Skip to content
etf.net

MCHS

GradeDNASDAQ Global Market

Matthews China Discovery Active ETF MCHS

Countries & Regions · Matthews Asia · Inception 2024-01-10

$40.29−0.60 (−1.47%)

As of Sep 23, 2026, 1:33 PM EDT

History starts Jan 11, 2024.
Intraday session: down, 10 prints from 40.89 to 40.29. Range 40.29 to 40.54. Use the arrow keys to read each point.$40.40$40.5010 AM12 PM2 PM4 PM
Expense ratio
0.99%
Fund size
$20M
1Y return
+21.9%
Yield · Last 12 months
2.83%
Volume · 30D
0M sh
NAV per share
$40.66
52W range
low $31.36high $53.25

The ETF.net MCHS Grade

D

36/ 100

Rank 29 of 30 in China⁠

Confidence High

Six-pillar profile for MCHS. Scores out of 100: Cost 3, Risk 65, Mission 62, Tradability 33, Holdings 41, Durability 22. Strongest: Risk (65). Weakest: Cost (3). Leans toward Risk and Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 36 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 3
    Category rank29/30 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    BScore 62
    Category rank18/22 · bottom quartile

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 65
    Category rank9/30 · top 30%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 33
    Category rank21/30 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 41
    Category rank18/28 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    FScore 22
    Category rank27/30 · bottom quartile

Graded as of Sep 22, 2026

Our read on MCHS

ETF.net Research

DMost China ETFs hand you an index and walk away. MCHS is the stock-picker's version: an actively run China equity fund from an Asia specialist, aiming at long-term capital appreciation instead of a benchmark.

Stated mandate

The fund seeks long-term capital appreciation.

Why people hold it

  1. 01Actively managed, so there is no index to hug. The managers pick Chinese equities directly in pursuit of long-term capital appreciation.
  2. 02The mandate is narrow and unambiguous: China, equities, growth. You always know which market you are taking risk in.
  3. 03Comes from Matthews Asia, a house built around Asia investing rather than a generalist bolting on a China sleeve.

Worth knowing

  1. 01Fees run 0.99%, above the 0.70% median for China ETFs, and index rivals like FLCH (0.19%) charge a fraction of that.
  2. 02A small fund that trades lightly, so spreads can run wider than the category's heavyweights, especially in size or fast markets.
  3. 03Built for capital appreciation, not income: payouts land once or twice a year at most, and the 2024 launch leaves a short live record.

MCHS Holdings

As of Sep 20, 2026, 8:56 AM
Asset class
Stocks
Holdings
—
Top-10 weight
49%
Largest holding
CASH AND OTHERS10.8%

Sectors

  • Industrials35.4%
  • Technology28.9%
  • Consumer Discr.18.4%
  • Health Care8.1%
  • Communication6.0%
  • Real Estate2.1%
  • Energy1.0%
  • Materials0.2%

Geography

  • China71.31%
  • Hong Kong15.97%
  • Taiwan10.71%
  • United States2.01%

Developed 16% · Emerging 84% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 4.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—CASH AND OTHERS10.81%0$2M12
0021308.HKSITC INTERNATIONAL HOLDINGS CO., LTD.5.57%177,000$1M110
003000333.SZMIDEA GROUP CO., LTD. A SHARES5.51%85,400$1M70
004—BEIJING HUAFENG TEST & CONTROL TECHNOLOGY CO., LTD. A SHARES4.41%14,151$861K2
0059999.HKNETEASE, INC. ADR4.38%7,362$855K115
006LKNCYLUCKIN COFFEE, INC. ADR3.79%21,140$740K9
0070992.HKLENOVO GROUP, LTD.3.68%150,000$718K115
008603699.SSNEWAY VALVE SUZHOU CO., LTD. A SHARES3.63%105,800$709K21
0093750.HKCONTEMPORARY AMPEREX TECHNOLOGY CO., LTD. A SHARES3.39%14,700$662K100
0106990.HKSICHUAN KELUN-BIOTECH BIOPHARMACEUTICAL CO., LTD. H SHARES3.35%11,100$653K66
011—ACTER TECHNOLOGY INTEGRATION GROUP CO., LTD. A SHARES3.16%49,000$617K1
012ATATATOUR LIFESTYLE HOLDINGS, LTD. ADR3.02%18,341$590K52
013605111.SSWUXI NCE POWER CO., LTD. A SHARES2.87%59,700$560K10
0140425.HKMINTH GROUP, LTD.2.77%176,300$541K57
0150631.HKSANY HEAVY EQUIPMENT INTERNATIONAL HOLDINGS CO., LTD.2.54%449,000$496K42

Showing 1–15 of 46 holdings

MCHS Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

MCHS$12,189
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. MCHS $12,189. SPY $11,723. Use the arrow keys to read each point.$8,557$12,385$16,213Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for MCHS. Periods over one year show the average yearly return.
PeriodMCHS
Year to date+25.9%
1 month−4.4%
3 months−20.7%
1 year+21.9%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for MCHS
YearReturn barMCHS
2026 YTD+25.9%
2025+31.1%
2024+6.6%

History from Jan 11, 2024

MCHS in the news

ETF.net Research hasn’t filed on MCHS yet — coverage lands here as it’s written.

MCHS Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
2.83%Last 12 months
Payout per share
$1.16Last 12 months
Last payment
$1.16 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution history

2024–2026

One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 18, 2024 $1.41; Dec 17, 2025 $1.16. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Dec 17, 2025Dec 22, 2025$1.16
Dec 18, 2024Dec 23, 2024$1.41

MCHS Risk

How much the fund’s monthly returns vary, scaled to a year.
29.7%
Annualised · 31 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.89
vs 3-month T-bills · 31 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−24.8%
32 months · trough Jul 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.93
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

MCHS Cost

Expense ratio0.99%
  • The middle half of China funds
  • Median 0.65%

26 of the 28 China funds charge less.

MCHS costs $99.00 a year on $10,000. The median China fund costs $65.00.