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MEMX vs. SMIN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

MEMX vs. SMIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Emerging Markets Ex China Active ETF (MEMX) and iShares MSCI India Small-Cap ETF (SMIN). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MEMX achieves a 29.86% return, which is significantly higher than SMIN's -0.23% return.


MEMX

1D
-5.58%
1M
3.50%
YTD
29.86%
6M
31.95%
1Y
62.81%
3Y*
25.58%
5Y*
10Y*

SMIN

1D
-1.48%
1M
4.98%
YTD
-0.23%
6M
-1.01%
1Y
-4.08%
3Y*
10.32%
5Y*
7.50%
10Y*
10.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MEMX vs. SMIN - Yearly Performance Comparison


2026 (YTD)202520242023
MEMX
Matthews Emerging Markets Ex China Active ETF
29.86%35.88%5.50%11.33%
SMIN
iShares MSCI India Small-Cap ETF
-0.23%-6.68%16.78%33.15%

Correlation

The correlation between MEMX and SMIN is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.49

Correlation (3Y)
Calculated over the trailing 3-year period

0.46

Correlation (All Time)
Calculated using the full available price history since Jan 11, 2023

0.46

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Return for Risk

MEMX vs. SMIN — Risk / Return Rank

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

MEMX
MEMX Risk / Return Rank: 8383
Overall Rank
MEMX Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
MEMX Sortino Ratio Rank: 7777
Sortino Ratio Rank
MEMX Omega Ratio Rank: 8484
Omega Ratio Rank
MEMX Calmar Ratio Rank: 8585
Calmar Ratio Rank
MEMX Martin Ratio Rank: 8585
Martin Ratio Rank

SMIN
SMIN Risk / Return Rank: 77
Overall Rank
SMIN Sharpe Ratio Rank: 77
Sharpe Ratio Rank
SMIN Sortino Ratio Rank: 66
Sortino Ratio Rank
SMIN Omega Ratio Rank: 66
Omega Ratio Rank
SMIN Calmar Ratio Rank: 77
Calmar Ratio Rank
SMIN Martin Ratio Rank: 77
Martin Ratio Rank
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. SMIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Emerging Markets Ex China Active ETF (MEMX) and iShares MSCI India Small-Cap ETF (SMIN). 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.


MEMXSMINDifference
Sharpe ratioReturn per unit of total volatility

+2.79

Sortino ratioReturn per unit of downside risk

+3.36

Omega ratioGain probability vs. loss probability

1.47

0.98

+0.49

Calmar ratioReturn relative to maximum drawdown

4.30

-0.17

+4.46

Martin ratioReturn relative to average drawdown

16.40

-0.37

+16.77

MEMX vs. SMIN - Sharpe Ratio Comparison

The current MEMX Sharpe Ratio is 2.57, which is higher than the SMIN Sharpe Ratio of -0.22. The chart below compares the historical Sharpe Ratios of MEMX and SMIN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Drawdowns

MEMX vs. SMIN - Drawdown Comparison

The maximum MEMX drawdown since its inception was -19.27%, smaller than the maximum SMIN drawdown of -60.50%. Use the drawdown chart below to compare losses from any high point for MEMX and SMIN.


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Drawdown Indicators


MEMXSMINDifference

Max Drawdown

Largest peak-to-trough decline

-19.27%

-60.50%

+41.23%

Max Drawdown (1Y)

Largest decline over 1 year

-14.70%

-24.54%

+9.84%

Max Drawdown (3Y)

Largest decline over 3 years

-19.27%

-27.58%

+8.31%

Max Drawdown (5Y)

Largest decline over 5 years

-27.58%

Max Drawdown (10Y)

Largest decline over 10 years

-60.50%

Current Drawdown

Current decline from peak

-5.58%

-12.74%

+7.16%

Average Drawdown

Average peak-to-trough decline

-3.49%

-14.62%

+11.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.84%

11.11%

-7.27%

Volatility

MEMX vs. SMIN - Volatility Comparison

Matthews Emerging Markets Ex China Active ETF (MEMX) has a higher volatility of 13.33% compared to iShares MSCI India Small-Cap ETF (SMIN) at 5.74%. This indicates that MEMX's price experiences larger fluctuations and is considered to be riskier than SMIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


MEMXSMINDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.33%

5.74%

+7.59%

Volatility (6M)

Calculated over the trailing 6-month period

22.43%

15.96%

+6.47%

Volatility (1Y)

Calculated over the trailing 1-year period

24.53%

18.89%

+5.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.15%

18.93%

-0.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.15%

22.85%

-4.70%

MEMX vs. SMIN - Expense Ratio Comparison

MEMX has a 0.79% expense ratio, which is higher than SMIN's 0.76% expense ratio.


Dividends

MEMX vs. SMIN - Dividend Comparison

MEMX's dividend yield for the trailing twelve months is around 3.76%, more than SMIN's 2.02% yield.


PositionTTM20252024202320222021202020192018201720162015
MEMX
Matthews Emerging Markets Ex China Active ETF
3.76%4.88%0.99%1.13%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SMIN
iShares MSCI India Small-Cap ETF
2.02%2.01%6.84%0.41%0.01%1.27%1.06%1.75%1.68%0.89%2.30%0.93%

Frequently Asked Questions


MEMX and SMIN have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MEMX has higher volatility (13.33%) compared to SMIN (5.74%). In terms of maximum drawdown, MEMX dropped -19.27% vs SMIN's -60.50%.

On 3-year performance, MEMX leads with 25.58% vs 10.32% for SMIN. On fees, SMIN is cheaper at 0.76% per year. On volatility, SMIN has been the lower-risk option at 5.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, MEMX has performed better with a 25.58% return vs 10.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SMIN is cheaper with a 0.76% expense ratio, compared with 0.79% for MEMX.

MEMX has the higher dividend yield at 3.76%, compared with 2.02% for SMIN.

MEMX is categorized as Emerging Markets Diversified, while SMIN is Asia Pacific Equities. They also come from different issuers: Matthews and iShares. Their fees differ too: 0.79% for MEMX and 0.76% for SMIN.

MEMX currently has the higher Sharpe Ratio (2.57 vs -0.22), 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.

Portfolio Optimizer

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