MCHI: iShares MSCI China ETF returns, drawdowns and risk
Funds on emerging and Asian markets, as a block or country by country.
Data updated October 2026
MCHI · US exchange · USDCategory: Emerging markets and Asia ETFsData from March 2011
From March 2011 to October 2026 MCHI returned 2.6% a year on average with dividends reinvested, in US dollars: $10,000 invested at the start grew to $14,814.
Its deepest fall was 62.8%, from February 2021 to October 2022, and it has not yet returned to the previous high. Annual volatility was 26.4%; at the last close it was 41.1% below its high.
Against SPY (SPDR S&P 500 ETF Trust), over the 187 months both have data, the correlation of monthly returns was 0.41: they moved together only in part. Beta was 0.68. In months when SPY rose, MCHI moved 62% as much on average; in months when SPY fell, 90% as much.
Key figures
- Annual return (CAGR)
- +2.6%
- 1-year return
- −19.0%
- 5 years, a year
- −4.7%
- 10 years, a year
- +2.4%
- Annual volatility
- 26.4%
- Maximum drawdown
- −62.8%
- Sharpe ratio
- 0.17
- Worst year
- 2022: −22.8%
Trailing returns
| Period | MCHI | SPY |
|---|---|---|
| 1 year | −19.0% | +16.6% |
| 3 years, a year | +10.4% | +23.1% |
| 5 years, a year | −4.7% | +12.7% |
| 10 years, a year | +2.4% | +15.4% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of $10,000: MCHI vs SPY
Month-end values from April 2011, the first month both funds have data.
MCHI drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | MCHI | SPY |
|---|---|---|
| 2026(partial) | −14.6% | +13.3% |
| 2025 | +31.0% | +17.7% |
| 2024 | +17.7% | +24.9% |
| 2023 | −11.3% | +26.2% |
| 2022 | −22.8% | −18.2% |
| 2021 | −21.7% | +28.7% |
| 2020 | +27.8% | +18.3% |
| 2019 | +23.7% | +31.2% |
| 2018 | −19.8% | −4.6% |
| 2017 | +54.7% | +21.7% |
| 2016 | −0.3% | +12.0% |
| 2015 | −6.7% | +1.2% |
| 2014 | +9.6% | +13.5% |
| 2013 | +5.1% | +32.3% |
| 2012 | +26.1% | +16.0% |
| 2011(partial) | −20.8% | — |
MCHI compared
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of MCHI?
From March 2011 to October 2026 MCHI returned 2.6% a year on average (CAGR) with dividends reinvested, in USD. Over the last 5 years: −4.7% a year. Over the last 12 months: −19.0%.
What was the worst drawdown of MCHI?
62.8%, from February 2021 to October 2022; it has not yet returned to the previous high.
How volatile is MCHI?
Annual volatility was 26.4% over the period. Its worst month was −19.1% and 52% of months were positive. Worst calendar year: 2022 (−22.8%).
How closely does MCHI follow SPY?
Over 187 months the correlation of monthly returns was 0.41, so they moved together only in part, with a beta of 0.68.
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Other Emerging markets and Asia ETFs
- All Emerging markets and Asia ETFsReturns and risk side by side
- VWO — Vanguard FTSE Emerging Markets ETFCAGR +9.6%
- IEMG — iShares Core MSCI Emerging Markets ETFCAGR +6.0%
- EIMI — iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)CAGR +7.3%
- EEM — iShares MSCI Emerging Markets ETFCAGR +5.2%
- VFEM — Vanguard FTSE Emerging Markets UCITS ETF (Dist)CAGR +5.1%
- XMME — Xtrackers MSCI Emerging Markets UCITS ETF 1CCAGR +6.2%
- INDA — iShares MSCI India ETFCAGR +5.0%
- FXI — iShares China Large-Cap ETFCAGR +3.0%
- KWEB — KraneShares CSI China Internet ETFCAGR +1.3%
- EWT — iShares MSCI Taiwan ETFCAGR +13.4%
- EWY — iShares MSCI South Korea ETFCAGR +7.8%
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.