TME vs. MCHI
TME (Tencent Music Entertainment Group) is a stock, while MCHI (iShares MSCI China ETF) is China Equities fund tracking the MSCI China Index. Over the past 5 years, TME returned -9.05%/yr vs -5.67%/yr for MCHI. A 0.60 correlation means they provide meaningful diversification when combined.
Performance
TME vs. MCHI - Performance Comparison
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Returns By Period
In the year-to-date period, TME achieves a -46.46% return, which is significantly lower than MCHI's -6.81% return.
TME
- 1D
- -3.89%
- 1M
- 0.00%
- YTD
- -46.46%
- 6M
- -48.74%
- 1Y
- -46.00%
- 3Y*
- 8.44%
- 5Y*
- -9.05%
- 10Y*
- —
MCHI
- 1D
- -2.12%
- 1M
- -2.30%
- YTD
- -6.81%
- 6M
- -8.43%
- 1Y
- 6.44%
- 3Y*
- 9.73%
- 5Y*
- -5.67%
- 10Y*
- 4.68%
TME vs. MCHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TME Tencent Music Entertainment Group | -46.46% | 56.39% | 27.12% | 8.82% | 20.88% | -64.40% | 63.88% | -11.20% | -5.57% |
MCHI iShares MSCI China ETF | -6.81% | 31.04% | 17.73% | -11.94% | -23.01% | -21.74% | 27.78% | 23.72% | -5.31% |
Correlation
The correlation between TME and MCHI is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2018 | 0.60 |
The correlation between TME and MCHI shifts across timeframes, from 0.47 (1 year) to 0.68 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TME vs. MCHI — Risk / Return Rank
TME
MCHI
TME vs. MCHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tencent Music Entertainment Group (TME) 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.
| TME | MCHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.30 | ||
| Sortino ratioReturn per unit of downside risk | -1.90 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.07 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | 0.38 | -1.07 |
| Martin ratioReturn relative to average drawdown | -1.25 | 0.78 | -2.02 |
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
| TME | MCHI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.98 | 0.32 | -1.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.15 | -0.19 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.17 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.09 | 0.09 | -0.18 |
Drawdowns
TME vs. MCHI - Drawdown Comparison
The maximum TME drawdown since its inception was -90.19%, which is greater than MCHI's maximum drawdown of -62.95%. Use the drawdown chart below to compare losses from any high point for TME and MCHI.
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Drawdown Indicators
| TME | MCHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.19% | -62.95% | -27.24% |
Max Drawdown (1Y)Largest decline over 1 year | -67.01% | -17.17% | -49.84% |
Max Drawdown (3Y)Largest decline over 3 years | -67.01% | -25.85% | -41.16% |
Max Drawdown (5Y)Largest decline over 5 years | -80.52% | -56.98% | -23.54% |
Max Drawdown (10Y)Largest decline over 10 years | — | -62.95% | — |
Current DrawdownCurrent decline from peak | -69.83% | -36.45% | -33.38% |
Average DrawdownAverage peak-to-trough decline | -51.97% | -24.52% | -27.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.92% | 8.30% | +28.62% |
Volatility
TME vs. MCHI - Volatility Comparison
Tencent Music Entertainment Group (TME) has a higher volatility of 13.58% compared to iShares MSCI China ETF (MCHI) at 7.26%. This indicates that TME'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.
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Volatility by Period
| TME | MCHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.58% | 7.26% | +6.32% |
Volatility (6M)Calculated over the trailing 6-month period | 40.89% | 14.51% | +26.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.94% | 20.17% | +26.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.04% | 30.71% | +29.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.74% | 27.39% | +29.35% |
Dividends
TME vs. MCHI - Dividend Comparison
TME's dividend yield for the trailing twelve months is around 2.63%, more than MCHI's 2.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MCHI iShares MSCI China ETF | 2.27% | 2.12% | 2.31% | 2.66% | 1.78% | 1.04% | 1.04% | 1.45% | 1.60% | 1.56% | 1.66% | 2.76% |
TME Tencent Music Entertainment Group | 2.63% | 1.03% | 1.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TME and MCHI have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TME has higher volatility (13.58%) compared to MCHI (7.26%). In terms of maximum drawdown, TME dropped -90.19% vs MCHI's -62.95%.
MCHI currently has the higher Sharpe Ratio (0.32 vs -0.98), 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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