TCHI vs. MCHI

Last updated Aug 5, 2026

TCHI (iShares MSCI China Multisector Tech ETF) and MCHI (iShares MSCI China 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 MCHI is a China Equities fund tracking the MSCI China Index. Both are passively managed. Over the past 3 years, TCHI returned 10.94%/yr vs 8.08%/yr for MCHI. Their correlation of 0.89 means they have usually moved in the same direction. Both charge a 0.59% expense ratio.

Performance

TCHI vs. MCHI - 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 China ETF (MCHI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TCHI achieves a 2.18% return, which is significantly higher than MCHI's -6.01% return.

TCHI

• 1D: 2.79%
• 1M: -4.16%
• 6M: -0.87%
• YTD: 2.18%
• 1Y: 16.31%
• 3Y*: 10.94%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 1.31%

MCHI

• 1D: 0.34%
• 1M: 10.17%
• 6M: -7.55%
• YTD: -6.01%
• 1Y: -0.55%
• 3Y*: 8.08%
• 5Y*: -2.78%
• 10Y*: 4.06%
• ALL TIME*: 2.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MCHI iShares MSCI China ETF	$131.82M	$143.06M	$173.02M
TCHI iShares MSCI China Multisector Tech ETF	$300.26K	$346.07K	$396.84K

TCHI vs. MCHI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TCHI iShares MSCI China Multisector Tech ETF	2.18%	33.13%	9.09%	-5.61%	-24.30%
MCHI iShares MSCI China ETF	-6.01%	31.04%	17.73%	-11.94%	-22.80%

Correlation

The correlation between TCHI and MCHI is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (All Time) Calculated using the full available price history since Feb 1, 2022	0.89

The correlation between TCHI and MCHI shifts across timeframes, from 0.78 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

TCHI vs. MCHI - Sectors Allocation Comparison

Sectors	TCHI	MCHI
Technology	52.9%	13.9%
Consumer Cyclical	16.2%	22.4%
Communication Services	15.8%	19.3%
Industrials	10.3%	5.4%
Consumer Defensive	2.4%	2.9%
Energy	0.7%	3.4%
Financial Services	0.6%	19.2%
Basic Materials	0.3%	5.1%
Healthcare	-	5.3%
Real Estate	-	1.5%
Utilities	-	1.6%

Return for Risk

TCHI vs. MCHI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TCHI

TCHI Risk / Return Rank: 23
TCHI Sharpe Ratio Rank: 23
TCHI Sortino Ratio Rank: 24
TCHI Omega Ratio Rank: 23
TCHI Calmar Ratio Rank: 24
TCHI Martin Ratio Rank: 21

MCHI

MCHI Risk / Return Rank: 10
MCHI Sharpe Ratio Rank: 10
MCHI Sortino Ratio Rank: 10
MCHI Omega Ratio Rank: 10
MCHI Calmar Ratio Rank: 10
MCHI Martin Ratio Rank: 10

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TCHI vs. MCHI - 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 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.

	TCHI	MCHI	Difference
Sharpe ratio: Return per unit of total volatility	0.57	-0.03	+0.60
Sortino ratio: Return per unit of downside risk	0.97	0.11	+0.86
Omega ratio: Gain probability vs. loss probability	1.12	1.01	+0.11
Calmar ratio: Return relative to maximum drawdown	0.79	-0.02	+0.81
Martin ratio: Return relative to average drawdown	1.64	-0.05	+1.68

TCHI vs. MCHI - Sharpe Ratio Comparison

The current TCHI Sharpe Ratio is 0.57, which is higher than the MCHI Sharpe Ratio of -0.03. The chart below compares the historical Sharpe Ratios of TCHI 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.

Drawdowns

TCHI vs. MCHI - Drawdown Comparison

The maximum TCHI drawdown since its inception was -43.96%, smaller than the maximum MCHI drawdown of -62.95%. Use the drawdown chart below to compare losses from any high point for TCHI and MCHI.

Drawdown Indicators

	TCHI	MCHI	Difference
Max Drawdown Largest peak-to-trough decline	-43.96%	-62.95%	+18.99%
Max Drawdown (1Y) Largest decline over 1 year	-20.73%	-23.22%	+2.49%
Max Drawdown (3Y) Largest decline over 3 years	-27.78%	-25.35%	-2.43%
Max Drawdown (5Y) Largest decline over 5 years	—	-51.41%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-62.95%	—
Current Drawdown Current decline from peak	-10.60%	-35.91%	+25.31%
Average Drawdown Average peak-to-trough decline	-20.96%	-24.68%	+3.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.99%	11.34%	-1.35%

Volatility

TCHI vs. MCHI - Volatility Comparison

iShares MSCI China Multisector Tech ETF (TCHI) has a higher volatility of 10.62% compared to iShares MSCI China ETF (MCHI) at 5.01%. This indicates that TCHI's price experiences larger fluctuations and is considered to be riskier than MCHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TCHI	MCHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.62%	5.01%	+5.61%
Volatility (6M) Calculated over the trailing 6-month period	21.50%	14.41%	+7.09%
Volatility (1Y) Calculated over the trailing 1-year period	28.67%	20.55%	+8.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.92%	30.40%	+4.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.92%	27.35%	+7.57%

TCHI vs. MCHI - Expense Ratio Comparison

Both TCHI and MCHI have an expense ratio of 0.59%.

Dividends

TCHI vs. MCHI - Dividend Comparison

TCHI's dividend yield for the trailing twelve months is around 2.27%, more than MCHI's 1.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MCHI iShares MSCI China ETF	1.95%	2.12%	2.31%	2.66%	1.78%	1.04%	1.04%	1.45%	1.60%	1.56%	1.66%	2.76%
TCHI iShares MSCI China Multisector Tech ETF	2.27%	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

Can I hold both TCHI and MCHI in my portfolio?

TCHI and MCHI have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TCHI or MCHI?

TCHI has higher volatility (10.62%) compared to MCHI (5.01%). In terms of maximum drawdown, TCHI dropped -43.96% vs MCHI's -62.95%.

Which ETF is better, TCHI or MCHI?

On 3-year performance, TCHI leads with 10.94% vs 8.08% for MCHI. Both ETFs have the same 0.59% expense ratio. On volatility, MCHI has been the lower-risk option at 5.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TCHI or MCHI?

Over the 3-year period, TCHI has performed better with a 10.94% return vs 8.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TCHI or MCHI?

TCHI and MCHI have the same expense ratio: 0.59% per year.

Which ETF pays a higher dividend yield, TCHI or MCHI?

TCHI has the higher dividend yield at 2.27%, compared with 1.95% for MCHI.

What is the main difference between TCHI and MCHI?

TCHI is categorized as Technology Equities, while MCHI is China Equities. TCHI tracks MSCI China Technology Sub-Industries Select Capped Index - Benchmark TR Net, while MCHI tracks MSCI China Index.

Which has better risk-adjusted returns?

TCHI currently has the higher Sharpe Ratio (0.57 vs -0.03), 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.