MCDFX vs. MCSMX

Last updated Apr 1, 2026

Compare and contrast key facts about Matthews China Dividend Fund (MCDFX) and Matthews China Small Companies Fund (MCSMX).

MCDFX is managed by Matthews. It was launched on Nov 29, 2009. MCSMX is managed by Matthews. It was launched on May 30, 2011.

Performance

MCDFX vs. MCSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews China Dividend Fund (MCDFX) and Matthews China Small Companies Fund (MCSMX). The values are adjusted to include any dividend payments, if applicable.

MCDFX vs. MCSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MCDFX Matthews China Dividend Fund	5.60%	29.41%	14.93%	-20.68%	-16.72%	-0.60%	26.88%	15.03%	-9.93%	37.52%
MCSMX Matthews China Small Companies Fund	10.66%	28.85%	2.82%	-17.50%	-31.25%	6.71%	82.73%	35.41%	-17.65%	53.71%

Returns By Period

MCDFX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MCSMX

• 1D: -0.63%
• 1M: -10.72%
• YTD: 10.66%
• 6M: 6.47%
• 1Y: 31.98%
• 3Y*: 6.45%
• 5Y*: -2.56%
• 10Y*: 11.23%

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

MCDFX vs. MCSMX - Expense Ratio Comparison

MCDFX has a 1.20% expense ratio, which is lower than MCSMX's 1.41% expense ratio.

MCSMX

Matthews China Small Companies Fund

MCDFX

Matthews China Dividend Fund

Return for Risk

MCDFX vs. MCSMX — Risk / Return Rank

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

MCSMX

MCSMX Risk / Return Rank: 67
MCSMX Sharpe Ratio Rank: 81
MCSMX Sortino Ratio Rank: 78
MCSMX Omega Ratio Rank: 76
MCSMX Calmar Ratio Rank: 56
MCSMX Martin Ratio Rank: 44

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.

MCDFX vs. MCSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews China Dividend Fund (MCDFX) and Matthews China Small Companies Fund (MCSMX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MCDFX	MCSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.48	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.11	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.34	—

Correlation

The correlation between MCDFX and MCSMX is 0.84, 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

MCDFX vs. MCSMX - Dividend Comparison

MCDFX's dividend yield for the trailing twelve months is around 3.84%, more than MCSMX's 2.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MCDFX Matthews China Dividend Fund	3.84%	4.05%	3.97%	4.08%	5.56%	10.35%	3.91%	1.60%	11.25%	9.52%	3.38%	6.42%
MCSMX Matthews China Small Companies Fund	2.01%	2.23%	1.35%	2.36%	1.78%	26.38%	16.98%	1.03%	2.25%	5.66%	4.79%	8.88%

Drawdowns

Drawdown Indicators

	MCDFX	MCSMX	Difference
Max Drawdown Largest peak-to-trough decline	—	-55.77%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-15.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-53.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-55.77%	—
Current Drawdown Current decline from peak	—	-24.92%	—
Average Drawdown Average peak-to-trough decline	—	-20.31%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.63%	—

Volatility

Volatility by Period

	MCDFX	MCSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.13%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.70%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	22.12%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	24.01%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	21.99%	—