MINV vs. ^NDX

Last updated Apr 1, 2026

Compare and contrast key facts about Matthews Asia Innovators Active ETF (MINV) and NASDAQ 100 Index (^NDX).

MINV is an actively managed fund by Matthews. It was launched on Jul 13, 2022.

Performance

MINV vs. ^NDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Asia Innovators Active ETF (MINV) and NASDAQ 100 Index (^NDX). The values are adjusted to include any dividend payments, if applicable.

MINV vs. ^NDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MINV Matthews Asia Innovators Active ETF	7.75%	30.85%	17.32%	-2.66%	-3.11%
^NDX NASDAQ 100 Index	-5.98%	20.17%	24.88%	53.81%	-7.04%

Returns By Period

In the year-to-date period, MINV achieves a 7.75% return, which is significantly higher than ^NDX's -5.98% return.

MINV

• 1D: 2.27%
• 1M: -7.80%
• YTD: 7.75%
• 6M: 4.06%
• 1Y: 38.07%
• 3Y*: 16.47%
• 5Y*: —
• 10Y*: —

^NDX

• 1D: 3.43%
• 1M: -4.89%
• YTD: -5.98%
• 6M: -3.81%
• 1Y: 23.14%
• 3Y*: 21.67%
• 5Y*: 12.24%
• 10Y*: 18.01%

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

Return for Risk

MINV vs. ^NDX — Risk / Return Rank

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

MINV

MINV Risk / Return Rank: 80
MINV Sharpe Ratio Rank: 81
MINV Sortino Ratio Rank: 81
MINV Omega Ratio Rank: 77
MINV Calmar Ratio Rank: 84
MINV Martin Ratio Rank: 76

^NDX

^NDX Risk / Return Rank: 80
^NDX Sharpe Ratio Rank: 75
^NDX Sortino Ratio Rank: 82
^NDX Omega Ratio Rank: 80
^NDX Calmar Ratio Rank: 80
^NDX Martin Ratio Rank: 85

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.

MINV vs. ^NDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Asia Innovators Active ETF (MINV) and NASDAQ 100 Index (^NDX). 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.

	MINV	^NDX	Difference
Sharpe ratio Return per unit of total volatility	1.59	1.02	+0.56
Sortino ratio Return per unit of downside risk	2.14	1.60	+0.54
Omega ratio Gain probability vs. loss probability	1.30	1.23	+0.07
Calmar ratio Return relative to maximum drawdown	2.55	1.82	+0.73
Martin ratio Return relative to average drawdown	8.23	6.70	+1.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MINV vs. ^NDX - Sharpe Ratio Comparison

The current MINV Sharpe Ratio is 1.59, which is higher than the ^NDX Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of MINV and ^NDX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MINV	^NDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	1.02	+0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.54	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.55	+0.01

Correlation

The correlation between MINV and ^NDX is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Drawdowns

MINV vs. ^NDX - Drawdown Comparison

The maximum MINV drawdown since its inception was -23.49%, smaller than the maximum ^NDX drawdown of -82.90%. Use the drawdown chart below to compare losses from any high point for MINV and ^NDX.

Drawdown Indicators

	MINV	^NDX	Difference
Max Drawdown Largest peak-to-trough decline	-23.49%	-82.90%	+59.41%
Max Drawdown (1Y) Largest decline over 1 year	-14.49%	-12.72%	-1.77%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.56%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.56%	—
Current Drawdown Current decline from peak	-8.84%	-9.11%	+0.27%
Average Drawdown Average peak-to-trough decline	-8.39%	-24.72%	+16.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.49%	3.45%	+1.04%

Volatility

MINV vs. ^NDX - Volatility Comparison

Matthews Asia Innovators Active ETF (MINV) has a higher volatility of 11.61% compared to NASDAQ 100 Index (^NDX) at 6.57%. This indicates that MINV's price experiences larger fluctuations and is considered to be riskier than ^NDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MINV	^NDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.61%	6.57%	+5.04%
Volatility (6M) Calculated over the trailing 6-month period	18.15%	12.88%	+5.27%
Volatility (1Y) Calculated over the trailing 1-year period	24.14%	22.75%	+1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.95%	22.62%	+0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.95%	22.48%	+0.47%