MCHFX vs. SLV
MCHFX (Matthews China Fund) and SLV (iShares Silver Trust) are both funds - MCHFX is a China Equities fund managed by Matthews, while SLV is a Silver fund tracking the LBMA Silver Price. Over the past 10 years, MCHFX returned 7.56%/yr vs 15.63%/yr for SLV. At a 0.21 correlation, their price movements are largely independent. MCHFX charges 1.12%/yr vs 0.50%/yr for SLV.
Performance
MCHFX vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, MCHFX achieves a 3.02% return, which is significantly lower than SLV's 3.97% return. Over the past 10 years, MCHFX has underperformed SLV with an annualized return of 7.56%, while SLV has yielded a comparatively higher 15.63% annualized return.
MCHFX
- 1D
- 3.62%
- 1M
- 4.97%
- YTD
- 3.02%
- 6M
- 2.71%
- 1Y
- 26.31%
- 3Y*
- 12.75%
- 5Y*
- -5.97%
- 10Y*
- 7.56%
SLV
- 1D
- 1.16%
- 1M
- 1.62%
- YTD
- 3.97%
- 6M
- 29.40%
- 1Y
- 113.72%
- 3Y*
- 45.73%
- 5Y*
- 21.04%
- 10Y*
- 15.63%
MCHFX vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MCHFX Matthews China Fund | 3.02% | 29.82% | 17.84% | -19.21% | -24.38% | -19.41% | 43.07% | 34.57% | -21.17% | 59.08% |
SLV iShares Silver Trust | 3.97% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between MCHFX and SLV is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since May 1, 2006 | 0.21 |
The correlation between MCHFX and SLV shifts across timeframes, from 0.21 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MCHFX vs. SLV — Risk / Return Rank
MCHFX
SLV
MCHFX vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Matthews China Fund (MCHFX) and iShares Silver Trust (SLV). 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 | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.36 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | 2.69 | -0.90 |
| Martin ratioReturn relative to average drawdown | 4.81 | 5.76 | -0.96 |
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 | SLV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.40 | 1.94 | -0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.20 | 0.58 | -0.79 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | 0.49 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.25 | +0.07 |
Drawdowns
MCHFX vs. SLV - Drawdown Comparison
The maximum MCHFX drawdown since its inception was -67.02%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for MCHFX and SLV.
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Drawdown Indicators
| MCHFX | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.02% | -76.28% | +9.26% |
Max Drawdown (1Y)Largest decline over 1 year | -15.58% | -42.45% | +26.87% |
Max Drawdown (3Y)Largest decline over 3 years | -27.77% | -42.45% | +14.68% |
Max Drawdown (5Y)Largest decline over 5 years | -59.96% | -42.45% | -17.51% |
Max Drawdown (10Y)Largest decline over 10 years | -64.75% | -42.81% | -21.94% |
Current DrawdownCurrent decline from peak | -36.46% | -36.57% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -22.11% | -44.67% | +22.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.75% | 19.81% | -14.06% |
Volatility
MCHFX vs. SLV - Volatility Comparison
The current volatility for Matthews China Fund (MCHFX) is 7.54%, while iShares Silver Trust (SLV) has a volatility of 16.34%. This indicates that MCHFX experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCHFX | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.54% | 16.34% | -8.80% |
Volatility (6M)Calculated over the trailing 6-month period | 15.15% | 58.31% | -43.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.01% | 58.90% | -38.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.98% | 36.15% | -6.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.64% | 31.83% | -5.19% |
MCHFX vs. SLV - Expense Ratio Comparison
MCHFX has a 1.12% expense ratio, which is higher than SLV's 0.50% expense ratio.
Dividends
MCHFX vs. SLV - Dividend Comparison
MCHFX's dividend yield for the trailing twelve months is around 1.32%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MCHFX Matthews China Fund | 1.32% | 1.36% | 1.91% | 0.78% | 7.53% | 6.54% | 1.25% | 1.12% | 22.28% | 10.31% | 13.66% | 19.24% |
SLV iShares Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MCHFX and SLV have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (16.34%) compared to MCHFX (7.54%). In terms of maximum drawdown, MCHFX dropped -67.02% vs SLV's -76.28%.
SLV currently has the higher Sharpe Ratio (1.94 vs 1.40), 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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