MCHI vs. VCLT
MCHI (iShares MSCI China ETF) and VCLT (Vanguard Long-Term Corporate Bond ETF) are both exchange-traded funds - MCHI is a China Equities fund tracking the MSCI China Index, while VCLT is a Corporate Bonds fund tracking the Barclays U.S. 10+ Year Corporate Index. Both are passively managed. Over the past 10 years, MCHI returned 4.43%/yr vs 2.14%/yr for VCLT. At a 0.01 correlation, their price movements are largely independent. MCHI charges 0.59%/yr vs 0.04%/yr for VCLT.
Performance
MCHI vs. VCLT - Performance Comparison
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Returns By Period
In the year-to-date period, MCHI achieves a -10.22% return, which is significantly lower than VCLT's 0.19% return. Over the past 10 years, MCHI has outperformed VCLT with an annualized return of 4.43%, while VCLT has yielded a comparatively lower 2.14% annualized return.
MCHI
- 1D
- -0.94%
- 1M
- -7.53%
- YTD
- -10.22%
- 6M
- -12.26%
- 1Y
- 0.38%
- 3Y*
- 8.32%
- 5Y*
- -6.07%
- 10Y*
- 4.43%
VCLT
- 1D
- -0.30%
- 1M
- -0.62%
- YTD
- 0.19%
- 6M
- -0.19%
- 1Y
- 6.74%
- 3Y*
- 4.19%
- 5Y*
- -2.13%
- 10Y*
- 2.14%
MCHI vs. VCLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MCHI iShares MSCI China ETF | -10.22% | 31.04% | 17.73% | -11.94% | -23.01% | -21.74% | 27.78% | 23.72% | -19.79% | 54.67% |
VCLT Vanguard Long-Term Corporate Bond ETF | 0.19% | 7.18% | -1.90% | 11.17% | -25.50% | -1.73% | 13.27% | 23.89% | -7.04% | 11.70% |
Correlation
The correlation between MCHI and VCLT is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2011 | 0.01 |
The correlation between MCHI and VCLT shifts across timeframes, from 0.01 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MCHI vs. VCLT — Risk / Return Rank
MCHI
VCLT
MCHI vs. VCLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China ETF (MCHI) and Vanguard Long-Term Corporate Bond ETF (VCLT). 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 | VCLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.15 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | 1.29 | -1.27 |
| Martin ratioReturn relative to average drawdown | 0.04 | 3.15 | -3.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MCHI | VCLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.02 | 0.86 | -0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.20 | -0.17 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.16 | 0.17 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 0.39 | -0.31 |
Drawdowns
MCHI vs. VCLT - Drawdown Comparison
The maximum MCHI drawdown since its inception was -62.95%, which is greater than VCLT's maximum drawdown of -34.31%. Use the drawdown chart below to compare losses from any high point for MCHI and VCLT.
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Drawdown Indicators
| MCHI | VCLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.95% | -34.31% | -28.64% |
Max Drawdown (1Y)Largest decline over 1 year | -18.51% | -5.25% | -13.26% |
Max Drawdown (3Y)Largest decline over 3 years | -25.85% | -13.03% | -12.82% |
Max Drawdown (5Y)Largest decline over 5 years | -56.98% | -34.31% | -22.67% |
Max Drawdown (10Y)Largest decline over 10 years | -62.95% | -34.31% | -28.64% |
Current DrawdownCurrent decline from peak | -38.78% | -15.03% | -23.75% |
Average DrawdownAverage peak-to-trough decline | -24.53% | -8.16% | -16.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.52% | 2.14% | +6.38% |
Volatility
MCHI vs. VCLT - Volatility Comparison
iShares MSCI China ETF (MCHI) has a higher volatility of 7.03% compared to Vanguard Long-Term Corporate Bond ETF (VCLT) at 2.27%. This indicates that MCHI's price experiences larger fluctuations and is considered to be riskier than VCLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCHI | VCLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.03% | 2.27% | +4.76% |
Volatility (6M)Calculated over the trailing 6-month period | 14.70% | 5.80% | +8.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.26% | 7.88% | +12.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.73% | 12.77% | +17.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.41% | 12.85% | +14.56% |
MCHI vs. VCLT - Expense Ratio Comparison
MCHI has a 0.59% expense ratio, which is higher than VCLT's 0.04% expense ratio.
Dividends
MCHI vs. VCLT - Dividend Comparison
MCHI's dividend yield for the trailing twelve months is around 2.36%, less than VCLT's 5.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MCHI iShares MSCI China ETF | 2.36% | 2.12% | 2.31% | 2.66% | 1.78% | 1.04% | 1.04% | 1.45% | 1.60% | 1.56% | 1.66% | 2.76% |
VCLT Vanguard Long-Term Corporate Bond ETF | 5.59% | 5.51% | 5.19% | 4.67% | 4.44% | 3.07% | 3.16% | 3.81% | 4.55% | 4.01% | 4.33% | 4.68% |
Frequently Asked Questions
MCHI and VCLT have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MCHI has higher volatility (7.03%) compared to VCLT (2.27%). In terms of maximum drawdown, MCHI dropped -62.95% vs VCLT's -34.31%.
On 10-year performance, MCHI leads with 4.43% vs 2.14% for VCLT. On fees, VCLT is cheaper at 0.04% per year. On volatility, VCLT has been the lower-risk option at 2.27%. 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 4.43% return vs 2.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCLT is cheaper with a 0.04% expense ratio, compared with 0.59% for MCHI.
VCLT has the higher dividend yield at 5.59%, compared with 2.36% for MCHI.
MCHI is categorized as China Equities, while VCLT is Corporate Bonds. MCHI tracks MSCI China Index, while VCLT tracks Barclays U.S. 10+ Year Corporate Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.59% for MCHI and 0.04% for VCLT.
VCLT currently has the higher Sharpe Ratio (0.86 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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