MCHI vs. ^NDX
MCHI (iShares MSCI China ETF) is China Equities fund tracking the MSCI China Index, while ^NDX (NASDAQ 100 Index) is an index. Over the past 10 years, MCHI returned 4.76%/yr vs 20.95%/yr for ^NDX. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
MCHI vs. ^NDX - Performance Comparison
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Returns By Period
In the year-to-date period, MCHI achieves a -8.72% return, which is significantly lower than ^NDX's 17.37% return. Over the past 10 years, MCHI has underperformed ^NDX with an annualized return of 4.76%, while ^NDX has yielded a comparatively higher 20.95% annualized return.
MCHI
- 1D
- 0.90%
- 1M
- -5.63%
- YTD
- -8.72%
- 6M
- -9.79%
- 1Y
- 2.33%
- 3Y*
- 8.42%
- 5Y*
- -5.82%
- 10Y*
- 4.76%
^NDX
- 1D
- 0.64%
- 1M
- 0.19%
- YTD
- 17.37%
- 6M
- 17.62%
- 1Y
- 37.01%
- 3Y*
- 25.76%
- 5Y*
- 16.18%
- 10Y*
- 20.95%
MCHI vs. ^NDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MCHI iShares MSCI China ETF | -8.72% | 31.04% | 17.73% | -11.94% | -23.01% | -21.74% | 27.78% | 23.72% | -19.79% | 54.67% |
^NDX NASDAQ 100 Index | 17.37% | 20.17% | 24.88% | 53.81% | -32.97% | 26.63% | 47.58% | 37.96% | -1.04% | 31.52% |
Correlation
The correlation between MCHI and ^NDX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2011 | 0.55 |
The correlation between MCHI and ^NDX shifts across timeframes, from 0.38 (3 years) to 0.55 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MCHI vs. ^NDX — Risk / Return Rank
MCHI
^NDX
MCHI vs. ^NDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China ETF (MCHI) and NASDAQ 100 Index (^NDX). 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.
| MCHI | ^NDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | -2.50 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.36 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | 2.92 | -2.90 |
| Martin ratioReturn relative to average drawdown | 0.05 | 10.85 | -10.80 |
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Drawdowns
MCHI vs. ^NDX - Drawdown Comparison
The maximum MCHI drawdown since its inception was -62.95%, smaller than the maximum ^NDX drawdown of -82.90%. Use the drawdown chart below to compare losses from any high point for MCHI and ^NDX.
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Drawdown Indicators
| MCHI | ^NDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.95% | -82.90% | +19.95% |
Max Drawdown (1Y)Largest decline over 1 year | -18.51% | -12.12% | -6.39% |
Max Drawdown (3Y)Largest decline over 3 years | -25.85% | -22.93% | -2.92% |
Max Drawdown (5Y)Largest decline over 5 years | -56.98% | -35.56% | -21.42% |
Max Drawdown (10Y)Largest decline over 10 years | -62.95% | -35.56% | -27.39% |
Current DrawdownCurrent decline from peak | -37.76% | -3.34% | -34.42% |
Average DrawdownAverage peak-to-trough decline | -24.54% | -24.61% | +0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.81% | 3.26% | +5.55% |
Volatility
MCHI vs. ^NDX - Volatility Comparison
The current volatility for iShares MSCI China ETF (MCHI) is 6.46%, while NASDAQ 100 Index (^NDX) has a volatility of 7.51%. This indicates that MCHI experiences smaller price fluctuations and is considered to be less risky than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCHI | ^NDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.46% | 7.51% | -1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 14.62% | 13.84% | +0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.23% | 17.29% | +2.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.72% | 22.76% | +7.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.38% | 22.61% | +4.77% |
Frequently Asked Questions
MCHI and ^NDX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^NDX has higher volatility (7.51%) compared to MCHI (6.46%). In terms of maximum drawdown, MCHI dropped -62.95% vs ^NDX's -82.90%.
^NDX currently has the higher Sharpe Ratio (2.05 vs 0.02), 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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