- ISIN
- US5771308591
- CUSIP
- 577130859
- Issuer
- Matthews
- Inception Date
- Oct 30, 2005
- Category
- Asia Pacific Equities
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Growth
Share Price Chart
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Performance
MINDX Performance Chart
Matthews India Fund (MINDX) is down 8.9% since the beginning of the year. MINDX is currently trading at $22 per share. Investors who bought $1,000 worth of MINDX shares 5 years ago would now be looking at an investment worth $1,214.
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Returns By Period
Matthews India Fund (MINDX) has returned -8.93% so far this year and -5.80% over the past 12 months. Over the last ten years, MINDX has returned 6.02% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Matthews India Fund
- 1D
- 1.29%
- 1M
- 4.78%
- YTD
- -8.93%
- 6M
- -9.72%
- 1Y
- -5.80%
- 3Y*
- 4.79%
- 5Y*
- 3.95%
- 10Y*
- 6.02%
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%
MINDX Monthly Returns History
Based on dividend-adjusted daily data since Oct 31, 2005, MINDX's average daily return is +0.04%, while the average monthly return is +0.99%. At this rate, an investment would double in approximately 5.9 years.
Historically, 60% of months were positive and 40% were negative. The best month was May 2009 with a return of +39.8%, while the worst month was Mar 2020 at -29.8%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.
On a daily basis, MINDX closed higher 53% of trading days. The best single day was May 18, 2009 with a return of +24.0%, while the worst single day was Mar 23, 2020 at -14.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -6.31% | -0.13% | -12.48% | 6.85% | 0.52% | 3.54% | -8.93% | ||||||
| 2025 | -5.49% | -6.64% | 6.22% | 4.09% | 1.13% | 2.76% | -3.78% | -1.30% | 1.76% | 3.99% | 1.47% | -1.73% | 1.61% |
| 2024 | 3.15% | 2.13% | -0.54% | 2.21% | -1.20% | 6.52% | 3.16% | 1.66% | 1.48% | -6.10% | 0.74% | -3.06% | 9.99% |
| 2023 | -0.81% | -1.69% | 1.11% | 3.67% | 3.19% | 5.75% | 1.66% | -0.24% | 0.12% | -2.40% | 6.55% | 4.54% | 23.14% |
| 2022 | -0.64% | -5.50% | 1.06% | -1.72% | -3.84% | -5.03% | 8.67% | 0.54% | -3.74% | 0.79% | 4.95% | -4.87% | -9.87% |
| 2021 | -3.35% | 5.79% | 0.67% | -1.15% | 7.21% | 1.78% | 1.23% | 8.43% | -0.53% | -0.35% | -3.65% | 1.27% | 17.87% |
Benchmark Metrics
Matthews India Fund has an annualized alpha of 4.41%, beta of 0.65, and R2 of 0.32 versus S&P 500 Index. Calculated based on daily prices since October 31, 2005.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (90.70%) than losses (90.56%) - typical of diversified or defensive assets.
- Beta of 0.65 may look defensive, but with R2 of 0.32 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 0.32 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
- 4.41%
- Beta
- 0.65
- R²
- 0.32
- Upside Capture
- 90.70%
- Downside Capture
- 90.56%
Expense Ratio
MINDX has a high expense ratio of 1.15%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MINDX ranks 1 for risk / return — in the bottom 1% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Matthews India Fund (MINDX) 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.
| MINDX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.38 | ||
| Sortino ratioReturn per unit of downside risk | -3.16 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.37 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 2.78 | -3.04 |
| Martin ratioReturn relative to average drawdown | -0.60 | 12.44 | -13.04 |
Dividends
Dividend History
Matthews India Fund provided a 7.42% dividend yield over the last twelve months, with an annual payout of $1.63 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.63 | $1.63 | $3.81 | $0.81 | $3.38 | $2.78 | $0.80 | $2.80 | $4.34 | $0.00 | $0.00 | $0.26 |
Dividend yield | 7.42% | 6.76% | 15.03% | 3.07% | 15.30% | 9.87% | 3.03% | 12.04% | 16.50% | 0.00% | 0.00% | 0.99% |
Monthly Dividends
The table displays the monthly dividend distributions for Matthews India 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 | $1.63 | $1.63 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.81 | $3.81 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.81 | $0.81 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.38 | $3.38 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.78 | $2.78 |
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 India 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 India Fund was 72.18%, occurring on Mar 9, 2009. Recovery took 399 trading sessions.
The current Matthews India Fund drawdown is 16.83%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -72.18%Mar 2009 | 1y 2mo | 1y 7mo | 2y 9moJan 2008 - Oct 2010 |
COVID crash2020 | -48.46%Mar 2020 | 2y 2mo | 9mo 12d | 2y 11moJan 2018 - Dec 2020 |
2013 bear market2013 | -44.76%Aug 2013 | 2y 9mo | 9mo 18d | 3y 7moNov 2010 - Jun 2014 |
2006 bear market2006 | -32.08%Jun 2006 | 1mo 4d | 4mo 21d | 5mo 25dMay 2006 - Nov 2006 |
2026 bear market2026 | -26.51%Mar 2026 | 1y 6mo | — | 1y 9moSep 2024 - now |
Drawdown Indicators
| MINDX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.18% | -56.78% | -15.40% |
Max Drawdown (1Y)Largest decline over 1 year | -21.96% | -9.10% | -12.86% |
Max Drawdown (3Y)Largest decline over 3 years | -26.51% | -18.90% | -7.61% |
Max Drawdown (5Y)Largest decline over 5 years | -26.51% | -25.43% | -1.08% |
Max Drawdown (10Y)Largest decline over 10 years | -48.46% | -33.92% | -14.54% |
Current DrawdownCurrent decline from peak | -16.83% | -1.80% | -15.03% |
Average DrawdownAverage peak-to-trough decline | -14.95% | -10.71% | -4.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.12% | 2.03% | +7.09% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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