH charges 0.79%/yr vs 0.65%/yr for CHIQ.

Performance

MCH vs. CHIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews China Active ETF (MCH) and Global X MSCI China Consumer Discretionary ETF (CHIQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MCH achieves a 0.60% return, which is significantly higher than CHIQ's -12.61% return.

MCH

• 1D: 1.35%
• 1M: 1.55%
• 6M: -2.23%
• YTD: 0.60%
• 1Y: 12.16%
• 3Y*: 9.01%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.31%

CHIQ

• 1D: -0.78%
• 1M: 13.46%
• 6M: -11.03%
• YTD: -12.61%
• 1Y: -11.86%
• 3Y*: -1.64%
• 5Y*: -8.27%
• 10Y*: 6.32%
• ALL TIME*: 2.17%

*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)
CHIQ Global X MSCI China Consumer Discretionary ETF	$1.03M	$735.04K	$809.72K
MCH Matthews China Active ETF	$41.25K	$45.58K	$81.23K

MCH vs. CHIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MCH Matthews China Active ETF	0.60%	30.20%	17.32%	-19.91%	-3.57%
CHIQ Global X MSCI China Consumer Discretionary ETF	-12.61%	13.69%	10.74%	-10.70%	-9.32%

Correlation

The correlation between MCH and CHIQ is 0.68, 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.	0.68
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (All Time) Calculated using the full available price history since Jul 14, 2022	0.87

The correlation between MCH and CHIQ shifts across timeframes, from 0.68 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

MCH vs. CHIQ - Sectors Allocation Comparison

Sectors	MCH	CHIQ
Financial Services	23.4%	-
Consumer Cyclical	17.9%	95.2%
Technology	13.4%	0.3%
Communication Services	13.0%	-
Industrials	9.5%	0.3%
Basic Materials	9.3%	-
Healthcare	5.7%	-
Real Estate	2.8%	0.3%
Energy	0.7%	-
Consumer Defensive	0.6%	3.5%
Utilities	-	-

Return for Risk

MCH vs. CHIQ — Risk / Return Rank

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

MCH

MCH Risk / Return Rank: 23
MCH Sharpe Ratio Rank: 23
MCH Sortino Ratio Rank: 22
MCH Omega Ratio Rank: 22
MCH Calmar Ratio Rank: 24
MCH Martin Ratio Rank: 24

CHIQ

CHIQ Risk / Return Rank: 5
CHIQ Sharpe Ratio Rank: 5
CHIQ Sortino Ratio Rank: 5
CHIQ Omega Ratio Rank: 5
CHIQ Calmar Ratio Rank: 6
CHIQ Martin Ratio Rank: 6

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.

MCH vs. CHIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews China Active ETF (MCH) and Global X MSCI China Consumer Discretionary ETF (CHIQ). 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.

	MCH	CHIQ	Difference
Sharpe ratio: Return per unit of total volatility	0.56	-0.52	+1.07
Sortino ratio: Return per unit of downside risk	0.91	-0.61	+1.51
Omega ratio: Gain probability vs. loss probability	1.11	0.93	+0.18
Calmar ratio: Return relative to maximum drawdown	0.81	-0.34	+1.15
Martin ratio: Return relative to average drawdown	1.96	-0.71	+2.67

MCH vs. CHIQ - Sharpe Ratio Comparison

The current MCH Sharpe Ratio is 0.56, which is higher than the CHIQ Sharpe Ratio of -0.52. The chart below compares the historical Sharpe Ratios of MCH and CHIQ, 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

MCH vs. CHIQ - Drawdown Comparison

The maximum MCH drawdown since its inception was -40.53%, smaller than the maximum CHIQ drawdown of -67.04%. Use the drawdown chart below to compare losses from any high point for MCH and CHIQ.

Drawdown Indicators

	MCH	CHIQ	Difference
Max Drawdown Largest peak-to-trough decline	-40.53%	-67.04%	+26.51%
Max Drawdown (1Y) Largest decline over 1 year	-15.05%	-35.53%	+20.48%
Max Drawdown (3Y) Largest decline over 3 years	-30.57%	-35.53%	+4.96%
Max Drawdown (5Y) Largest decline over 5 years	—	-54.89%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-67.04%	—
Current Drawdown Current decline from peak	-6.55%	-54.15%	+47.60%
Average Drawdown Average peak-to-trough decline	-17.99%	-30.87%	+12.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.21%	16.85%	-10.64%

Volatility

MCH vs. CHIQ - Volatility Comparison

Matthews China Active ETF (MCH) has a higher volatility of 7.61% compared to Global X MSCI China Consumer Discretionary ETF (CHIQ) at 6.69%. This indicates that MCH's price experiences larger fluctuations and is considered to be riskier than CHIQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCH	CHIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.61%	6.69%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	16.63%	16.64%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	21.97%	23.16%	-1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.39%	37.29%	-7.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.39%	32.47%	-3.08%

MCH vs. CHIQ - Expense Ratio Comparison

MCH has a 0.79% expense ratio, which is higher than CHIQ's 0.65% expense ratio.

Dividends

MCH vs. CHIQ - Dividend Comparison

MCH's dividend yield for the trailing twelve months is around 1.75%, more than CHIQ's 1.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHIQ Global X MSCI China Consumer Discretionary ETF	1.54%	1.48%	2.65%	2.26%	0.38%	0.00%	0.11%	1.05%	2.71%	0.62%	1.51%	4.86%
MCH Matthews China Active ETF	1.75%	1.76%	1.31%	1.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MCH and CHIQ in my portfolio?

MCH and CHIQ have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MCH or CHIQ?

MCH has higher volatility (7.61%) compared to CHIQ (6.69%). In terms of maximum drawdown, MCH dropped -40.53% vs CHIQ's -67.04%.

Which ETF is better, MCH or CHIQ?

On 3-year performance, MCH leads with 9.01% vs -1.64% for CHIQ. On fees, CHIQ is cheaper at 0.65% per year. On volatility, CHIQ has been the lower-risk option at 6.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MCH or CHIQ?

Over the 3-year period, MCH has performed better with a 9.01% return vs -1.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MCH or CHIQ?

CHIQ is cheaper with a 0.65% expense ratio, compared with 0.79% for MCH.

Which ETF pays a higher dividend yield, MCH or CHIQ?

MCH has the higher dividend yield at 1.75%, compared with 1.54% for CHIQ.

What is the main difference between MCH and CHIQ?

They also come from different issuers: Matthews and Global X. Their fees differ too: 0.79% for MCH and 0.65% for CHIQ.

Which has better risk-adjusted returns?

MCH currently has the higher Sharpe Ratio (0.56 vs -0.52), 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.