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Launched

Matthews China Discovery Active ETF MCHS

MCHSNasdaqD

$38.31−0.27 (−0.69%)

At close: Oct 13, 2026, 4:00 PM

D38/ 100

Rank 25 of 30 in China

D38/100Rank 25 of 30inChina
Intraday session: down, 13 prints from 38.58 to 38.31. Range 38.17 to 38.36. Use the arrow keys to read each point.38.2038.4038.5010 AM12 PM2 PM4 PM
Expense ratio
0.99%
Fund size
$19M
1Y total return
+21.0%
Yield · Last 12 months
2.99%
Holdings
49
Avg volume · 30D
0M sh
NAV per share
$38.86
52W range
low $31.36high $53.25
Launched

The ETF.net MCHS Grade

D

Score 38 out of 100

Category
China⁠
Rank
25 of 30
Six-pillar profile for MCHS. Scores out of 100: Cost 3, Risk 65, Mission 61, Tradability 43, Holdings 46, Durability 22. Strongest: Risk (65). Weakest: Cost (3). Leans toward Risk and Mission.

Score 38 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F3 out of 100
    Rank 29 of 30

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B61 out of 100
    Rank 17 of 22

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B65 out of 100
    Rank 9 of 30

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C43 out of 100
    Rank 20 of 30

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C46 out of 100
    Rank 18 of 28

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F22 out of 100
    Rank 27 of 30

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 Oct 12, 2026
Asset class
Stocks
Holdings
49
Top-10 weight
45%
Largest holding
Cash and Others9.9%

Sectors

  • Industrials34.9%
  • Technology29.9%
  • Consumer Discretionary16.5%
  • Health Care9.4%
  • Communication8.1%
  • Energy0.9%
  • Materials0.2%

Geography

  • China70.98%
  • Hong Kong14.55%
  • Taiwan12.19%
  • United States2.28%

Developed 15% · Emerging 85% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 4.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Cash and Others9.90%0$2M11
0021308.HKSitc International Holdings Co., Ltd.5.30%155,000$989K109
0039999.HKNetease, Inc. Adr4.90%7,362$915K113
004—Beijing Huafeng Test & Control Technology Co., Ltd. A Shares3.98%14,151$742K2
005603699.SSNeway Valve Suzhou Co., Ltd. A Shares3.73%111,700$695K21
006LKNCYLuckin Coffee, Inc. Adr3.72%21,140$693K9
0073750.HKContemporary Amperex Technology Co., Ltd. A Shares3.51%14,700$654K97
0086990.HKSichuan Kelun-Biotech Biopharmaceutical Co., Ltd. H Shares3.37%11,100$629K63
0090992.HKLenovo Group, Ltd.3.37%150,000$628K115
010ATATAtour Lifestyle Holdings, Ltd. Adr3.25%18,341$607K51
011000333.SZMidea Group Co., Ltd. A Shares3.15%47,700$588K68
0121801.HKInnovent Biologics, Inc.2.82%44,500$525K88
0130425.HKMinth Group, Ltd.2.78%176,300$519K57
014—Acter Technology Integration Group Co., Ltd. A Shares2.73%49,000$509K1
0151651.HKPrecision Tsugami China Corp., Ltd.2.55%78,000$476K28

Showing 1–15 of 49 holdings

MCHS Performance

Launched Jan 10, 2024

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

Not enough history yet.Not enough history yet.Not enough history yet.
MCHS$12,097
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. MCHS $12,097. SPY $12,044. Use the arrow keys to read each point.$9,130$13,070$17,011Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 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+19.0%
1 month−3.2%
3 months−18.4%
1 year+21.0%
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper 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+19.0%
2025+31.1%
2024+6.6%

History from Jan 11, 2024

MCHS in the news

Filtered to MCHS · China

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 Oct 12, 2026.
2.99%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.
29.6%
Annualised · 32 months to Sep 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.
0.80
vs 3-month T-bills · 32 months to Sep 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.
−26.7%
33 months · trough Oct 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.
0.96
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%

27 of the 29 China funds charge less.

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

Other funds in China

See others