MEM vs. MEMX

Last updated Aug 2, 2026

MEM (Matthews Emerging Markets Equity Active ETF) and MEMX (Matthews Emerging Markets Ex China Active ETF) are both Emerging Markets Equities funds from Matthews. Both are actively managed. Over the past 3 years, MEM returned 18.39%/yr vs 20.99%/yr for MEMX. Their correlation of 0.88 means they have usually moved in the same direction. Both charge a 0.79% expense ratio.

Performance

MEM vs. MEMX - 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 Ex China Active ETF (MEMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MEM achieves a 19.05% return, which is significantly lower than MEMX's 20.25% return.

MEM

• 1D: 0.49%
• 1M: -2.31%
• 6M: 9.52%
• YTD: 19.05%
• 1Y: 36.76%
• 3Y*: 18.39%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.59%

MEMX

• 1D: 0.27%
• 1M: -5.81%
• 6M: 10.01%
• YTD: 20.25%
• 1Y: 45.59%
• 3Y*: 20.99%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.15%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MEM Matthews Emerging Markets Equity Active ETF	$91.77K	$110.69K	$126.59K
MEMX Matthews Emerging Markets Ex China Active ETF	$126.06K	$154.77K	$150.51K

MEM vs. MEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MEM Matthews Emerging Markets Equity Active ETF	19.05%	28.31%	10.11%	2.54%
MEMX Matthews Emerging Markets Ex China Active ETF	20.25%	35.88%	5.50%	11.33%

Correlation

The correlation between MEM and MEMX is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (All Time) Calculated using the full available price history since Jan 11, 2023	0.88

The correlation between MEM and MEMX has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

MEM vs. MEMX - Sectors Allocation Comparison

Sectors	MEM	MEMX
Technology	45.6%	52.1%
Financial Services	23.8%	21.4%
Industrials	7.8%	7.1%
Basic Materials	7.7%	2.9%
Consumer Cyclical	6.8%	7.2%
Communication Services	4.3%	1.7%
Energy	2.0%	2.0%
Consumer Defensive	1.4%	1.3%
Healthcare	0.6%	2.6%
Real Estate	-	0.9%
Utilities	-	0.9%

Return for Risk

MEM vs. MEMX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MEM

MEM Risk / Return Rank: 61
MEM Sharpe Ratio Rank: 60
MEM Sortino Ratio Rank: 57
MEM Omega Ratio Rank: 60
MEM Calmar Ratio Rank: 69
MEM Martin Ratio Rank: 58

MEMX

MEMX Risk / Return Rank: 74
MEMX Sharpe Ratio Rank: 75
MEMX Sortino Ratio Rank: 69
MEMX Omega Ratio Rank: 76
MEMX Calmar Ratio Rank: 77
MEMX Martin Ratio Rank: 73

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MEM vs. MEMX - 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 Ex China Active ETF (MEMX). 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.

	MEM	MEMX	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.70	-0.28
Sortino ratio: Return per unit of downside risk	1.98	2.26	-0.28
Omega ratio: Gain probability vs. loss probability	1.26	1.31	-0.05
Calmar ratio: Return relative to maximum drawdown	2.43	2.68	-0.26
Martin ratio: Return relative to average drawdown	6.94	9.02	-2.08

MEM vs. MEMX - Sharpe Ratio Comparison

The current MEM Sharpe Ratio is 1.42, which is comparable to the MEMX Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of MEM and MEMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MEM vs. MEMX - Drawdown Comparison

The maximum MEM drawdown since its inception was -19.10%, roughly equal to the maximum MEMX drawdown of -19.27%. Use the drawdown chart below to compare losses from any high point for MEM and MEMX.

Drawdown Indicators

	MEM	MEMX	Difference
Max Drawdown Largest peak-to-trough decline	-19.10%	-19.27%	+0.17%
Max Drawdown (1Y) Largest decline over 1 year	-14.62%	-16.84%	+2.22%
Max Drawdown (3Y) Largest decline over 3 years	-19.10%	-19.27%	+0.17%
Current Drawdown Current decline from peak	-10.05%	-12.57%	+2.52%
Average Drawdown Average peak-to-trough decline	-4.84%	-3.66%	-1.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.10%	4.99%	+0.11%

Volatility

MEM vs. MEMX - Volatility Comparison

The current volatility for Matthews Emerging Markets Equity Active ETF (MEM) is 8.37%, while Matthews Emerging Markets Ex China Active ETF (MEMX) has a volatility of 9.83%. This indicates that MEM experiences smaller price fluctuations and is considered to be less risky than MEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MEM	MEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.37%	9.83%	-1.46%
Volatility (6M) Calculated over the trailing 6-month period	22.50%	24.48%	-1.98%
Volatility (1Y) Calculated over the trailing 1-year period	24.96%	26.49%	-1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.37%	18.76%	+0.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.37%	18.76%	+0.61%

MEM vs. MEMX - Expense Ratio Comparison

Both MEM and MEMX have an expense ratio of 0.79%.

Dividends

MEM vs. MEMX - Dividend Comparison

MEM's dividend yield for the trailing twelve months is around 2.99%, less than MEMX's 4.06% yield.

Position	TTM	2025	2024	2023	2022
MEM Matthews Emerging Markets Equity Active ETF	2.99%	3.56%	7.81%	0.01%	0.53%
MEMX Matthews Emerging Markets Ex China Active ETF	4.06%	4.88%	0.99%	1.13%	0.00%

Frequently Asked Questions

Can I hold both MEM and MEMX in my portfolio?

With a correlation of 0.91, MEM and MEMX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MEM or MEMX?

MEMX has higher volatility (9.83%) compared to MEM (8.37%). In terms of maximum drawdown, MEM dropped -19.10% vs MEMX's -19.27%.

Which ETF is better, MEM or MEMX?

On 3-year performance, MEMX leads with 20.99% vs 18.39% for MEM. Both ETFs have the same 0.79% expense ratio. On volatility, MEM has been the lower-risk option at 8.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MEM or MEMX?

Over the 3-year period, MEMX has performed better with a 20.99% return vs 18.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MEM or MEMX?

MEM and MEMX have the same expense ratio: 0.79% per year.

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

MEMX has the higher dividend yield at 4.06%, compared with 2.99% for MEM.

Which has better risk-adjusted returns?

MEMX currently has the higher Sharpe Ratio (1.70 vs 1.42), 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.