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TCHI vs. EWH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TCHI vs. EWH

Last updated Jun 4, 2026

TCHI (iShares MSCI China Multisector Tech ETF) and EWH (iShares MSCI Hong Kong ETF) are both exchange-traded funds - TCHI is a Technology Equities fund tracking the MSCI China Technology Sub-Industries Select Capped Index - Benchmark TR Net, while EWH is a Asia Pacific Equities fund tracking the MSCI Hong Kong Index. Both are passively managed. Over the past 3 years, TCHI returned 17.38%/yr vs 9.92%/yr for EWH. A 0.68 correlation means they provide meaningful diversification when combined. TCHI charges 0.59%/yr vs 0.49%/yr for EWH.

Performance

TCHI vs. EWH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI China Multisector Tech ETF (TCHI) and iShares MSCI Hong Kong ETF (EWH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TCHI achieves a 11.01% return, which is significantly higher than EWH's 7.34% return.

TCHI

1D
-0.54%
1M
9.28%
YTD
11.01%
6M
11.70%
1Y
44.38%
3Y*
17.38%
5Y*
—
10Y*
—

EWH

1D
-1.55%
1M
-2.69%
YTD
7.34%
6M
5.91%
1Y
24.11%
3Y*
9.92%
5Y*
0.04%
10Y*
4.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TCHI vs. EWH - Yearly Performance Comparison

2026 (YTD)2025202420232022
TCHI
iShares MSCI China Multisector Tech ETF		11.01%33.13%9.09%-5.61%-24.32%
EWH
iShares MSCI Hong Kong ETF		7.34%34.50%0.00%-13.87%-9.35%

Correlation

The correlation between TCHI and EWH is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.50

Correlation (3Y)
Calculated over the trailing 3-year period

0.66

Correlation (All Time)
Calculated using the full available price history since Feb 2, 2022

0.68

The correlation between TCHI and EWH shifts across timeframes, from 0.50 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.

TCHI vs. EWH - Sectors Allocation Comparison

Sectors
TCHI
EWH

Technology

56.0%

-

Consumer Cyclical

15.8%
3.7%

Industrials

13.5%
16.6%

Communication Services

10.0%
1.7%

Consumer Defensive

2.5%
2.7%

Energy

1.0%

-

Financial Services

0.6%
45.4%

Basic Materials

0.3%

-

Healthcare

-

-

Real Estate

-

18.7%

Utilities

-

11.2%

Technology

TCHI
56.0%
EWH

-

Consumer Cyclical

TCHI
15.8%
EWH
3.7%

Industrials

TCHI
13.5%
EWH
16.6%

Communication Services

TCHI
10.0%
EWH
1.7%

Consumer Defensive

TCHI
2.5%
EWH
2.7%

Energy

TCHI
1.0%
EWH

-

Financial Services

TCHI
0.6%
EWH
45.4%

Basic Materials

TCHI
0.3%
EWH

-

Healthcare

TCHI

-

EWH

-

Real Estate

TCHI

-

EWH
18.7%

Utilities

TCHI

-

EWH
11.2%

Compare stocks, funds, or ETFs

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

iShares MSCI China Multisector Tech ETF

iShares MSCI Hong Kong ETF

Often compared with TCHI:
TCHI vs. CQQQTCHI vs. KWEBTCHI vs. MCHITCHI vs. KTECTCHI vs. MCTS.LTCHI vs. FXITCHI vs. CNYA
Often compared with EWH:
EWH vs. MCHIEWH vs. FXIEWH vs. EWSEWH vs. EWYEWH vs. EWTEWH vs. EWJEWH vs. EPP

Return for Risk

TCHI vs. EWH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TCHI
TCHI Risk / Return Rank: 4444
Overall Rank
TCHI Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
TCHI Sortino Ratio Rank: 4848
Sortino Ratio Rank
TCHI Omega Ratio Rank: 4747
Omega Ratio Rank
TCHI Calmar Ratio Rank: 4343
Calmar Ratio Rank
TCHI Martin Ratio Rank: 3131
Martin Ratio Rank
EWH
EWH Risk / Return Rank: 4646
Overall Rank
EWH Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
EWH Sortino Ratio Rank: 4141
Sortino Ratio Rank
EWH Omega Ratio Rank: 3939
Omega Ratio Rank
EWH Calmar Ratio Rank: 6262
Calmar Ratio Rank
EWH Martin Ratio Rank: 4747
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.

TCHI vs. EWH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China Multisector Tech ETF (TCHI) and iShares MSCI Hong Kong ETF (EWH). 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.

TCHIEWHDifference
Sharpe ratioReturn per unit of total volatility
1.74
1.49

+0.25

Sortino ratioReturn per unit of downside risk
2.39
2.13

+0.26

Omega ratioGain probability vs. loss probability

1.30

1.26

+0.04

Calmar ratioReturn relative to maximum drawdown

2.15

3.10

-0.95

Martin ratioReturn relative to average drawdown

4.74

7.81

-3.07

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TCHI vs. EWH - Sharpe Ratio Comparison

The current TCHI Sharpe Ratio is 1.74, which is comparable to the EWH Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of TCHI and EWH, 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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Sharpe Ratios by Period

TCHIEWHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.74

1.49

+0.25

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.00

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.25

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.10

0.18

-0.08

Drawdowns

TCHI vs. EWH - Drawdown Comparison

The maximum TCHI drawdown since its inception was -43.96%, smaller than the maximum EWH drawdown of -66.44%. Use the drawdown chart below to compare losses from any high point for TCHI and EWH.

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Drawdown Indicators

TCHIEWHDifference

Max Drawdown

Largest peak-to-trough decline

-43.96%

-66.44%

+22.48%

Max Drawdown (1Y)

Largest decline over 1 year

-20.73%

-7.81%

-12.92%

Max Drawdown (3Y)

Largest decline over 3 years

-27.78%

-24.93%

-2.85%

Max Drawdown (5Y)

Largest decline over 5 years

—

-41.46%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-42.71%

—

Current Drawdown

Current decline from peak

-2.88%

-7.09%

+4.21%

Average Drawdown

Average peak-to-trough decline

-21.49%

-19.48%

-2.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.39%

3.09%

+6.30%

Volatility

TCHI vs. EWH - Volatility Comparison

iShares MSCI China Multisector Tech ETF (TCHI) has a higher volatility of 9.03% compared to iShares MSCI Hong Kong ETF (EWH) at 5.00%. This indicates that TCHI's price experiences larger fluctuations and is considered to be riskier than EWH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TCHIEWHDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.03%

5.00%

+4.03%

Volatility (6M)

Calculated over the trailing 6-month period

17.79%

11.71%

+6.08%

Volatility (1Y)

Calculated over the trailing 1-year period

25.64%

16.26%

+9.38%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

34.88%

20.00%

+14.88%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

34.88%

19.55%

+15.33%

TCHI vs. EWH - Expense Ratio Comparison

TCHI has a 0.59% expense ratio, which is higher than EWH's 0.49% expense ratio.

Dividends

TCHI vs. EWH - Dividend Comparison

TCHI's dividend yield for the trailing twelve months is around 2.19%, less than EWH's 4.84% yield.

PositionTTM20252024202320222021202020192018201720162015
EWH
iShares MSCI Hong Kong ETF		4.84%5.20%4.17%4.28%2.91%2.78%2.56%2.71%2.93%4.35%3.08%2.63%
TCHI
iShares MSCI China Multisector Tech ETF		2.19%2.44%2.49%4.28%1.07%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

TCHI and EWH have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TCHI has higher volatility (9.03%) compared to EWH (5.00%). In terms of maximum drawdown, TCHI dropped -43.96% vs EWH's -66.44%.

On 3-year performance, TCHI leads with 17.38% vs 9.92% for EWH. On fees, EWH is cheaper at 0.49% per year. On volatility, EWH has been the lower-risk option at 5.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, TCHI has performed better with a 17.38% return vs 9.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EWH is cheaper with a 0.49% expense ratio, compared with 0.59% for TCHI.

EWH has the higher dividend yield at 4.84%, compared with 2.19% for TCHI.

TCHI is categorized as Technology Equities, while EWH is Asia Pacific Equities. TCHI tracks MSCI China Technology Sub-Industries Select Capped Index - Benchmark TR Net, while EWH tracks MSCI Hong Kong Index. Their fees differ too: 0.59% for TCHI and 0.49% for EWH.

TCHI currently has the higher Sharpe Ratio (1.74 vs 1.49), 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.

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