EEMA vs. MATFX
EEMA (iShares MSCI Emerging Markets Asia ETF) and MATFX (Matthews Asia Innovators Fund) are both Asia Pacific Equities funds. Over the past 10 years, EEMA returned 11.30%/yr vs 16.89%/yr for MATFX. A 0.80 correlation means they provide meaningful diversification when combined. EEMA charges 0.50%/yr vs 1.18%/yr for MATFX.
Performance
EEMA vs. MATFX - Performance Comparison
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Returns By Period
In the year-to-date period, EEMA achieves a 29.62% return, which is significantly lower than MATFX's 69.73% return. Over the past 10 years, EEMA has underperformed MATFX with an annualized return of 11.30%, while MATFX has yielded a comparatively higher 16.89% annualized return.
EEMA
- 1D
- 0.76%
- 1M
- 7.84%
- YTD
- 29.62%
- 6M
- 31.87%
- 1Y
- 55.09%
- 3Y*
- 25.38%
- 5Y*
- 7.89%
- 10Y*
- 11.30%
MATFX
- 1D
- 5.11%
- 1M
- 10.25%
- YTD
- 69.73%
- 6M
- 72.29%
- 1Y
- 103.56%
- 3Y*
- 35.64%
- 5Y*
- 11.85%
- 10Y*
- 16.89%
EEMA vs. MATFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EEMA iShares MSCI Emerging Markets Asia ETF | 29.62% | 33.27% | 10.23% | 6.57% | -21.49% | -4.22% | 25.17% | 18.60% | -15.76% | 43.41% |
MATFX Matthews Asia Innovators Fund | 69.73% | 30.22% | 16.47% | -1.77% | -24.66% | -5.90% | 86.75% | 29.60% | -18.59% | 52.78% |
Correlation
The correlation between EEMA and MATFX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2012 | 0.80 |
The correlation between EEMA and MATFX has been stable across timeframes, ranging from 0.77 to 0.87 - a consistent structural relationship.
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Return for Risk
EEMA vs. MATFX — Risk / Return Rank
EEMA
MATFX
EEMA vs. MATFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Asia ETF (EEMA) and Matthews Asia Innovators Fund (MATFX). 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.
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.
| EEMA | MATFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.72 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.87 | 9.54 | -5.67 |
| Martin ratioReturn relative to average drawdown | 14.07 | 25.35 | -11.27 |
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Drawdowns
EEMA vs. MATFX - Drawdown Comparison
The maximum EEMA drawdown since its inception was -44.18%, smaller than the maximum MATFX drawdown of -76.88%. Use the drawdown chart below to compare losses from any high point for EEMA and MATFX.
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Drawdown Indicators
| EEMA | MATFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.18% | -76.88% | +32.70% |
Max Drawdown (1Y)Largest decline over 1 year | -14.30% | -11.33% | -2.97% |
Max Drawdown (3Y)Largest decline over 3 years | -20.23% | -18.19% | -2.04% |
Max Drawdown (5Y)Largest decline over 5 years | -40.46% | -45.33% | +4.87% |
Max Drawdown (10Y)Largest decline over 10 years | -44.18% | -52.42% | +8.24% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -13.94% | -28.13% | +14.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.93% | 4.20% | -0.27% |
Volatility
EEMA vs. MATFX - Volatility Comparison
The current volatility for iShares MSCI Emerging Markets Asia ETF (EEMA) is 10.29%, while Matthews Asia Innovators Fund (MATFX) has a volatility of 14.80%. This indicates that EEMA experiences smaller price fluctuations and is considered to be less risky than MATFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EEMA | MATFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.29% | 14.80% | -4.51% |
Volatility (6M)Calculated over the trailing 6-month period | 19.37% | 23.28% | -3.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.05% | 26.03% | -3.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.75% | 25.16% | -4.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.03% | 23.00% | -1.97% |
EEMA vs. MATFX - Expense Ratio Comparison
EEMA has a 0.50% expense ratio, which is lower than MATFX's 1.18% expense ratio.
Dividends
EEMA vs. MATFX - Dividend Comparison
EEMA's dividend yield for the trailing twelve months is around 1.27%, while MATFX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EEMA iShares MSCI Emerging Markets Asia ETF | 1.27% | 1.48% | 1.74% | 2.02% | 1.78% | 2.19% | 1.15% | 1.86% | 2.17% | 1.74% | 1.74% | 2.44% |
MATFX Matthews Asia Innovators Fund | 0.00% | 0.00% | 0.00% | 0.00% | 26.54% | 31.07% | 1.67% | 0.29% | 2.63% | 8.44% | 0.00% | 15.24% |
Frequently Asked Questions
EEMA and MATFX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MATFX has higher volatility (14.80%) compared to EEMA (10.29%). In terms of maximum drawdown, EEMA dropped -44.18% vs MATFX's -76.88%.
MATFX currently has the higher Sharpe Ratio (4.15 vs 2.52), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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