TME vs. MCHI

Last updated Apr 2, 2026

Compare and contrast key facts about Tencent Music Entertainment Group (TME) and iShares MSCI China ETF (MCHI).

MCHI is a passively managed fund by iShares that tracks the performance of the MSCI China Index. It was launched on Mar 29, 2011.

Performance

TME vs. MCHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tencent Music Entertainment Group (TME) and iShares MSCI China ETF (MCHI). The values are adjusted to include any dividend payments, if applicable.

TME vs. MCHI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TME Tencent Music Entertainment Group	-47.58%	56.39%	27.12%	8.82%	20.88%	-64.40%	63.88%	-11.20%	-5.57%
MCHI iShares MSCI China ETF	-6.78%	31.04%	17.73%	-11.94%	-23.01%	-21.74%	27.78%	23.72%	-5.31%

Returns By Period

In the year-to-date period, TME achieves a -47.58% return, which is significantly lower than MCHI's -6.78% return.

TME

• 1D: -0.97%
• 1M: -36.31%
• YTD: -47.58%
• 6M: -60.25%
• 1Y: -35.64%
• 3Y*: 4.28%
• 5Y*: -14.13%
• 10Y*: —

MCHI

• 1D: -0.32%
• 1M: -4.29%
• YTD: -6.78%
• 6M: -14.44%
• 1Y: 4.94%
• 3Y*: 6.44%
• 5Y*: -5.72%
• 10Y*: 4.62%

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

Return for Risk

TME vs. MCHI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TME

TME Risk / Return Rank: 15
TME Sharpe Ratio Rank: 11
TME Sortino Ratio Rank: 14
TME Omega Ratio Rank: 12
TME Calmar Ratio Rank: 23
TME Martin Ratio Rank: 13

MCHI

MCHI Risk / Return Rank: 17
MCHI Sharpe Ratio Rank: 16
MCHI Sortino Ratio Rank: 17
MCHI Omega Ratio Rank: 17
MCHI Calmar Ratio Rank: 18
MCHI Martin Ratio Rank: 17

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.

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 ratio Return per unit of total volatility	-0.71	0.21	-0.92
Sortino ratio Return per unit of downside risk	-0.78	0.45	-1.23
Omega ratio Gain probability vs. loss probability	0.88	1.06	-0.18
Calmar ratio Return relative to maximum drawdown	-0.54	0.30	-0.85
Martin ratio Return relative to average drawdown	-1.36	0.79	-2.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TME vs. MCHI - Sharpe Ratio Comparison

The current TME Sharpe Ratio is -0.71, which is lower than the MCHI Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of TME and MCHI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TME	MCHI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.71	0.21	-0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.24	-0.19	-0.05
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	-0.19

Correlation

The correlation between TME and MCHI is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TME vs. MCHI - Dividend Comparison

TME's dividend yield for the trailing twelve months is around 1.96%, less than MCHI's 2.27% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TME Tencent Music Entertainment Group	1.96%	1.03%	1.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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%

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.

Drawdown Indicators

	TME	MCHI	Difference
Max Drawdown Largest peak-to-trough decline	-90.19%	-62.95%	-27.24%
Max Drawdown (1Y) Largest decline over 1 year	-65.14%	-17.17%	-47.97%
Max Drawdown (5Y) Largest decline over 5 years	-84.52%	-57.18%	-27.34%
Max Drawdown (10Y) Largest decline over 10 years	—	-62.95%	—
Current Drawdown Current decline from peak	-70.46%	-36.43%	-34.03%
Average Drawdown Average peak-to-trough decline	-51.56%	-24.40%	-27.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.03%	6.63%	+19.40%

Volatility

TME vs. MCHI - Volatility Comparison

Tencent Music Entertainment Group (TME) has a higher volatility of 31.28% compared to iShares MSCI China ETF (MCHI) at 6.82%. 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.

Volatility by Period

	TME	MCHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	31.28%	6.82%	+24.46%
Volatility (6M) Calculated over the trailing 6-month period	40.64%	14.83%	+25.81%
Volatility (1Y) Calculated over the trailing 1-year period	50.54%	23.85%	+26.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.27%	30.67%	+29.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.07%	27.39%	+29.68%