MCHFX vs. ^RTSI

Last updated Jun 5, 2026

MCHFX (Matthews China Fund) is China Equities fund managed by Matthews, while ^RTSI (RTS Index) is an index. Over the past 10 years, MCHFX returned 7.43%/yr vs 2.17%/yr for ^RTSI. At a 0.26 correlation, their price movements are largely independent.

Performance

MCHFX vs. ^RTSI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews China Fund (MCHFX) and RTS Index (^RTSI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MCHFX achieves a 1.74% return, which is significantly higher than ^RTSI's 0.37% return. Over the past 10 years, MCHFX has outperformed ^RTSI with an annualized return of 7.43%, while ^RTSI has yielded a comparatively lower 2.17% annualized return.

MCHFX

• 1D: -1.24%
• 1M: 3.30%
• YTD: 1.74%
• 6M: 1.26%
• 1Y: 22.17%
• 3Y*: 12.28%
• 5Y*: -6.40%
• 10Y*: 7.43%

^RTSI

• 1D: -1.70%
• 1M: 1.15%
• YTD: 0.37%
• 6M: 2.83%
• 1Y: -1.76%
• 3Y*: 2.07%
• 5Y*: -7.45%
• 10Y*: 2.17%

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

MCHFX vs. ^RTSI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MCHFX Matthews China Fund	1.74%	29.82%	17.84%	-19.21%	-24.38%	-19.41%	43.07%	34.57%	-21.17%	59.08%
^RTSI RTS Index	0.37%	24.73%	-17.56%	11.63%	-39.18%	15.01%	-10.42%	44.93%	-7.42%	0.18%

Correlation

The correlation between MCHFX and ^RTSI is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Feb 20, 1998	0.26

Over the past year, the correlation between MCHFX and ^RTSI has dropped to 0.01 - well below their long-term average of 0.26, suggesting their price drivers have been diverging.

Return for Risk

MCHFX vs. ^RTSI — Risk / Return Rank

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

MCHFX

MCHFX Risk / Return Rank: 19
MCHFX Sharpe Ratio Rank: 20
MCHFX Sortino Ratio Rank: 21
MCHFX Omega Ratio Rank: 19
MCHFX Calmar Ratio Rank: 20
MCHFX Martin Ratio Rank: 16

^RTSI

^RTSI Risk / Return Rank: 11
^RTSI Sharpe Ratio Rank: 11
^RTSI Sortino Ratio Rank: 11
^RTSI Omega Ratio Rank: 11
^RTSI Calmar Ratio Rank: 11
^RTSI 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.

MCHFX vs. ^RTSI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews China Fund (MCHFX) and RTS Index (^RTSI). 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.

	MCHFX	^RTSI	Difference
Sharpe ratio: Return per unit of total volatility	1.28	-0.06	+1.34
Sortino ratio: Return per unit of downside risk	1.92	0.07	+1.85
Omega ratio: Gain probability vs. loss probability	1.23	1.01	+0.22
Calmar ratio: Return relative to maximum drawdown	1.65	-0.07	+1.72
Martin ratio: Return relative to average drawdown	4.39	-0.15	+4.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MCHFX vs. ^RTSI - Sharpe Ratio Comparison

The current MCHFX Sharpe Ratio is 1.28, which is higher than the ^RTSI Sharpe Ratio of -0.06. The chart below compares the historical Sharpe Ratios of MCHFX and ^RTSI, 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

	MCHFX	^RTSI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	-0.06	+1.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.22	-0.21	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.07	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.21	+0.10

Drawdowns

MCHFX vs. ^RTSI - Drawdown Comparison

The maximum MCHFX drawdown since its inception was -67.02%, smaller than the maximum ^RTSI drawdown of -93.26%. Use the drawdown chart below to compare losses from any high point for MCHFX and ^RTSI.

Drawdown Indicators

	MCHFX	^RTSI	Difference
Max Drawdown Largest peak-to-trough decline	-67.02%	-93.26%	+26.24%
Max Drawdown (1Y) Largest decline over 1 year	-15.58%	-17.79%	+2.21%
Max Drawdown (3Y) Largest decline over 3 years	-27.77%	-40.03%	+12.26%
Max Drawdown (5Y) Largest decline over 5 years	-59.96%	-62.14%	+2.18%
Max Drawdown (10Y) Largest decline over 10 years	-64.75%	-62.14%	-2.61%
Current Drawdown Current decline from peak	-37.25%	-55.05%	+17.80%
Average Drawdown Average peak-to-trough decline	-22.11%	-43.30%	+21.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.76%	8.17%	-2.41%

Volatility

MCHFX vs. ^RTSI - Volatility Comparison

Matthews China Fund (MCHFX) has a higher volatility of 7.67% compared to RTS Index (^RTSI) at 5.98%. This indicates that MCHFX's price experiences larger fluctuations and is considered to be riskier than ^RTSI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCHFX	^RTSI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.67%	5.98%	+1.69%
Volatility (6M) Calculated over the trailing 6-month period	15.20%	12.81%	+2.39%
Volatility (1Y) Calculated over the trailing 1-year period	20.05%	21.07%	-1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.97%	36.06%	-6.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.64%	31.01%	-4.37%

Frequently Asked Questions

Can I hold both MCHFX and ^RTSI in my portfolio?

MCHFX and ^RTSI have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MCHFX or ^RTSI?

MCHFX has higher volatility (7.67%) compared to ^RTSI (5.98%). In terms of maximum drawdown, MCHFX dropped -67.02% vs ^RTSI's -93.26%.

Which has better risk-adjusted returns?

MCHFX currently has the higher Sharpe Ratio (1.28 vs -0.06), 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.