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MCHI vs. BNDX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MCHI vs. BNDX

Last updated Jun 13, 2026

MCHI (iShares MSCI China ETF) and BNDX (Vanguard Total International Bond ETF) are both exchange-traded funds - MCHI is a China Equities fund tracking the MSCI China Index, while BNDX is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). Both are passively managed. Over the past 10 years, MCHI returned 4.76%/yr vs 1.72%/yr for BNDX. At a correlation of -0.02, they often move in opposite directions. MCHI charges 0.59%/yr vs 0.07%/yr for BNDX.

Performance

MCHI vs. BNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI China ETF (MCHI) and Vanguard Total International Bond ETF (BNDX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MCHI achieves a -8.72% return, which is significantly lower than BNDX's 1.02% return. Over the past 10 years, MCHI has outperformed BNDX with an annualized return of 4.76%, while BNDX has yielded a comparatively lower 1.72% 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%

BNDX

1D
0.17%
1M
0.85%
YTD
1.02%
6M
1.22%
1Y
2.27%
3Y*
4.32%
5Y*
0.32%
10Y*
1.72%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MCHI vs. BNDX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
BNDX
Vanguard Total International Bond ETF		1.02%2.86%3.57%8.77%-12.76%-2.29%4.65%7.87%2.81%2.40%

Correlation

The correlation between MCHI and BNDX 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

0.10

Correlation (5Y)
Calculated over the trailing 5-year period

0.05

Correlation (10Y)
Calculated over the trailing 10-year period

0.01

Correlation (All Time)
Calculated using the full available price history since Jun 4, 2013

-0.02

The correlation between MCHI and BNDX shifts across timeframes, from -0.02 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.

MCHI vs. BNDX - Sectors Allocation Comparison

Sectors
MCHI
BNDX

Consumer Cyclical

26.4%

-

Financial Services

19.1%
0.0%

Communication Services

18.8%
0.0%

Technology

9.6%

-

Basic Materials

5.5%

-

Healthcare

5.4%
0.0%

Industrials

5.0%
0.0%

Energy

3.7%
0.0%

Consumer Defensive

3.2%

-

Utilities

1.7%
0.0%

Real Estate

1.5%
0.0%

Consumer Cyclical

MCHI
26.4%
BNDX

-

Financial Services

MCHI
19.1%
BNDX
0.0%

Communication Services

MCHI
18.8%
BNDX
0.0%

Technology

MCHI
9.6%
BNDX

-

Basic Materials

MCHI
5.5%
BNDX

-

Healthcare

MCHI
5.4%
BNDX
0.0%

Industrials

MCHI
5.0%
BNDX
0.0%

Energy

MCHI
3.7%
BNDX
0.0%

Consumer Defensive

MCHI
3.2%
BNDX

-

Utilities

MCHI
1.7%
BNDX
0.0%

Real Estate

MCHI
1.5%
BNDX
0.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI China ETF

Vanguard Total International Bond ETF

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Often compared with BNDX:
BNDX vs. BNDBNDX vs. BNDWBNDX vs. VTABXBNDX vs. IAGGBNDX vs. FBIIXBNDX vs. IGOVBNDX vs. VWOB

Return for Risk

MCHI vs. BNDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MCHI
MCHI Risk / Return Rank: 1010
Overall Rank
MCHI Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
MCHI Sortino Ratio Rank: 1010
Sortino Ratio Rank
MCHI Omega Ratio Rank: 1010
Omega Ratio Rank
MCHI Calmar Ratio Rank: 1010
Calmar Ratio Rank
MCHI Martin Ratio Rank: 1010
Martin Ratio Rank
BNDX
BNDX Risk / Return Rank: 1818
Overall Rank
BNDX Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
BNDX Sortino Ratio Rank: 1818
Sortino Ratio Rank
BNDX Omega Ratio Rank: 1818
Omega Ratio Rank
BNDX Calmar Ratio Rank: 1818
Calmar Ratio Rank
BNDX Martin Ratio Rank: 1919
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MCHI vs. BNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China ETF (MCHI) and Vanguard Total International Bond ETF (BNDX). 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.

MCHIBNDXDifference
Sharpe ratioReturn per unit of total volatility
0.02
0.56

-0.54

Sortino ratioReturn per unit of downside risk
0.18
0.82

-0.64

Omega ratioGain probability vs. loss probability

1.02

1.10

-0.08

Calmar ratioReturn relative to maximum drawdown

0.03

0.66

-0.64

Martin ratioReturn relative to average drawdown

0.05

1.84

-1.79

MCHI vs. BNDX - Sharpe Ratio Comparison

The current MCHI Sharpe Ratio is 0.02, which is lower than the BNDX Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of MCHI and BNDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

MCHI vs. BNDX - Drawdown Comparison

The maximum MCHI drawdown since its inception was -62.95%, which is greater than BNDX's maximum drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for MCHI and BNDX.

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Drawdown Indicators

MCHIBNDXDifference

Max Drawdown

Largest peak-to-trough decline

-62.95%

-16.23%

-46.72%

Max Drawdown (1Y)

Largest decline over 1 year

-18.51%

-2.93%

-15.58%

Max Drawdown (3Y)

Largest decline over 3 years

-25.85%

-2.93%

-22.92%

Max Drawdown (5Y)

Largest decline over 5 years

-56.98%

-15.86%

-41.12%

Max Drawdown (10Y)

Largest decline over 10 years

-62.95%

-16.23%

-46.72%

Current Drawdown

Current decline from peak

-37.76%

-1.02%

-36.74%

Average Drawdown

Average peak-to-trough decline

-24.54%

-3.10%

-21.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.81%

1.05%

+7.76%

Volatility

MCHI vs. BNDX - Volatility Comparison

iShares MSCI China ETF (MCHI) has a higher volatility of 6.46% compared to Vanguard Total International Bond ETF (BNDX) at 1.49%. This indicates that MCHI's price experiences larger fluctuations and is considered to be riskier than BNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MCHIBNDXDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.46%

1.49%

+4.97%

Volatility (6M)

Calculated over the trailing 6-month period

14.62%

2.96%

+11.66%

Volatility (1Y)

Calculated over the trailing 1-year period

20.23%

3.47%

+16.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

30.72%

4.89%

+25.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.38%

4.10%

+23.28%

MCHI vs. BNDX - Expense Ratio Comparison

MCHI has a 0.59% expense ratio, which is higher than BNDX's 0.07% expense ratio.

Dividends

MCHI vs. BNDX - Dividend Comparison

MCHI's dividend yield for the trailing twelve months is around 2.32%, less than BNDX's 4.47% yield.

PositionTTM20252024202320222021202020192018201720162015
BNDX
Vanguard Total International Bond ETF		4.47%4.39%4.18%4.42%1.51%3.74%1.11%3.40%3.01%2.23%1.89%1.63%
MCHI
iShares MSCI China ETF		2.32%2.12%2.31%2.66%1.78%1.04%1.04%1.45%1.60%1.56%1.66%2.76%

Frequently Asked Questions

MCHI and BNDX 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.

MCHI has higher volatility (6.46%) compared to BNDX (1.49%). In terms of maximum drawdown, MCHI dropped -62.95% vs BNDX's -16.23%.

On 10-year performance, MCHI leads with 4.76% vs 1.72% for BNDX. On fees, BNDX is cheaper at 0.07% per year. On volatility, BNDX has been the lower-risk option at 1.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, MCHI has performed better with a 4.76% return vs 1.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BNDX is cheaper with a 0.07% expense ratio, compared with 0.59% for MCHI.

BNDX has the higher dividend yield at 4.47%, compared with 2.32% for MCHI.

MCHI is categorized as China Equities, while BNDX is Global Bonds. MCHI tracks MSCI China Index, while BNDX tracks Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.59% for MCHI and 0.07% for BNDX.

BNDX currently has the higher Sharpe Ratio (0.56 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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