Both are US-listed iShares (BlackRock) China ETFs, so at a glance they look interchangeable — but they solve very different jobs. MCHI is the "whole market in one fund" default; FXI is a concentrated bet on China's 50 largest H-shares. Here is the head-to-head so you can choose on purpose rather than by ticker familiarity.
Verified snapshot figures (fees, AUM, holdings, yield) as of August 2026. Live prices as of Sep 14, 2026 (delayed Nasdaq snapshot, source: prices.json).
| Metric | MCHI — iShares MSCI China | FXI — iShares China Large-Cap |
|---|---|---|
| Issuer | iShares (BlackRock) | iShares (BlackRock) |
| Tracks | MSCI China Index | FTSE China 50 Index |
| Strategy | Broad, diversified China | Large-cap H-shares (mega-cap tilt) |
| Listing mix | Offshore: HK + US ADRs (~80% HK/US, ~17% A-share via Connect) | Offshore: 100% H-shares (HK-listed, HKD) |
| Expense ratio | 0.59% | 0.74% |
| AUM | $6.2B | $4.2B |
| Dividend yield | ~2.0% | ~2.0% |
| # Holdings | 575 | 52 |
| Top holdings | Tencent, Alibaba, China Construction Bank | Alibaba, China Construction Bank, Tencent |
| Last price | $53.00 (Sep 14, 2026) | $34.62 (Sep 14, 2026) |
| Best for | Core, diversified China holding in one position | Large-cap, income-tilted H-share exposure |
MCHI holds 575 companies; FXI holds just 52 (the FTSE China 50). If one mega-cap bank or a single regulatory move hits the big state-linked names, FXI feels it far more. MCHI's wide basket dilutes any one name. The trade-off: concentration is what gives FXI a cleaner "China blue-chip" tilt if that is what you want.
MCHI spans the whole economy — banks, telecoms, energy, internet and the tech giants, across Hong Kong and US-listed ADRs, with a slice of mainland A-shares via Stock Connect. FXI is 100% H-shares — the largest HK-listed Chinese companies, heavily weighted to SOE banks, telecoms and energy. If you specifically want the onshore A-share economy, neither is ideal; ASHR (CSI 300) is the dedicated A-share route.
MCHI is cheaper (0.59% vs 0.74%). Both pay a similar dividend of about 2.0%, because both own high-yielding SOE banks and telecoms — FXI even more so, given its bank-heavy weighting.
Both trade in USD on US exchanges, but the underlying FXI basket is almost entirely HKD-denominated H-shares, while MCHI blends HKD and USD (ADR) exposures. Either way you take on China equity risk plus USD/CNY (and for FXI, HKD) currency movement.
We do not publish 1-year / 3-year / 5-year return figures on this page. Historical numbers change constantly and we will not show unverified performance. For current trailing returns, open the official issuer fact sheet (iShares for both MCHI and FXI) or use your broker's fund research page. What we can show with confidence is the verified structure above (fees, size, holdings, yield) and the delayed live price.