MATFX vs. MINV

Last updated Apr 1, 2026

Compare and contrast key facts about Matthews Asia Innovators Fund (MATFX) and Matthews Asia Innovators Active ETF (MINV).

MATFX is managed by Matthews. It was launched on Dec 26, 1999. MINV is an actively managed fund by Matthews. It was launched on Jul 13, 2022.

Performance

MATFX vs. MINV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Asia Innovators Fund (MATFX) and Matthews Asia Innovators Active ETF (MINV). The values are adjusted to include any dividend payments, if applicable.

MATFX vs. MINV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MATFX Matthews Asia Innovators Fund	6.71%	30.22%	16.47%	-1.77%	-3.00%
MINV Matthews Asia Innovators Active ETF	7.75%	30.85%	17.32%	-2.66%	-3.11%

Returns By Period

In the year-to-date period, MATFX achieves a 6.71% return, which is significantly lower than MINV's 7.75% return.

MATFX

• 1D: -1.05%
• 1M: -9.74%
• YTD: 6.71%
• 6M: 3.63%
• 1Y: 36.32%
• 3Y*: 15.76%
• 5Y*: 2.57%
• 10Y*: 11.50%

MINV

• 1D: 2.27%
• 1M: -7.80%
• YTD: 7.75%
• 6M: 4.06%
• 1Y: 38.07%
• 3Y*: 16.47%
• 5Y*: —
• 10Y*: —

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

MATFX vs. MINV - Expense Ratio Comparison

MATFX has a 1.18% expense ratio, which is higher than MINV's 0.79% expense ratio.

MATFX

Matthews Asia Innovators Fund

MINV

Matthews Asia Innovators Active ETF

Return for Risk

MATFX vs. MINV — Risk / Return Rank

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

MATFX

MATFX Risk / Return Rank: 81
MATFX Sharpe Ratio Rank: 87
MATFX Sortino Ratio Rank: 86
MATFX Omega Ratio Rank: 82
MATFX Calmar Ratio Rank: 80
MATFX Martin Ratio Rank: 70

MINV

MINV Risk / Return Rank: 80
MINV Sharpe Ratio Rank: 81
MINV Sortino Ratio Rank: 81
MINV Omega Ratio Rank: 77
MINV Calmar Ratio Rank: 84
MINV Martin Ratio Rank: 76

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.

MATFX vs. MINV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Asia Innovators Fund (MATFX) and Matthews Asia Innovators Active ETF (MINV). 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.

	MATFX	MINV	Difference
Sharpe ratio Return per unit of total volatility	1.72	1.59	+0.13
Sortino ratio Return per unit of downside risk	2.28	2.14	+0.14
Omega ratio Gain probability vs. loss probability	1.32	1.30	+0.03
Calmar ratio Return relative to maximum drawdown	1.92	2.55	-0.63
Martin ratio Return relative to average drawdown	6.58	8.23	-1.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MATFX vs. MINV - Sharpe Ratio Comparison

The current MATFX Sharpe Ratio is 1.72, which is comparable to the MINV Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of MATFX and MINV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MATFX	MINV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	1.59	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.56	-0.30

Correlation

The correlation between MATFX and MINV is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MATFX vs. MINV - Dividend Comparison

MATFX has not paid dividends to shareholders, while MINV's dividend yield for the trailing twelve months is around 1.40%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MATFX Matthews Asia Innovators Fund	0.00%	0.00%	0.00%	0.00%	26.54%	31.07%	1.67%	0.29%	2.63%	8.44%	0.00%	15.24%
MINV Matthews Asia Innovators Active ETF	1.40%	1.51%	0.25%	1.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

MATFX vs. MINV - Drawdown Comparison

The maximum MATFX drawdown since its inception was -76.88%, which is greater than MINV's maximum drawdown of -23.49%. Use the drawdown chart below to compare losses from any high point for MATFX and MINV.

Drawdown Indicators

	MATFX	MINV	Difference
Max Drawdown Largest peak-to-trough decline	-76.88%	-23.49%	-53.39%
Max Drawdown (1Y) Largest decline over 1 year	-13.52%	-14.49%	+0.97%
Max Drawdown (5Y) Largest decline over 5 years	-45.33%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-52.42%	—	—
Current Drawdown Current decline from peak	-10.64%	-8.84%	-1.80%
Average Drawdown Average peak-to-trough decline	-28.35%	-8.39%	-19.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.75%	4.49%	+0.26%

Volatility

MATFX vs. MINV - Volatility Comparison

The current volatility for Matthews Asia Innovators Fund (MATFX) is 9.83%, while Matthews Asia Innovators Active ETF (MINV) has a volatility of 11.61%. This indicates that MATFX experiences smaller price fluctuations and is considered to be less risky than MINV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MATFX	MINV	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.83%	11.61%	-1.78%
Volatility (6M) Calculated over the trailing 6-month period	15.52%	18.15%	-2.63%
Volatility (1Y) Calculated over the trailing 1-year period	21.52%	24.14%	-2.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.97%	22.95%	+1.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.22%	22.95%	-0.73%