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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Matthews China Dividend 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 China Dividend Fund
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.60% | 5.60% | |||||||||||
| 2025 | 1.78% | 5.74% | 3.15% | -3.89% | 2.78% | 3.66% | 5.78% | 6.25% | 4.19% | -2.08% | 0.07% | -0.79% | 29.41% |
| 2024 | -9.62% | 6.51% | 0.10% | 5.23% | 4.60% | -2.36% | -2.50% | 1.14% | 18.25% | -3.18% | -3.37% | 1.73% | 14.93% |
| 2023 | 10.43% | -8.80% | 2.13% | -3.96% | -10.12% | 2.71% | 7.72% | -9.03% | -3.12% | -4.91% | -1.96% | -1.71% | -20.68% |
| 2022 | -6.20% | -3.01% | -8.18% | -4.32% | 0.99% | 6.85% | -5.65% | -2.78% | -9.60% | -12.25% | 27.63% | 3.99% | -16.72% |
| 2021 | 1.93% | -0.85% | -0.05% | 4.39% | 3.48% | 2.74% | -10.12% | 4.68% | -3.49% | -0.66% | -1.59% | -0.11% | -0.60% |
Benchmark Metrics
Matthews China Dividend Fund has an annualized alpha of 1.71%, beta of 0.56, and R² of 0.30 versus S&P 500 Index. Calculated based on daily prices since December 01, 2009.
- This fund participated in 65.28% of S&P 500 Index downside but only 57.55% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.56 may look defensive, but with R² of 0.30 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R² of 0.30 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
- 1.71%
- Beta
- 0.56
- R²
- 0.30
- Upside Capture
- 57.55%
- Downside Capture
- 65.28%
Expense Ratio
MCDFX has a high expense ratio of 1.20%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Matthews China Dividend Fund (MCDFX) and compare them to a chosen benchmark (S&P 500 Index).
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
Dividends
Dividend History
Matthews China Dividend Fund provided a 3.84% dividend yield over the last twelve months, with an annual payout of $0.59 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.59 | $0.59 | $0.47 | $0.44 | $0.78 | $1.84 | $0.77 | $0.26 | $1.61 | $1.68 | $0.48 | $0.89 |
Dividend yield | 3.84% | 4.05% | 3.97% | 4.08% | 5.56% | 10.35% | 3.91% | 1.60% | 11.25% | 9.52% | 3.38% | 6.42% |
Monthly Dividends
The table displays the monthly dividend distributions for Matthews China Dividend 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 | |||||||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.32 | $0.59 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.32 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.15 | $0.47 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.33 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.11 | $0.44 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.42 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.36 | $0.78 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.38 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.46 | $1.84 |
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 China Dividend 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 China Dividend Fund was 47.71%, occurring on Jan 22, 2024. The portfolio has not yet recovered.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -47.71% | Jul 2, 2021 | 642 | Jan 22, 2024 | — | — | — |
| -30.14% | Jun 3, 2015 | 59 | Aug 25, 2015 | 446 | Jun 2, 2017 | 505 |
| -23.89% | Jan 30, 2018 | 540 | Mar 23, 2020 | 71 | Jul 2, 2020 | 611 |
| -22.85% | Jan 13, 2011 | 182 | Oct 3, 2011 | 272 | Nov 1, 2012 | 454 |
| -12.32% | Feb 18, 2021 | 13 | Mar 8, 2021 | 59 | Jun 1, 2021 | 72 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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