JEMA vs. MEMX

Last updated Aug 2, 2026

JEMA (JPMorgan ActiveBuilders Emerging Markets Equity ETF) and MEMX (Matthews Emerging Markets Ex China Active ETF) are both Emerging Markets Equities funds. Both are actively managed. Over the past 3 years, JEMA returned 19.25%/yr vs 20.99%/yr for MEMX. Their correlation of 0.86 means they have usually moved in the same direction. JEMA charges 0.39%/yr vs 0.79%/yr for MEMX.

Performance

JEMA vs. MEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) and Matthews Emerging Markets Ex China Active ETF (MEMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with JEMA having a 20.95% return and MEMX slightly lower at 20.25%.

JEMA

• 1D: 0.56%
• 1M: -3.42%
• 6M: 11.38%
• YTD: 20.95%
• 1Y: 41.92%
• 3Y*: 19.25%
• 5Y*: 6.81%
• 10Y*: —
• ALL TIME*: 5.78%

MEMX

• 1D: 0.27%
• 1M: -5.81%
• 6M: 10.01%
• YTD: 20.25%
• 1Y: 45.59%
• 3Y*: 20.99%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.15%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF	$13.60M	$9.15M	$8.02M
MEMX Matthews Emerging Markets Ex China Active ETF	$126.06K	$154.77K	$150.51K

JEMA vs. MEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF	20.95%	34.89%	5.68%	2.19%
MEMX Matthews Emerging Markets Ex China Active ETF	20.25%	35.88%	5.50%	11.33%

Correlation

The correlation between JEMA and MEMX is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (All Time) Calculated using the full available price history since Jan 11, 2023	0.86

The correlation between JEMA and MEMX has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.

JEMA vs. MEMX - Sectors Allocation Comparison

Sectors	JEMA	MEMX
Technology	48.4%	52.1%
Financial Services	19.1%	21.4%
Consumer Cyclical	7.7%	7.2%
Industrials	7.5%	7.1%
Communication Services	6.3%	1.7%
Basic Materials	3.0%	2.9%
Energy	2.8%	2.0%
Consumer Defensive	1.8%	1.3%
Healthcare	1.5%	2.6%
Utilities	1.3%	0.9%
Real Estate	0.5%	0.9%

Return for Risk

JEMA vs. MEMX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JEMA

JEMA Risk / Return Rank: 74
JEMA Sharpe Ratio Rank: 74
JEMA Sortino Ratio Rank: 67
JEMA Omega Ratio Rank: 74
JEMA Calmar Ratio Rank: 79
JEMA Martin Ratio Rank: 75

MEMX

MEMX Risk / Return Rank: 74
MEMX Sharpe Ratio Rank: 75
MEMX Sortino Ratio Rank: 69
MEMX Omega Ratio Rank: 76
MEMX Calmar Ratio Rank: 77
MEMX Martin Ratio Rank: 73

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JEMA vs. MEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) 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.

	JEMA	MEMX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.70	-0.04
Sortino ratio: Return per unit of downside risk	2.19	2.26	-0.07
Omega ratio: Gain probability vs. loss probability	1.31	1.31	0.00
Calmar ratio: Return relative to maximum drawdown	2.81	2.68	+0.13
Martin ratio: Return relative to average drawdown	9.36	9.02	+0.34

JEMA vs. MEMX - Sharpe Ratio Comparison

The current JEMA Sharpe Ratio is 1.67, which is comparable to the MEMX Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of JEMA and MEMX, 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

JEMA vs. MEMX - Drawdown Comparison

The maximum JEMA drawdown since its inception was -39.50%, which is greater than MEMX's maximum drawdown of -19.27%. Use the drawdown chart below to compare losses from any high point for JEMA and MEMX.

Drawdown Indicators

	JEMA	MEMX	Difference
Max Drawdown Largest peak-to-trough decline	-39.50%	-19.27%	-20.23%
Max Drawdown (1Y) Largest decline over 1 year	-14.65%	-16.84%	+2.19%
Max Drawdown (3Y) Largest decline over 3 years	-18.11%	-19.27%	+1.16%
Max Drawdown (5Y) Largest decline over 5 years	-37.46%	—	—
Current Drawdown Current decline from peak	-10.55%	-12.57%	+2.02%
Average Drawdown Average peak-to-trough decline	-16.72%	-3.66%	-13.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.39%	4.99%	-0.60%

Volatility

JEMA vs. MEMX - Volatility Comparison

JPMorgan ActiveBuilders Emerging Markets Equity ETF (JEMA) and Matthews Emerging Markets Ex China Active ETF (MEMX) have volatilities of 9.42% and 9.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEMA	MEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.42%	9.83%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	22.58%	24.48%	-1.90%
Volatility (1Y) Calculated over the trailing 1-year period	24.72%	26.49%	-1.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.97%	18.76%	+1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.70%	18.76%	+0.94%

JEMA vs. MEMX - Expense Ratio Comparison

JEMA has a 0.39% expense ratio, which is lower than MEMX's 0.79% expense ratio.

Dividends

JEMA vs. MEMX - Dividend Comparison

JEMA's dividend yield for the trailing twelve months is around 2.42%, less than MEMX's 4.06% yield.

Position	TTM	2025	2024	2023	2022	2021
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF	2.42%	2.93%	2.44%	2.95%	2.69%	1.54%
MEMX Matthews Emerging Markets Ex China Active ETF	4.06%	4.88%	0.99%	1.13%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JEMA and MEMX in my portfolio?

With a correlation of 0.93, JEMA and MEMX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JEMA or MEMX?

MEMX has higher volatility (9.83%) compared to JEMA (9.42%). In terms of maximum drawdown, JEMA dropped -39.50% vs MEMX's -19.27%.

Which ETF is better, JEMA or MEMX?

On 3-year performance, MEMX leads with 20.99% vs 19.25% for JEMA. On fees, JEMA is cheaper at 0.39% per year. On volatility, JEMA has been the lower-risk option at 9.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEMA or MEMX?

Over the 3-year period, MEMX has performed better with a 20.99% return vs 19.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEMA or MEMX?

JEMA is cheaper with a 0.39% expense ratio, compared with 0.79% for MEMX.

Which ETF pays a higher dividend yield, JEMA or MEMX?

MEMX has the higher dividend yield at 4.06%, compared with 2.42% for JEMA.

What is the main difference between JEMA and MEMX?

They also come from different issuers: JPMorgan and Matthews. Their fees differ too: 0.39% for JEMA and 0.79% for MEMX.

Which has better risk-adjusted returns?

MEMX currently has the higher Sharpe Ratio (1.70 vs 1.67), 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.