MCHFX vs. ACEYX
MCHFX (Matthews China Fund) and ACEYX (AB All China Equity Portfolio) are both China Equities funds. Over the past 5 years, MCHFX returned -5.47%/yr vs -0.91%/yr for ACEYX. Their correlation of 0.92 means they have usually moved in the same direction. MCHFX charges 1.12%/yr vs 1.25%/yr for ACEYX.
Performance
MCHFX vs. ACEYX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MCHFX achieves a -1.69% return, which is significantly lower than ACEYX's -1.48% return.
MCHFX
- 1D
- 0.12%
- 1M
- 0.12%
- 6M
- -4.30%
- YTD
- -1.69%
- 1Y
- 10.45%
- 3Y*
- 8.27%
- 5Y*
- -5.47%
- 10Y*
- 6.38%
- ALL TIME*
- 8.05%
ACEYX
- 1D
- 0.10%
- 1M
- 2.04%
- 6M
- -4.94%
- YTD
- -1.48%
- 1Y
- 12.34%
- 3Y*
- 11.18%
- 5Y*
- -0.91%
- 10Y*
- —
- ALL TIME*
- 1.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
MCHFX Matthews China Fund | $0.00 | $0.00 | $0.00 |
MCHFX vs. ACEYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MCHFX Matthews China Fund | -1.69% | 29.82% | 17.84% | -19.21% | -24.38% | -19.41% | 43.07% | 34.57% | -21.03% |
ACEYX AB All China Equity Portfolio | -1.48% | 33.91% | 17.44% | -10.96% | -26.65% | -14.65% | 25.38% | 37.67% | -21.60% |
Correlation
The correlation between MCHFX and ACEYX is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2018 | 0.92 |
The correlation between MCHFX and ACEYX has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MCHFX vs. ACEYX — Risk / Return Rank
MCHFX
ACEYX
MCHFX vs. ACEYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Matthews China Fund (MCHFX) and AB All China Equity Portfolio (ACEYX). 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.
| MCHFX | ACEYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.11 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | 0.79 | -0.23 |
| Martin ratioReturn relative to average drawdown | 1.33 | 1.69 | -0.35 |
Loading charts...
Drawdowns
MCHFX vs. ACEYX - Drawdown Comparison
The maximum MCHFX drawdown since its inception was -67.02%, which is greater than ACEYX's maximum drawdown of -57.58%. Use the drawdown chart below to compare losses from any high point for MCHFX and ACEYX.
Loading charts...
Drawdown Indicators
| MCHFX | ACEYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.02% | -57.58% | -9.44% |
Max Drawdown (1Y)Largest decline over 1 year | -15.58% | -14.14% | -1.44% |
Max Drawdown (3Y)Largest decline over 3 years | -27.13% | -21.83% | -5.30% |
Max Drawdown (5Y)Largest decline over 5 years | -57.35% | -47.59% | -9.76% |
Max Drawdown (10Y)Largest decline over 10 years | -64.75% | — | — |
Current DrawdownCurrent decline from peak | -39.36% | -26.91% | -12.45% |
Average DrawdownAverage peak-to-trough decline | -22.20% | -27.73% | +5.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.45% | 6.63% | -0.18% |
Volatility
MCHFX vs. ACEYX - Volatility Comparison
Matthews China Fund (MCHFX) has a higher volatility of 8.14% compared to AB All China Equity Portfolio (ACEYX) at 7.49%. This indicates that MCHFX's price experiences larger fluctuations and is considered to be riskier than ACEYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MCHFX | ACEYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.14% | 7.49% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 17.47% | 15.19% | +2.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.00% | 20.25% | +1.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.94% | 23.28% | +6.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.76% | 23.58% | +3.18% |
MCHFX vs. ACEYX - Expense Ratio Comparison
MCHFX has a 1.12% expense ratio, which is lower than ACEYX's 1.25% expense ratio.
Dividends
MCHFX vs. ACEYX - Dividend Comparison
MCHFX's dividend yield for the trailing twelve months is around 1.38%, less than ACEYX's 5.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACEYX AB All China Equity Portfolio | 5.04% | 4.97% | 3.75% | 2.17% | 1.39% | 1.81% | 0.43% | 1.13% | 0.00% | 0.00% | 0.00% | 0.00% |
MCHFX Matthews China Fund | 1.38% | 1.36% | 1.91% | 0.78% | 7.53% | 6.54% | 1.25% | 1.12% | 22.28% | 10.31% | 13.66% | 19.24% |
Frequently Asked Questions
With a correlation of 0.91, MCHFX and ACEYX 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.
MCHFX has higher volatility (8.14%) compared to ACEYX (7.49%). In terms of maximum drawdown, MCHFX dropped -67.02% vs ACEYX's -57.58%.
ACEYX currently has the higher Sharpe Ratio (0.55 vs 0.40), 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.
Find the right allocation for MCHFX and ACEYX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer