MINV vs. ADIV

Last updated Jun 4, 2026

MINV (Matthews Asia Innovators Active ETF) and ADIV (SmartETFs Asia Pacific Dividend Builder ETF) are both Asia Pacific Equities funds. Both are actively managed. Over the past 3 years, MINV returned 34.15%/yr vs 17.71%/yr for ADIV. A 0.77 correlation means they provide meaningful diversification when combined. MINV charges 0.79%/yr vs 0.78%/yr for ADIV.

Performance

MINV vs. ADIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Asia Innovators Active ETF (MINV) and SmartETFs Asia Pacific Dividend Builder ETF (ADIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MINV achieves a 58.70% return, which is significantly higher than ADIV's 8.00% return.

MINV

• 1D: -1.11%
• 1M: 14.54%
• YTD: 58.70%
• 6M: 60.02%
• 1Y: 93.90%
• 3Y*: 34.15%
• 5Y*: —
• 10Y*: —

ADIV

• 1D: -1.20%
• 1M: 4.12%
• YTD: 8.00%
• 6M: 7.65%
• 1Y: 19.14%
• 3Y*: 17.71%
• 5Y*: 6.49%
• 10Y*: —

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

MINV vs. ADIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MINV Matthews Asia Innovators Active ETF	58.70%	30.85%	17.32%	-2.66%	-3.11%
ADIV SmartETFs Asia Pacific Dividend Builder ETF	8.00%	21.86%	14.47%	12.28%	-0.48%

Correlation

The correlation between MINV and ADIV is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jul 15, 2022	0.77

The correlation between MINV and ADIV has been stable across timeframes, ranging from 0.68 to 0.77 - a consistent structural relationship.

MINV vs. ADIV - Sectors Allocation Comparison

Sectors	MINV	ADIV
Technology	62.8%	25.5%
Industrials	17.8%	2.4%
Consumer Cyclical	3.5%	16.3%
Healthcare	3.0%	5.6%
Communication Services	2.2%	2.7%
Energy	1.5%	-
Financial Services	1.2%	32.4%
Basic Materials	0.8%	-
Consumer Defensive	-	4.7%
Real Estate	-	7.9%
Utilities	-	2.5%

Return for Risk

MINV vs. ADIV — Risk / Return Rank

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

MINV

MINV Risk / Return Rank: 93
MINV Sharpe Ratio Rank: 95
MINV Sortino Ratio Rank: 92
MINV Omega Ratio Rank: 92
MINV Calmar Ratio Rank: 96
MINV Martin Ratio Rank: 92

ADIV

ADIV Risk / Return Rank: 39
ADIV Sharpe Ratio Rank: 40
ADIV Sortino Ratio Rank: 39
ADIV Omega Ratio Rank: 39
ADIV Calmar Ratio Rank: 38
ADIV Martin Ratio Rank: 39

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. ADIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Asia Innovators Active ETF (MINV) and SmartETFs Asia Pacific Dividend Builder ETF (ADIV). 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	ADIV	Difference
Sharpe ratio: Return per unit of total volatility	3.76	1.43	+2.33
Sortino ratio: Return per unit of downside risk	4.54	2.03	+2.51
Omega ratio: Gain probability vs. loss probability	1.62	1.26	+0.37
Calmar ratio: Return relative to maximum drawdown	8.68	1.89	+6.79
Martin ratio: Return relative to average drawdown	23.03	6.27	+16.76
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. ADIV - Sharpe Ratio Comparison

The current MINV Sharpe Ratio is 3.76, which is higher than the ADIV Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of MINV and ADIV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MINV	ADIV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.76	1.43	+2.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.42	+0.59

Drawdowns

MINV vs. ADIV - Drawdown Comparison

The maximum MINV drawdown since its inception was -23.49%, smaller than the maximum ADIV drawdown of -31.55%. Use the drawdown chart below to compare losses from any high point for MINV and ADIV.

Drawdown Indicators

	MINV	ADIV	Difference
Max Drawdown Largest peak-to-trough decline	-23.49%	-31.55%	+8.06%
Max Drawdown (1Y) Largest decline over 1 year	-10.88%	-10.15%	-0.73%
Max Drawdown (3Y) Largest decline over 3 years	-19.82%	-18.53%	-1.29%
Max Drawdown (5Y) Largest decline over 5 years	—	-31.55%	—
Current Drawdown Current decline from peak	-1.89%	-1.20%	-0.69%
Average Drawdown Average peak-to-trough decline	-8.07%	-8.45%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.09%	3.06%	+1.03%

Volatility

MINV vs. ADIV - Volatility Comparison

Matthews Asia Innovators Active ETF (MINV) has a higher volatility of 10.63% compared to SmartETFs Asia Pacific Dividend Builder ETF (ADIV) at 4.35%. This indicates that MINV's price experiences larger fluctuations and is considered to be riskier than ADIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MINV	ADIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.63%	4.35%	+6.28%
Volatility (6M) Calculated over the trailing 6-month period	21.20%	10.54%	+10.66%
Volatility (1Y) Calculated over the trailing 1-year period	25.11%	13.49%	+11.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.74%	16.48%	+7.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.74%	16.37%	+7.37%

MINV vs. ADIV - Expense Ratio Comparison

MINV has a 0.79% expense ratio, which is higher than ADIV's 0.78% expense ratio.

Dividends

MINV vs. ADIV - Dividend Comparison

MINV's dividend yield for the trailing twelve months is around 0.95%, less than ADIV's 2.79% yield.

Position	TTM	2025	2024	2023	2022	2021
ADIV SmartETFs Asia Pacific Dividend Builder ETF	2.79%	2.77%	4.83%	4.55%	2.98%	13.85%
MINV Matthews Asia Innovators Active ETF	0.95%	1.51%	0.25%	1.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MINV and ADIV in my portfolio?

MINV and ADIV have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MINV or ADIV?

MINV has higher volatility (10.63%) compared to ADIV (4.35%). In terms of maximum drawdown, MINV dropped -23.49% vs ADIV's -31.55%.

Which ETF is better, MINV or ADIV?

On 3-year performance, MINV leads with 34.15% vs 17.71% for ADIV. On fees, ADIV is cheaper at 0.78% per year. On volatility, ADIV has been the lower-risk option at 4.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MINV or ADIV?

Over the 3-year period, MINV has performed better with a 34.15% return vs 17.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MINV or ADIV?

ADIV is cheaper with a 0.78% expense ratio, compared with 0.79% for MINV.

Which ETF pays a higher dividend yield, MINV or ADIV?

ADIV has the higher dividend yield at 2.79%, compared with 0.95% for MINV.

What is the main difference between MINV and ADIV?

They also come from different issuers: Matthews and Guinness Atkinson Asset Management. Their fees differ too: 0.79% for MINV and 0.78% for ADIV.

Which has better risk-adjusted returns?

MINV currently has the higher Sharpe Ratio (3.76 vs 1.43), 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.