MCHS vs. DRAG

Last updated Jun 3, 2026

MCHS (Matthews China Discovery Active ETF) and DRAG (Roundhill China Dragons ETF) are both China Equities funds. Both are actively managed. MCHS charges 0.89%/yr vs 0.59%/yr for DRAG.

Performance

MCHS vs. DRAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews China Discovery Active ETF (MCHS) and Roundhill China Dragons ETF (DRAG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MCHS

• 1D: 1.99%
• 1M: 8.90%
• YTD: 44.06%
• 6M: 45.71%
• 1Y: 75.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DRAG

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MCHS vs. DRAG - Yearly Performance Comparison

	2026 (YTD)
MCHS Matthews China Discovery Active ETF	30.09%
DRAG Roundhill China Dragons ETF	0.00%

MCHS vs. DRAG - Sectors Allocation Comparison

Sectors	MCHS	DRAG
Industrials	32.9%	-
Technology	31.5%	10.2%
Consumer Cyclical	12.5%	72.4%
Basic Materials	9.0%	-
Healthcare	4.4%	-
Energy	3.9%	-
Real Estate	3.7%	-
Utilities	2.1%	-
Communication Services	1.2%	17.3%
Consumer Defensive	0.8%	-
Financial Services	-	-

Return for Risk

MCHS vs. DRAG — Risk / Return Rank

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

MCHS

MCHS Risk / Return Rank: 89
MCHS Sharpe Ratio Rank: 92
MCHS Sortino Ratio Rank: 89
MCHS Omega Ratio Rank: 88
MCHS Calmar Ratio Rank: 92
MCHS Martin Ratio Rank: 87

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.

MCHS vs. DRAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews China Discovery Active ETF (MCHS) and Roundhill China Dragons ETF (DRAG). 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	DRAG	Difference
Sharpe ratio Return per unit of total volatility	3.35	—	—
Sortino ratio Return per unit of downside risk	4.16	—	—
Omega ratio Gain probability vs. loss probability	1.56	—	—
Calmar ratio Return relative to maximum drawdown	6.28	—	—
Martin ratio Return relative to average drawdown	19.01	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MCHS	DRAG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	—	—

Drawdowns

MCHS vs. DRAG - Drawdown Comparison

The maximum MCHS drawdown since its inception was -23.75%, which is greater than DRAG's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for MCHS and DRAG.

Drawdown Indicators

	MCHS	DRAG	Difference
Max Drawdown Largest peak-to-trough decline	-23.75%	0.00%	-23.75%
Max Drawdown (1Y) Largest decline over 1 year	-12.15%	—	—
Current Drawdown Current decline from peak	-3.29%	0.00%	-3.29%
Average Drawdown Average peak-to-trough decline	-7.62%	0.00%	-7.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.01%	—	—

Volatility

Volatility by Period

	MCHS	DRAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.79%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.21%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.74%	0.00%	+22.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.26%	0.00%	+28.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.26%	0.00%	+28.26%

MCHS vs. DRAG - Expense Ratio Comparison

MCHS has a 0.89% expense ratio, which is higher than DRAG's 0.59% expense ratio.

Dividends

MCHS vs. DRAG - Dividend Comparison

MCHS's dividend yield for the trailing twelve months is around 2.47%, while DRAG has not paid dividends to shareholders.

Position	TTM	2025	2024
DRAG Roundhill China Dragons ETF	0.00%	0.00%	0.00%
MCHS Matthews China Discovery Active ETF	2.47%	3.56%	5.48%

Frequently Asked Questions

Which ETF is better, MCHS or DRAG?

On fees, DRAG is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MCHS or DRAG?

DRAG is cheaper with a 0.59% expense ratio, compared with 0.89% for MCHS.

Which ETF pays a higher dividend yield, MCHS or DRAG?

MCHS has the higher dividend yield at 2.47%, compared with 0.00% for DRAG.

What is the main difference between MCHS and DRAG?

They also come from different issuers: Matthews and Roundhill. Their fees differ too: 0.89% for MCHS and 0.59% for DRAG.