ASIA vs. FNGS

Last updated Apr 1, 2026

Compare and contrast key facts about Matthews Pacific Tiger Active ETF (ASIA) and MicroSectors FANG+ ETN (FNGS).

ASIA and FNGS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ASIA is an actively managed fund by Matthews. It was launched on Sep 21, 2023. FNGS is a passively managed fund by BMO that tracks the performance of the NYSE FANG+ Index. It was launched on Nov 12, 2019.

Performance

ASIA vs. FNGS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Pacific Tiger Active ETF (ASIA) and MicroSectors FANG+ ETN (FNGS). The values are adjusted to include any dividend payments, if applicable.

ASIA vs. FNGS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ASIA Matthews Pacific Tiger Active ETF	1.94%	32.06%	3.41%	0.01%
FNGS MicroSectors FANG+ ETN	-12.40%	18.64%	51.99%	18.57%

Returns By Period

In the year-to-date period, ASIA achieves a 1.94% return, which is significantly higher than FNGS's -12.40% return.

ASIA

• 1D: 3.32%
• 1M: -10.98%
• YTD: 1.94%
• 6M: 5.62%
• 1Y: 35.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FNGS

• 1D: 4.69%
• 1M: -4.21%
• YTD: -12.40%
• 6M: -14.82%
• 1Y: 19.65%
• 3Y*: 30.42%
• 5Y*: 15.68%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ASIA vs. FNGS - Expense Ratio Comparison

ASIA has a 0.79% expense ratio, which is higher than FNGS's 0.58% expense ratio.

ASIA

Matthews Pacific Tiger Active ETF

FNGS

MicroSectors FANG+ ETN

Return for Risk

ASIA vs. FNGS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASIA

ASIA Risk / Return Rank: 83
ASIA Sharpe Ratio Rank: 84
ASIA Sortino Ratio Rank: 84
ASIA Omega Ratio Rank: 83
ASIA Calmar Ratio Rank: 83
ASIA Martin Ratio Rank: 82

FNGS

FNGS Risk / Return Rank: 41
FNGS Sharpe Ratio Rank: 43
FNGS Sortino Ratio Rank: 51
FNGS Omega Ratio Rank: 45
FNGS Calmar Ratio Rank: 36
FNGS Martin Ratio Rank: 32

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASIA vs. FNGS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Pacific Tiger Active ETF (ASIA) and MicroSectors FANG+ ETN (FNGS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ASIA	FNGS	Difference
Sharpe ratio Return per unit of total volatility	1.64	0.73	+0.91
Sortino ratio Return per unit of downside risk	2.19	1.26	+0.93
Omega ratio Gain probability vs. loss probability	1.33	1.17	+0.16
Calmar ratio Return relative to maximum drawdown	2.38	0.84	+1.55
Martin ratio Return relative to average drawdown	8.98	2.59	+6.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ASIA vs. FNGS - Sharpe Ratio Comparison

The current ASIA Sharpe Ratio is 1.64, which is higher than the FNGS Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of ASIA and FNGS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ASIA	FNGS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	0.73	+0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.90	-0.17

Correlation

The correlation between ASIA and FNGS is 0.55, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ASIA vs. FNGS - Dividend Comparison

ASIA's dividend yield for the trailing twelve months is around 1.03%, while FNGS has not paid dividends to shareholders.

	TTM	2025	2024	2023
ASIA Matthews Pacific Tiger Active ETF	1.03%	1.05%	0.58%	0.12%
FNGS MicroSectors FANG+ ETN	0.00%	0.00%	0.00%	0.00%

Drawdowns

ASIA vs. FNGS - Drawdown Comparison

The maximum ASIA drawdown since its inception was -23.95%, smaller than the maximum FNGS drawdown of -48.98%. Use the drawdown chart below to compare losses from any high point for ASIA and FNGS.

Drawdown Indicators

	ASIA	FNGS	Difference
Max Drawdown Largest peak-to-trough decline	-23.95%	-48.98%	+25.03%
Max Drawdown (1Y) Largest decline over 1 year	-14.47%	-22.93%	+8.46%
Max Drawdown (5Y) Largest decline over 5 years	—	-48.98%	—
Current Drawdown Current decline from peak	-11.63%	-19.32%	+7.69%
Average Drawdown Average peak-to-trough decline	-5.00%	-11.02%	+6.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	7.43%	-3.59%

Volatility

ASIA vs. FNGS - Volatility Comparison

Matthews Pacific Tiger Active ETF (ASIA) has a higher volatility of 11.40% compared to MicroSectors FANG+ ETN (FNGS) at 8.31%. This indicates that ASIA's price experiences larger fluctuations and is considered to be riskier than FNGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASIA	FNGS	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.40%	8.31%	+3.09%
Volatility (6M) Calculated over the trailing 6-month period	16.54%	15.68%	+0.86%
Volatility (1Y) Calculated over the trailing 1-year period	21.58%	26.98%	-5.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.47%	29.97%	-10.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.47%	31.34%	-11.87%