KCAIvsMCHIETF Comparison
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KraneShares China Alpha Index ETF (KCAI) and iShares MSCI China ETF (MCHI) belong to the same industry segment: China Blended Cap. KCAI's top 3 sector exposures are Financials, Industrials and Materials. In contrast, MCHI's top sector exposures are Consumer Discretionary, Communication Services and Financials. KCAI is more expensive with a Total Expense Ratio (TER) of 0.79%, versus 0.59% for MCHI. KCAI is up 7.65% year-to-date (YTD) with +$3M in YTD flows. MCHI performs worse with -4.64% YTD performance, and -$652M in YTD flows. Run a side-by-side ETF comparison of KCAI and MCHI below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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KCAI vs MCHI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/29/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | KCAI MCHI | +3.54%+4.90% | +6.99%-8.17% | +7.65%-4.64% | +66.01%+13.73% | n/a+31.20% | n/a-21.72% |
| Flows | KCAI MCHI | -$0K-$69M | +$3M-$550M | +$3M-$652M | -$2M+$584M | --$1.91B | -+$3.17B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | KCAI MCHI | +14.56%+20.12% | +13.34%+19.01% | n/a+24.75% | n/a+28.52% |
| Max drawdown | KCAI MCHI | -4.37%-12.46% | -4.37%-17.02% | n/a-25.77% | n/a-56.93% |
| Max drawdown duration | KCAI MCHI | 32d88d | 32d210d | n/a422d | n/a1794d |
Trading data
KCAI | MCHI | |
Last sale 4/30/2026 at 6:49 PM | $32.54 | $57.73 |
| Previous close 04/29/2026 | $32.56 | $57.57 |
| Consolidated volume 04/29/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of April 29, 2026
1-year trailing difference
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KCAI | MCHI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 4/30/2026 at 6:49 PM
Live
Closed
KCAI | MCHI | |
|---|---|---|
| Last price | $32.54 | $57.73 |
| 1D performance | -0.06% | +0.28% |
| AuM | $11.47 M | $6.75 B |
| E/R | 0.79% | 0.59% |
Characteristics
KCAI | MCHI | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | KraneShares | iShares |
| Benchmark | Qi China Alpha Index | MSCI China Index |
| N° of holdings | 40 | 521 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 28, 2024 | March 29, 2011 |
| ESG | No | No |
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Exposure
Countries
KCAI
China
99.77%
Other
0.23%
MCHI
Cayman Islands
47.63%
China
42.87%
Other
9.5%
Sectors
KCAI
Financials
41.38%
Industrials
21.31%
Materials
14.32%
Information Techn.
12.29%
Consumer Discreti.
10.47%
Other
0.23%
MCHI
Consumer Discreti.
25.68%
Communication Ser.
19.26%
Financials
18.92%
Information Techn.
7.95%
Other
28.19%
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Diversification
KCAI
Total weight of top 15 holdings out of 15
48.47%
MCHI
Total weight of top 15 holdings out of 15
50.49%
Top 15 holdings
Data as of March 31, 2026
KCAI
EOPTOLINK TECHNOLOGY INC
3.43%
SATELLITE CHEMICAL CO LTD
3.43%
CONSTR BANK
3.34%
BANK OF CHINA
3.34%
ICBC
3.31%
HUA XIA BANK
3.28%
NINGXIA BAOFENG ENERGY GROUP CO LTD
3.28%
BANK OF COMM
3.21%
PUDONG DEV
3.19%
BANK OF JIANGSU CO LTD-A
3.17%
DAQIN RAILWAY
3.15%
AGRI BANK OF CN
3.11%
BANK OF SHANGHAI CO LTD
3.08%
BEIJING BANK
3.08%
ZHONGJI INNOLIGHT
3.07%
MCHI
TENCENT HOLDINGS
15.13%
ALIBABA GROUP HOLDING LTD
10.00%
CHINA CONSTRUCTION BANK
3.94%
PINDUODUO INC ADR
2.78%
XIAOMI CORP
2.67%
INDUSTRIAL COMMERC BK CHINA
2.18%
MEITUAN
2.01%
PING AN
1.95%
BYD
1.91%
BANK OF CHINA
1.72%
NETEASE INC
1.45%
JD.COM INC
1.33%
TRIP.COM GROUP
1.16%
BAIDU
1.15%
PETROCHINA
1.11%
Frequently asked questions about KCAI and MCHI
How have the KCAI and MCHI ETFs performed in 2026?
As of April 29, 2026, KCAI is up 7.65% year-to-date (YTD), while MCHI has lost -4.64%. That puts KCAI better performer ahead so far this year.
Which ETF is attracting more investor money: KCAI or MCHI?
Year-to-date, the KCAI ETF saw +$3M in flows, compared to -$652M for MCHI.
Which ETF is more volatile: KCAI or MCHI?
Over the past year, KCAI had a volatility of 13.34%, while MCHI experienced 19.01%.
Which ETF is bigger: KCAI or MCHI?
As of April 29, 2026, KCAI holds $11.47 M in assets under management (AUM), while MCHI manages $6.75 B.
What sectors do the KCAI and MCHI ETFs invest in?
KCAI leans toward sectors like Financials, Industrials and Materials. Meanwhile, MCHI focuses on Consumer Discretionary, Communication Services and Financials.
What are the top holdings of the KCAI ETF and MCHI ETF?
KCAI top holdings include EOPTOLINK TECHNOLOGY INC, SATELLITE CHEMICAL CO LTD and CONSTR BANK. MCHI holds in its top three: TENCENT HOLDINGS, ALIBABA GROUP HOLDING LTD and CHINA CONSTRUCTION BANK.
Which ETF is more diversified: KCAI or MCHI?
KCAI holds 40 securities with 48.47% of its assets in the top 15. MCHI has 577 securities and a top 15 weight of 50.49%.
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