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.
Fund Basics
| Fund sponsor | Matthews International Capital Man |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 13, 2022 |
| Assets (mns) | $33 |
| 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
| PINDUODUO, INC. SPONSORED ADR CLASS A | 7.8 % |
| ALIBABA GROUP HOLDING LTD. | 6.9 % |
| MEITUAN DIANPING | 5.0 % |
| CHINA INTERNATIONAL CAPITAL CORP. LTD. C | 4.6 % |
| CITIC SECURITIES CO LTD-H | 4.6 % |
| TENCENT HOLDINGS LTD | 4.6 % |
| CHINA MERCHANTS BANK -A | 4.6 % |
| JD.COM, INC. CLASS A | 4.4 % |
| KE HOLDINGS, INC. SPONSORED ADR CLASS A | 3.5 % |
| FOCUS MEDIA INFORMATION TECHNOLOGY CO LT | 2.3 % |
Constituent Breakdown
| Number of holdings | 60 |
| Herfindahl-Hirschman Index | 308 |
| Wgt avg mkt cap (mns) | $63,098 |
| Large cap (>$10bn) | 63.9% |
| Mid cap ($2-10bn) | 18.2% |
| Small cap (<$2bn) | 2.7% |
| Developed mkts. | 27.1% |
| Emerging mkts. | 72.9% |
Country Exposure
 |
CHINA | 92.0 % |
 |
HONG KONG | 5.7 % |
Historical Performance
Standardized Annual Returns (as of 02/28/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -0.5% | -- | -- | -- | -- | -- | 1.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 28 |
| Turnover | 1.9% |
| Avg. Bid/Ask (% of price) | 0.30% |
| ADV of underlying (mns) | $6,664 |
Technical Indicators
| Recent close | $23.03 |
| 30d moving avg. | $24.79 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 29 |
| Short interest (ETF) | 1.5% |
| 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 |
|---|---|---|---|---|
| KWEB | KraneShares CSI China Internet ETF | 31.0% | -10 bp | -10.1% |
| MINV | Matthews Asia Innovators Active ETF | 30.3% | 0 bp | -10.3% |
| CXSE | WisdomTree China ex-State-Owned Enterprises Fund | 29.6% | -47 bp | -3.3% |
| CHIQ | Global X MSCI China Consumer ETF | 28.8% | -14 bp | -5.4% |
| KEJI | Global X China Innovation ETF | 28.8% | -4 bp | -6.5% |
| EMQQ | EMQQ The Emerging Markets Internet & Ecommerce ETF | 27.9% | +7 bp | -7.4% |
| FDNI | First Trust Dow Jones International Internet ETF | 26.3% | -14 bp | -6.9% |
| MCHI | iShares MSCI China ETF | 25.9% | -22 bp | +0.8% |
| TCHI | iShares MSCI China Multisector Tech ETF | 25.8% | -20 bp | -5.9% |
| FLCH | Franklin FTSE China ETF | 25.4% | -60 bp | +1.0% |
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
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2022 | 2023E | Fwd Est | 2024E | |
| 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 3/17/2023
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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 Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
MCH
9.7%
Cat. Avg
8.5%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 9.7% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 185 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 8.5% and a standard deviation of
4.4%. MCH's ALTAR Score™ is approximately
0.3 standard deviations
above
the category average. This places MCH in the 61st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
MCH
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| MCH | 79.0 | 29.5 | 108.5 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .