MCHI vs. GC=F

Last updated Jun 10, 2026

MCHI (iShares MSCI China ETF) is China Equities fund tracking the MSCI China Index, while GC=F (Gold Futures) is an asset. At a correlation of -0.07, they often move in opposite directions.

Performance

MCHI vs. GC=F - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI China ETF (MCHI) and Gold Futures (GC=F). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MCHI

• 1D: 0.69%
• 1M: -6.89%
• YTD: -9.61%
• 6M: -10.41%
• 1Y: -0.02%
• 3Y*: 8.57%
• 5Y*: -6.07%
• 10Y*: 4.50%

GC=F

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MCHI vs. GC=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MCHI iShares MSCI China ETF	-9.61%	31.04%	17.73%	-11.94%	-19.20%
GC=F Gold Futures	0.00%	0.00%	0.00%	0.00%	5.84%

Correlation

The correlation between MCHI and GC=F is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022	-0.07

Return for Risk

MCHI vs. GC=F — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MCHI

MCHI Risk / Return Rank: 9
MCHI Sharpe Ratio Rank: 10
MCHI Sortino Ratio Rank: 9
MCHI Omega Ratio Rank: 9
MCHI Calmar Ratio Rank: 10
MCHI Martin Ratio Rank: 9

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. GC=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China ETF (MCHI) and Gold Futures (GC=F). 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.

	MCHI	GC=F	Difference
Sharpe ratio: Return per unit of total volatility	-0.00	—	—
Sortino ratio: Return per unit of downside risk	0.14	—	—
Omega ratio: Gain probability vs. loss probability	1.02	—	—
Calmar ratio: Return relative to maximum drawdown	-0.00	—	—
Martin ratio: Return relative to average drawdown	-0.00	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MCHI	GC=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.00	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.20	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	—	—

Drawdowns

Drawdown Indicators

	MCHI	GC=F	Difference
Max Drawdown Largest peak-to-trough decline	-62.95%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-18.51%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-25.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-56.98%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-62.95%	—	—
Current Drawdown Current decline from peak	-38.36%	—	—
Average Drawdown Average peak-to-trough decline	-24.53%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	8.59%	—	—

Volatility

Volatility by Period

	MCHI	GC=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.10%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.23%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.73%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.40%	—	—

Frequently Asked Questions

Can I hold both MCHI and GC=F in my portfolio?

MCHI and GC=F have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.