- ISIN
- US5771308831
- CUSIP
- 577130883
- Issuer
- Matthews
- Inception Date
- Dec 26, 1999
- Category
- Asia Pacific Equities
- Min. Investment
- $2,500
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Growth
Share Price Chart
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Performance
MATFX Performance Chart
Matthews Asia Innovators Fund (MATFX) is up 69.7% since the beginning of the year. MATFX is currently trading at $29 per share. Investors who bought $1,000 worth of MATFX shares 5 years ago would now be looking at an investment worth $1,751.
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Returns By Period
Matthews Asia Innovators Fund (MATFX) has returned 69.73% so far this year and 103.56% over the past 12 months. Looking at the last ten years, MATFX has achieved an annualized return of 16.89%, outperforming the S&P 500 Index benchmark, which averaged 13.88% per year.
Matthews Asia Innovators Fund
- 1D
- 5.11%
- 1M
- 10.25%
- YTD
- 69.73%
- 6M
- 72.29%
- 1Y
- 103.56%
- 3Y*
- 35.64%
- 5Y*
- 11.85%
- 10Y*
- 16.89%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
MATFX Monthly Returns History
Based on dividend-adjusted daily data since Dec 27, 1999, MATFX's average daily return is +0.04%, while the average monthly return is +0.86%. At this rate, an investment would double in approximately 6.7 years.
Historically, 57% of months were positive and 43% were negative. The best month was Apr 2026 with a return of +28.1%, while the worst month was Apr 2000 at -20.8%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 7 months.
On a daily basis, MATFX closed higher 51% of trading days. The best single day was Oct 13, 2008 with a return of +14.2%, while the worst single day was Sep 17, 2001 at -13.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 9.02% | 8.44% | -8.79% | 28.12% | 19.03% | 3.21% | 69.73% | ||||||
| 2025 | 3.17% | -0.82% | -0.38% | -1.74% | 5.02% | 7.35% | 4.18% | 4.34% | 9.26% | 1.38% | -6.03% | 1.94% | 30.22% |
| 2024 | -2.25% | 7.55% | 1.97% | -0.25% | 1.85% | 5.45% | -1.96% | 0.40% | 6.69% | -2.31% | 0.84% | -1.97% | 16.47% |
| 2023 | 10.96% | -10.52% | 3.21% | -5.00% | -2.36% | 2.79% | 6.33% | -6.47% | -4.73% | -3.72% | 8.53% | 1.56% | -1.77% |
| 2022 | -5.36% | -6.22% | -8.66% | -4.38% | 0.27% | 4.37% | -3.99% | 0.48% | -11.45% | -10.79% | 22.81% | -0.77% | -24.66% |
| 2021 | 6.74% | 0.98% | -7.89% | 1.89% | 0.41% | 3.39% | -10.77% | 3.56% | -3.90% | 4.14% | -5.36% | 2.39% | -5.90% |
Benchmark Metrics
Matthews Asia Innovators Fund has an annualized alpha of 4.20%, beta of 0.74, and R2 of 0.38 versus S&P 500 Index. Calculated based on daily prices since December 27, 1999.
- This fund captured 117.21% of S&P 500 Index gains and 109.42% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- R2 of 0.38 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 4.20%
- Beta
- 0.74
- R²
- 0.38
- Upside Capture
- 117.21%
- Downside Capture
- 109.42%
Expense Ratio
MATFX has a high expense ratio of 1.18%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MATFX ranks 97 for risk / return — in the top 97% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Matthews Asia Innovators Fund (MATFX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MATFX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.89 | ||
| Omega ratioGain probability vs. loss probability | 1.72 | 1.37 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 9.54 | 2.78 | +6.76 |
| Martin ratioReturn relative to average drawdown | 25.35 | 12.44 | +12.91 |
Dividends
Dividend History
Matthews Asia Innovators Fund provided a 0.00% dividend yield over the last twelve months, with an annual payout of $0.00 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.00 | $0.00 | $0.00 | $0.00 | $3.00 | $5.86 | $0.45 | $0.04 | $0.30 | $1.20 | $0.00 | $1.88 |
Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% | 26.54% | 31.07% | 1.67% | 0.29% | 2.63% | 8.44% | 0.00% | 15.24% |
Monthly Dividends
The table displays the monthly dividend distributions for Matthews Asia Innovators Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.00 | $3.00 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $5.86 | $5.86 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Matthews Asia Innovators Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Matthews Asia Innovators Fund was 76.88%, occurring on Oct 10, 2002. Recovery took 2747 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Dot-com crash2000–2002 | -76.88%Oct 2002 | 2y 7mo | 10y 11mo | 13y 6moMar 2000 - Sep 2013 |
Bear market2022 | -52.42%Oct 2022 | 1y 8mo | 3y 4mo | 5y 9dFeb 2021 - Feb 2026 |
Rate-hike selloffLate 2018 | -30.81%Oct 2018 | 4mo 18d | 1y 2mo | 1y 7moJun 2018 - Jan 2020 |
2016 bear market2016 | -25.00%Dec 2016 | 1y 7mo | 6mo 6d | 2y 1moMay 2015 - Jun 2017 |
COVID crash2020 | -22.76%Mar 2020 | 2mo 2d | 1mo 26d | 3mo 28dJan 2020 - May 2020 |
Drawdown Indicators
| MATFX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.88% | -56.78% | -20.10% |
Max Drawdown (1Y)Largest decline over 1 year | -11.33% | -9.10% | -2.23% |
Max Drawdown (3Y)Largest decline over 3 years | -18.19% | -18.90% | +0.71% |
Max Drawdown (5Y)Largest decline over 5 years | -45.33% | -25.43% | -19.90% |
Max Drawdown (10Y)Largest decline over 10 years | -52.42% | -33.92% | -18.50% |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -28.13% | -10.71% | -17.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.20% | 2.03% | +2.17% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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