IYZ vs. MEMX
IYZ (iShares U.S. Telecommunications ETF) and MEMX (Matthews Emerging Markets Ex China Active ETF) are both exchange-traded funds - IYZ is a Communications Equities fund tracking the Dow Jones U.S. Select Telecommunications Index, while MEMX is a Emerging Markets Diversified fund actively managed by Matthews. IYZ is passively managed, while MEMX is actively managed. Over the past 3 years, IYZ returned 28.37%/yr vs 24.90%/yr for MEMX. A 0.50 correlation means they provide meaningful diversification when combined. IYZ charges 0.42%/yr vs 0.79%/yr for MEMX.
Performance
IYZ vs. MEMX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IYZ having a 29.57% return and MEMX slightly higher at 29.81%.
IYZ
- 1D
- 1.27%
- 1M
- 2.31%
- YTD
- 29.57%
- 6M
- 32.60%
- 1Y
- 58.27%
- 3Y*
- 28.37%
- 5Y*
- 7.57%
- 10Y*
- 5.94%
MEMX
- 1D
- 0.55%
- 1M
- 5.01%
- YTD
- 29.81%
- 6M
- 38.48%
- 1Y
- 63.43%
- 3Y*
- 24.90%
- 5Y*
- —
- 10Y*
- —
IYZ vs. MEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IYZ iShares U.S. Telecommunications ETF | 29.57% | 29.28% | 20.53% | -2.24% |
MEMX Matthews Emerging Markets Ex China Active ETF | 29.81% | 35.88% | 5.50% | 11.33% |
Correlation
The correlation between IYZ and MEMX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2023 | 0.50 |
The correlation between IYZ and MEMX has been stable across timeframes, ranging from 0.48 to 0.50 - a consistent structural relationship.
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Return for Risk
IYZ vs. MEMX — Risk / Return Rank
IYZ
MEMX
IYZ vs. MEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Telecommunications ETF (IYZ) and Matthews Emerging Markets Ex China Active ETF (MEMX). 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.
| IYZ | MEMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.47 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 6.54 | 4.16 | +2.37 |
| Martin ratioReturn relative to average drawdown | 25.99 | 15.97 | +10.02 |
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Drawdowns
IYZ vs. MEMX - Drawdown Comparison
The maximum IYZ drawdown since its inception was -77.11%, which is greater than MEMX's maximum drawdown of -19.27%. Use the drawdown chart below to compare losses from any high point for IYZ and MEMX.
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Drawdown Indicators
| IYZ | MEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.11% | -19.27% | -57.84% |
Max Drawdown (1Y)Largest decline over 1 year | -8.62% | -14.70% | +6.08% |
Max Drawdown (3Y)Largest decline over 3 years | -13.85% | -19.27% | +5.42% |
Max Drawdown (5Y)Largest decline over 5 years | -39.74% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.74% | — | — |
Current DrawdownCurrent decline from peak | -4.77% | -3.40% | -1.37% |
Average DrawdownAverage peak-to-trough decline | -40.10% | -3.50% | -36.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 3.83% | -1.66% |
Volatility
IYZ vs. MEMX - Volatility Comparison
The current volatility for iShares U.S. Telecommunications ETF (IYZ) is 8.76%, while Matthews Emerging Markets Ex China Active ETF (MEMX) has a volatility of 11.94%. This indicates that IYZ experiences smaller price fluctuations and is considered to be less risky than MEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYZ | MEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.76% | 11.94% | -3.18% |
Volatility (6M)Calculated over the trailing 6-month period | 15.61% | 21.24% | -5.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.65% | 23.42% | -4.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.88% | 17.73% | +1.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.30% | 17.73% | +1.57% |
IYZ vs. MEMX - Expense Ratio Comparison
IYZ has a 0.42% expense ratio, which is lower than MEMX's 0.79% expense ratio.
Dividends
IYZ vs. MEMX - Dividend Comparison
IYZ's dividend yield for the trailing twelve months is around 1.53%, less than MEMX's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYZ iShares U.S. Telecommunications ETF | 1.53% | 2.04% | 1.94% | 2.27% | 2.55% | 2.51% | 2.60% | 2.36% | 2.15% | 3.54% | 2.27% | 1.98% |
MEMX Matthews Emerging Markets Ex China Active ETF | 3.76% | 4.88% | 0.99% | 1.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IYZ and MEMX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MEMX has higher volatility (11.94%) compared to IYZ (8.76%). In terms of maximum drawdown, IYZ dropped -77.11% vs MEMX's -19.27%.
On 3-year performance, IYZ leads with 28.37% vs 24.90% for MEMX. On fees, IYZ is cheaper at 0.42% per year. On volatility, IYZ has been the lower-risk option at 8.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IYZ has performed better with a 28.37% return vs 24.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYZ is cheaper with a 0.42% expense ratio, compared with 0.79% for MEMX.
MEMX has the higher dividend yield at 3.76%, compared with 1.53% for IYZ.
IYZ is categorized as Communications Equities, while MEMX is Emerging Markets Diversified. They also come from different issuers: iShares and Matthews. Their fees differ too: 0.42% for IYZ and 0.79% for MEMX.
IYZ currently has the higher Sharpe Ratio (3.02 vs 2.61), 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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