MEM vs. MEMS

Last updated Jun 4, 2026

MEM (Matthews Emerging Markets Equity Active ETF) and MEMS (Matthews Emerging Markets Discovery Active ETF) are both Emerging Markets Diversified funds from Matthews. Both are actively managed. Over the past year, MEM returned 54.36% vs 29.83% for MEMS. A 0.79 correlation means they provide meaningful diversification when combined. MEM charges 0.79%/yr vs 0.89%/yr for MEMS.

Performance

MEM vs. MEMS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Emerging Markets Equity Active ETF (MEM) and Matthews Emerging Markets Discovery Active ETF (MEMS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MEM achieves a 28.39% return, which is significantly higher than MEMS's 22.91% return.

MEM

• 1D: -1.34%
• 1M: 8.03%
• YTD: 28.39%
• 6M: 30.14%
• 1Y: 54.36%
• 3Y*: 23.26%
• 5Y*: —
• 10Y*: —

MEMS

• 1D: -1.12%
• 1M: 1.70%
• YTD: 22.91%
• 6M: 21.97%
• 1Y: 29.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MEM vs. MEMS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MEM Matthews Emerging Markets Equity Active ETF	28.39%	28.31%	12.32%
MEMS Matthews Emerging Markets Discovery Active ETF	22.91%	11.12%	-5.68%

Correlation

The correlation between MEM and MEMS is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024	0.79

The correlation between MEM and MEMS has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.

MEM vs. MEMS - Sectors Allocation Comparison

Sectors	MEM	MEMS
Technology	37.5%	31.3%
Financial Services	24.6%	16.2%
Basic Materials	9.2%	1.4%
Consumer Cyclical	9.1%	12.0%
Industrials	8.9%	16.0%
Communication Services	5.6%	2.8%
Energy	2.9%	3.2%
Real Estate	1.6%	3.4%
Consumer Defensive	1.4%	5.3%
Healthcare	0.8%	8.4%
Utilities	-	1.0%

Return for Risk

MEM vs. MEMS — Risk / Return Rank

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

MEM

MEM Risk / Return Rank: 77
MEM Sharpe Ratio Rank: 81
MEM Sortino Ratio Rank: 78
MEM Omega Ratio Rank: 78
MEM Calmar Ratio Rank: 75
MEM Martin Ratio Rank: 73

MEMS

MEMS Risk / Return Rank: 43
MEMS Sharpe Ratio Rank: 41
MEMS Sortino Ratio Rank: 40
MEMS Omega Ratio Rank: 40
MEMS Calmar Ratio Rank: 47
MEMS Martin Ratio Rank: 46

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.

MEM vs. MEMS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Emerging Markets Equity Active ETF (MEM) and Matthews Emerging Markets Discovery Active ETF (MEMS). 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.

	MEM	MEMS	Difference
Sharpe ratio: Return per unit of total volatility	2.65	1.43	+1.22
Sortino ratio: Return per unit of downside risk	3.47	2.02	+1.45
Omega ratio: Gain probability vs. loss probability	1.47	1.26	+0.21
Calmar ratio: Return relative to maximum drawdown	3.74	2.30	+1.44
Martin ratio: Return relative to average drawdown	13.64	7.41	+6.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MEM vs. MEMS - Sharpe Ratio Comparison

The current MEM Sharpe Ratio is 2.65, which is higher than the MEMS Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of MEM and MEMS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MEM	MEMS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.65	1.43	+1.22
Sharpe Ratio (All Time) Calculated using the full available price history	1.14	0.58	+0.56

Drawdowns

MEM vs. MEMS - Drawdown Comparison

The maximum MEM drawdown since its inception was -19.10%, smaller than the maximum MEMS drawdown of -22.24%. Use the drawdown chart below to compare losses from any high point for MEM and MEMS.

Drawdown Indicators

	MEM	MEMS	Difference
Max Drawdown Largest peak-to-trough decline	-19.10%	-22.24%	+3.14%
Max Drawdown (1Y) Largest decline over 1 year	-14.62%	-13.05%	-1.57%
Max Drawdown (3Y) Largest decline over 3 years	-19.10%	—	—
Current Drawdown Current decline from peak	-1.34%	-2.54%	+1.20%
Average Drawdown Average peak-to-trough decline	-4.74%	-5.22%	+0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.00%	4.04%	-0.04%

Volatility

MEM vs. MEMS - Volatility Comparison

Matthews Emerging Markets Equity Active ETF (MEM) has a higher volatility of 8.97% compared to Matthews Emerging Markets Discovery Active ETF (MEMS) at 7.70%. This indicates that MEM's price experiences larger fluctuations and is considered to be riskier than MEMS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MEM	MEMS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.97%	7.70%	+1.27%
Volatility (6M) Calculated over the trailing 6-month period	17.95%	17.63%	+0.32%
Volatility (1Y) Calculated over the trailing 1-year period	20.65%	20.99%	-0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.31%	19.43%	-1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.31%	19.43%	-1.12%

MEM vs. MEMS - Expense Ratio Comparison

MEM has a 0.79% expense ratio, which is lower than MEMS's 0.89% expense ratio.

Dividends

MEM vs. MEMS - Dividend Comparison

MEM's dividend yield for the trailing twelve months is around 2.77%, more than MEMS's 2.29% yield.

Position	TTM	2025	2024	2023	2022
MEM Matthews Emerging Markets Equity Active ETF	2.77%	3.56%	7.81%	0.01%	0.53%
MEMS Matthews Emerging Markets Discovery Active ETF	2.29%	2.81%	1.42%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MEM and MEMS in my portfolio?

MEM and MEMS have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MEM or MEMS?

MEM has higher volatility (8.97%) compared to MEMS (7.70%). In terms of maximum drawdown, MEM dropped -19.10% vs MEMS's -22.24%.

Which ETF is better, MEM or MEMS?

On 1-year performance, MEM leads with 54.36% vs 29.83% for MEMS. On fees, MEM is cheaper at 0.79% per year. On volatility, MEMS has been the lower-risk option at 7.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MEM or MEMS?

Over the 1-year period, MEM has performed better with a 54.36% return vs 29.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MEM or MEMS?

MEM is cheaper with a 0.79% expense ratio, compared with 0.89% for MEMS.

Which ETF pays a higher dividend yield, MEM or MEMS?

MEM has the higher dividend yield at 2.77%, compared with 2.29% for MEMS.

What is the main difference between MEM and MEMS?

Their fees differ too: 0.79% for MEM and 0.89% for MEMS.

Which has better risk-adjusted returns?

MEM currently has the higher Sharpe Ratio (2.65 vs 1.43), 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.