JPAN vs. ADVE

Last updated Jun 3, 2026

JPAN (Matthews Japan Active ETF) and ADVE (Matthews Asia Dividend Active ETF) are both exchange-traded funds - JPAN is a Japan Equities 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, JPAN returned 27.88% vs 42.25% for ADVE. A 0.73 correlation means they provide meaningful diversification when combined. Both charge a 0.79% expense ratio.

Performance

JPAN vs. ADVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Japan Active ETF (JPAN) 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, JPAN achieves a 17.03% return, which is significantly lower than ADVE's 22.27% return.

JPAN

• 1D: 0.60%
• 1M: 6.19%
• YTD: 17.03%
• 6M: 18.72%
• 1Y: 27.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ADVE

• 1D: 1.38%
• 1M: 5.22%
• YTD: 22.27%
• 6M: 24.39%
• 1Y: 42.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JPAN vs. ADVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JPAN Matthews Japan Active ETF	17.03%	22.96%	18.16%	5.77%
ADVE Matthews Asia Dividend Active ETF	22.27%	26.12%	7.02%	5.13%

Correlation

The correlation between JPAN and ADVE is 0.76, 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	0.76
Correlation (All Time) Calculated using the full available price history since Sep 25, 2023	0.73

The correlation between JPAN and ADVE has been stable across timeframes, ranging from 0.73 to 0.76 - a consistent structural relationship.

JPAN vs. ADVE - Sectors Allocation Comparison

Sectors	JPAN	ADVE
Industrials	25.5%	13.6%
Technology	21.7%	29.0%
Financial Services	19.2%	27.3%
Consumer Cyclical	12.4%	6.9%
Communication Services	6.8%	9.5%
Consumer Defensive	3.3%	2.9%
Basic Materials	3.2%	3.4%
Healthcare	2.6%	1.1%
Real Estate	2.2%	4.0%
Energy	0.7%	1.2%
Utilities	-	1.1%

Return for Risk

JPAN vs. ADVE — Risk / Return Rank

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

JPAN

JPAN Risk / Return Rank: 41
JPAN Sharpe Ratio Rank: 40
JPAN Sortino Ratio Rank: 41
JPAN Omega Ratio Rank: 40
JPAN Calmar Ratio Rank: 41
JPAN Martin Ratio Rank: 44

ADVE

ADVE Risk / Return Rank: 76
ADVE Sharpe Ratio Rank: 76
ADVE Sortino Ratio Rank: 77
ADVE Omega Ratio Rank: 78
ADVE Calmar Ratio Rank: 73
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.

JPAN vs. ADVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Japan Active ETF (JPAN) 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.

	JPAN	ADVE	Difference
Sharpe ratio Return per unit of total volatility	1.43	2.52	-1.09
Sortino ratio Return per unit of downside risk	2.13	3.50	-1.37
Omega ratio Gain probability vs. loss probability	1.27	1.47	-0.21
Calmar ratio Return relative to maximum drawdown	2.06	3.71	-1.65
Martin ratio Return relative to average drawdown	7.32	14.74	-7.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPAN vs. ADVE - Sharpe Ratio Comparison

The current JPAN Sharpe Ratio is 1.43, which is lower than the ADVE Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of JPAN 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

	JPAN	ADVE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.43	2.52	-1.09
Sharpe Ratio (All Time) Calculated using the full available price history	1.27	1.46	-0.19

Drawdowns

JPAN vs. ADVE - Drawdown Comparison

The maximum JPAN drawdown since its inception was -15.24%, smaller than the maximum ADVE drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for JPAN and ADVE.

Drawdown Indicators

	JPAN	ADVE	Difference
Max Drawdown Largest peak-to-trough decline	-15.24%	-18.41%	+3.17%
Max Drawdown (1Y) Largest decline over 1 year	-14.59%	-11.73%	-2.86%
Current Drawdown Current decline from peak	-0.31%	0.00%	-0.31%
Average Drawdown Average peak-to-trough decline	-3.09%	-3.15%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.11%	2.95%	+1.16%

Volatility

JPAN vs. ADVE - Volatility Comparison

The current volatility for Matthews Japan Active ETF (JPAN) is 4.63%, while Matthews Asia Dividend Active ETF (ADVE) has a volatility of 5.98%. This indicates that JPAN 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

	JPAN	ADVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.63%	5.98%	-1.35%
Volatility (6M) Calculated over the trailing 6-month period	15.69%	14.40%	+1.29%
Volatility (1Y) Calculated over the trailing 1-year period	19.69%	16.88%	+2.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.27%	15.69%	+3.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.27%	15.69%	+3.58%

JPAN vs. ADVE - Expense Ratio Comparison

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

Dividends

JPAN vs. ADVE - Dividend Comparison

JPAN's dividend yield for the trailing twelve months is around 4.36%, more than ADVE's 2.44% yield.

Position	TTM	2025	2024	2023
ADVE Matthews Asia Dividend Active ETF	2.44%	2.97%	6.00%	0.37%
JPAN Matthews Japan Active ETF	4.36%	5.10%	1.53%	0.51%

Frequently Asked Questions

Can I hold both JPAN and ADVE in my portfolio?

JPAN and ADVE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPAN or ADVE?

ADVE has higher volatility (5.98%) compared to JPAN (4.63%). In terms of maximum drawdown, JPAN dropped -15.24% vs ADVE's -18.41%.

Which ETF is better, JPAN or ADVE?

On 1-year performance, ADVE leads with 42.25% vs 27.88% for JPAN. Both ETFs have the same 0.79% expense ratio. On volatility, JPAN has been the lower-risk option at 4.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPAN or ADVE?

Over the 1-year period, ADVE has performed better with a 42.25% return vs 27.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPAN or ADVE?

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

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

JPAN has the higher dividend yield at 4.36%, compared with 2.44% for ADVE.

What is the main difference between JPAN and ADVE?

JPAN is categorized as Japan Equities, while ADVE is Asia Pacific Equities.

Which has better risk-adjusted returns?

ADVE currently has the higher Sharpe Ratio (2.52 vs 1.43), 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.