MCHS vs. CXSE
Compare and contrast key facts about Matthews China Discovery Active ETF (MCHS) and WisdomTree China ex-State-Owned Enterprises Fund (CXSE).
MCHS and CXSE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MCHS is an actively managed fund by Matthews. It was launched on Jan 10, 2024. CXSE is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree China ex-State-Owned Enterprises Index. It was launched on Sep 19, 2012.
Performance
MCHS vs. CXSE - Performance Comparison
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MCHS vs. CXSE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MCHS Matthews China Discovery Active ETF | 13.36% | 31.19% | 6.53% |
CXSE WisdomTree China ex-State-Owned Enterprises Fund | -5.37% | 37.00% | 15.57% |
Returns By Period
In the year-to-date period, MCHS achieves a 13.36% return, which is significantly higher than CXSE's -5.37% return.
MCHS
- 1D
- 2.32%
- 1M
- -9.45%
- YTD
- 13.36%
- 6M
- 9.20%
- 1Y
- 35.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CXSE
- 1D
- 0.30%
- 1M
- -3.35%
- YTD
- -5.37%
- 6M
- -14.60%
- 1Y
- 13.26%
- 3Y*
- 4.84%
- 5Y*
- -9.25%
- 10Y*
- 6.57%
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MCHS vs. CXSE - Expense Ratio Comparison
MCHS has a 0.89% expense ratio, which is higher than CXSE's 0.32% expense ratio.
Return for Risk
MCHS vs. CXSE — Risk / Return Rank
MCHS
CXSE
MCHS vs. CXSE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Matthews China Discovery Active ETF (MCHS) and WisdomTree China ex-State-Owned Enterprises Fund (CXSE). 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.
| MCHS | CXSE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.37 | 0.53 | +0.84 |
Sortino ratioReturn per unit of downside risk | 1.94 | 0.86 | +1.08 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.12 | +0.17 |
Calmar ratioReturn relative to maximum drawdown | 2.23 | 0.77 | +1.47 |
Martin ratioReturn relative to average drawdown | 8.17 | 1.80 | +6.36 |
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
| MCHS | CXSE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.37 | 0.53 | +0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.29 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.23 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 0.18 | +0.66 |
Correlation
The correlation between MCHS and CXSE is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MCHS vs. CXSE - Dividend Comparison
MCHS's dividend yield for the trailing twelve months is around 3.14%, more than CXSE's 2.12% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MCHS Matthews China Discovery Active ETF | 3.14% | 3.56% | 5.48% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CXSE WisdomTree China ex-State-Owned Enterprises Fund | 2.12% | 1.95% | 1.70% | 1.71% | 1.55% | 0.86% | 0.54% | 0.96% | 1.49% | 1.24% | 1.39% | 2.50% |
Drawdowns
MCHS vs. CXSE - Drawdown Comparison
The maximum MCHS drawdown since its inception was -23.75%, smaller than the maximum CXSE drawdown of -70.01%. Use the drawdown chart below to compare losses from any high point for MCHS and CXSE.
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Drawdown Indicators
| MCHS | CXSE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.75% | -70.01% | +46.26% |
Max Drawdown (1Y)Largest decline over 1 year | -15.89% | -17.70% | +1.81% |
Max Drawdown (5Y)Largest decline over 5 years | — | -64.47% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.01% | — |
Current DrawdownCurrent decline from peak | -9.45% | -49.38% | +39.93% |
Average DrawdownAverage peak-to-trough decline | -7.98% | -27.59% | +19.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.34% | 7.64% | -3.30% |
Volatility
MCHS vs. CXSE - Volatility Comparison
Matthews China Discovery Active ETF (MCHS) has a higher volatility of 7.12% compared to WisdomTree China ex-State-Owned Enterprises Fund (CXSE) at 6.47%. This indicates that MCHS's price experiences larger fluctuations and is considered to be riskier than CXSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCHS | CXSE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.12% | 6.47% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 15.31% | 15.27% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.73% | 24.92% | +0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.87% | 32.28% | -4.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.87% | 28.64% | -0.77% |