EWM vs. ADVE

Last updated Jun 24, 2026

EWM (iShares MSCI Malaysia ETF) and ADVE (Matthews Asia Dividend Active ETF) are both Asia Pacific Equities funds. EWM is passively managed, while ADVE is actively managed. Over the past year, EWM returned 18.03% vs 33.31% for ADVE. A 0.52 correlation means they provide meaningful diversification when combined. EWM charges 0.49%/yr vs 0.79%/yr for ADVE.

Performance

EWM vs. ADVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Malaysia ETF (EWM) 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, EWM achieves a -0.09% return, which is significantly lower than ADVE's 15.66% return.

EWM

• 1D: -1.03%
• 1M: -6.51%
• YTD: -0.09%
• 6M: -0.71%
• 1Y: 18.03%
• 3Y*: 14.25%
• 5Y*: 4.53%
• 10Y*: 2.46%

ADVE

• 1D: -3.82%
• 1M: -1.39%
• YTD: 15.66%
• 6M: 15.85%
• 1Y: 33.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EWM vs. ADVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EWM iShares MSCI Malaysia ETF	-0.09%	15.74%	19.46%	3.46%
ADVE Matthews Asia Dividend Active ETF	15.66%	26.12%	7.02%	4.58%

Correlation

The correlation between EWM and ADVE is 0.60, 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	0.60
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023	0.52

The correlation between EWM and ADVE has been stable across timeframes, ranging from 0.52 to 0.60 - a consistent structural relationship.

EWM vs. ADVE - Sectors Allocation Comparison

Sectors	EWM	ADVE
Financial Services	50.5%	27.7%
Industrials	12.2%	12.2%
Utilities	10.9%	0.9%
Basic Materials	9.9%	4.1%
Communication Services	5.5%	12.0%
Consumer Defensive	4.7%	2.7%
Healthcare	3.4%	0.9%
Energy	2.9%	1.0%
Consumer Cyclical	1.1%	5.8%
Real Estate	-	3.4%
Technology	-	29.3%

Return for Risk

EWM vs. ADVE — Risk / Return Rank

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

EWM

EWM Risk / Return Rank: 37
EWM Sharpe Ratio Rank: 38
EWM Sortino Ratio Rank: 36
EWM Omega Ratio Rank: 36
EWM Calmar Ratio Rank: 38
EWM Martin Ratio Rank: 39

ADVE

ADVE Risk / Return Rank: 60
ADVE Sharpe Ratio Rank: 58
ADVE Sortino Ratio Rank: 56
ADVE Omega Ratio Rank: 61
ADVE Calmar Ratio Rank: 62
ADVE Martin Ratio Rank: 64

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.

EWM vs. ADVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Malaysia ETF (EWM) 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.

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.

	EWM	ADVE	Difference
Sharpe ratio: Return per unit of total volatility	1.28	1.79	-0.51
Sortino ratio: Return per unit of downside risk	1.83	2.46	-0.63
Omega ratio: Gain probability vs. loss probability	1.23	1.34	-0.12
Calmar ratio: Return relative to maximum drawdown	1.79	2.85	-1.07
Martin ratio: Return relative to average drawdown	5.80	10.88	-5.09

EWM vs. ADVE - Sharpe Ratio Comparison

The current EWM Sharpe Ratio is 1.28, which is comparable to the ADVE Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of EWM 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.

Drawdowns

EWM vs. ADVE - Drawdown Comparison

The maximum EWM drawdown since its inception was -89.19%, which is greater than ADVE's maximum drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for EWM and ADVE.

Drawdown Indicators

	EWM	ADVE	Difference
Max Drawdown Largest peak-to-trough decline	-89.19%	-18.41%	-70.78%
Max Drawdown (1Y) Largest decline over 1 year	-10.14%	-11.73%	+1.59%
Max Drawdown (3Y) Largest decline over 3 years	-21.31%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.76%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.81%	—	—
Current Drawdown Current decline from peak	-11.71%	-5.41%	-6.30%
Average Drawdown Average peak-to-trough decline	-31.78%	-3.17%	-28.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.12%	3.07%	+0.05%

Volatility

EWM vs. ADVE - Volatility Comparison

The current volatility for iShares MSCI Malaysia ETF (EWM) is 4.15%, while Matthews Asia Dividend Active ETF (ADVE) has a volatility of 9.05%. This indicates that EWM experiences smaller price fluctuations and is considered to be less risky than ADVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWM	ADVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	9.05%	-4.90%
Volatility (6M) Calculated over the trailing 6-month period	11.08%	16.55%	-5.47%
Volatility (1Y) Calculated over the trailing 1-year period	14.13%	18.68%	-4.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.76%	16.30%	-2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.19%	16.30%	-0.11%

EWM vs. ADVE - Expense Ratio Comparison

EWM has a 0.49% expense ratio, which is lower than ADVE's 0.79% expense ratio.

Dividends

EWM vs. ADVE - Dividend Comparison

EWM's dividend yield for the trailing twelve months is around 3.72%, more than ADVE's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADVE Matthews Asia Dividend Active ETF	2.58%	2.97%	6.00%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EWM iShares MSCI Malaysia ETF	3.72%	3.41%	3.32%	3.47%	3.00%	6.48%	1.89%	2.91%	3.84%	5.58%	5.97%	37.54%

Frequently Asked Questions

Can I hold both EWM and ADVE in my portfolio?

EWM and ADVE have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWM or ADVE?

ADVE has higher volatility (9.05%) compared to EWM (4.15%). In terms of maximum drawdown, EWM dropped -89.19% vs ADVE's -18.41%.

Which ETF is better, EWM or ADVE?

On 1-year performance, ADVE leads with 33.31% vs 18.03% for EWM. On fees, EWM is cheaper at 0.49% per year. On volatility, EWM has been the lower-risk option at 4.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWM or ADVE?

Over the 1-year period, ADVE has performed better with a 33.31% return vs 18.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWM or ADVE?

EWM is cheaper with a 0.49% expense ratio, compared with 0.79% for ADVE.

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

EWM has the higher dividend yield at 3.72%, compared with 2.58% for ADVE.

What is the main difference between EWM and ADVE?

They also come from different issuers: iShares and Matthews. Their fees differ too: 0.49% for EWM and 0.79% for ADVE.

Which has better risk-adjusted returns?

ADVE currently has the higher Sharpe Ratio (1.79 vs 1.28), 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.