MCHFX vs. MJFOX
MCHFX (Matthews China Fund) and MJFOX (Matthews Japan Fund) are both mutual funds - MCHFX is a China Equities fund managed by Matthews, while MJFOX is a Japan Equities fund managed by Matthews. Over the past 10 years, MCHFX returned 6.38%/yr vs 8.67%/yr for MJFOX. Their 0.44 correlation means their historical movements had little consistent relationship. MCHFX charges 1.12%/yr vs 1.05%/yr for MJFOX.
Performance
MCHFX vs. MJFOX - Performance Comparison
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Returns By Period
In the year-to-date period, MCHFX achieves a -1.69% return, which is significantly lower than MJFOX's 15.22% return. Over the past 10 years, MCHFX has underperformed MJFOX with an annualized return of 6.38%, while MJFOX has yielded a comparatively higher 8.67% annualized 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%
MJFOX
- 1D
- -1.03%
- 1M
- -0.79%
- 6M
- 9.63%
- YTD
- 15.22%
- 1Y
- 28.68%
- 3Y*
- 21.80%
- 5Y*
- 8.56%
- 10Y*
- 8.67%
- ALL TIME*
- 7.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
MCHFX Matthews China Fund | $0.00 | $0.00 | $0.00 |
MJFOX Matthews Japan Fund | $0.00 | $0.00 | $0.00 |
MCHFX vs. MJFOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MCHFX Matthews China Fund | -1.69% | 29.82% | 17.84% | -19.21% | -24.38% | -19.41% | 43.07% | 34.57% | -21.17% | 59.08% |
MJFOX Matthews Japan Fund | 15.22% | 22.72% | 16.31% | 25.79% | -27.84% | -5.79% | 29.80% | 26.08% | -20.12% | 33.22% |
Correlation
The correlation between MCHFX and MJFOX is 0.49, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.49 |
Correlation (3Y) Balances recent behavior with more history. | 0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.39 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.45 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 1998 | 0.44 |
The correlation between MCHFX and MJFOX shifts across timeframes, from 0.38 (3 years) to 0.49 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MCHFX vs. MJFOX — Risk / Return Rank
MCHFX
MJFOX
MCHFX vs. MJFOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Matthews China Fund (MCHFX) and Matthews Japan Fund (MJFOX). 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 | MJFOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.25 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | 2.14 | -1.58 |
| Martin ratioReturn relative to average drawdown | 1.33 | 7.17 | -5.84 |
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Drawdowns
MCHFX vs. MJFOX - Drawdown Comparison
The maximum MCHFX drawdown since its inception was -67.02%, which is greater than MJFOX's maximum drawdown of -63.52%. Use the drawdown chart below to compare losses from any high point for MCHFX and MJFOX.
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Drawdown Indicators
| MCHFX | MJFOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.02% | -63.52% | -3.50% |
Max Drawdown (1Y)Largest decline over 1 year | -15.58% | -14.53% | -1.05% |
Max Drawdown (3Y)Largest decline over 3 years | -27.13% | -17.14% | -9.99% |
Max Drawdown (5Y)Largest decline over 5 years | -57.35% | -42.85% | -14.50% |
Max Drawdown (10Y)Largest decline over 10 years | -64.75% | -42.85% | -21.90% |
Current DrawdownCurrent decline from peak | -39.36% | -5.61% | -33.75% |
Average DrawdownAverage peak-to-trough decline | -22.20% | -21.15% | -1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.45% | 4.30% | +2.15% |
Volatility
MCHFX vs. MJFOX - Volatility Comparison
Matthews China Fund (MCHFX) and Matthews Japan Fund (MJFOX) have volatilities of 8.14% and 8.36%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCHFX | MJFOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.14% | 8.36% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 17.47% | 20.03% | -2.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.00% | 23.83% | -1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.94% | 20.96% | +8.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.76% | 19.10% | +7.66% |
MCHFX vs. MJFOX - Expense Ratio Comparison
MCHFX has a 1.12% expense ratio, which is higher than MJFOX's 1.05% expense ratio.
Dividends
MCHFX vs. MJFOX - Dividend Comparison
MCHFX's dividend yield for the trailing twelve months is around 1.38%, less than MJFOX's 1.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MJFOX Matthews Japan Fund | 1.70% | 1.96% | 2.12% | 6.09% | 7.19% | 8.08% | 10.15% | 8.63% | 4.14% | 3.90% | 1.15% | 0.00% |
Frequently Asked Questions
MCHFX and MJFOX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MJFOX has higher volatility (8.36%) compared to MCHFX (8.14%). In terms of maximum drawdown, MCHFX dropped -67.02% vs MJFOX's -63.52%.
MJFOX currently has the higher Sharpe Ratio (1.31 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.
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