MASGX vs. MSMLX
MASGX (Matthews Asia ESG Fund) and MSMLX (Matthews Emerging Markets Small Companies Fund) are both mutual funds - MASGX is a Asia Pacific Equities fund managed by Matthews, while MSMLX is a Emerging Markets Equities fund managed by Matthews. Over the past 10 years, MASGX returned 10.77%/yr vs 10.21%/yr for MSMLX. Their correlation of 0.85 means they have usually moved in the same direction. MASGX charges 1.24%/yr vs 1.37%/yr for MSMLX.
Performance
MASGX vs. MSMLX - Performance Comparison
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Returns By Period
In the year-to-date period, MASGX achieves a 28.81% return, which is significantly higher than MSMLX's 13.53% return. Over the past 10 years, MASGX has outperformed MSMLX with an annualized return of 10.77%, while MSMLX has yielded a comparatively lower 10.21% 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%
MSMLX
- 1D
- 2.45%
- 1M
- -8.98%
- 6M
- 6.28%
- YTD
- 13.53%
- 1Y
- 17.69%
- 3Y*
- 5.65%
- 5Y*
- 4.57%
- 10Y*
- 10.21%
- ALL TIME*
- 10.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MASGX vs. MSMLX - 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% |
MSMLX Matthews Emerging Markets Small Companies Fund | 13.53% | 13.50% | -6.10% | 20.04% | -16.78% | 26.40% | 43.69% | 17.38% | -17.80% | 30.43% |
Correlation
The correlation between MASGX and MSMLX is 0.86, 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. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.85 |
The correlation between MASGX and MSMLX has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.
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Return for Risk
MASGX vs. MSMLX — Risk / Return Rank
MASGX
MSMLX
MASGX vs. MSMLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Matthews Asia ESG Fund (MASGX) and Matthews Emerging Markets Small Companies Fund (MSMLX). 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 | MSMLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.16 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | 1.23 | +1.03 |
| Martin ratioReturn relative to average drawdown | 8.27 | 3.66 | +4.61 |
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Drawdowns
MASGX vs. MSMLX - Drawdown Comparison
The maximum MASGX drawdown since its inception was -36.34%, roughly equal to the maximum MSMLX drawdown of -36.40%. Use the drawdown chart below to compare losses from any high point for MASGX and MSMLX.
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Drawdown Indicators
| MASGX | MSMLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.34% | -36.40% | +0.06% |
Max Drawdown (1Y)Largest decline over 1 year | -19.80% | -13.68% | -6.12% |
Max Drawdown (3Y)Largest decline over 3 years | -24.94% | -22.62% | -2.32% |
Max Drawdown (5Y)Largest decline over 5 years | -36.34% | -28.00% | -8.34% |
Max Drawdown (10Y)Largest decline over 10 years | -36.34% | -34.33% | -2.01% |
Current DrawdownCurrent decline from peak | -16.48% | -11.56% | -4.92% |
Average DrawdownAverage peak-to-trough decline | -11.18% | -9.20% | -1.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.41% | 4.58% | +0.83% |
Volatility
MASGX vs. MSMLX - Volatility Comparison
Matthews Asia ESG Fund (MASGX) has a higher volatility of 10.78% compared to Matthews Emerging Markets Small Companies Fund (MSMLX) at 6.80%. This indicates that MASGX's price experiences larger fluctuations and is considered to be riskier than MSMLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MASGX | MSMLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.78% | 6.80% | +3.98% |
Volatility (6M)Calculated over the trailing 6-month period | 25.26% | 18.65% | +6.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.59% | 20.86% | +6.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.03% | 18.09% | +3.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.42% | 17.45% | +1.97% |
MASGX vs. MSMLX - Expense Ratio Comparison
MASGX has a 1.24% expense ratio, which is lower than MSMLX's 1.37% expense ratio.
Dividends
MASGX vs. MSMLX - Dividend Comparison
MASGX's dividend yield for the trailing twelve months is around 4.33%, more than MSMLX's 1.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MSMLX Matthews Emerging Markets Small Companies Fund | 1.32% | 1.50% | 3.95% | 8.36% | 8.04% | 9.18% | 0.28% | 0.51% | 21.31% | 8.12% | 0.43% | 0.13% |
Frequently Asked Questions
MASGX and MSMLX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MASGX has higher volatility (10.78%) compared to MSMLX (6.80%). In terms of maximum drawdown, MASGX dropped -36.34% vs MSMLX's -36.40%.
MASGX currently has the higher Sharpe Ratio (1.63 vs 0.81), 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.
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