MCH vs. JCHI

Last updated Jun 4, 2026

MCH (Matthews China Active ETF) and JCHI (JPMorgan Active China ETF) are both China Equities funds. Both are actively managed. Over the past 3 years, MCH returned 13.10%/yr vs 8.80%/yr for JCHI. With a 0.96 correlation, they move nearly in lockstep. MCH charges 0.79%/yr vs 0.65%/yr for JCHI.

Performance

MCH vs. JCHI - Performance Comparison

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

Returns By Period

In the year-to-date period, MCH achieves a 3.98% return, which is significantly higher than JCHI's 0.59% return.

MCH

• 1D: -1.27%
• 1M: 4.48%
• YTD: 3.98%
• 6M: 3.57%
• 1Y: 28.39%
• 3Y*: 13.10%
• 5Y*: —
• 10Y*: —

JCHI

• 1D: -1.80%
• 1M: 0.06%
• YTD: 0.59%
• 6M: -0.07%
• 1Y: 17.94%
• 3Y*: 8.80%
• 5Y*: —
• 10Y*: —

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

MCH vs. JCHI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MCH Matthews China Active ETF	3.98%	30.20%	17.32%	-16.26%
JCHI JPMorgan Active China ETF	0.59%	27.66%	13.77%	-17.06%

Correlation

The correlation between MCH and JCHI is 0.94, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Mar 17, 2023	0.96

The correlation between MCH and JCHI has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

MCH vs. JCHI - Sectors Allocation Comparison

Sectors	MCH	JCHI
Financial Services	25.5%	20.6%
Consumer Cyclical	16.2%	20.6%
Technology	15.0%	14.7%
Communication Services	13.2%	14.5%
Industrials	12.4%	10.7%
Basic Materials	9.5%	6.7%
Healthcare	5.5%	4.7%
Real Estate	2.7%	-
Energy	1.0%	3.3%
Consumer Defensive	0.6%	4.1%
Utilities	-	-

Return for Risk

MCH vs. JCHI — Risk / Return Rank

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

MCH

MCH Risk / Return Rank: 38
MCH Sharpe Ratio Rank: 40
MCH Sortino Ratio Rank: 39
MCH Omega Ratio Rank: 38
MCH Calmar Ratio Rank: 39
MCH Martin Ratio Rank: 33

JCHI

JCHI Risk / Return Rank: 27
JCHI Sharpe Ratio Rank: 28
JCHI Sortino Ratio Rank: 28
JCHI Omega Ratio Rank: 28
JCHI Calmar Ratio Rank: 26
JCHI Martin Ratio Rank: 24

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.

MCH vs. JCHI - Risk-Adjusted Trends Comparison

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

	MCH	JCHI	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.02	+0.39
Sortino ratio: Return per unit of downside risk	2.03	1.52	+0.51
Omega ratio: Gain probability vs. loss probability	1.25	1.19	+0.06
Calmar ratio: Return relative to maximum drawdown	1.90	1.25	+0.64
Martin ratio: Return relative to average drawdown	5.10	3.04	+2.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MCH vs. JCHI - Sharpe Ratio Comparison

The current MCH Sharpe Ratio is 1.41, which is higher than the JCHI Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of MCH and JCHI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MCH	JCHI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.41	1.02	+0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.25	-0.06

Drawdowns

MCH vs. JCHI - Drawdown Comparison

The maximum MCH drawdown since its inception was -40.53%, which is greater than JCHI's maximum drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for MCH and JCHI.

Drawdown Indicators

	MCH	JCHI	Difference
Max Drawdown Largest peak-to-trough decline	-40.53%	-29.57%	-10.96%
Max Drawdown (1Y) Largest decline over 1 year	-15.05%	-14.37%	-0.68%
Max Drawdown (3Y) Largest decline over 3 years	-30.57%	-27.47%	-3.10%
Current Drawdown Current decline from peak	-3.41%	-7.33%	+3.92%
Average Drawdown Average peak-to-trough decline	-18.50%	-13.34%	-5.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.58%	5.91%	-0.33%

Volatility

MCH vs. JCHI - Volatility Comparison

Matthews China Active ETF (MCH) has a higher volatility of 6.72% compared to JPMorgan Active China ETF (JCHI) at 6.29%. This indicates that MCH's price experiences larger fluctuations and is considered to be riskier than JCHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCH	JCHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.72%	6.29%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	14.45%	12.33%	+2.12%
Volatility (1Y) Calculated over the trailing 1-year period	20.18%	17.60%	+2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.53%	24.88%	+4.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.53%	24.88%	+4.65%

MCH vs. JCHI - Expense Ratio Comparison

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

Dividends

MCH vs. JCHI - Dividend Comparison

MCH's dividend yield for the trailing twelve months is around 1.69%, less than JCHI's 1.80% yield.

Position	TTM	2025	2024	2023
JCHI JPMorgan Active China ETF	1.80%	1.81%	2.12%	2.13%
MCH Matthews China Active ETF	1.69%	1.76%	1.31%	1.62%

Frequently Asked Questions

Can I hold both MCH and JCHI in my portfolio?

With a correlation of 0.94, MCH and JCHI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MCH or JCHI?

MCH has higher volatility (6.72%) compared to JCHI (6.29%). In terms of maximum drawdown, MCH dropped -40.53% vs JCHI's -29.57%.

Which ETF is better, MCH or JCHI?

On 3-year performance, MCH leads with 13.10% vs 8.80% for JCHI. On fees, JCHI is cheaper at 0.65% per year. On volatility, JCHI has been the lower-risk option at 6.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MCH or JCHI?

Over the 3-year period, MCH has performed better with a 13.10% return vs 8.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MCH or JCHI?

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

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

JCHI has the higher dividend yield at 1.80%, compared with 1.69% for MCH.

What is the main difference between MCH and JCHI?

They also come from different issuers: Matthews and JPMorgan. Their fees differ too: 0.79% for MCH and 0.65% for JCHI.

Which has better risk-adjusted returns?

MCH currently has the higher Sharpe Ratio (1.41 vs 1.02), 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.