MAPTX vs. CNJFX

Last updated Aug 1, 2026

MAPTX (Matthews Pacific Tiger Fund) and CNJFX (Commonwealth Japan Fund) are both mutual funds - MAPTX is a Asia Pacific Equities fund managed by Matthews, while CNJFX is a Japan Equities fund managed by Commonwealth Intl Series Tr. Over the past 10 years, MAPTX returned 4.96%/yr vs 4.95%/yr for CNJFX. Their 0.40 correlation means their historical movements had little consistent relationship. MAPTX charges 1.09%/yr vs 1.75%/yr for CNJFX.

Performance

MAPTX vs. CNJFX - Performance Comparison

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

Returns By Period

In the year-to-date period, MAPTX achieves a 19.29% return, which is significantly higher than CNJFX's 18.08% return. Both investments have delivered pretty close results over the past 10 years, with MAPTX having a 4.96% annualized return and CNJFX not far behind at 4.95%.

MAPTX

• 1D: 4.12%
• 1M: -5.17%
• 6M: 11.07%
• YTD: 19.29%
• 1Y: 38.26%
• 3Y*: 13.25%
• 5Y*: -0.03%
• 10Y*: 4.96%
• ALL TIME*: 7.54%

CNJFX

• 1D: 3.82%
• 1M: -3.37%
• 6M: 14.41%
• YTD: 18.08%
• 1Y: 28.01%
• 3Y*: 12.23%
• 5Y*: 4.57%
• 10Y*: 4.95%
• ALL TIME*: -0.99%

*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)
CNJFX Commonwealth Japan Fund	$0.00	$0.00	$0.00
MAPTX Matthews Pacific Tiger Fund	$0.00	$0.00	$0.00

MAPTX vs. CNJFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MAPTX Matthews Pacific Tiger Fund	19.29%	30.07%	3.25%	-4.82%	-20.69%	-17.92%	28.88%	10.75%	-11.05%	39.94%
CNJFX Commonwealth Japan Fund	18.08%	18.27%	-1.53%	14.15%	-18.49%	-7.92%	9.93%	19.15%	-10.80%	20.61%

Correlation

The correlation between MAPTX and CNJFX is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (3Y) Balances recent behavior with more history.	0.38
Correlation (5Y) Shows whether the relationship held over a longer period.	0.43
Correlation (10Y) Provides a long-term view across more market conditions.	0.41
Correlation (All Time) Calculated using the full available price history since Jun 11, 1996	0.40

Return for Risk

MAPTX vs. CNJFX — Risk / Return Rank

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

MAPTX

MAPTX Risk / Return Rank: 56
MAPTX Sharpe Ratio Rank: 57
MAPTX Sortino Ratio Rank: 47
MAPTX Omega Ratio Rank: 63
MAPTX Calmar Ratio Rank: 62
MAPTX Martin Ratio Rank: 51

CNJFX

CNJFX Risk / Return Rank: 63
CNJFX Sharpe Ratio Rank: 63
CNJFX Sortino Ratio Rank: 63
CNJFX Omega Ratio Rank: 57
CNJFX Calmar Ratio Rank: 77
CNJFX Martin Ratio Rank: 57

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.

MAPTX vs. CNJFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Pacific Tiger Fund (MAPTX) and Commonwealth Japan Fund (CNJFX). 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.

	MAPTX	CNJFX	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.52	-0.07
Sortino ratio: Return per unit of downside risk	1.90	2.21	-0.31
Omega ratio: Gain probability vs. loss probability	1.28	1.27	+0.02
Calmar ratio: Return relative to maximum drawdown	2.12	2.51	-0.39
Martin ratio: Return relative to average drawdown	6.98	7.64	-0.65

MAPTX vs. CNJFX - Sharpe Ratio Comparison

The current MAPTX Sharpe Ratio is 1.44, which is comparable to the CNJFX Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of MAPTX and CNJFX, 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

MAPTX vs. CNJFX - Drawdown Comparison

The maximum MAPTX drawdown since its inception was -69.79%, smaller than the maximum CNJFX drawdown of -73.98%. Use the drawdown chart below to compare losses from any high point for MAPTX and CNJFX.

Drawdown Indicators

	MAPTX	CNJFX	Difference
Max Drawdown Largest peak-to-trough decline	-69.79%	-73.98%	+4.19%
Max Drawdown (1Y) Largest decline over 1 year	-17.30%	-11.44%	-5.86%
Max Drawdown (3Y) Largest decline over 3 years	-22.23%	-17.82%	-4.41%
Max Drawdown (5Y) Largest decline over 5 years	-46.28%	-36.47%	-9.81%
Max Drawdown (10Y) Largest decline over 10 years	-52.31%	-36.47%	-15.84%
Current Drawdown Current decline from peak	-13.89%	-30.49%	+16.60%
Average Drawdown Average peak-to-trough decline	-17.40%	-49.80%	+32.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.18%	3.76%	+1.42%

Volatility

MAPTX vs. CNJFX - Volatility Comparison

Matthews Pacific Tiger Fund (MAPTX) has a higher volatility of 10.17% compared to Commonwealth Japan Fund (CNJFX) at 6.77%. This indicates that MAPTX's price experiences larger fluctuations and is considered to be riskier than CNJFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAPTX	CNJFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.17%	6.77%	+3.40%
Volatility (6M) Calculated over the trailing 6-month period	23.53%	14.98%	+8.55%
Volatility (1Y) Calculated over the trailing 1-year period	25.40%	18.99%	+6.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.18%	18.37%	+2.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.89%	17.39%	+1.50%

MAPTX vs. CNJFX - Expense Ratio Comparison

MAPTX has a 1.09% expense ratio, which is lower than CNJFX's 1.75% expense ratio.

Dividends

MAPTX vs. CNJFX - Dividend Comparison

MAPTX's dividend yield for the trailing twelve months is around 1.95%, more than CNJFX's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNJFX Commonwealth Japan Fund	1.02%	1.20%	0.58%	0.10%	0.00%	4.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MAPTX Matthews Pacific Tiger Fund	1.95%	2.33%	8.93%	2.93%	8.52%	4.85%	5.74%	3.44%	4.78%	1.25%	2.61%	11.18%

Frequently Asked Questions

Can I hold both MAPTX and CNJFX in my portfolio?

MAPTX and CNJFX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAPTX or CNJFX?

MAPTX has higher volatility (10.17%) compared to CNJFX (6.77%). In terms of maximum drawdown, MAPTX dropped -69.79% vs CNJFX's -73.98%.

Which has better risk-adjusted returns?

CNJFX currently has the higher Sharpe Ratio (1.52 vs 1.44), 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.