MCH
Matthews China Active ETF
MCH is actively managed to hold stocks of Chinese companies that are fundamentally screened for sustainable growth. The fund also considers ESG factors in the investment process.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
39.3 M
ASSETS UNDER MGMT
79 bp
EXPENSES
Fund Basics
| Fund sponsor | Matthews International Capital Man |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 13, 2022 |
| Assets (mns) | $39 |
| Expense ratio | 79 bp |
| Currency | CAD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TENCENT HOLDINGS LTD | 12.0 % |
| ALIBABA GROUP HOLDING LTD. | 7.3 % |
| MEITUAN DIANPING | 6.1 % |
| CHINA CONSTRUCTION BANK-H | 4.6 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 4.2 % |
| JD.COM, INC. CLASS A | 3.4 % |
| PETROCHINA CO LTD-H | 3.3 % |
| PING AN INSURANCE GROUP CO-H | 3.0 % |
| WULIANGYE YIBIN CO LTD-A | 2.7 % |
| CHINA MERCHANTS BANK - H | 2.5 % |
Constituent Breakdown
| Number of holdings | 63 |
| Herfindahl-Hirschman Index | 384 |
| Wgt avg mkt cap (mns) | $140,303 |
| Large cap (>$10bn) | 86.0% |
| Mid cap ($2-10bn) | 13.2% |
| Small cap (<$2bn) | 0.8% |
| Developed mkts. | 21.3% |
| Emerging mkts. | 78.7% |
Country Exposure
 |
CHINA | 94.4 % |
 |
HONG KONG | 5.5 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 22.0% | 23.0% | 14.6% | -- | -- | -- | -0.2% | Volatility | 35.1% | 33.6% | 32.1% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.90 | 13% |
| MSCI EAFE | 1.30 | 32% |
| MSCI Emg Mkts | 1.79 | 72% |
Liquidity Measures
| Avg. volume (000) | 15 |
| Turnover | 0.9% |
| Avg. Bid/Ask (% of price) | 0.31% |
| ADV of underlying (mns) | $15,901 |
Technical Indicators
| Recent close | $22.86 |
| 30d moving avg. | $24.22 |
| Annualized volatility | 40.2% |
| Relative strength (RSI) | 55 |
| Short interest (ETF) | 2.7% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. MCH |
Expenses vs. MCH |
ALTAR Score™ vs. MCH |
|---|---|---|---|---|
| CXSE | WisdomTree China ex-State-Owned Enterprises Fund | 47.6% | -47 bp | +0.7% |
| MCHI | iShares MSCI China ETF | 46.6% | -20 bp | +3.0% |
| FLCH | Franklin FTSE China ETF | 43.6% | -60 bp | +3.5% |
| JCHI | JPMorgan Active China ETF | 43.4% | -14 bp | +2.6% |
| FXI | iShares China Large-Cap ETF | 41.9% | -5 bp | +2.8% |
| GXC | SPDR S&P China ETF | 39.4% | -20 bp | +3.0% |
| KALL | KraneShares MSCI All China Index ETF | 38.0% | -30 bp | +3.6% |
| KWEB | KraneShares CSI China Internet ETF | 37.2% | -10 bp | -6.8% |
| CGRO | CoreValues Alpha Greater China Growth ETF | 34.2% | -4 bp | -3.4% |
| FDNI | First Trust Dow Jones International Internet ETF | 33.7% | -14 bp | -3.3% |
Risk and Returns: MCH vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/21/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
MCH
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
ALTAR Score™
MCH
5.4%
Cat. Avg
7.7%
ALTAR Score™ Calculation
Category Overview
There are 165 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.7% and a standard deviation of
4.1%. MCH's ALTAR Score™ is approximately
0.6 standard deviations
below
the category average. This places MCH in the 29th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
MCHSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Emerging Market Equity ETFs |
| # of ETFs | 103 |
| Avg. Expense Ratio | 64.6 bp |
| Std. Deviation | 29 bp |
| MCH (79 bp) Percentile rank | 69 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| MCH | 79.0 | 30.8 | 109.8 |
| Peer Avg. | 73.8 | 42.3 | 116.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .