MCHvsGXCETF Comparison
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Matthews China Active ETF (MCH) and State Street SPDR S&P China ETF (GXC) belong to the same industry segment: China Blended Cap. MCH's top 3 sector exposures are Finance, Technology and Industrials. In contrast, GXC's top sector exposures are Technology, Finance and Consumer Non-Cyclicals. MCH is more expensive with a Total Expense Ratio (TER) of 0.79%, versus 0.59% for GXC. MCH is down -2.89% year-to-date (YTD) with -$580K in YTD flows. GXC performs worse with -8.92% YTD performance, and +$23M in YTD flows. Run a side-by-side ETF comparison of MCH and GXC 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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MCH vs GXC performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/14/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MCH GXC | -2.95%-2.16% | -7.75%-3.88% | -2.89%-8.92% | -5.52%-12.47% | +37.43%+31.03% | n/a-12.81% |
| Flows | MCH GXC | -$580K+$9M | -$580K+$22M | -$580K+$23M | -$1M+$48M | -$13M-$403M | --$649M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MCH GXC | +23.61%+18.01% | +22.57%+18.69% | +25.42%+22.40% | n/a+24.75% |
| Max drawdown | MCH GXC | -9.58%-7.81% | -15.02%-19.17% | -23.38%-23.08% | n/a-47.77% |
| Max drawdown duration | MCH GXC | 84d50d | 228d347d | 309d284d | n/a1437d |
Trading data
MCH | GXC | |
Last sale 9/14/2026 at 1:30 PM | $27.71 | $87.55 |
| Previous close 09/14/2026 | $27.65 | $88.01 |
| Consolidated volume 09/14/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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MCH
is actively managed and doesn’t replicate an indexMCH | GXC | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/14/2026 at 1:30 PM
Live
Closed
MCH | GXC | |
|---|---|---|
| Last price | $27.71 | $87.55 |
| 1D performance | +0.23% | -0.52% |
| AuM | $21.50 M | $467.23 M |
| E/R | 0.79% | 0.59% |
Characteristics
MCH | GXC | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Matthews Asia | State Street Investment Management |
| Benchmark | - | S&P China BMI Index |
| N° of holdings | 52 | 1173 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 13, 2022 | March 20, 2007 |
| ESG | No | No |
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Exposure
Countries
MCH
China
88.38%
Other
11.62%
GXC
China
88.27%
Other
11.73%
Sectors
MCH
Finance
27.26%
Technology
26.59%
Industrials
12.03%
Non-Energy Materi.
9.27%
Consumer Non-Cycl.
8.75%
Other
16.11%
GXC
Technology
24.23%
Finance
20.15%
Consumer Non-Cycl.
14.58%
Industrials
9.29%
Other
31.75%
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Diversification
MCH
Total weight of top 15 holdings out of 15
56.79%
GXC
Total weight of top 15 holdings out of 15
38.88%
Top 15 holdings
Data as of July 31, 2026
MCH
Tencent Holdings Ltd.
13.52%
Alibaba Group Holding Ltd.
6.64%
Meituan
4.73%
Ping An Insurance (Group) Co. of China Ltd.
3.21%
China International Capital Corp. Ltd.
3.03%
China Life Insurance Co. Ltd.
2.96%
Zijin Mining Group Co., Ltd.
2.84%
JD.com, Inc.
2.80%
China Merchants Bank Co., Ltd.
2.78%
China Construction Bank Corp.
2.74%
Jiangsu Zhongtian Technology Co., Ltd.
2.68%
Contemporary Amperex Technology Co., Ltd.
2.31%
China Merchants Securities Co., Ltd.
2.25%
New China Life Insurance Co., Ltd.
2.17%
PDD Holdings, Inc.
2.12%
GXC
Tencent Holdings Ltd.
10.40%
Alibaba Group Holding Ltd.
8.08%
China Construction Bank Corp.
3.32%
Industrial & Commercial Bank of China Ltd.
2.13%
PDD Holdings, Inc.
1.96%
Meituan
1.88%
Xiaomi Corp.
1.80%
Bank of China Ltd.
1.60%
Ping An Insurance (Group) Co. of China Ltd.
1.38%
NetEase, Inc.
1.31%
JD.com, Inc.
1.29%
BYD Co., Ltd.
1.26%
Baidu, Inc.
0.88%
China Life Insurance Co. Ltd.
0.81%
Trip.com Group Ltd.
0.78%
Frequently asked questions about MCH and GXC
How have the MCH and GXC ETFs performed in 2026?
As of September 14, 2026, MCH is down -2.89% year-to-date (YTD), while GXC has lost -8.92%. That puts MCH better performer ahead so far this year.
Which ETF is attracting more investor money: MCH or GXC?
Year-to-date, the MCH ETF saw -$580K in flows, compared to +$23M for GXC.
Which ETF is more volatile: MCH or GXC?
Over the past year, MCH had a volatility of 22.57%, while GXC experienced 18.69%.
Which ETF is bigger: MCH or GXC?
As of September 14, 2026, MCH holds $21.50 M in assets under management (AUM), while GXC manages $467.23 M.
What sectors do the MCH and GXC ETFs invest in?
MCH leans toward sectors like Finance, Technology and Industrials. Meanwhile, GXC focuses on Technology, Finance and Consumer Non-Cyclicals.
What are the top holdings of the MCH ETF and GXC ETF?
MCH top holdings include Tencent Holdings Ltd., Alibaba Group Holding Ltd. and Meituan. GXC holds in its top three: Tencent Holdings Ltd., Alibaba Group Holding Ltd. and China Construction Bank Corp..
Which ETF is more diversified: MCH or GXC?
MCH holds 53 securities with 56.79% of its assets in the top 15. GXC has 1236 securities and a top 15 weight of 38.88%.
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Latest news about MCH & GXC
Andrew Mattock - Matthews China Active ETF (MCH)
March 15, 2023
MCH
Chinese ETFs surge after Zero-COVID policy is relaxed
December 8, 2022
GXC
Exploring fresh dividend investing strategies and foreign stocks
September 17, 2022
MCH
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