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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Matthews Asia Innovators Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Matthews Asia Innovators Fund (MATFX) has returned 6.71% so far this year and 36.32% over the past 12 months. Over the last ten years, MATFX has returned 11.50% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
Matthews Asia Innovators Fund
- 1D
- -1.05%
- 1M
- -9.74%
- YTD
- 6.71%
- 6M
- 3.63%
- 1Y
- 36.32%
- 3Y*
- 15.76%
- 5Y*
- 2.57%
- 10Y*
- 11.50%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Dec 27, 1999, MATFX's average daily return is +0.03%, while the average monthly return is +0.70%. At this rate, your investment would double in approximately 8.3 years.
Historically, 57% of months were positive and 43% were negative. The best month was Nov 2022 with a return of +22.8%, 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% | -9.74% | 6.71% | |||||||||
| 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 2.88%, beta of 0.74, and R² of 0.38 versus S&P 500 Index. Calculated based on daily prices since December 28, 1999.
- This fund captured 112.01% of S&P 500 Index gains and 109.73% 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
- 2.88%
- Beta
- 0.74
- R²
- 0.38
- Upside Capture
- 112.01%
- Downside Capture
- 109.73%
Expense Ratio
MATFX has a high expense ratio of 1.18%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MATFX ranks 80 for risk / return — in the top 80% 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 a chosen benchmark (S&P 500 Index).
| MATFX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.72 | 0.90 | +0.82 |
Sortino ratioReturn per unit of downside risk | 2.28 | 1.39 | +0.90 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.21 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 1.92 | 1.40 | +0.53 |
Martin ratioReturn relative to average drawdown | 6.58 | 6.61 | -0.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore MATFX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
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 | |||||||||
| 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.
The current Matthews Asia Innovators Fund drawdown is 10.64%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -76.88% | Mar 10, 2000 | 649 | Oct 10, 2002 | 2747 | Sep 10, 2013 | 3396 |
| -52.42% | Feb 16, 2021 | 428 | Oct 25, 2022 | 828 | Feb 24, 2026 | 1256 |
| -30.81% | Jun 13, 2018 | 97 | Oct 29, 2018 | 301 | Jan 10, 2020 | 398 |
| -25% | May 26, 2015 | 401 | Dec 22, 2016 | 126 | Jun 26, 2017 | 527 |
| -22.76% | Jan 21, 2020 | 44 | Mar 23, 2020 | 39 | May 18, 2020 | 83 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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