EMSF vs. ADVE

Last updated Jun 4, 2026

EMSF (Matthews Emerging Markets Sustainable Future Active ETF) and ADVE (Matthews Asia Dividend Active ETF) are both exchange-traded funds - EMSF is a Emerging Markets Diversified fund actively managed by Matthews, while ADVE is a Asia Pacific Equities fund actively managed by Matthews. Both are actively managed. Over the past year, EMSF returned 63.33% vs 41.86% for ADVE. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.79% expense ratio.

Performance

EMSF vs. ADVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Emerging Markets Sustainable Future Active ETF (EMSF) and Matthews Asia Dividend Active ETF (ADVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMSF achieves a 45.34% return, which is significantly higher than ADVE's 21.50% return.

EMSF

• 1D: -1.10%
• 1M: 8.61%
• YTD: 45.34%
• 6M: 40.08%
• 1Y: 63.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ADVE

• 1D: -0.63%
• 1M: 5.23%
• YTD: 21.50%
• 6M: 23.40%
• 1Y: 41.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EMSF vs. ADVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EMSF Matthews Emerging Markets Sustainable Future Active ETF	45.34%	19.20%	-3.09%	1.88%
ADVE Matthews Asia Dividend Active ETF	21.50%	26.12%	7.02%	5.13%

Correlation

The correlation between EMSF and ADVE is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Sep 25, 2023	0.83

The correlation between EMSF and ADVE has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

EMSF vs. ADVE - Sectors Allocation Comparison

Sectors	EMSF	ADVE
Technology	43.6%	29.0%
Financial Services	16.6%	27.3%
Industrials	15.0%	13.6%
Consumer Cyclical	7.7%	6.9%
Healthcare	6.8%	1.1%
Consumer Defensive	3.9%	2.9%
Utilities	2.8%	1.1%
Communication Services	2.0%	9.5%
Real Estate	1.6%	4.0%
Basic Materials	-	3.4%
Energy	-	1.2%

Return for Risk

EMSF vs. ADVE — Risk / Return Rank

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

EMSF

EMSF Risk / Return Rank: 76
EMSF Sharpe Ratio Rank: 77
EMSF Sortino Ratio Rank: 69
EMSF Omega Ratio Rank: 72
EMSF Calmar Ratio Rank: 83
EMSF Martin Ratio Rank: 76

ADVE

ADVE Risk / Return Rank: 76
ADVE Sharpe Ratio Rank: 77
ADVE Sortino Ratio Rank: 77
ADVE Omega Ratio Rank: 79
ADVE Calmar Ratio Rank: 72
ADVE Martin Ratio Rank: 75

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.

EMSF vs. ADVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Emerging Markets Sustainable Future Active ETF (EMSF) and Matthews Asia Dividend Active ETF (ADVE). 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.

	EMSF	ADVE	Difference
Sharpe ratio: Return per unit of total volatility	2.51	2.49	+0.02
Sortino ratio: Return per unit of downside risk	3.14	3.47	-0.33
Omega ratio: Gain probability vs. loss probability	1.43	1.47	-0.04
Calmar ratio: Return relative to maximum drawdown	4.37	3.59	+0.78
Martin ratio: Return relative to average drawdown	14.61	14.23	+0.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMSF vs. ADVE - Sharpe Ratio Comparison

The current EMSF Sharpe Ratio is 2.51, which is comparable to the ADVE Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of EMSF and ADVE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EMSF	ADVE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	2.49	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	1.44	-0.46

Drawdowns

EMSF vs. ADVE - Drawdown Comparison

The maximum EMSF drawdown since its inception was -24.75%, which is greater than ADVE's maximum drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for EMSF and ADVE.

Drawdown Indicators

	EMSF	ADVE	Difference
Max Drawdown Largest peak-to-trough decline	-24.75%	-18.41%	-6.34%
Max Drawdown (1Y) Largest decline over 1 year	-14.57%	-11.73%	-2.84%
Current Drawdown Current decline from peak	-1.10%	-0.63%	-0.47%
Average Drawdown Average peak-to-trough decline	-5.72%	-3.15%	-2.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.35%	2.95%	+1.40%

Volatility

EMSF vs. ADVE - Volatility Comparison

Matthews Emerging Markets Sustainable Future Active ETF (EMSF) has a higher volatility of 9.96% compared to Matthews Asia Dividend Active ETF (ADVE) at 5.98%. This indicates that EMSF's price experiences larger fluctuations and is considered to be riskier than ADVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMSF	ADVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.96%	5.98%	+3.98%
Volatility (6M) Calculated over the trailing 6-month period	21.98%	14.42%	+7.56%
Volatility (1Y) Calculated over the trailing 1-year period	25.35%	16.89%	+8.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.75%	15.68%	+7.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.75%	15.68%	+7.07%

EMSF vs. ADVE - Expense Ratio Comparison

Both EMSF and ADVE have an expense ratio of 0.79%.

Dividends

EMSF vs. ADVE - Dividend Comparison

EMSF's dividend yield for the trailing twelve months is around 1.30%, less than ADVE's 2.46% yield.

Position	TTM	2025	2024	2023
ADVE Matthews Asia Dividend Active ETF	2.46%	2.97%	6.00%	0.37%
EMSF Matthews Emerging Markets Sustainable Future Active ETF	1.30%	1.88%	3.29%	0.02%

Frequently Asked Questions

Can I hold both EMSF and ADVE in my portfolio?

EMSF and ADVE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMSF or ADVE?

EMSF has higher volatility (9.96%) compared to ADVE (5.98%). In terms of maximum drawdown, EMSF dropped -24.75% vs ADVE's -18.41%.

Which ETF is better, EMSF or ADVE?

On 1-year performance, EMSF leads with 63.33% vs 41.86% for ADVE. Both ETFs have the same 0.79% expense ratio. On volatility, ADVE has been the lower-risk option at 5.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMSF or ADVE?

Over the 1-year period, EMSF has performed better with a 63.33% return vs 41.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMSF or ADVE?

EMSF and ADVE have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, EMSF or ADVE?

ADVE has the higher dividend yield at 2.46%, compared with 1.30% for EMSF.

What is the main difference between EMSF and ADVE?

EMSF is categorized as Emerging Markets Diversified, while ADVE is Asia Pacific Equities.

Which has better risk-adjusted returns?

EMSF currently has the higher Sharpe Ratio (2.51 vs 2.49), 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.