MAPTX vs. MEGMX

Last updated Jun 3, 2026

MAPTX (Matthews Pacific Tiger Fund) and MEGMX (Matthews Emerging Markets Equity Fund) are both mutual funds - MAPTX is a Asia Pacific Equities fund managed by Matthews, while MEGMX is a Emerging Markets Diversified fund managed by Matthews. Over the past 5 years, MAPTX returned 1.24%/yr vs 8.67%/yr for MEGMX. Their correlation of 0.91 suggests significant overlap in exposure. MAPTX charges 1.09%/yr vs 1.08%/yr for MEGMX.

Performance

MAPTX vs. MEGMX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with MAPTX having a 34.83% return and MEGMX slightly higher at 35.94%.

MAPTX

• 1D: 2.06%
• 1M: 13.67%
• YTD: 34.83%
• 6M: 38.36%
• 1Y: 66.61%
• 3Y*: 20.35%
• 5Y*: 1.24%
• 10Y*: 6.89%

MEGMX

• 1D: 2.15%
• 1M: 13.21%
• YTD: 35.94%
• 6M: 38.19%
• 1Y: 62.89%
• 3Y*: 26.62%
• 5Y*: 8.67%
• 10Y*: —

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

MAPTX vs. MEGMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MAPTX Matthews Pacific Tiger Fund	34.83%	30.07%	3.25%	-4.82%	-20.69%	-17.92%	50.56%
MEGMX Matthews Emerging Markets Equity Fund	35.94%	29.37%	11.11%	8.46%	-20.94%	-1.90%	61.26%

Correlation

The correlation between MAPTX and MEGMX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since May 1, 2020	0.91

The correlation between MAPTX and MEGMX has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

Return for Risk

MAPTX vs. MEGMX — Risk / Return Rank

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

MAPTX

MAPTX Risk / Return Rank: 92
MAPTX Sharpe Ratio Rank: 97
MAPTX Sortino Ratio Rank: 92
MAPTX Omega Ratio Rank: 93
MAPTX Calmar Ratio Rank: 90
MAPTX Martin Ratio Rank: 90

MEGMX

MEGMX Risk / Return Rank: 89
MEGMX Sharpe Ratio Rank: 96
MEGMX Sortino Ratio Rank: 90
MEGMX Omega Ratio Rank: 90
MEGMX Calmar Ratio Rank: 86
MEGMX Martin Ratio Rank: 85

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.

MAPTX vs. MEGMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Pacific Tiger Fund (MAPTX) and Matthews Emerging Markets Equity Fund (MEGMX). 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.

	MAPTX	MEGMX	Difference
Sharpe ratio Return per unit of total volatility	3.71	3.45	+0.26
Sortino ratio Return per unit of downside risk	4.57	4.40	+0.17
Omega ratio Gain probability vs. loss probability	1.70	1.64	+0.07
Calmar ratio Return relative to maximum drawdown	4.65	4.09	+0.56
Martin ratio Return relative to average drawdown	18.03	16.25	+1.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAPTX vs. MEGMX - Sharpe Ratio Comparison

The current MAPTX Sharpe Ratio is 3.71, which is comparable to the MEGMX Sharpe Ratio of 3.45. The chart below compares the historical Sharpe Ratios of MAPTX and MEGMX, 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

	MAPTX	MEGMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.71	3.45	+0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.06	0.50	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.99	-0.60

Drawdowns

MAPTX vs. MEGMX - Drawdown Comparison

The maximum MAPTX drawdown since its inception was -69.79%, which is greater than MEGMX's maximum drawdown of -37.64%. Use the drawdown chart below to compare losses from any high point for MAPTX and MEGMX.

Drawdown Indicators

	MAPTX	MEGMX	Difference
Max Drawdown Largest peak-to-trough decline	-69.79%	-37.64%	-32.15%
Max Drawdown (1Y) Largest decline over 1 year	-14.03%	-15.34%	+1.31%
Max Drawdown (3Y) Largest decline over 3 years	-22.23%	-18.39%	-3.84%
Max Drawdown (5Y) Largest decline over 5 years	-48.55%	-37.03%	-11.52%
Max Drawdown (10Y) Largest decline over 10 years	-52.31%	—	—
Current Drawdown Current decline from peak	-2.06%	0.00%	-2.06%
Average Drawdown Average peak-to-trough decline	-17.45%	-14.58%	-2.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.62%	3.86%	-0.24%

Volatility

MAPTX vs. MEGMX - Volatility Comparison

The current volatility for Matthews Pacific Tiger Fund (MAPTX) is 8.97%, while Matthews Emerging Markets Equity Fund (MEGMX) has a volatility of 9.45%. This indicates that MAPTX experiences smaller price fluctuations and is considered to be less risky than MEGMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAPTX	MEGMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.97%	9.45%	-0.48%
Volatility (6M) Calculated over the trailing 6-month period	16.82%	17.23%	-0.41%
Volatility (1Y) Calculated over the trailing 1-year period	19.30%	19.48%	-0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.96%	17.56%	+2.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.20%	17.73%	+0.47%

MAPTX vs. MEGMX - Expense Ratio Comparison

MAPTX has a 1.09% expense ratio, which is higher than MEGMX's 1.08% expense ratio.

Dividends

MAPTX vs. MEGMX - Dividend Comparison

MAPTX's dividend yield for the trailing twelve months is around 1.73%, less than MEGMX's 2.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MAPTX Matthews Pacific Tiger Fund	1.73%	2.33%	8.93%	2.93%	8.52%	4.85%	5.74%	3.44%	4.78%	1.25%	2.61%	11.18%
MEGMX Matthews Emerging Markets Equity Fund	2.19%	2.97%	0.92%	1.82%	1.81%	7.76%	2.26%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MAPTX and MEGMX in my portfolio?

With a correlation of 0.96, MAPTX and MEGMX 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, MAPTX or MEGMX?

MEGMX has higher volatility (9.45%) compared to MAPTX (8.97%). In terms of maximum drawdown, MAPTX dropped -69.79% vs MEGMX's -37.64%.

Which has better risk-adjusted returns?

MAPTX currently has the higher Sharpe Ratio (3.71 vs 3.45), 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.