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MCHI vs PGJ

iShares MSCI China ETF

MCHIANasdaq

Invesco Golden Dragon China ETF

PGJCNasdaq

Overlap

Expense ratio

MCHI −0.11pt a year

MCHI0.59%PGJ0.70%

Avg volume · 30D

MCHI 102.6×the volume

MCHI2.24MPGJ21.8K

10Y return · a year

MCHI +4.7pt

MCHI+2.6%PGJ−2.1%

MCHI vs PGJ Performance

Nov 2, 2021 – Nov 2, 2026

−18.7%MCHI−46.0%PGJ

Nov 2, 2021 to Nov 2, 2026. MCHI −18.7%. PGJ −46.0%. Use the arrow keys to read each point.−30%−10%0%10%Nov 2021May 2024Nov 2026
Expense ratio
MCHI 0.59%, better
PGJ 0.70%
Fund size
MCHI $5.49B
PGJ $76M
1Y total return
MCHI −20.5%, better
PGJ −31.9%
Yield (12M)
MCHI 2.21%, better
PGJ 2.02%
Holdings
MCHI 581
PGJ 68
Avg volume (30D)
MCHI 2.24M sh, better
PGJ 21.8K sh
NAV per share
MCHI $48.89
PGJ $20.82
52W range

ETF.net Grade

MCHI: Cost 78, Risk 63, Mission 87, Tradability 88, Holdings 57, Durability 91. PGJ: Cost 38, Risk 25, Mission 62, Tradability 70, Holdings 40, Durability 73.
Pillar letters and Scores for MCHI, PGJ, with each pillar’s weight
PillarMCHIPGJ
Cost30% weightA78HigherD38
Mission25% weightA87HigherB62
Risk15% weightB63HigherD25
Tradability15% weightA88HigherA70
Holdings10% weightB57HigherC40
Durability5% weightA91HigherA73

Rank among China funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. MCHI and PGJ are both graded against the same 28 China funds, so their Grades compare head to head.

China⁠

Category · 28 funds
See all 28 ›

MCHI ranks 3rd and PGJ 15th of 28 funds in the China Category.

  1. Rank 1ACXSEWisdomTree China ex-State-Owned Enterprises FundScore 81
  2. Rank 1AFLCHFranklin FTSE China ETFScore 81
  3. Rank 3AMCHIiShares MSCI China ETFScore 77
  4. Rank 4AGXCState Street SPDR S&P China ETFScore 76
  5. Rank 15CMCHMatthews China Active ETFScore 48
  6. Rank 15CPGJInvesco Golden Dragon China ETFScore 48
  7. Rank 17CMAGCRoundhill China Magnificent Seven ETFScore 47

Our read on each fund

ETF.net Research

MCHIAiShares MSCI China ETF

PGJCInvesco Golden Dragon China ETF

In short

MCHI The default one-ticker way to own China. MCHI has tracked the MSCI China Index since 2011, holding roughly 600 stocks open to international investors, and it stays actively traded.

PGJ Most China funds route you through Hong Kong or mainland listings. PGJ takes the other door: it holds Chinese companies that list their shares in the US, tracking a Nasdaq index built around that single screen. It has done it that way since 2004.

Stated mandate

MCHI The fund seeks to track an index of Chinese equities available to international investors.

PGJ The fund is based on the NASDAQ Golden Dragon China Index and provides China-focused equity exposure.

Why people hold it

  • MCHI One ticker, roughly 600 Chinese stocks. Instead of picking among share classes and listings, you get the MSCI China Index (Net) in a single line item.ishares.com
  • 0.59% expense ratio, below the middle of the single-country China pack, and the fund has hewed closely to its stated index mandate.
  • Running since 2011 and now a multi-billion-dollar fund that trades actively, which is why it turns up as the reference China holding in so many portfolios.
  • One of the stronger implementations in its peer group on tradability and staying power, both scored in the top tier of the China cohort.
  • PGJ Holds Chinese businesses whose stock trades on US exchanges, largely ADRs. US-market plumbing, US settlement, no Hong Kong or mainland access required.nasdaqomx.comnasdaqomx.com 2
  • Launched in 2004, one of the longer-running China ETFs available, and tied to the same Nasdaq Golden Dragon China Index the entire time.invesco.com
  • The US-listing rule narrows the field to roughly 70 names, a different slice of China than broad-market trackers like MCHI or GXC pull in. Pays quarterly.

Worth knowing

  • MCHI Cheaper broad-China options exist: FLCH charges 0.19% and JPMorgan's active JCHI 0.15%. You are paying up for MCHI's depth and liquidity.
  • Single-country equity risk, undiluted. Chinese regulation, currency and policy swings hit the whole basket at once, and the index leans heavily on its biggest names.
  • Distributions come once or twice a year, not monthly, so cash flow arrives in lumps.
  • PGJ 0.70% a year sits at the China-fund median but several times what broad index rivals like FLCH (0.19%) and JCHI (0.15%) charge.
  • That US-listing screen cuts both ways. The prospectus flags US government action, including delisting Chinese companies from US exchanges, as a risk to these holdings.saytechnologies.com
  • Trades thinly next to the giants of the China category, so spreads and order size carry more weight.

Full MCHI profile⁠

Full PGJ profile⁠

MCHI vs PGJ Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

MCHI vs PGJ Cost

Overpaying PGJ vs MCHI

$1,971

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

  • MCHI 0.59%

    $11,635

  • PGJ 0.70%

    $13,606

$10,000
30 years

Cost over time

  • MCHI 0.59%
  • PGJ 0.70%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530PGJ $13,606MCHI $11,635

Year by year

YearMCHIPGJOverpaying
10$1,058$1,250$192
20$4,051$4,760$709
30$11,635$13,606$1,971

Expense ratio

  • 0.59%MCHI, cheaper
  • 0.70%PGJ
  • Middle half of China funds
  • Median 0.65%

MCHI 5th cheapest of 28 funds

PGJ 19th cheapest of 28 funds

MCHI vs PGJ Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
MCHI 2.21%, better
PGJ 2.02%
Payout (12M)
MCHI $1.10
PGJ $0.43
Last payment
MCHI $0.36
PGJ $0.15
Ex-dividend
MCHI Jun 15, 2026
PGJ Sep 21, 2026
Paid on
MCHI Jun 18, 2026
PGJ Sep 25, 2026
Frequency
MCHI Twice a year
PGJ Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

MCHITwice a year · 19 paymentsAll MCHI payments⁠
One bar per payment. 19 payments from 2017 to 2026 YTD. Jun 20, 2017 $0.19; Dec 19, 2017 $0.85; Jun 19, 2018 $0.32; Dec 18, 2018 $0.53; Jun 17, 2019 $0.36; Dec 16, 2019 $0.57; Jun 15, 2020 $0.24; Dec 14, 2020 $0.60; Jun 10, 2021 $0.18; Dec 13, 2021 $0.48; Jun 9, 2022 $0.31; Dec 13, 2022 $0.71; Jun 7, 2023 $0.43; Dec 20, 2023 $0.99; Jun 11, 2024 $0.19; Dec 17, 2024 $0.89; Jun 16, 2025 $0.54; Dec 16, 2025 $0.74; Jun 15, 2026 $0.36. Use the arrow keys to read each point.$0$12017202020232026YTD
PGJQuarterly · 27 paymentsAll PGJ payments⁠
One bar per payment. 27 payments from 2017 to 2026 YTD. Jun 16, 2017 $0.20; Sep 18, 2017 $0.11; Dec 18, 2017 $0.61; Jun 18, 2018 $0.03; Sep 24, 2018 $0.07; Jun 24, 2019 $0.05; Sep 23, 2019 $0.02; Mar 23, 2020 $0.09; Jun 22, 2020 $0.03; Dec 21, 2020 $0.08; Jun 21, 2022 $0.08; Sep 19, 2022 $0.07; Dec 19, 2022 $0.08; Mar 20, 2023 $0.02; Jun 20, 2023 $0.09; Sep 18, 2023 $0.14; Dec 18, 2023 $0.40; Jun 24, 2024 $1.01; Sep 23, 2024 $0.15; Dec 23, 2024 $0.07; Mar 24, 2025 $0.07; Jun 23, 2025 $0.21; Sep 22, 2025 $0.48; Dec 22, 2025 $0.20; Mar 23, 2026 $0.01; Jun 22, 2026 $0.07; Sep 21, 2026 $0.15. Use the arrow keys to read each point.$0$12017202020232026YTD

MCHI vs PGJ Risk

Fall from peak · 5 years

  • MCHI
  • PGJ
Nov 2, 2021 to Nov 2, 2026. Worst fall: PGJ −61.2% · Oct 2022. Use the arrow keys to read each point.−50%−40%−30%−20%−10%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
MCHI 21.2%, betterPGJ 28.4%
Return per unit of riskSharpe ratio, 3 years
MCHI 0.26, betterPGJ −0.13
Worst fallMax drawdown, 5 years
MCHI −49.2%, betterPGJ −61.2%
Market sensitivityBeta, 5 years
MCHI 0.63PGJ 0.85

MCHI and PGJ in the news

All news⁠

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