JPAN vs. ASIA

Last updated Aug 2, 2026

JPAN (Matthews Japan Active ETF) and ASIA (Matthews Pacific Tiger Active ETF) are both exchange-traded funds - JPAN is a Japan Equities fund actively managed by Matthews, while ASIA is a Asia Pacific Equities fund actively managed by Matthews. Both are actively managed. Over the past year, JPAN returned 29.48% vs 37.93% for ASIA. Their 0.54 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.79% expense ratio.

Performance

JPAN vs. ASIA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Japan Active ETF (JPAN) and Matthews Pacific Tiger Active ETF (ASIA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPAN achieves a 15.79% return, which is significantly lower than ASIA's 18.48% return.

JPAN

• 1D: -0.33%
• 1M: -1.46%
• 6M: 10.42%
• YTD: 15.79%
• 1Y: 29.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.12%

ASIA

• 1D: 1.18%
• 1M: -4.71%
• 6M: 10.82%
• YTD: 18.48%
• 1Y: 37.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.36%

*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)
ASIA Matthews Pacific Tiger Active ETF	$103.81K	$180.34K	$200.88K
JPAN Matthews Japan Active ETF	$44.47K	$43.11K	$61.89K

JPAN vs. ASIA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JPAN Matthews Japan Active ETF	15.79%	22.96%	18.16%	5.17%
ASIA Matthews Pacific Tiger Active ETF	18.48%	32.06%	3.41%	0.01%

Correlation

The correlation between JPAN and ASIA is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023	0.54

The correlation between JPAN and ASIA shifts across timeframes, from 0.54 (all time) to 0.65 (1 year), reflecting how their relationship changes across market environments.

JPAN vs. ASIA - Sectors Allocation Comparison

Sectors	JPAN	ASIA
Technology	27.7%	62.1%
Industrials	21.3%	7.1%
Financial Services	18.2%	15.4%
Consumer Cyclical	13.8%	3.4%
Communication Services	6.0%	4.6%
Basic Materials	4.8%	1.0%
Consumer Defensive	3.3%	1.1%
Real Estate	2.3%	1.6%
Healthcare	1.9%	2.3%
Energy	0.6%	2.4%
Utilities	-	-

Return for Risk

JPAN vs. ASIA — Risk / Return Rank

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

JPAN

JPAN Risk / Return Rank: 60
JPAN Sharpe Ratio Rank: 60
JPAN Sortino Ratio Rank: 61
JPAN Omega Ratio Rank: 62
JPAN Calmar Ratio Rank: 58
JPAN Martin Ratio Rank: 58

ASIA

ASIA Risk / Return Rank: 54
ASIA Sharpe Ratio Rank: 55
ASIA Sortino Ratio Rank: 49
ASIA Omega Ratio Rank: 58
ASIA Calmar Ratio Rank: 55
ASIA Martin Ratio Rank: 54

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.

JPAN vs. ASIA - Risk-Adjusted Trends Comparison

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

	JPAN	ASIA	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.32	+0.10
Sortino ratio: Return per unit of downside risk	2.06	1.77	+0.29
Omega ratio: Gain probability vs. loss probability	1.27	1.25	+0.01
Calmar ratio: Return relative to maximum drawdown	2.06	1.96	+0.10
Martin ratio: Return relative to average drawdown	7.00	6.31	+0.69

JPAN vs. ASIA - Sharpe Ratio Comparison

The current JPAN Sharpe Ratio is 1.43, which is comparable to the ASIA Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of JPAN and ASIA, 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

JPAN vs. ASIA - Drawdown Comparison

The maximum JPAN drawdown since its inception was -15.24%, smaller than the maximum ASIA drawdown of -23.95%. Use the drawdown chart below to compare losses from any high point for JPAN and ASIA.

Drawdown Indicators

	JPAN	ASIA	Difference
Max Drawdown Largest peak-to-trough decline	-15.24%	-23.95%	+8.71%
Max Drawdown (1Y) Largest decline over 1 year	-14.59%	-18.52%	+3.93%
Current Drawdown Current decline from peak	-5.14%	-14.53%	+9.39%
Average Drawdown Average peak-to-trough decline	-3.15%	-5.10%	+1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.28%	5.74%	-1.46%

Volatility

JPAN vs. ASIA - Volatility Comparison

The current volatility for Matthews Japan Active ETF (JPAN) is 7.64%, while Matthews Pacific Tiger Active ETF (ASIA) has a volatility of 10.24%. This indicates that JPAN experiences smaller price fluctuations and is considered to be less risky than ASIA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPAN	ASIA	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.64%	10.24%	-2.60%
Volatility (6M) Calculated over the trailing 6-month period	17.89%	25.12%	-7.23%
Volatility (1Y) Calculated over the trailing 1-year period	21.09%	27.45%	-6.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.69%	22.25%	-2.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.69%	22.25%	-2.56%

JPAN vs. ASIA - Expense Ratio Comparison

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

Dividends

JPAN vs. ASIA - Dividend Comparison

JPAN's dividend yield for the trailing twelve months is around 4.41%, more than ASIA's 0.88% yield.

Position	TTM	2025	2024	2023
ASIA Matthews Pacific Tiger Active ETF	0.88%	1.05%	0.58%	0.12%
JPAN Matthews Japan Active ETF	4.41%	5.10%	1.53%	0.51%

Frequently Asked Questions

Can I hold both JPAN and ASIA in my portfolio?

JPAN and ASIA have a correlation of 0.65, 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 ASIA?

ASIA has higher volatility (10.24%) compared to JPAN (7.64%). In terms of maximum drawdown, JPAN dropped -15.24% vs ASIA's -23.95%.

Which ETF is better, JPAN or ASIA?

On 1-year performance, ASIA leads with 37.93% vs 29.48% for JPAN. Both ETFs have the same 0.79% expense ratio. On volatility, JPAN has been the lower-risk option at 7.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPAN or ASIA?

Over the 1-year period, ASIA has performed better with a 37.93% return vs 29.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPAN or ASIA?

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

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

JPAN has the higher dividend yield at 4.41%, compared with 0.88% for ASIA.

What is the main difference between JPAN and ASIA?

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

Which has better risk-adjusted returns?

JPAN currently has the higher Sharpe Ratio (1.43 vs 1.32), 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.