MCHI vs. CBON
MCHI (iShares MSCI China ETF) and CBON (VanEck Vectors ChinaAMC China Bond ETF) are both exchange-traded funds - MCHI is a China Equities fund tracking the MSCI China Index, while CBON is a Emerging Markets Bonds fund tracking the ChinaBond China High Quality Bond Index. Both are passively managed. Over the past 10 years, MCHI returned 4.19%/yr vs 3.02%/yr for CBON. At a 0.25 correlation, their price movements are largely independent. MCHI charges 0.59%/yr vs 0.50%/yr for CBON.
Performance
MCHI vs. CBON - Performance Comparison
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Returns By Period
In the year-to-date period, MCHI achieves a -14.90% return, which is significantly lower than CBON's 4.92% return. Over the past 10 years, MCHI has outperformed CBON with an annualized return of 4.19%, while CBON has yielded a comparatively lower 3.02% annualized return.
MCHI
- 1D
- -1.26%
- 1M
- -8.88%
- YTD
- -14.90%
- 6M
- -15.66%
- 1Y
- -6.82%
- 3Y*
- 7.30%
- 5Y*
- -7.48%
- 10Y*
- 4.19%
CBON
- 1D
- 0.23%
- 1M
- 0.05%
- YTD
- 4.92%
- 6M
- 5.30%
- 1Y
- 8.34%
- 3Y*
- 5.29%
- 5Y*
- 2.14%
- 10Y*
- 3.02%
MCHI vs. CBON - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MCHI iShares MSCI China ETF | -14.90% | 31.04% | 17.73% | -11.94% | -23.01% | -21.74% | 27.78% | 23.72% | -19.79% | 54.67% |
CBON VanEck Vectors ChinaAMC China Bond ETF | 4.92% | 5.46% | 1.85% | 2.92% | -7.99% | 5.93% | 12.01% | 2.67% | 1.88% | 6.96% |
Correlation
The correlation between MCHI and CBON is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Nov 11, 2014 | 0.25 |
The correlation between MCHI and CBON shifts across timeframes, from 0.15 (1 year) to 0.30 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MCHI vs. CBON — Risk / Return Rank
MCHI
CBON
MCHI vs. CBON - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China ETF (MCHI) and VanEck Vectors ChinaAMC China Bond ETF (CBON). 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 | CBON | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.76 | ||
| Sortino ratioReturn per unit of downside risk | -4.03 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.48 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 6.25 | -6.56 |
| Martin ratioReturn relative to average drawdown | -0.72 | 22.97 | -23.69 |
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Drawdowns
MCHI vs. CBON - Drawdown Comparison
The maximum MCHI drawdown since its inception was -62.95%, which is greater than CBON's maximum drawdown of -14.13%. Use the drawdown chart below to compare losses from any high point for MCHI and CBON.
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Drawdown Indicators
| MCHI | CBON | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.95% | -14.13% | -48.82% |
Max Drawdown (1Y)Largest decline over 1 year | -22.76% | -1.34% | -21.42% |
Max Drawdown (3Y)Largest decline over 3 years | -25.85% | -4.56% | -21.29% |
Max Drawdown (5Y)Largest decline over 5 years | -56.98% | -14.13% | -42.85% |
Max Drawdown (10Y)Largest decline over 10 years | -62.95% | -14.13% | -48.82% |
Current DrawdownCurrent decline from peak | -41.97% | -0.52% | -41.45% |
Average DrawdownAverage peak-to-trough decline | -24.57% | -3.97% | -20.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.49% | 0.36% | +9.13% |
Volatility
MCHI vs. CBON - Volatility Comparison
iShares MSCI China ETF (MCHI) has a higher volatility of 6.05% compared to VanEck Vectors ChinaAMC China Bond ETF (CBON) at 0.73%. This indicates that MCHI's price experiences larger fluctuations and is considered to be riskier than CBON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCHI | CBON | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.05% | 0.73% | +5.32% |
Volatility (6M)Calculated over the trailing 6-month period | 14.90% | 2.64% | +12.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.15% | 3.46% | +16.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.74% | 4.92% | +25.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.34% | 5.56% | +21.78% |
MCHI vs. CBON - Expense Ratio Comparison
MCHI has a 0.59% expense ratio, which is higher than CBON's 0.50% expense ratio.
Dividends
MCHI vs. CBON - Dividend Comparison
MCHI's dividend yield for the trailing twelve months is around 2.16%, more than CBON's 1.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CBON VanEck Vectors ChinaAMC China Bond ETF | 1.53% | 1.66% | 2.15% | 3.01% | 2.70% | 3.05% | 2.87% | 3.87% | 3.39% | 3.33% | 3.25% | 2.78% |
MCHI iShares MSCI China ETF | 2.16% | 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 CBON have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MCHI has higher volatility (6.05%) compared to CBON (0.73%). In terms of maximum drawdown, MCHI dropped -62.95% vs CBON's -14.13%.
On 10-year performance, MCHI leads with 4.19% vs 3.02% for CBON. On fees, CBON is cheaper at 0.50% per year. On volatility, CBON has been the lower-risk option at 0.73%. 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 4.19% return vs 3.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CBON is cheaper with a 0.50% expense ratio, compared with 0.59% for MCHI.
MCHI has the higher dividend yield at 2.16%, compared with 1.53% for CBON.
MCHI is categorized as China Equities, while CBON is Emerging Markets Bonds. MCHI tracks MSCI China Index, while CBON tracks ChinaBond China High Quality Bond Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.59% for MCHI and 0.50% for CBON.
CBON currently has the higher Sharpe Ratio (2.42 vs -0.34), 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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