TCHI vs. IYW
TCHI (iShares MSCI China Multisector Tech ETF) and IYW (iShares U.S. Technology ETF) are both Technology Equities funds from iShares - TCHI tracks the MSCI China Technology Sub-Industries Select Capped Index - Benchmark TR Net while IYW tracks the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. Over the past 3 years, TCHI returned 17.55%/yr vs 35.17%/yr for IYW. At a 0.41 correlation, their price movements are largely independent. TCHI charges 0.59%/yr vs 0.38%/yr for IYW.
Performance
TCHI vs. IYW - Performance Comparison
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Returns By Period
In the year-to-date period, TCHI achieves a 10.88% return, which is significantly lower than IYW's 28.46% return.
TCHI
- 1D
- -0.12%
- 1M
- 9.04%
- YTD
- 10.88%
- 6M
- 10.91%
- 1Y
- 41.46%
- 3Y*
- 17.55%
- 5Y*
- —
- 10Y*
- —
IYW
- 1D
- -0.44%
- 1M
- 13.87%
- YTD
- 28.46%
- 6M
- 27.22%
- 1Y
- 58.25%
- 3Y*
- 35.17%
- 5Y*
- 22.76%
- 10Y*
- 26.00%
TCHI vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TCHI iShares MSCI China Multisector Tech ETF | 10.88% | 33.13% | 9.09% | -5.61% | -24.32% |
IYW iShares U.S. Technology ETF | 28.46% | 25.38% | 30.25% | 65.44% | -29.30% |
Correlation
The correlation between TCHI and IYW is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2022 | 0.41 |
The correlation between TCHI and IYW shifts across timeframes, from 0.37 (3 years) to 0.49 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TCHI vs. IYW — Risk / Return Rank
TCHI
IYW
TCHI vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China Multisector Tech ETF (TCHI) and iShares U.S. Technology ETF (IYW). 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.
| TCHI | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.47 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 3.29 | -1.28 |
| Martin ratioReturn relative to average drawdown | 4.43 | 10.76 | -6.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TCHI | IYW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.63 | 2.92 | -1.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.88 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.04 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.35 | -0.26 |
Drawdowns
TCHI vs. IYW - Drawdown Comparison
The maximum TCHI drawdown since its inception was -43.96%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for TCHI and IYW.
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Drawdown Indicators
| TCHI | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.96% | -81.90% | +37.94% |
Max Drawdown (1Y)Largest decline over 1 year | -20.73% | -17.81% | -2.92% |
Max Drawdown (3Y)Largest decline over 3 years | -27.78% | -26.47% | -1.31% |
Max Drawdown (5Y)Largest decline over 5 years | — | -39.44% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.44% | — |
Current DrawdownCurrent decline from peak | -2.99% | -1.35% | -1.64% |
Average DrawdownAverage peak-to-trough decline | -21.48% | -34.65% | +13.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.39% | 5.43% | +3.96% |
Volatility
TCHI vs. IYW - Volatility Comparison
iShares MSCI China Multisector Tech ETF (TCHI) has a higher volatility of 9.04% compared to iShares U.S. Technology ETF (IYW) at 6.28%. This indicates that TCHI's price experiences larger fluctuations and is considered to be riskier than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TCHI | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.04% | 6.28% | +2.76% |
Volatility (6M)Calculated over the trailing 6-month period | 17.76% | 15.84% | +1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.64% | 20.07% | +5.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.87% | 25.86% | +9.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.87% | 25.09% | +9.78% |
TCHI vs. IYW - Expense Ratio Comparison
TCHI has a 0.59% expense ratio, which is higher than IYW's 0.38% expense ratio.
Dividends
TCHI vs. IYW - Dividend Comparison
TCHI's dividend yield for the trailing twelve months is around 2.20%, more than IYW's 0.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
TCHI iShares MSCI China Multisector Tech ETF | 2.20% | 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 IYW have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TCHI has higher volatility (9.04%) compared to IYW (6.28%). In terms of maximum drawdown, TCHI dropped -43.96% vs IYW's -81.90%.
On 3-year performance, IYW leads with 35.17% vs 17.55% for TCHI. On fees, IYW is cheaper at 0.38% per year. On volatility, IYW has been the lower-risk option at 6.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IYW has performed better with a 35.17% return vs 17.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYW is cheaper with a 0.38% expense ratio, compared with 0.59% for TCHI.
TCHI has the higher dividend yield at 2.20%, compared with 0.11% for IYW.
TCHI tracks MSCI China Technology Sub-Industries Select Capped Index - Benchmark TR Net, while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. Their fees differ too: 0.59% for TCHI and 0.38% for IYW.
IYW currently has the higher Sharpe Ratio (2.92 vs 1.63), 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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