KWEB vs MCHI Stock Comparison: AI Score, Valuation, Performance and Upside
KWEB provides concentrated, high-beta exposure to Chinese internet companies, while MCHI offers broader Chinese equity market exposure across multiple sectors. Both carry significant China-specific risks including regulatory uncertainty and geopolitical tensions, but KWEB amplifies returns — and drawdowns — when the Chinese internet sector moves.
KWEB vs MCHI compares a concentrated Chinese internet sector ETF against a diversified broad China equity ETF, offering investors two different ways to gain Chinese market exposure with very different volatility and sector profiles.
MCHI holds the edge across 4 of 5 key metrics in this comparison. MCHI has delivered stronger 1-year price return (-16.25% vs -33.93% for KWEB).
- Want concentrated exposure to China's leading internet and technology companies
- Are comfortable with higher volatility in exchange for focused sector upside
- Believe China's internet sector is undervalued relative to global peers and regulatory risk has peaked
- Want broader, more diversified Chinese equity market exposure across multiple sectors
- Prefer lower sector concentration risk compared to a China internet-only ETF
- Want Chinese market beta without betting specifically on the internet sector's outperformance
| Metric | KWEB | MCHI |
|---|---|---|
| ETF scorei | 21.5 | 24.3 |
| Latest closei | $24.32 | $51.56 |
| 1M returni | -0.98% | -1.38% |
| 3M returni | -14.79% | -7.95% |
| 6M returni | -18.28% | -11.60% |
| 1Y returni | -33.93% | -16.25% |
The ETF score weights long-term returns and risk-adjusted performance most heavily, but still rewards low expense ratios, larger fund size, and broader diversification — so it can favor low-cost, broad, mega-cap funds over smaller thematic or actively-managed funds even when the latter have delivered stronger returns.
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | KWEB | MCHI |
|---|---|---|
| 1Y ago | $7.01K (-29.9%) started 2025-11-04 | $8.53K (-14.7%) started 2025-11-04 |
| 5Y ago | $7.55K (-24.5%) started 2021-11-05 | $9.62K (-3.8%) started 2021-11-05 |
| 10Y ago | $10.15K (+1.5%) started 2016-11-07 | $15.98K (+59.8%) started 2016-11-07 |
Hypothetical — past performance does not guarantee future results.
| Metric | KWEB | MCHI |
|---|---|---|
| Expense ratioi | 0.69% | 0.59% |
| Total assets (AUM)i | $4.22B | $5.49B |
| Dividend yieldi | 9.23% | 2.24% |
| Trailing P/Ei | 13.43 | 11.65 |
| Betai | 0.37 | 0.35 |
| 52-week change | -33.93% | -16.25% |
| Metric | KWEB | MCHI |
|---|---|---|
| 1Y returni | -33.93% | -16.25% |
| 6M returni | -18.28% | -11.60% |
| 3M returni | -14.79% | -7.95% |
| 1M returni | -0.98% | -1.38% |
| 1Y Sharpe ratio | -1.61 | -1.08 |
| Betai | 0.37 | 0.35 |
| Dividend yieldi | 9.23% | 2.24% |
| 5Y CAGR | -9.07% | -3.12% |
Over the past year, KWEB and MCHI have moved strongly in the same direction (correlation of 0.92), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | KWEB | MCHI |
|---|---|---|---|
| 1Y | Growthi | -33.93% | -16.25% |
| CAGRi | -33.95% | -16.26% | |
| Volatilityi | 26.50% | 19.04% | |
| Sharpe ratioi | -1.61 | -1.08 | |
| Sortino ratioi | -2.23 | -1.50 | |
| Max drawdowni | 39.62% | 23.30% | |
| Current drawdowni | 35.42% | 19.23% | |
| Avg drawdowni | 21.86% | 11.25% | |
| Ulcer Indexi | 24.63% | 12.80% | |
| Max daily dropi | 4.54% | 2.85% | |
| Max wkly dropi | 8.07% | 6.43% | |
| 5Y | Growthi | -37.81% | -14.64% |
| CAGRi | -9.07% | -3.12% | |
| Volatilityi | 45.99% | 30.05% | |
| Sharpe ratioi | -0.08 | -0.11 | |
| Sortino ratioi | -0.13 | -0.16 | |
| Max drawdowni | 61.95% | 49.23% | |
| Current drawdowni | 43.90% | 21.58% | |
| Avg drawdowni | 34.99% | 24.44% | |
| Ulcer Indexi | 36.62% | 27.10% | |
| Max daily dropi | 14.17% | 10.81% | |
| Max wkly dropi | 24.83% | 17.10% | |
| 10Y | Growthi | -21.72% | +30.86% |
| CAGRi | -2.42% | +2.73% | |
| Volatilityi | 40.08% | 27.31% | |
| Sharpe ratioi | 0.02 | 0.07 | |
| Sortino ratioi | 0.03 | 0.10 | |
| Max drawdowni | 80.92% | 62.84% | |
| Current drawdowni | 71.87% | 40.46% | |
| Avg drawdowni | 43.28% | 28.53% | |
| Ulcer Indexi | 50.98% | 33.90% | |
| Max daily dropi | 14.17% | 10.81% | |
| Max wkly dropi | 24.83% | 17.10% |
| Category | KWEB | MCHI |
|---|---|---|
| Fund name | KraneShares CSI China Internet ETF | iShares MSCI China ETF |
| Type | ETF | ETF |
| Expense ratioi | 0.69% | 0.59% |
| Total assets (AUM)i | $4.22B | $5.49B |
| Dividend yieldi | 9.23% | 2.24% |
- Pure-play exposure to China's largest and highest-growth internet and technology companies
- Higher return potential during Chinese internet sector rallies due to concentrated positioning
- Includes both U.S.-listed ADRs and Hong Kong-listed shares of Chinese internet companies
- Diversified across multiple Chinese equity sectors reduces single-sector regulatory or market risk
- Includes financial, energy, consumer, and industrial companies alongside tech and internet holdings
- Broader diversification provides somewhat less volatile exposure to Chinese economic growth than KWEB
- Highly concentrated in the Chinese internet sector, creating significant drawdown risk during regulatory crackdowns or market selloffs
- Significant regulatory risk from Beijing's periodic clampdowns on the internet sector
- Delisting risk for U.S.-listed Chinese ADRs adds an additional risk layer beyond market performance
- Still significantly concentrated in Chinese equities, carrying all the country-specific risks including geopolitics, regulation, and variable-interest-entity (VIE) structure
- Lower internet weighting means underperformance versus KWEB during Chinese internet sector rallies
- China-U.S. geopolitical tensions and potential sanctions create persistent country risk
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