MCHI vs. BTC-USD
MCHI (iShares MSCI China ETF) is China Equities fund tracking the MSCI China Index, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, MCHI returned 4.76%/yr vs 57.23%/yr for BTC-USD. At a 0.09 correlation, their price movements are largely independent.
Performance
MCHI vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, MCHI achieves a -8.72% return, which is significantly higher than BTC-USD's -26.27% return. Over the past 10 years, MCHI has underperformed BTC-USD with an annualized return of 4.76%, while BTC-USD has yielded a comparatively higher 57.23% 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%
BTC-USD
- 1D
- 1.71%
- 1M
- -20.43%
- YTD
- -26.27%
- 6M
- -28.52%
- 1Y
- -39.20%
- 3Y*
- 36.94%
- 5Y*
- 9.74%
- 10Y*
- 57.23%
MCHI vs. BTC-USD - 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% |
BTC-USD Bitcoin | -26.27% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between MCHI and BTC-USD is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2012 | 0.09 |
The correlation between MCHI and BTC-USD shifts across timeframes, from 0.09 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MCHI vs. BTC-USD — Risk / Return Rank
MCHI
BTC-USD
MCHI vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China ETF (MCHI) 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.
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 | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.87 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | -0.77 | +0.79 |
| Martin ratioReturn relative to average drawdown | 0.05 | -1.33 | +1.39 |
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Drawdowns
MCHI vs. BTC-USD - Drawdown Comparison
The maximum MCHI drawdown since its inception was -62.95%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for MCHI and BTC-USD.
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Drawdown Indicators
| MCHI | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.95% | -85.30% | +22.35% |
Max Drawdown (1Y)Largest decline over 1 year | -18.51% | -51.21% | +32.70% |
Max Drawdown (3Y)Largest decline over 3 years | -25.85% | -51.21% | +25.36% |
Max Drawdown (5Y)Largest decline over 5 years | -56.98% | -76.67% | +19.69% |
Max Drawdown (10Y)Largest decline over 10 years | -62.95% | -83.80% | +20.85% |
Current DrawdownCurrent decline from peak | -37.76% | -48.27% | +10.51% |
Average DrawdownAverage peak-to-trough decline | -24.54% | -42.36% | +17.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.81% | 35.16% | -26.35% |
Volatility
MCHI vs. BTC-USD - Volatility Comparison
The current volatility for iShares MSCI China ETF (MCHI) is 6.46%, while Bitcoin (BTC-USD) has a volatility of 11.97%. This indicates that MCHI 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
| MCHI | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.46% | 11.97% | -5.51% |
Volatility (6M)Calculated over the trailing 6-month period | 14.62% | 34.64% | -20.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.23% | 35.59% | -15.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.72% | 44.57% | -13.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.38% | 56.61% | -29.23% |
Frequently Asked Questions
MCHI and BTC-USD have a correlation of 0.27, 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 (11.97%) compared to MCHI (6.46%). In terms of maximum drawdown, MCHI dropped -62.95% vs BTC-USD's -85.30%.
MCHI currently has the higher Sharpe Ratio (0.02 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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