Matthews AsiaThematicChina#94 of 189 by YTD

Matthews China Discovery Active ETF MCHSMCHS

S&P 500 Bucket avg Compare

$34.84+0.5%

+$0.18 · Nov 9 close

Buy

AUM: $14M
Fee: 0.99%
Yield: 3.3%

Bumpy · 1Y: 2.2×S&P
Volume: 3K
NAV: $35.03

What's insideAll 43 →

9999.HK 5.7%3750.HK 4.8%9988.HK 4.1%603699.SS 4.1%

52-week range35% below the high

$31.36$53.25

Returns	Today	1W	1M	3M	YTD	1Y	3Y	5Y	Max
Total return	+0.5%	+3.4%	−10.3%	−17.4%	+7.3%	+7.0%	—	—	+50.0%
Peer average	−0.2%	+3.7%	−4.0%	−11.4%	−11.6%	−14.3%	+24.6%	−24.9%	—
S&P 500 · VOO	+2.3%	+0.1%	−3.3%	−2.1%	+11.3%	+13.6%	+81.6%	+75.4%	—

MCHS in One Breath

MCHS Among China ETFs

YTD

#1KUREKraneShares+10.9%$114M

#2MCHSMatthews Asia+7.3%$13.8M

#3KCAIKraneShares+5.9%$1.5M

#4NBCENeuberger Berman+1.1%$15.4M

#5ASHSXtrackers−5.0%$25.4M

#6ASHRXtrackers−5.6%$1.3B

#7KBAKraneShares−6.7%$105M

#8JCHIJ.P. Morgan−8.1%$15.2M

#9FXIiShares−8.8%$4.0B

End-of-day Nov 9, 2026 · 25 China ETFs by YTD

$10,000 in MCHS

$10,000 in MCHS became

$14,998

In the S&P 500 (VOO)

$16,349

Total return, dividends in · Jan 11, 2024 – Nov 9, 2026 · S&P 500 uses VOO

MCHS’s Top Holdings

Today

9999.HK5.7%3750.HK4.8%9988.HK4.1%603699.SS4.1%ATAT4.0%000333.SZ3.9%6990.HK3.9%1308.HK3.7%0700.HK3.6%LKNCY3.5%0425.HK3.1%605111.SS3.1%31 more

IndustrialsConsumer CyclicalHealthcareTechnologyCommunication ServicesUtilitiesOther

Matthews Asia MCHS · 43 holdings · tile size = share of the fund · as of Nov 9, 2026

What MCHS Holds

Today

Industrials31.6%

3750.HK 4.8 · 603699.SS 4.1 · 1308.HK 3.7 · 0631.HK 2.3 · 1651.HK 2.1 · 3393.HK 2.0 · 002028.SZ 2.0

Consumer Cyclical23.6%

9988.HK 4.1 · ATAT 4.0 · 000333.SZ 3.9 · LKNCY 3.5 · 0425.HK 3.1 · 9987.HK 2.7

Healthcare14.6%

6990.HK 3.9 · 1801.HK 2.9 · 1276.HK 2.2 · 2359.HK · 1548.HK

Technology15.9%

9999.HK 5.7 · 605111.SS 3.1 · 688012.SS 1.8 · 2454.TW 1.5 · ACMR 1.0 · 2313.TW · 688008.SS

Communication Services12.1%

0700.HK 3.6

Utilities2.2%

600900.SS 2.0

Consumer Defensive1.1%

600887.SS 1.0

Matthews Asia MCHS · share of the fund by sector · as of Nov 9, 2026

Netease’s Share of MCHS

Today

5.7%

$57 of every $1,000 in MCHS is Netease

Netease held by MCHS

$794K

Most Netease per dollar

KTEC10.1%

KWEB6.9%

MCHS5.7%

TCHI5.1%

Matthews Asia MCHS · each square = $10 of $1,000 · as of Nov 9, 2026

MCHS’s Share of China ETFs

Today

0.1%

of the $19.7B in 25 China ETFs

MCHS$13.8M0.1%

MCHI$5.8B29.6%

KWEB$4.7B24.0%

22 others$9.1B46.3%

China ETF AUM · Nov 9, 2026

MCHS Fee per $100 vs Peers

Today

$0.99a year
per $100

$99 a year on $10,000

MCHI$0.59

CQQQ$0.65

ASHR$0.65

KWEB$0.69

FXI$0.73

MCHS$0.99

Expense ratio · China peers · Nov 9, 2026

Inside MCHS

38 holdings · as of Nov 9, 2026

MCHS

Matthews China Discovery Active ETF MCHS

Today

Industrials31.6%3750.HK4.8%603699.SS4.1%1308.HK3.7%0631.HK2.3%Consumer Cyclical23.6%9988.HK4.1%ATAT4.0%000333.SZ3.9%LKNCY3.5%0425.HK3.1%9987.HK2.7%Healthcare14.6%6990.HK3.9%1801.HK2.9%Technology15.9%9999.HK5.7%605111.SS3.1%ACMRCommunication Services12.1%Utilities2.2%Other5.2%688235.SS2.9%

Industrials31.6%3750.HK4.8%603699.SS4.1%1308.HK3.7%4 moreConsumer Cyclical23.6%9988.HK4.1%ATAT4.0%000333.SZ3.9%LKNCY3.5%Healthcare14.6%Technology15.9%9999.HK5.7%605111.SS3.1%ACMRCommunication Services12.1%Other5.2%

#	Ticker	Company	Weight ▼
1	9999.HK	Netease	5.74%
2	3750.HK	Contemporary Amperex Technology A Shares	4.79%
3	9988.HK	Alibaba Group	4.09%
4	603699.SS	Neway Valve Suzhou A Shares	4.06%
5	ATAT	Atour Lifestyle	3.97%
6	000333.SZ	Midea Group A Shares	3.87%
7	6990.HK	Sichuan Kelun-biotech Biopharmaceutical H Shares	3.86%
8	1308.HK	Sitc International	3.72%
9	0700.HK	Tencent	3.60%
10	LKNCY	Luckin Coffee	3.50%

See all 43 holdings ↓

IndustrialsConsumer CyclicalHealthcareTechnologyCommunication ServicesUtilitiesConsumer DefensiveBasic MaterialsEnergyOther

Matthews Asia MCHS · current holdings by weight · as of Nov 9, 2026 · each tile is one holding · top 20 = 66.6%

All MCHS Holdings

43 holdings · as of Nov 9, 2026

MCHS

MCHS’ Holdings

Today

#
1	—Cash AND Others	—	10.77%	$1,077.13	0	$1.5M
2	9999.HKNetease	Technology	5.74%	$574.44	6,135	$794K
3	9988.HKAlibaba Group	Consumer Cyclical	4.09%	$409.32	42K	$566K
4	603699.SSNeway Valve Suzhou A Shares	Industrials	4.06%	$406.20	93K	$562K
5	ATATAtour Lifestyle	Consumer Cyclical	3.97%	$396.99	15K	$549K
6	000333.SZMidea Group A Shares	Consumer Cyclical	3.87%	$386.66	40K	$535K
7	6990.HKSichuan Kelun-biotech Biopharmaceutical H Shares	Healthcare	3.86%	$385.97	9,200	$534K
8	1308.HKSitc International	Industrials	3.72%	$371.79	88K	$514K
9	0700.HKTencent	Communication Services	3.60%	$360.14	9,300	$498K
10	3750.HKContemporary Amperex Technology A Shares	Industrials	3.53%	$352.82	13K	$488K
11	LKNCYLuckin Coffee	Consumer Cyclical	3.50%	$349.71	14K	$483K
12	0425.HKMinth Group	Consumer Cyclical	3.13%	$313.03	147K	$433K
13	605111.SSWuxi NCE Power A Shares	Technology	3.07%	$307.38	72K	$425K
14	1801.HKInnovent Biologics	Healthcare	2.95%	$294.72	37K	$407K
15	—Acter Technology Integration Group A Shares	—	2.94%	$293.98	41K	$406K

Matthews Asia MCHS · every reported holding · per $10,000 = dollars of each holding in a $10,000 stake · as of Nov 9, 2026

How It Compares

MCHS

Matthews China Discovery Active ETF MCHS’s Peers

YTD


MCHI	iSharesRead Desk	0.59%	−13.7%	−17.9%	$5.8B
KWEB	KraneSharesRead Desk	0.69%	−28.6%	−34.7%	$4.7B
FXI	iSharesRead Desk	0.73%	−8.8%	−12.1%	$4.0B
CQQQ	InvescoRead Desk	0.65%	−23.3%	−27.3%	$1.9B
ASHR	XtrackersRead Desk	0.65%	−5.6%	−4.6%	$1.3B
MCHS	Matthews AsiaThis fundRead Desk	0.99%	+7.3%	+7.0%	$14M

China peers · YTD and past-year returns · as of Nov 10, 2026 · sorted by AUM

Head to Head

Put MCHS head to head with MCHI →

MCHI vs MCHS

YTD

MCHIiShares · ChinaMCHSMatthews Asia · China

Year to date

−13.7%

+7.3%

MCHS wins+21.0 pts

Past year

−17.9%

+7.0%

MCHS wins+24.9 pts

Fee

0.59%

0.99%

MCHI winslower fee

Yield

2.1%

3.3%

MCHS wins+1.2 pts

AUM

$5.8B

$13.8M

MCHI420.7× more

3–1MCHS wins

iShares MCHI and Matthews Asia MCHS · year-to-date · as of Nov 10, 2026 · AUM not scored

China vs Thematic

Average · YTD

MCHI

−13.7%

MCHS

+7.3%

Thematic average

+6.9%

MCHI, MCHS and the average thematic ETF · YTD return · as of Nov 10, 2026

MCHS vs VOO

YTD

MCHS · Matthews China Discovery Active ETF MCHS

+7.3%

VOO · S&P 500

+11.3%

Gap

4.0 pts

Matthews Asia MCHS and Vanguard VOO · YTD total return · as of Nov 10, 2026

MCHS vs Its Peer Average

YTD

MCHSAvsBPeer average

1D+0.5%−0.2%

1M−10.3%−4.0%

3M−17.4%−11.4%

YTD+7.3%−11.6%

1Y+7.0%−14.3%

3Y[…]+24.6%

5Y[…]−24.9%

3–2MCHS wins

24 China peers · each row scaled to its leader

How Bumpy Is MCHS?

View

MCHS

How Bumpy

2.2×the S&P 500’s swings

CalmerBumpierS&P 1×MCHS

Calm rank among 7 china funds#6

Other china funds1.3× to 2.2×

Matthews Asia MCHS · daily swings over the past year vs the S&P 500

MCHS

Worst Drop

−36.7%from its Jun 30 high

Still below the high−33.8%

$10,000 at the high is now$6,620

Matthews Asia MCHS · fall from the highest close, past year

MCHS

On a Bad Day

1.1×the S&P 500’s fall

MCHS’s worst day: Thursday, Jul 2

MCHS

−8.5%

S&P 500

−0.1%

Up days52 of every 100

S&P 500 up days52 of every 100

Matthews Asia MCHS · average move on days the S&P 500 fell

MCHS

Return for the Bumps

1Y#1 of 7 china funds

#1MCHSMatthews Asia

most for the bumps

#2ASHRXtrackers

lost money

#3FXIiShares

lost money

#4CQQQInvesco

lost money

#5GXCSPDR

lost money

#6MCHIiShares

lost money

#7KWEBKraneShares

lost money

Ranked by return above cash for each unit of bumpiness (Sharpe ratio) · cash = 3.8%

MCHS

Cost

Today

$99a year per $10,000

MCHI

$59

GXC

$59

CQQQ

$65

ASHR

$65

KWEB

$69

FXI

$73

MCHS

$99

Expense ratio 0.99%, taken from the fund’s value

MCHS

Volatility & Beta

30.2%annual volatility

S&P 500 volatility13.7%

Downside volatility21.3%

Beta vs SPY1.01

Correlation vs SPY0.46

Beta rank, lowest first, of 7#6

Daily total returns × √252 · past 254 trading days

MCHS

Max Drawdown

−36.7%peak to trough

Peak closeJun 30, 2026

Current drawdown−33.8%

Worst day−8.46% · Jul 2

Closing prices, dividends in

MCHS

Up / Down Capture

111%down capture vs SPY

Down days

111%

Up days

108%

S&P 500

100%

Up ÷ down capture0.98

Up days51.6% (S&P 52.4%)

Average daily move on SPY up days and down days

MCHS

Sharpe & Sortino vs Peers

Fund	Sharpe	Sortino	Volatility	Max DD	Beta	Fee / $10k
MCHS	0.13	0.18	30.2%	−36.7%	1.01	$99
ASHR	−0.35	−0.50	18.2%	−19.5%	0.71	$65
FXI	−0.74	−1.05	19.2%	−22.0%	0.56	$73
CQQQ	−0.96	−1.36	30.7%	−35.8%	1.24	$65
GXC	−1.02	−1.43	17.7%	−22.0%	0.67	$59
MCHI	−1.06	−1.49	19.0%	−23.3%	0.65	$59
KWEB	−1.42	−1.99	26.6%	−39.6%	0.78	$69

Sharpe = (return − 3.8% cash) ÷ volatility · Sortino uses downside volatility only

MCHS

Trading

Today

−0.54%below its holdings’ value

Close$34.84

NAV$35.03

Fee per $10,000$99 a year

Avg. volume 30D5K shares

Premium / discount history starts once daily NAV is saved

Close vs net asset value, Nov 9

The Details

MCHS

Fund Facts

Today

2024launched Jan 10

Tracks[…]

Exchange · CUSIPNASDAQ · 577125735

StructureETF

Leverage1x

Cost on $10,000$99 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

Matthews Asia MCHS · fund facts · as of Nov 10, 2026

MCHS

Payouts by Year

$1.16per share, Dec 2025

Distribution yield3.3%

Paid[…]

Latest ex-date · paidDec 17 · Dec 22, 2025

2 payouts added up$2.56 a share

Matthews Asia MCHS · distributions by ex-date · 2024–2025

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

Trading & Liquidity

Net asset value$35.03

Premium / discount[…]

Median spread · 30D[…]

Volume today3K

Average volume · 30D5K

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.99%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$99.00

Our risk indicator4/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Dec 17, 2025	Dec 22, 2025	$1.16
Dec 18, 2024	Dec 23, 2024	$1.41

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