MCHS vs. IVV

Last updated Jul 14, 2026

MCHS (Matthews China Discovery Active ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - MCHS is a China Equities fund actively managed by Matthews, while IVV is a S&P 500 fund tracking the S&P 500 Index. MCHS is actively managed, while IVV is passively managed. Over the past year, MCHS returned 57.44% vs 21.57% for IVV. At a 0.36 correlation, their price movements are largely independent. MCHS charges 0.89%/yr vs 0.03%/yr for IVV.

Performance

MCHS vs. IVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews China Discovery Active ETF (MCHS) and iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MCHS achieves a 38.84% return, which is significantly higher than IVV's 10.46% return.

MCHS

• 1D: -4.85%
• 1M: 1.25%
• 6M: 30.55%
• YTD: 38.84%
• 1Y: 57.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVV

• 1D: -0.73%
• 1M: 1.27%
• 6M: 8.36%
• YTD: 10.46%
• 1Y: 21.57%
• 3Y*: 20.16%
• 5Y*: 13.01%
• 10Y*: 15.14%

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

MCHS vs. IVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MCHS Matthews China Discovery Active ETF	38.84%	31.19%	6.53%
IVV iShares Core S&P 500 ETF	10.46%	17.85%	24.63%

Correlation

The correlation between MCHS and IVV is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.37

MCHS vs. IVV - Sectors Allocation Comparison

Sectors	MCHS	IVV
Technology	49.7%	39.0%
Industrials	27.8%	7.8%
Basic Materials	8.1%	1.7%
Energy	6.3%	3.1%
Consumer Cyclical	4.5%	9.9%
Utilities	2.1%	2.1%
Healthcare	2.1%	8.3%
Real Estate	1.6%	1.8%
Communication Services	1.2%	10.6%
Consumer Defensive	0.8%	4.5%
Financial Services	-	11.1%

Return for Risk

MCHS vs. IVV — Risk / Return Rank

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

MCHS

MCHS Risk / Return Rank: 81
MCHS Sharpe Ratio Rank: 82
MCHS Sortino Ratio Rank: 72
MCHS Omega Ratio Rank: 79
MCHS Calmar Ratio Rank: 88
MCHS Martin Ratio Rank: 82

IVV

IVV Risk / Return Rank: 66
IVV Sharpe Ratio Rank: 66
IVV Sortino Ratio Rank: 65
IVV Omega Ratio Rank: 66
IVV Calmar Ratio Rank: 61
IVV Martin Ratio Rank: 72

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. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews China Discovery Active ETF (MCHS) and iShares Core S&P 500 ETF (IVV). 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	IVV	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.72	+0.34
Sortino ratio: Return per unit of downside risk	2.60	2.38	+0.22
Omega ratio: Gain probability vs. loss probability	1.37	1.31	+0.06
Calmar ratio: Return relative to maximum drawdown	4.03	2.44	+1.59
Martin ratio: Return relative to average drawdown	12.66	10.60	+2.06

MCHS vs. IVV - Sharpe Ratio Comparison

The current MCHS Sharpe Ratio is 2.06, which is comparable to the IVV Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of MCHS and IVV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MCHS vs. IVV - Drawdown Comparison

The maximum MCHS drawdown since its inception was -23.75%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for MCHS and IVV.

Drawdown Indicators

	MCHS	IVV	Difference
Max Drawdown Largest peak-to-trough decline	-23.75%	-55.25%	+31.50%
Max Drawdown (1Y) Largest decline over 1 year	-14.32%	-8.89%	-5.43%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.75%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.53%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.90%	—
Current Drawdown Current decline from peak	-14.32%	-1.11%	-13.21%
Average Drawdown Average peak-to-trough decline	-7.51%	-10.74%	+3.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.55%	2.04%	+2.51%

Volatility

MCHS vs. IVV - Volatility Comparison

Matthews China Discovery Active ETF (MCHS) has a higher volatility of 16.37% compared to iShares Core S&P 500 ETF (IVV) at 4.32%. This indicates that MCHS's price experiences larger fluctuations and is considered to be riskier than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCHS	IVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.37%	4.32%	+12.05%
Volatility (6M) Calculated over the trailing 6-month period	24.99%	10.05%	+14.94%
Volatility (1Y) Calculated over the trailing 1-year period	28.02%	12.60%	+15.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.75%	17.01%	+12.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.75%	18.05%	+11.70%

MCHS vs. IVV - Expense Ratio Comparison

MCHS has a 0.89% expense ratio, which is higher than IVV's 0.03% expense ratio.

Dividends

MCHS vs. IVV - Dividend Comparison

MCHS's dividend yield for the trailing twelve months is around 2.57%, more than IVV's 1.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVV iShares Core S&P 500 ETF	1.09%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%
MCHS Matthews China Discovery Active ETF	2.57%	3.56%	5.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MCHS and IVV in my portfolio?

MCHS and IVV have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MCHS or IVV?

MCHS has higher volatility (16.37%) compared to IVV (4.32%). In terms of maximum drawdown, MCHS dropped -23.75% vs IVV's -55.25%.

Which ETF is better, MCHS or IVV?

On 1-year performance, MCHS leads with 57.44% vs 21.57% for IVV. On fees, IVV is cheaper at 0.03% per year. On volatility, IVV has been the lower-risk option at 4.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MCHS or IVV?

Over the 1-year period, MCHS has performed better with a 57.44% return vs 21.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MCHS or IVV?

IVV is cheaper with a 0.03% expense ratio, compared with 0.89% for MCHS.

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

MCHS has the higher dividend yield at 2.57%, compared with 1.09% for IVV.

What is the main difference between MCHS and IVV?

MCHS is categorized as China Equities, while IVV is S&P 500. They also come from different issuers: Matthews and iShares. Their fees differ too: 0.89% for MCHS and 0.03% for IVV.

Which has better risk-adjusted returns?

MCHS currently has the higher Sharpe Ratio (2.06 vs 1.72), 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.