MCHN.DE vs. ICGA.DE
MCHN.DE (Invesco MSCI China All Shares Stock Connect UCITS ETF Acc) and ICGA.DE (iShares MSCI China UCITS ETF USD Acc) are both China Equities funds - MCHN.DE tracks the MSCI China All Shares Stock Connect Select while ICGA.DE tracks the MSCI China. Both are passively managed. Over the past 5 years, MCHN.DE returned -2.96%/yr vs -4.32%/yr for ICGA.DE. With a 0.96 correlation, they move nearly in lockstep. MCHN.DE charges 0.35%/yr vs 0.28%/yr for ICGA.DE.
Performance
MCHN.DE vs. ICGA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, MCHN.DE achieves a -0.35% return, which is significantly higher than ICGA.DE's -6.86% return.
MCHN.DE
- 1D
- -0.22%
- 1M
- -1.36%
- YTD
- -0.35%
- 6M
- -1.47%
- 1Y
- 12.33%
- 3Y*
- 7.98%
- 5Y*
- -2.96%
- 10Y*
- —
ICGA.DE
- 1D
- -0.54%
- 1M
- -3.40%
- YTD
- -6.86%
- 6M
- -9.46%
- 1Y
- 2.44%
- 3Y*
- 7.72%
- 5Y*
- -4.32%
- 10Y*
- —
MCHN.DE vs. ICGA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MCHN.DE Invesco MSCI China All Shares Stock Connect UCITS ETF Acc | -0.35% | 13.01% | 25.16% | -15.29% | -18.40% | -11.12% |
ICGA.DE iShares MSCI China UCITS ETF USD Acc | -6.86% | 16.64% | 27.28% | -14.71% | -15.17% | -21.45% |
Correlation
The correlation between MCHN.DE and ICGA.DE is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021 | 0.96 |
The correlation between MCHN.DE and ICGA.DE has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
MCHN.DE vs. ICGA.DE — Risk / Return Rank
MCHN.DE
ICGA.DE
MCHN.DE vs. ICGA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI China All Shares Stock Connect UCITS ETF Acc (MCHN.DE) and iShares MSCI China UCITS ETF USD Acc (ICGA.DE). 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.
| MCHN.DE | ICGA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.04 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 0.16 | +0.96 |
| Martin ratioReturn relative to average drawdown | 2.63 | 0.34 | +2.29 |
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
| MCHN.DE | ICGA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 0.15 | +0.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.12 | -0.15 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | 0.05 | -0.15 |
Drawdowns
MCHN.DE vs. ICGA.DE - Drawdown Comparison
The maximum MCHN.DE drawdown since its inception was -45.79%, smaller than the maximum ICGA.DE drawdown of -55.95%. Use the drawdown chart below to compare losses from any high point for MCHN.DE and ICGA.DE.
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Drawdown Indicators
| MCHN.DE | ICGA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.79% | -55.95% | +10.16% |
Max Drawdown (1Y)Largest decline over 1 year | -11.21% | -16.84% | +5.63% |
Max Drawdown (3Y)Largest decline over 3 years | -23.24% | -24.41% | +1.17% |
Max Drawdown (5Y)Largest decline over 5 years | -45.54% | -49.32% | +3.78% |
Current DrawdownCurrent decline from peak | -16.30% | -32.56% | +16.26% |
Average DrawdownAverage peak-to-trough decline | -24.07% | -28.80% | +4.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.81% | 8.08% | -3.27% |
Volatility
MCHN.DE vs. ICGA.DE - Volatility Comparison
The current volatility for Invesco MSCI China All Shares Stock Connect UCITS ETF Acc (MCHN.DE) is 6.52%, while iShares MSCI China UCITS ETF USD Acc (ICGA.DE) has a volatility of 7.19%. This indicates that MCHN.DE experiences smaller price fluctuations and is considered to be less risky than ICGA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCHN.DE | ICGA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.52% | 7.19% | -0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 11.75% | 13.31% | -1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.86% | 18.64% | -1.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.04% | 27.66% | -2.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.77% | 26.97% | -2.20% |
MCHN.DE vs. ICGA.DE - Expense Ratio Comparison
MCHN.DE has a 0.35% expense ratio, which is higher than ICGA.DE's 0.28% expense ratio.
Dividends
MCHN.DE vs. ICGA.DE - Dividend Comparison
Neither MCHN.DE nor ICGA.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, MCHN.DE and ICGA.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, ICGA.DE is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICGA.DE is cheaper with a 0.28% expense ratio, compared with 0.35% for MCHN.DE.
MCHN.DE tracks MSCI China All Shares Stock Connect Select, while ICGA.DE tracks MSCI China. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.35% for MCHN.DE and 0.28% for ICGA.DE.
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