MASGX vs. FEATX

Last updated Aug 1, 2026

MASGX (Matthews Asia ESG Fund) and FEATX (Fidelity Advisor Emerging Asia Fund Class M) are both Asia Pacific Equities funds. Over the past 10 years, MASGX returned 10.77%/yr vs 13.45%/yr for FEATX. Their correlation of 0.84 means they have usually moved in the same direction. MASGX charges 1.24%/yr vs 1.45%/yr for FEATX.

Performance

MASGX vs. FEATX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Asia ESG Fund (MASGX) and Fidelity Advisor Emerging Asia Fund Class M (FEATX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MASGX achieves a 28.81% return, which is significantly higher than FEATX's 23.29% return. Over the past 10 years, MASGX has underperformed FEATX with an annualized return of 10.77%, while FEATX has yielded a comparatively higher 13.45% annualized return.

MASGX

• 1D: 4.14%
• 1M: -9.40%
• 6M: 15.47%
• YTD: 28.81%
• 1Y: 46.89%
• 3Y*: 12.31%
• 5Y*: 5.68%
• 10Y*: 10.77%
• ALL TIME*: 10.80%

FEATX

• 1D: 3.44%
• 1M: -6.71%
• 6M: 13.07%
• YTD: 23.29%
• 1Y: 41.98%
• 3Y*: 26.66%
• 5Y*: 7.28%
• 10Y*: 13.45%
• ALL TIME*: 9.52%

*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)
FEATX Fidelity Advisor Emerging Asia Fund Class M	$0.00	$0.00	$0.00
MASGX Matthews Asia ESG Fund	$0.00	$0.00	$0.00

MASGX vs. FEATX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MASGX Matthews Asia ESG Fund	28.81%	22.83%	-2.51%	7.99%	-14.37%	5.33%	42.90%	12.56%	-9.70%	33.75%
FEATX Fidelity Advisor Emerging Asia Fund Class M	23.29%	36.34%	20.32%	13.22%	-30.99%	-15.29%	72.05%	30.26%	-15.36%	45.82%

Correlation

The correlation between MASGX and FEATX is 0.87, 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.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (10Y) Provides a long-term view across more market conditions.	0.84
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.84

The correlation between MASGX and FEATX has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

Return for Risk

MASGX vs. FEATX — Risk / Return Rank

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

MASGX

MASGX Risk / Return Rank: 66
MASGX Sharpe Ratio Rank: 68
MASGX Sortino Ratio Rank: 59
MASGX Omega Ratio Rank: 68
MASGX Calmar Ratio Rank: 68
MASGX Martin Ratio Rank: 65

FEATX

FEATX Risk / Return Rank: 64
FEATX Sharpe Ratio Rank: 63
FEATX Sortino Ratio Rank: 52
FEATX Omega Ratio Rank: 63
FEATX Calmar Ratio Rank: 76
FEATX Martin Ratio Rank: 64

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.

MASGX vs. FEATX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Asia ESG Fund (MASGX) and Fidelity Advisor Emerging Asia Fund Class M (FEATX). 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.

	MASGX	FEATX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.54	+0.09
Sortino ratio: Return per unit of downside risk	2.13	2.01	+0.12
Omega ratio: Gain probability vs. loss probability	1.30	1.29	+0.01
Calmar ratio: Return relative to maximum drawdown	2.26	2.50	-0.24
Martin ratio: Return relative to average drawdown	8.27	8.12	+0.15

MASGX vs. FEATX - Sharpe Ratio Comparison

The current MASGX Sharpe Ratio is 1.63, which is comparable to the FEATX Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of MASGX and FEATX, 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

MASGX vs. FEATX - Drawdown Comparison

The maximum MASGX drawdown since its inception was -36.34%, smaller than the maximum FEATX drawdown of -60.97%. Use the drawdown chart below to compare losses from any high point for MASGX and FEATX.

Drawdown Indicators

	MASGX	FEATX	Difference
Max Drawdown Largest peak-to-trough decline	-36.34%	-60.97%	+24.63%
Max Drawdown (1Y) Largest decline over 1 year	-19.80%	-15.62%	-4.18%
Max Drawdown (3Y) Largest decline over 3 years	-24.94%	-17.43%	-7.51%
Max Drawdown (5Y) Largest decline over 5 years	-36.34%	-50.88%	+14.54%
Max Drawdown (10Y) Largest decline over 10 years	-36.34%	-58.09%	+21.75%
Current Drawdown Current decline from peak	-16.48%	-12.71%	-3.77%
Average Drawdown Average peak-to-trough decline	-11.18%	-20.60%	+9.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.41%	4.80%	+0.61%

Volatility

MASGX vs. FEATX - Volatility Comparison

Matthews Asia ESG Fund (MASGX) has a higher volatility of 10.78% compared to Fidelity Advisor Emerging Asia Fund Class M (FEATX) at 9.96%. This indicates that MASGX's price experiences larger fluctuations and is considered to be riskier than FEATX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MASGX	FEATX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.78%	9.96%	+0.82%
Volatility (6M) Calculated over the trailing 6-month period	25.26%	23.06%	+2.20%
Volatility (1Y) Calculated over the trailing 1-year period	27.59%	25.40%	+2.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.03%	23.76%	-1.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.42%	21.51%	-2.09%

MASGX vs. FEATX - Expense Ratio Comparison

MASGX has a 1.24% expense ratio, which is lower than FEATX's 1.45% expense ratio.

Dividends

MASGX vs. FEATX - Dividend Comparison

MASGX's dividend yield for the trailing twelve months is around 4.33%, while FEATX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEATX Fidelity Advisor Emerging Asia Fund Class M	0.00%	0.00%	0.00%	0.00%	0.00%	13.43%	6.70%	5.07%	6.24%	0.03%	0.89%	0.87%
MASGX Matthews Asia ESG Fund	4.33%	5.58%	2.58%	7.52%	5.39%	2.60%	5.66%	1.36%	4.52%	3.70%	1.47%	0.00%

Frequently Asked Questions

Can I hold both MASGX and FEATX in my portfolio?

MASGX and FEATX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MASGX or FEATX?

MASGX has higher volatility (10.78%) compared to FEATX (9.96%). In terms of maximum drawdown, MASGX dropped -36.34% vs FEATX's -60.97%.

Which has better risk-adjusted returns?

MASGX currently has the higher Sharpe Ratio (1.63 vs 1.54), 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.