Matthews China Discovery Active ETF (MCHS) Performance
MCHS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +7.8% since Dec 31, 2025
- 1 year
- +8.8% total return
- Since first price
- +50.2% since 2024
MCHS trailing returns vs SPY, QQQ, AGG
| Period | MCHS total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −13.3% | −13.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −15.7% | −15.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −15.8% | −15.8% | +7.8% | +8.4% | −1.5% |
| YTD | +7.8% | +7.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +8.8% | +5.0% | +14.4% | +15.9% | −1.1% |
| Since inceptionJan 12, 2024 | +50.2% | +37.5% | — | — | — |
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: MCHS vs SPY
From Jan 12, 2024: MCHS grew to $15,021, SPY to $16,465.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MCHS returns by calendar year
1 of 1 full years positive. Best 2025 (+31.2%), worst 2025 (+31.2%). 2026 is year to date.
MCHS annual returns table
| Year | MCHS | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +7.8% | −33.8% | +12.3% | +15.1% | −1.0% |
| 2025 | +31.2% | −20.3% | +17.7% | +20.8% | +7.2% |
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.
MCHS largest drawdowns
Now 33.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jun 30, 2026 | −33.8% | Oct 22, 2026 | not yet | 4 months | 4 months so far |
| Oct 7, 2024 | −23.8% | Apr 8, 2025 | Jul 22, 2025 | 6 months | 9 months |
| May 17, 2024 | −18.9% | Aug 28, 2024 | Sep 30, 2024 | 3 months | 4 months |
| Mar 2, 2026 | −12.1% | Mar 23, 2026 | Apr 17, 2026 | 21 days | 46 days |
| Jan 12, 2024 | −11.7% | Feb 5, 2024 | Feb 27, 2024 | 24 days | 46 days |
| Oct 2, 2025 | −10.2% | Nov 21, 2025 | Jan 7, 2026 | 50 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
MCHS risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +26.5% |
| Volatility (annualized) | 29.6% |
| Sharpe ratio | 0.80 |
| Sortino ratio | 1.33 |
| Best month | +19.9% |
| Worst month | −23.5% |
| Best 12 months | +87.5% |
| Worst 12 months | +7.2% |
| Positive months | 62% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
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.
MCHS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 22 | +7.2% | +29.1% | +87.5% | 100% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
MCHS performance overview
Matthews China Discovery Active ETF (MCHS) returned +8.8% over the past year, with distributions reinvested. Since its first recorded price on Jan 12, 2024 it has returned +50.2%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −33.8%, from Jun 30, 2026 to Oct 22, 2026; the fund has not yet regained that high. Volatility has been 29.6% a year.
Related: MCHS chart, MCHS holdings, MCHS dividends. See the MCHS overview for the latest quote and fund facts.
MCHS performance FAQ
What is the MCHS return over the past year?
MCHS returned +8.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 5.0%.
How much would $10,000 invested in MCHS be worth?
$10,000 invested in MCHS at its first recorded close on January 12, 2024 would be worth about $15,021 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of MCHS?
The largest peak-to-trough decline was −33.8% between June 30, 2026 and October 22, 2026. It has not yet recovered to that high; it is 33.4% below its peak.
How volatile is MCHS?
Over the past history MCHS had an annualized volatility of 29.6% and a Sharpe ratio of 0.80 (excess return over 1–3 month T-bills per unit of risk).