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Matthews China Discovery Active ETF MCHS

MCHSNasdaqMatthews AsiaD

$33.69+0.21 (+0.61%)

At close: Nov 2, 2026, 4:00 PM ET

D39/ 100

Rank 24 of 30 in China

D39/100Rank 24 of 30inChina
Intraday session: up, 79 prints from 33.48 to 33.69. Range 32.00 to 35.12. Use the arrow keys to read each point.32.0032.5034.5035.0010 AM12 PM2 PM4 PM
Expense ratio
0.89%*
Fund size
$13M
1Y total return
+2.4%
Yield · Last 12 months
3.47%
Holdings
45
Avg volume · 30D
8.23K sh
52W range
low $31.36high $53.25
Launched

*After a fee waiver that ends Apr 30, 2027. Without it: 0.99%.

The ETF.net MCHS Grade

D

Score 39 out of 100

Category
China⁠
Rank
24 of 30
Six-pillar profile for MCHS. Scores out of 100: Cost 10, Risk 50, Mission 62, Tradability 49, Holdings 47, Durability 21. Strongest: Mission (62). Weakest: Cost (10). Leans toward Mission.

Score 39 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.
    F10 out of 100
    Rank 26 of 30

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B62 out of 100
    Rank 16 of 22

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C50 out of 100
    Rank 15 of 30

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C49 out of 100
    Rank 15 of 30

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C47 out of 100
    Rank 18 of 29

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F21 out of 100
    Rank 27 of 30

Our read on MCHS

ETF.net Research

In short

DAn active China stock picker in a category ruled by index trackers, run by a firm that has focused on Asia since 1991. The trade-offs: a fee at the high end of its peer group and a small, lightly traded footprint.

Stated mandate

The fund seeks long-term capital appreciation.

Why people hold it

  • Most China ETFs just track an index. This one is actively managed, so a person decides what goes in and what stays out.
  • Matthews has focused on Asia since 1991, which makes this a specialist shop's China portfolio rather than a generalist's side bet.matthewsasia.com
  • The mandate is plain: Chinese stocks, held for long-term capital appreciation. No index weights dictating how much of the portfolio goes to the biggest names.

Worth knowing

  • Cost is the trade-off. 0.89% net of a waiver through April 30, 2027 (0.99% gross), versus 0.19% for FLCH and 0.32% for CXSE, and above the category median fee.
  • Small asset base and light trading, so spreads tend to run wider than on the category's household names, and the fund has less scale behind it than long-established rivals.
  • Single-country China means one government, one currency and one policy cycle driving results, with no cushion from other markets.

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$10,241
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. MCHS $10,241. SPY $11,199. Use the arrow keys to read each point.$10,000$12,500$15,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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+2.8%
1 month−15.3%
3 months−17.0%
1 year+2.4%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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+2.8%
2025+31.1%
2024+6.6%

History from Jan 11, 2024

MCHS in the news

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 30, 2026.
3.47%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

$10,000 in MCHS 1 year ago paid $343 in dividends.

MCHS Risk

Risk pillarC50 out of 100Rank 15 of 30 in China
How much the fund’s monthly returns vary, scaled to a year.
31.0%
Annualised · 33 months to Oct 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.
0.56
vs 3-month T-bills · 33 months to Oct 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.
−36.6%
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.

FMP measures it over up to five years of monthly returns.

MCHS Cost

Compare MCHS and FLCH

Overpaying vs FLCH, cheapest in China

$12,920

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • MCHS 0.89%

    $16,872

  • FLCH 0.19% Cheapest

    $3,952

$10,000
30 years

Cost over time

  • MCHS 0.89%
  • FLCH 0.19%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530MCHS $16,872FLCH $3,952

Year by year

YearMCHSFLCHOverpaying
10$1,576$347$1,229
20$5,953$1,351$4,602
30$16,872$3,952$12,920
How the 0.89% is worked out

Full fee 0.99%− waiver 0.10%= you pay 0.89%

The waiver ends Apr 30, 2027. After that the fee is 0.99% unless Matthews Asia renews it. Source: prospectus, Apr 2026.

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