MCSMX vs. MATFX
Compare and contrast key facts about Matthews China Small Companies Fund (MCSMX) and Matthews Asia Innovators Fund (MATFX).
MCSMX is managed by Matthews. It was launched on May 30, 2011. MATFX is managed by Matthews. It was launched on Dec 26, 1999.
Performance
MCSMX vs. MATFX - Performance Comparison
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MCSMX vs. MATFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
MATFX Matthews Asia Innovators Fund | 6.71% | 30.22% | 16.47% | -1.77% | -24.66% | -5.90% | 86.75% | 29.60% | -18.59% | 52.78% |
Returns By Period
In the year-to-date period, MCSMX achieves a 10.66% return, which is significantly higher than MATFX's 6.71% return. Both investments have delivered pretty close results over the past 10 years, with MCSMX having a 11.23% annualized return and MATFX not far ahead at 11.50%.
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%
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%
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MCSMX vs. MATFX - Expense Ratio Comparison
MCSMX has a 1.41% expense ratio, which is higher than MATFX's 1.18% expense ratio.
Return for Risk
MCSMX vs. MATFX — Risk / Return Rank
MCSMX
MATFX
MCSMX vs. MATFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Matthews China Small Companies Fund (MCSMX) and Matthews Asia Innovators Fund (MATFX). 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.
| MCSMX | MATFX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.48 | 1.72 | -0.23 |
Sortino ratioReturn per unit of downside risk | 1.94 | 2.28 | -0.34 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.32 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.32 | 1.92 | -0.61 |
Martin ratioReturn relative to average drawdown | 4.46 | 6.58 | -2.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MCSMX | MATFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 1.72 | -0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.11 | 0.11 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.52 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.25 | +0.09 |
Correlation
The correlation between MCSMX and MATFX is 0.75, 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
MCSMX vs. MATFX - Dividend Comparison
MCSMX's dividend yield for the trailing twelve months is around 2.01%, while MATFX has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Drawdowns
MCSMX vs. MATFX - Drawdown Comparison
The maximum MCSMX drawdown since its inception was -55.77%, smaller than the maximum MATFX drawdown of -76.88%. Use the drawdown chart below to compare losses from any high point for MCSMX and MATFX.
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Drawdown Indicators
| MCSMX | MATFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.77% | -76.88% | +21.11% |
Max Drawdown (1Y)Largest decline over 1 year | -15.69% | -13.52% | -2.17% |
Max Drawdown (5Y)Largest decline over 5 years | -53.98% | -45.33% | -8.65% |
Max Drawdown (10Y)Largest decline over 10 years | -55.77% | -52.42% | -3.35% |
Current DrawdownCurrent decline from peak | -24.92% | -10.64% | -14.28% |
Average DrawdownAverage peak-to-trough decline | -20.31% | -28.35% | +8.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.63% | 4.75% | +0.88% |
Volatility
MCSMX vs. MATFX - Volatility Comparison
The current volatility for Matthews China Small Companies Fund (MCSMX) is 8.13%, while Matthews Asia Innovators Fund (MATFX) has a volatility of 9.83%. This indicates that MCSMX experiences smaller price fluctuations and is considered to be less risky than MATFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCSMX | MATFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.13% | 9.83% | -1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 14.70% | 15.52% | -0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.12% | 21.52% | +0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.01% | 23.97% | +0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.99% | 22.22% | -0.23% |