iShares MSCI China ETF (NYSEARCA:MCHI) is down 8.74% year-to-date, giving back most of a strong 2025 rally that had investors excited about a Chinese equity recovery. The fund exists to solve a specific access problem: most investors cannot easily buy shares on the Hong Kong Stock Exchange or mainland Chinese markets, so MCHI packages that exposure into a single U.S.-listed ETF tracking the MSCI China Index. But access and performance are two different things, and right now the performance side is under rea ...