MCHS vs. CAS
MCHS (Matthews China Discovery Active ETF) and CAS (Simplify China A Shares PLUS Income ETF) are both China Equities funds. Both are actively managed. At a 0.37 correlation, their price movements are largely independent. MCHS charges 0.89%/yr vs 0.88%/yr for CAS.
Performance
MCHS vs. CAS - Performance Comparison
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Returns By Period
MCHS
- 1D
- -4.50%
- 1M
- 6.46%
- YTD
- 51.63%
- 6M
- 50.45%
- 1Y
- 81.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CAS
- 1D
- -1.70%
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MCHS vs. CAS - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
MCHS Matthews China Discovery Active ETF | 5.22% |
CAS Simplify China A Shares PLUS Income ETF | -5.11% |
Correlation
The correlation between MCHS and CAS is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 4, 2026 | 0.37 |
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Return for Risk
MCHS vs. CAS — Risk / Return Rank
MCHS
CAS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MCHS vs. CAS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Matthews China Discovery Active ETF (MCHS) and Simplify China A Shares PLUS Income ETF (CAS). 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.
| MCHS | CAS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.55 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 6.71 | — | — |
| Martin ratioReturn relative to average drawdown | 19.57 | — | — |
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Drawdowns
MCHS vs. CAS - Drawdown Comparison
The maximum MCHS drawdown since its inception was -23.75%, which is greater than CAS's maximum drawdown of -5.11%. Use the drawdown chart below to compare losses from any high point for MCHS and CAS.
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Drawdown Indicators
| MCHS | CAS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.75% | -5.11% | -18.64% |
Max Drawdown (1Y)Largest decline over 1 year | -12.15% | — | — |
Current DrawdownCurrent decline from peak | -4.50% | -5.11% | +0.61% |
Average DrawdownAverage peak-to-trough decline | -7.53% | -3.16% | -4.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | — | — |
Volatility
MCHS vs. CAS - Volatility Comparison
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Volatility by Period
| MCHS | CAS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.48% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 21.61% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 25.11% | 13.51% | +11.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.95% | 13.51% | +15.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.95% | 13.51% | +15.44% |
MCHS vs. CAS - Expense Ratio Comparison
MCHS has a 0.89% expense ratio, which is higher than CAS's 0.88% expense ratio.
Dividends
MCHS vs. CAS - Dividend Comparison
MCHS's dividend yield for the trailing twelve months is around 2.35%, while CAS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CAS Simplify China A Shares PLUS Income ETF | 0.00% | 0.00% | 0.00% |
MCHS Matthews China Discovery Active ETF | 2.35% | 3.56% | 5.48% |
Frequently Asked Questions
MCHS and CAS have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CAS is cheaper at 0.88% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CAS is cheaper with a 0.88% expense ratio, compared with 0.89% for MCHS.
MCHS has the higher dividend yield at 2.35%, compared with 0.00% for CAS.
They also come from different issuers: Matthews and Simplify. Their fees differ too: 0.89% for MCHS and 0.88% for CAS.
Find the right allocation for MCHS and CAS
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