Matthews China Active ETF (MCH) Performance
MCH total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −13.1% since Dec 31, 2025
- 1 year
- −15.6% total return
- 3 years
- +10.6% a year
- Since first price
- +0.7% a year since 2022
MCH trailing returns vs SPY, QQQ, AGG
| Period | MCH total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −12.3% | −12.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −11.5% | −11.5% | +3.2% | +1.9% | −0.4% |
| 6 months | −12.7% | −12.7% | +7.8% | +8.4% | −1.5% |
| YTD | −13.1% | −13.1% | +12.3% | +15.1% | −1.0% |
| 1 year | −15.6% | −17.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +35.1%+10.6%/yr | +28.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionJul 14, 2022 | +3.0%+0.7%/yr | −1.7% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: MCH vs SPY
From Jul 14, 2022: MCH grew to $10,299, SPY to $21,267.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MCH returns by calendar year
2 of 3 full years positive. Best 2025 (+30.2%), worst 2023 (−19.9%). 2026 is year to date.
MCH annual returns table
| Year | MCH | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −13.1% | −19.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +30.2% | −23.5% | +17.7% | +20.8% | +7.2% |
| 2024 | +17.3% | −24.7% | +24.9% | +25.6% | +1.3% |
| 2023 | −19.9% | −36.3% | +26.2% | +54.9% | +5.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
MCH largest drawdowns
Now 19.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 26, 2023 | −40.5% | Feb 2, 2024 | Oct 7, 2024 | 1.0 years | 1.7 years |
| Oct 7, 2024 | −30.6% | Apr 8, 2025 | Sep 11, 2025 | 6 months | 11 months |
| Jul 19, 2022 | −29.2% | Oct 24, 2022 | Dec 9, 2022 | 3 months | 5 months |
| Jan 12, 2026 | −19.7% | Oct 22, 2026 | not yet | 9 months | 9 months so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
MCH risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | +11.4% | +4.3% |
| Volatility (annualized) | 24.3% | 30.4% |
| Sharpe ratio | 0.38 | 0.14 |
| Sortino ratio | 0.75 | 0.24 |
| Best month | +30.2% | +30.9% |
| Worst month | −10.2% | −13.3% |
| Best 12 months | +52.1% | +52.1% |
| Worst 12 months | −8.9% | −36.6% |
| Positive months | 50% | 48% |
| Beta vs S&P 500 | 0.54 | — |
| Correlation with S&P 500 | 0.28 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
MCH rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 40 | −36.6% | +14.8% | +52.1% | 65% |
| 3-year (a year) | 16 | +3.7% | +8.9% | +19.4% | 100% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
MCH performance overview
Matthews China Active ETF (MCH) returned −15.6% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned +0.7% a year, turning $10,000 into about $10,299. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −40.5%, from Jan 26, 2023 to Feb 2, 2024, and it took 8 months to get back to the old high. MCH finished 2 of its 3 full calendar years with a gain; the best year was 2025 (+30.2%) and the worst 2023 (−19.9%). Volatility has been 30.4% a year.
Related: MCH chart, MCH holdings, MCH dividends. See the MCH overview for the latest quote and fund facts.
MCH performance FAQ
What is the MCH return over the past year?
MCH returned −15.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 17.1%.
How much would $10,000 invested in MCH be worth?
$10,000 invested in MCH at its first recorded close on July 14, 2022 would be worth about $10,299 on October 23, 2026 with distributions reinvested.
What was the worst year for MCH?
The worst calendar year was 2023, with a total return of −19.9%. The best was 2025 at +30.2%.
What is the biggest drawdown of MCH?
The largest peak-to-trough decline was −40.5% between January 26, 2023 and February 2, 2024. It recovered to the old high on October 7, 2024, 8 months after the bottom.
How volatile is MCH?
Over the past 3 years MCH had an annualized volatility of 24.3% and a Sharpe ratio of 0.38 (excess return over 1–3 month T-bills per unit of risk).