MCHI vs. IVV

Last updated Jun 5, 2026

MCHI (iShares MSCI China ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - MCHI is a China Equities fund tracking the MSCI China Index, while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, MCHI returned 4.49%/yr vs 15.53%/yr for IVV. A 0.56 correlation means they provide meaningful diversification when combined. MCHI charges 0.59%/yr vs 0.03%/yr for IVV.

Performance

MCHI vs. IVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI China ETF (MCHI) and iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MCHI achieves a -7.22% return, which is significantly lower than IVV's 11.38% return. Over the past 10 years, MCHI has underperformed IVV with an annualized return of 4.49%, while IVV has yielded a comparatively higher 15.53% annualized return.

MCHI

• 1D: -0.45%
• 1M: -2.60%
• YTD: -7.22%
• 6M: -8.98%
• 1Y: 3.98%
• 3Y*: 9.73%
• 5Y*: -5.76%
• 10Y*: 4.49%

IVV

• 1D: 0.47%
• 1M: 4.66%
• YTD: 11.38%
• 6M: 11.30%
• 1Y: 28.64%
• 3Y*: 22.69%
• 5Y*: 13.99%
• 10Y*: 15.53%

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

MCHI vs. IVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MCHI iShares MSCI China ETF	-7.22%	31.04%	17.73%	-11.94%	-23.01%	-21.74%	27.78%	23.72%	-19.79%	54.67%
IVV iShares Core S&P 500 ETF	11.38%	17.85%	24.93%	26.31%	-18.16%	28.76%	18.40%	31.07%	-4.49%	21.75%

Correlation

The correlation between MCHI and IVV is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Apr 1, 2011	0.56

The correlation between MCHI and IVV shifts across timeframes, from 0.40 (3 years) to 0.56 (all time), reflecting how their relationship changes across market environments.

MCHI vs. IVV - Sectors Allocation Comparison

Sectors	MCHI	IVV
Consumer Cyclical	26.4%	10.1%
Financial Services	19.1%	11.8%
Communication Services	18.8%	11.2%
Technology	9.6%	35.6%
Basic Materials	5.5%	1.8%
Healthcare	5.4%	8.5%
Industrials	5.0%	8.3%
Energy	3.7%	3.5%
Consumer Defensive	3.2%	4.9%
Utilities	1.7%	2.4%
Real Estate	1.5%	1.9%

Return for Risk

MCHI vs. IVV — Risk / Return Rank

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

MCHI

MCHI Risk / Return Rank: 12
MCHI Sharpe Ratio Rank: 12
MCHI Sortino Ratio Rank: 12
MCHI Omega Ratio Rank: 12
MCHI Calmar Ratio Rank: 12
MCHI Martin Ratio Rank: 11

IVV

IVV Risk / Return Rank: 74
IVV Sharpe Ratio Rank: 76
IVV Sortino Ratio Rank: 75
IVV Omega Ratio Rank: 75
IVV Calmar Ratio Rank: 66
IVV Martin Ratio Rank: 79

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. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China ETF (MCHI) and iShares Core S&P 500 ETF (IVV). 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	IVV	Difference
Sharpe ratio: Return per unit of total volatility	0.20	2.44	-2.24
Sortino ratio: Return per unit of downside risk	0.42	3.31	-2.89
Omega ratio: Gain probability vs. loss probability	1.05	1.44	-0.39
Calmar ratio: Return relative to maximum drawdown	0.23	3.24	-3.01
Martin ratio: Return relative to average drawdown	0.48	15.05	-14.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MCHI vs. IVV - Sharpe Ratio Comparison

The current MCHI Sharpe Ratio is 0.20, which is lower than the IVV Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of MCHI and IVV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MCHI	IVV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.20	2.44	-2.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.19	0.83	-1.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	0.86	-0.70
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.45	-0.36

Drawdowns

MCHI vs. IVV - Drawdown Comparison

The maximum MCHI drawdown since its inception was -62.95%, which is greater than IVV's maximum drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for MCHI and IVV.

Drawdown Indicators

	MCHI	IVV	Difference
Max Drawdown Largest peak-to-trough decline	-62.95%	-55.25%	-7.70%
Max Drawdown (1Y) Largest decline over 1 year	-17.17%	-8.89%	-8.28%
Max Drawdown (3Y) Largest decline over 3 years	-25.85%	-18.75%	-7.10%
Max Drawdown (5Y) Largest decline over 5 years	-56.98%	-24.53%	-32.45%
Max Drawdown (10Y) Largest decline over 10 years	-62.95%	-33.90%	-29.05%
Current Drawdown Current decline from peak	-36.74%	-0.29%	-36.45%
Average Drawdown Average peak-to-trough decline	-24.53%	-10.78%	-13.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.36%	1.91%	+6.45%

Volatility

MCHI vs. IVV - Volatility Comparison

iShares MSCI China ETF (MCHI) has a higher volatility of 7.27% compared to iShares Core S&P 500 ETF (IVV) at 2.83%. This indicates that MCHI's price experiences larger fluctuations and is considered to be riskier than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCHI	IVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.27%	2.83%	+4.44%
Volatility (6M) Calculated over the trailing 6-month period	14.51%	8.90%	+5.61%
Volatility (1Y) Calculated over the trailing 1-year period	20.16%	11.80%	+8.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.71%	16.88%	+13.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.39%	18.05%	+9.34%

MCHI vs. IVV - Expense Ratio Comparison

MCHI has a 0.59% expense ratio, which is higher than IVV's 0.03% expense ratio.

Dividends

MCHI vs. IVV - Dividend Comparison

MCHI's dividend yield for the trailing twelve months is around 2.28%, more than IVV's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVV iShares Core S&P 500 ETF	1.06%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%
MCHI iShares MSCI China ETF	2.28%	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

Can I hold both MCHI and IVV in my portfolio?

MCHI and IVV have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MCHI or IVV?

MCHI has higher volatility (7.27%) compared to IVV (2.83%). In terms of maximum drawdown, MCHI dropped -62.95% vs IVV's -55.25%.

Which ETF is better, MCHI or IVV?

On 10-year performance, IVV leads with 15.53% vs 4.49% for MCHI. On fees, IVV is cheaper at 0.03% per year. On volatility, IVV has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MCHI or IVV?

Over the 10-year period, IVV has performed better with a 15.53% return vs 4.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MCHI or IVV?

IVV is cheaper with a 0.03% expense ratio, compared with 0.59% for MCHI.

Which ETF pays a higher dividend yield, MCHI or IVV?

MCHI has the higher dividend yield at 2.28%, compared with 1.06% for IVV.

What is the main difference between MCHI and IVV?

MCHI is categorized as China Equities, while IVV is S&P 500. MCHI tracks MSCI China Index, while IVV tracks S&P 500 Index. Their fees differ too: 0.59% for MCHI and 0.03% for IVV.

Which has better risk-adjusted returns?

IVV currently has the higher Sharpe Ratio (2.44 vs 0.20), 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.