MEMX vs. VEXC

Last updated Jun 3, 2026

MEMX (Matthews Emerging Markets Ex China Active ETF) and VEXC (Vanguard Emerging Markets Ex-China ETF) are both exchange-traded funds - MEMX is a Emerging Markets Diversified fund actively managed by Matthews, while VEXC is a Emerging Markets Equities fund tracking the FTSE Emerging ex China Index. MEMX is actively managed, while VEXC is passively managed. Their correlation of 0.91 suggests significant overlap in exposure. MEMX charges 0.79%/yr vs 0.07%/yr for VEXC.

Performance

MEMX vs. VEXC - Performance Comparison

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

Returns By Period

In the year-to-date period, MEMX achieves a 34.37% return, which is significantly higher than VEXC's 21.67% return.

MEMX

• 1D: 0.27%
• 1M: 11.98%
• YTD: 34.37%
• 6M: 44.33%
• 1Y: 72.52%
• 3Y*: 27.36%
• 5Y*: —
• 10Y*: —

VEXC

• 1D: 0.71%
• 1M: 5.92%
• YTD: 21.67%
• 6M: 25.21%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MEMX vs. VEXC - Yearly Performance Comparison

	2026 (YTD)	2025
MEMX Matthews Emerging Markets Ex China Active ETF	34.37%	11.45%
VEXC Vanguard Emerging Markets Ex-China ETF	21.67%	4.80%

Correlation

The correlation between MEMX and VEXC is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 3, 2025	0.91

Return for Risk

MEMX vs. VEXC — Risk / Return Rank

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

MEMX

MEMX Risk / Return Rank: 90
MEMX Sharpe Ratio Rank: 92
MEMX Sortino Ratio Rank: 90
MEMX Omega Ratio Rank: 90
MEMX Calmar Ratio Rank: 87
MEMX Martin Ratio Rank: 89

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. VEXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Emerging Markets Ex China Active ETF (MEMX) and Vanguard Emerging Markets Ex-China ETF (VEXC). 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.

	MEMX	VEXC	Difference
Sharpe ratio Return per unit of total volatility	3.39	—	—
Sortino ratio Return per unit of downside risk	4.20	—	—
Omega ratio Gain probability vs. loss probability	1.60	—	—
Calmar ratio Return relative to maximum drawdown	5.01	—	—
Martin ratio Return relative to average drawdown	20.00	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MEMX	VEXC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.47	2.37	-0.90

Drawdowns

MEMX vs. VEXC - Drawdown Comparison

The maximum MEMX drawdown since its inception was -19.27%, which is greater than VEXC's maximum drawdown of -12.42%. Use the drawdown chart below to compare losses from any high point for MEMX and VEXC.

Drawdown Indicators

	MEMX	VEXC	Difference
Max Drawdown Largest peak-to-trough decline	-19.27%	-12.42%	-6.85%
Max Drawdown (1Y) Largest decline over 1 year	-14.70%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.27%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.49%	-2.24%	-1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	—	—

Volatility

Volatility by Period

	MEMX	VEXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.32%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.01%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.50%	18.88%	+2.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.09%	18.88%	-1.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.09%	18.88%	-1.79%

MEMX vs. VEXC - Expense Ratio Comparison

MEMX has a 0.79% expense ratio, which is higher than VEXC's 0.07% expense ratio.

Dividends

MEMX vs. VEXC - Dividend Comparison

MEMX's dividend yield for the trailing twelve months is around 3.63%, more than VEXC's 0.73% yield.

Position	TTM	2025	2024	2023
MEMX Matthews Emerging Markets Ex China Active ETF	3.63%	4.88%	0.99%	1.13%
VEXC Vanguard Emerging Markets Ex-China ETF	0.73%	0.43%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MEMX and VEXC in my portfolio?

With a correlation of 0.91, MEMX and VEXC 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 ETF is better, MEMX or VEXC?

On fees, VEXC is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MEMX or VEXC?

VEXC is cheaper with a 0.07% expense ratio, compared with 0.79% for MEMX.

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

MEMX has the higher dividend yield at 3.63%, compared with 0.73% for VEXC.

What is the main difference between MEMX and VEXC?

MEMX is categorized as Emerging Markets Diversified, while VEXC is Emerging Markets Equities. They also come from different issuers: Matthews and Vanguard. Their fees differ too: 0.79% for MEMX and 0.07% for VEXC.