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PMIF-U.TO vs. MCHI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PMIF-U.TO vs. MCHI

Last updated Jun 26, 2026

PMIF-U.TO (PIMCO Monthly Income Fund (Canada)) and MCHI (iShares MSCI China ETF) are both exchange-traded funds - PMIF-U.TO is a Multisector Bonds fund actively managed by PIMCO, while MCHI is a China Equities fund tracking the MSCI China Index. PMIF-U.TO is actively managed, while MCHI is passively managed. Over the past year, PMIF-U.TO returned 7.99% vs -6.82% for MCHI. At a 0.10 correlation, their price movements are largely independent. PMIF-U.TO charges 0.84%/yr vs 0.59%/yr for MCHI.

Performance

PMIF-U.TO vs. MCHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) and iShares MSCI China ETF (MCHI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PMIF-U.TO achieves a 1.93% return, which is significantly higher than MCHI's -14.90% return.

PMIF-U.TO

1D
0.20%
1M
1.27%
YTD
1.93%
6M
2.02%
1Y
7.99%
3Y*
—
5Y*
—
10Y*
—

MCHI

1D
-1.26%
1M
-8.88%
YTD
-14.90%
6M
-15.66%
1Y
-6.82%
3Y*
7.30%
5Y*
-7.48%
10Y*
4.19%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PMIF-U.TO vs. MCHI - Yearly Performance Comparison

2026 (YTD)202520242023
PMIF-U.TO
PIMCO Monthly Income Fund (Canada)		1.93%10.75%5.77%0.26%
MCHI
iShares MSCI China ETF		-14.90%31.04%17.73%3.06%

Correlation

The correlation between PMIF-U.TO and MCHI is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.14

Correlation (All Time)
Calculated using the full available price history since Dec 28, 2023

0.10

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

PIMCO Monthly Income Fund (Canada)

iShares MSCI China ETF

Often compared with PMIF-U.TO:
PMIF-U.TO vs. PMIF.TOPMIF-U.TO vs. CORE.TOPMIF-U.TO vs. EVTRPMIF-U.TO vs. ICVTPMIF-U.TO vs. BLOKPMIF-U.TO vs. SPYPMIF-U.TO vs. PDI
Often compared with MCHI:
MCHI vs. FXIMCHI vs. KWEBMCHI vs. CQQQMCHI vs. GXCMCHI vs. ASHRMCHI vs. FLCHMCHI vs. CNYA

Return for Risk

PMIF-U.TO vs. MCHI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PMIF-U.TO
PMIF-U.TO Risk / Return Rank: 7676
Overall Rank
PMIF-U.TO Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
PMIF-U.TO Sortino Ratio Rank: 8888
Sortino Ratio Rank
PMIF-U.TO Omega Ratio Rank: 8585
Omega Ratio Rank
PMIF-U.TO Calmar Ratio Rank: 6060
Calmar Ratio Rank
PMIF-U.TO Martin Ratio Rank: 6565
Martin Ratio Rank
MCHI
MCHI Risk / Return Rank: 66
Overall Rank
MCHI Sharpe Ratio Rank: 66
Sharpe Ratio Rank
MCHI Sortino Ratio Rank: 66
Sortino Ratio Rank
MCHI Omega Ratio Rank: 66
Omega Ratio Rank
MCHI Calmar Ratio Rank: 77
Calmar Ratio Rank
MCHI Martin Ratio Rank: 66
Martin Ratio Rank
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.

PMIF-U.TO vs. MCHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) 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.

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.

PMIF-U.TOMCHIDifference
Sharpe ratioReturn per unit of total volatility
2.36
-0.34

+2.70

Sortino ratioReturn per unit of downside risk
3.47
-0.35

+3.82

Omega ratioGain probability vs. loss probability

1.45

0.96

+0.49

Calmar ratioReturn relative to maximum drawdown

2.58

-0.30

+2.88

Martin ratioReturn relative to average drawdown

10.40

-0.72

+11.12

PMIF-U.TO vs. MCHI - Sharpe Ratio Comparison

The current PMIF-U.TO Sharpe Ratio is 2.36, which is higher than the MCHI Sharpe Ratio of -0.34. The chart below compares the historical Sharpe Ratios of PMIF-U.TO and MCHI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

PMIF-U.TO vs. MCHI - Drawdown Comparison

The maximum PMIF-U.TO drawdown since its inception was -3.11%, smaller than the maximum MCHI drawdown of -62.95%. Use the drawdown chart below to compare losses from any high point for PMIF-U.TO and MCHI.

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Drawdown Indicators

PMIF-U.TOMCHIDifference

Max Drawdown

Largest peak-to-trough decline

-3.11%

-62.95%

+59.84%

Max Drawdown (1Y)

Largest decline over 1 year

-3.11%

-22.76%

+19.65%

Max Drawdown (3Y)

Largest decline over 3 years

—

-25.85%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-56.98%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-62.95%

—

Current Drawdown

Current decline from peak

0.00%

-41.97%

+41.97%

Average Drawdown

Average peak-to-trough decline

-0.54%

-24.57%

+24.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.77%

9.49%

-8.72%

Volatility

PMIF-U.TO vs. MCHI - Volatility Comparison

The current volatility for PIMCO Monthly Income Fund (Canada) (PMIF-U.TO) is 1.17%, while iShares MSCI China ETF (MCHI) has a volatility of 6.05%. This indicates that PMIF-U.TO experiences smaller price fluctuations and is considered to be less risky than MCHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PMIF-U.TOMCHIDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.17%

6.05%

-4.88%

Volatility (6M)

Calculated over the trailing 6-month period

2.62%

14.90%

-12.28%

Volatility (1Y)

Calculated over the trailing 1-year period

3.40%

20.15%

-16.75%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.88%

30.74%

-26.86%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.88%

27.34%

-23.46%

PMIF-U.TO vs. MCHI - Expense Ratio Comparison

PMIF-U.TO has a 0.84% expense ratio, which is higher than MCHI's 0.59% expense ratio.

Dividends

PMIF-U.TO vs. MCHI - Dividend Comparison

PMIF-U.TO's dividend yield for the trailing twelve months is around 5.50%, more than MCHI's 2.16% yield.

PositionTTM20252024202320222021202020192018201720162015
MCHI
iShares MSCI China ETF		2.16%2.12%2.31%2.66%1.78%1.04%1.04%1.45%1.60%1.56%1.66%2.76%
PMIF-U.TO
PIMCO Monthly Income Fund (Canada)		5.50%5.50%6.78%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

PMIF-U.TO and MCHI have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

MCHI is cheaper with a 0.59% expense ratio, compared with 0.84% for PMIF-U.TO.

PMIF-U.TO is categorized as Multisector Bonds, while MCHI is China Equities. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.84% for PMIF-U.TO and 0.59% for MCHI.

Portfolio Optimizer

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