MEMX vs. RNWZ

Last updated Jun 14, 2026

MEMX (Matthews Emerging Markets Ex China Active ETF) and RNWZ (TrueShares Eagle Global Renewable Energy Income ETF) are both exchange-traded funds - MEMX is a Emerging Markets Diversified fund actively managed by Matthews, while RNWZ is a Energy Equities fund actively managed by TrueShares. Both are actively managed. Over the past 3 years, MEMX returned 24.90%/yr vs 11.78%/yr for RNWZ. At a 0.46 correlation, their price movements are largely independent. MEMX charges 0.79%/yr vs 0.75%/yr for RNWZ.

Performance

MEMX vs. RNWZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Emerging Markets Ex China Active ETF (MEMX) and TrueShares Eagle Global Renewable Energy Income ETF (RNWZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MEMX achieves a 29.81% return, which is significantly higher than RNWZ's 15.40% return.

MEMX

• 1D: 0.55%
• 1M: 5.01%
• YTD: 29.81%
• 6M: 38.48%
• 1Y: 63.43%
• 3Y*: 24.90%
• 5Y*: —
• 10Y*: —

RNWZ

• 1D: 0.06%
• 1M: 0.92%
• YTD: 15.40%
• 6M: 17.62%
• 1Y: 34.43%
• 3Y*: 11.78%
• 5Y*: —
• 10Y*: —

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

MEMX vs. RNWZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MEMX Matthews Emerging Markets Ex China Active ETF	29.81%	35.88%	5.50%	11.33%
RNWZ TrueShares Eagle Global Renewable Energy Income ETF	15.40%	36.33%	-7.36%	-3.92%

Correlation

The correlation between MEMX and RNWZ is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jan 11, 2023	0.46

Return for Risk

MEMX vs. RNWZ — Risk / Return Rank

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

MEMX

MEMX Risk / Return Rank: 86
MEMX Sharpe Ratio Rank: 89
MEMX Sortino Ratio Rank: 83
MEMX Omega Ratio Rank: 87
MEMX Calmar Ratio Rank: 85
MEMX Martin Ratio Rank: 86

RNWZ

RNWZ Risk / Return Rank: 80
RNWZ Sharpe Ratio Rank: 79
RNWZ Sortino Ratio Rank: 78
RNWZ Omega Ratio Rank: 76
RNWZ Calmar Ratio Rank: 89
RNWZ Martin Ratio Rank: 77

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.

MEMX vs. RNWZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Emerging Markets Ex China Active ETF (MEMX) and TrueShares Eagle Global Renewable Energy Income ETF (RNWZ). 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.

	MEMX	RNWZ	Difference
Sharpe ratio: Return per unit of total volatility	2.61	2.23	+0.38
Sortino ratio: Return per unit of downside risk	3.26	3.04	+0.23
Omega ratio: Gain probability vs. loss probability	1.47	1.39	+0.08
Calmar ratio: Return relative to maximum drawdown	4.16	4.81	-0.64
Martin ratio: Return relative to average drawdown	15.97	12.90	+3.07

MEMX vs. RNWZ - Sharpe Ratio Comparison

The current MEMX Sharpe Ratio is 2.61, which is comparable to the RNWZ Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of MEMX and RNWZ, 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

MEMX vs. RNWZ - Drawdown Comparison

The maximum MEMX drawdown since its inception was -19.27%, smaller than the maximum RNWZ drawdown of -24.90%. Use the drawdown chart below to compare losses from any high point for MEMX and RNWZ.

Drawdown Indicators

	MEMX	RNWZ	Difference
Max Drawdown Largest peak-to-trough decline	-19.27%	-24.90%	+5.63%
Max Drawdown (1Y) Largest decline over 1 year	-14.70%	-7.07%	-7.63%
Max Drawdown (3Y) Largest decline over 3 years	-19.27%	-24.74%	+5.47%
Current Drawdown Current decline from peak	-3.40%	-5.19%	+1.79%
Average Drawdown Average peak-to-trough decline	-3.50%	-7.17%	+3.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.83%	2.63%	+1.20%

Volatility

MEMX vs. RNWZ - Volatility Comparison

Matthews Emerging Markets Ex China Active ETF (MEMX) has a higher volatility of 11.94% compared to TrueShares Eagle Global Renewable Energy Income ETF (RNWZ) at 5.01%. This indicates that MEMX's price experiences larger fluctuations and is considered to be riskier than RNWZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MEMX	RNWZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.94%	5.01%	+6.93%
Volatility (6M) Calculated over the trailing 6-month period	21.24%	12.10%	+9.14%
Volatility (1Y) Calculated over the trailing 1-year period	23.42%	15.25%	+8.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.73%	16.98%	+0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.73%	16.98%	+0.75%

MEMX vs. RNWZ - Expense Ratio Comparison

MEMX has a 0.79% expense ratio, which is higher than RNWZ's 0.75% expense ratio.

Dividends

MEMX vs. RNWZ - Dividend Comparison

MEMX's dividend yield for the trailing twelve months is around 3.76%, more than RNWZ's 1.94% yield.

Position	TTM	2025	2024	2023	2022
MEMX Matthews Emerging Markets Ex China Active ETF	3.76%	4.88%	0.99%	1.13%	0.00%
RNWZ TrueShares Eagle Global Renewable Energy Income ETF	1.94%	2.12%	2.36%	3.87%	0.01%

Frequently Asked Questions

Can I hold both MEMX and RNWZ in my portfolio?

MEMX and RNWZ have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MEMX or RNWZ?

MEMX has higher volatility (11.94%) compared to RNWZ (5.01%). In terms of maximum drawdown, MEMX dropped -19.27% vs RNWZ's -24.90%.

Which ETF is better, MEMX or RNWZ?

On 3-year performance, MEMX leads with 24.90% vs 11.78% for RNWZ. On fees, RNWZ is cheaper at 0.75% per year. On volatility, RNWZ has been the lower-risk option at 5.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MEMX or RNWZ?

Over the 3-year period, MEMX has performed better with a 24.90% return vs 11.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MEMX or RNWZ?

RNWZ is cheaper with a 0.75% expense ratio, compared with 0.79% for MEMX.

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

MEMX has the higher dividend yield at 3.76%, compared with 1.94% for RNWZ.

What is the main difference between MEMX and RNWZ?

MEMX is categorized as Emerging Markets Diversified, while RNWZ is Energy Equities. They also come from different issuers: Matthews and TrueShares. Their fees differ too: 0.79% for MEMX and 0.75% for RNWZ.

Which has better risk-adjusted returns?

MEMX currently has the higher Sharpe Ratio (2.61 vs 2.23), 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.