PGJ vs. MCHI
Compare and contrast key facts about Invesco Golden Dragon China ETF (PGJ) and iShares MSCI China ETF (MCHI).
PGJ and MCHI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PGJ is a passively managed fund by Invesco that tracks the performance of the Halter USX China Index. It was launched on Dec 9, 2004. MCHI is a passively managed fund by iShares that tracks the performance of the MSCI China Index. It was launched on Mar 29, 2011. Both PGJ and MCHI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PGJ or MCHI.
Key characteristics
| PGJ | MCHI | |
|---|---|---|
| YTD Return | 3.71% | 17.99% |
| 1Y Return | 6.90% | 14.75% |
| 3Y Return (Ann) | -16.13% | -10.28% |
| 5Y Return (Ann) | -6.35% | -2.42% |
| 10Y Return (Ann) | -0.71% | 1.32% |
| Sharpe Ratio | 0.22 | 0.51 |
| Sortino Ratio | 0.59 | 0.95 |
| Omega Ratio | 1.07 | 1.12 |
| Calmar Ratio | 0.10 | 0.26 |
| Martin Ratio | 0.61 | 1.51 |
| Ulcer Index | 12.20% | 10.50% |
| Daily Std Dev | 34.48% | 31.35% |
| Max Drawdown | -78.37% | -62.84% |
| Current Drawdown | -67.15% | -47.31% |
Correlation
The correlation between PGJ and MCHI is 0.81, 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.
Performance
PGJ vs. MCHI - Performance Comparison
In the year-to-date period, PGJ achieves a 3.71% return, which is significantly lower than MCHI's 17.99% return. Over the past 10 years, PGJ has underperformed MCHI with an annualized return of -0.71%, while MCHI has yielded a comparatively higher 1.32% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PGJ vs. MCHI - Expense Ratio Comparison
PGJ has a 0.70% expense ratio, which is higher than MCHI's 0.59% expense ratio.
Risk-Adjusted Performance
PGJ vs. MCHI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Golden Dragon China ETF (PGJ) and iShares MSCI China ETF (MCHI). 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.
Dividends
PGJ vs. MCHI - Dividend Comparison
PGJ's dividend yield for the trailing twelve months is around 6.08%, more than MCHI's 2.48% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGJ Invesco Golden Dragon China ETF | 6.08% | 2.50% | 0.84% | 0.00% | 0.31% | 0.17% | 0.31% | 2.05% | 1.94% | 0.37% | 0.89% | 0.96% |
MCHI iShares MSCI China ETF | 2.48% | 3.49% | 2.16% | 1.04% | 1.04% | 1.45% | 1.60% | 1.56% | 1.66% | 2.76% | 2.35% | 2.37% |
Drawdowns
PGJ vs. MCHI - Drawdown Comparison
The maximum PGJ drawdown since its inception was -78.37%, which is greater than MCHI's maximum drawdown of -62.84%. Use the drawdown chart below to compare losses from any high point for PGJ and MCHI. For additional features, visit the drawdowns tool.
Volatility
PGJ vs. MCHI - Volatility Comparison
Invesco Golden Dragon China ETF (PGJ) and iShares MSCI China ETF (MCHI) have volatilities of 12.41% and 12.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.