MCSMX vs. GOPIX

Last updated Jun 25, 2026

MCSMX (Matthews China Small Companies Fund) and GOPIX (abrdn China A Share Equity Fund) are both China Equities funds. A 0.72 correlation means they provide meaningful diversification when combined. MCSMX charges 1.41%/yr vs 0.99%/yr for GOPIX.

Performance

MCSMX vs. GOPIX - Performance Comparison

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

Returns By Period

MCSMX

• 1D: -4.39%
• 1M: 5.46%
• YTD: 48.51%
• 6M: 47.23%
• 1Y: 74.62%
• 3Y*: 23.22%
• 5Y*: 1.57%
• 10Y*: 14.78%

GOPIX

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

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

MCSMX vs. GOPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MCSMX Matthews China Small Companies Fund	48.51%	28.85%	2.82%	-17.50%	-31.25%	6.71%	82.73%	35.41%	-17.65%	53.71%
GOPIX abrdn China A Share Equity Fund	0.00%	25.89%	5.70%	-24.96%	-22.46%	-3.67%	56.93%	31.74%	-11.87%	35.06%

Correlation

The correlation between MCSMX and GOPIX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012	0.72

Over the past year, the correlation between MCSMX and GOPIX has dropped to 0.22 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

Return for Risk

MCSMX vs. GOPIX — Risk / Return Rank

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

MCSMX

MCSMX Risk / Return Rank: 94
MCSMX Sharpe Ratio Rank: 97
MCSMX Sortino Ratio Rank: 91
MCSMX Omega Ratio Rank: 88
MCSMX Calmar Ratio Rank: 97
MCSMX Martin Ratio Rank: 94

GOPIX

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

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.

MCSMX vs. GOPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews China Small Companies Fund (MCSMX) and abrdn China A Share Equity Fund (GOPIX). 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.

	MCSMX	GOPIX	Difference
Sharpe ratio: Return per unit of total volatility	3.31	—	—
Sortino ratio: Return per unit of downside risk	4.10	—	—
Omega ratio: Gain probability vs. loss probability	1.57	—	—
Calmar ratio: Return relative to maximum drawdown	6.67	—	—
Martin ratio: Return relative to average drawdown	19.09	—	—

Drawdowns

Drawdown Indicators

	MCSMX	GOPIX	Difference
Max Drawdown Largest peak-to-trough decline	-55.77%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-12.32%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-26.50%	—	—
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	-4.39%	—	—
Average Drawdown Average peak-to-trough decline	-20.15%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.27%	—	—

Volatility

Volatility by Period

	MCSMX	GOPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.30%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.81%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.95%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.62%	—	—

MCSMX vs. GOPIX - Expense Ratio Comparison

MCSMX has a 1.41% expense ratio, which is higher than GOPIX's 0.99% expense ratio.

Dividends

MCSMX vs. GOPIX - Dividend Comparison

MCSMX's dividend yield for the trailing twelve months is around 1.50%, more than GOPIX's 1.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GOPIX abrdn China A Share Equity Fund	1.46%	1.46%	1.29%	0.79%	0.00%	5.22%	1.42%	4.45%	0.41%	1.24%	1.40%	2.03%
MCSMX Matthews China Small Companies Fund	1.50%	2.23%	1.35%	2.36%	1.78%	26.38%	16.98%	1.03%	2.25%	5.66%	4.79%	8.88%

Frequently Asked Questions

Can I hold both MCSMX and GOPIX in my portfolio?

MCSMX and GOPIX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.