MCHFX vs. BTC-USD
MCHFX (Matthews China Fund) is China Equities fund managed by Matthews, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, MCHFX returned 7.43%/yr vs 59.71%/yr for BTC-USD. At a 0.09 correlation, their price movements are largely independent.
Performance
MCHFX vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, MCHFX achieves a 1.74% return, which is significantly higher than BTC-USD's -27.60% return. Over the past 10 years, MCHFX has underperformed BTC-USD with an annualized return of 7.43%, while BTC-USD has yielded a comparatively higher 59.71% 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%
BTC-USD
- 1D
- -1.08%
- 1M
- -21.71%
- YTD
- -27.60%
- 6M
- -31.22%
- 1Y
- -39.53%
- 3Y*
- 35.01%
- 5Y*
- 12.25%
- 10Y*
- 59.71%
MCHFX vs. BTC-USD - 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% |
BTC-USD Bitcoin | -27.60% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between MCHFX and BTC-USD is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Sep 20, 2012 | 0.09 |
The correlation between MCHFX and BTC-USD shifts across timeframes, from 0.09 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MCHFX vs. BTC-USD — Risk / Return Rank
MCHFX
BTC-USD
MCHFX vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Matthews China Fund (MCHFX) and Bitcoin (BTC-USD). 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 | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.20 | ||
| Sortino ratioReturn per unit of downside risk | +3.21 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.87 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | -0.80 | +2.44 |
| Martin ratioReturn relative to average drawdown | 4.39 | -1.39 | +5.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MCHFX | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | -0.92 | +2.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.22 | 0.23 | -0.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.88 | -0.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 1.13 | -0.81 |
Drawdowns
MCHFX vs. BTC-USD - Drawdown Comparison
The maximum MCHFX drawdown since its inception was -67.02%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for MCHFX and BTC-USD.
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Drawdown Indicators
| MCHFX | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.02% | -85.30% | +18.28% |
Max Drawdown (1Y)Largest decline over 1 year | -15.58% | -49.65% | +34.07% |
Max Drawdown (3Y)Largest decline over 3 years | -27.77% | -49.65% | +21.88% |
Max Drawdown (5Y)Largest decline over 5 years | -59.96% | -76.67% | +16.71% |
Max Drawdown (10Y)Largest decline over 10 years | -64.75% | -83.80% | +19.05% |
Current DrawdownCurrent decline from peak | -37.25% | -49.21% | +11.96% |
Average DrawdownAverage peak-to-trough decline | -22.11% | -42.28% | +20.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.76% | 33.87% | -28.11% |
Volatility
MCHFX vs. BTC-USD - Volatility Comparison
The current volatility for Matthews China Fund (MCHFX) is 7.67%, while Bitcoin (BTC-USD) has a volatility of 10.14%. This indicates that MCHFX experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCHFX | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.67% | 10.14% | -2.47% |
Volatility (6M)Calculated over the trailing 6-month period | 15.20% | 34.17% | -18.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.05% | 35.51% | -15.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.97% | 44.98% | -15.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.64% | 56.69% | -30.05% |
Frequently Asked Questions
MCHFX and BTC-USD have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (10.14%) compared to MCHFX (7.67%). In terms of maximum drawdown, MCHFX dropped -67.02% vs BTC-USD's -85.30%.
MCHFX currently has the higher Sharpe Ratio (1.28 vs -0.92), 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.
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