MINV vs. MEM

Last updated Jun 23, 2026

MINV (Matthews Asia Innovators Active ETF) and MEM (Matthews Emerging Markets Equity Active ETF) are both exchange-traded funds - MINV is a Asia Pacific Equities fund actively managed by Matthews, while MEM is a Emerging Markets Diversified fund actively managed by Matthews. Both are actively managed. Over the past 3 years, MINV returned 37.52%/yr vs 24.32%/yr for MEM. Their correlation of 0.87 suggests significant overlap in exposure. Both charge a 0.79% expense ratio.

Performance

MINV vs. MEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Asia Innovators Active ETF (MINV) and Matthews Emerging Markets Equity Active ETF (MEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MINV achieves a 68.29% return, which is significantly higher than MEM's 32.34% return.

MINV

• 1D: 1.26%
• 1M: 12.75%
• YTD: 68.29%
• 6M: 69.95%
• 1Y: 102.33%
• 3Y*: 37.52%
• 5Y*: —
• 10Y*: —

MEM

• 1D: 0.66%
• 1M: 8.84%
• YTD: 32.34%
• 6M: 34.02%
• 1Y: 56.17%
• 3Y*: 24.32%
• 5Y*: —
• 10Y*: —

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

MINV vs. MEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MINV Matthews Asia Innovators Active ETF	68.29%	30.85%	17.32%	-2.66%	-2.87%
MEM Matthews Emerging Markets Equity Active ETF	32.34%	28.31%	10.11%	6.92%	7.13%

Correlation

The correlation between MINV and MEM is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jul 14, 2022	0.87

The correlation between MINV and MEM has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

Return for Risk

MINV vs. MEM — Risk / Return Rank

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

MINV

MINV Risk / Return Rank: 94
MINV Sharpe Ratio Rank: 95
MINV Sortino Ratio Rank: 92
MINV Omega Ratio Rank: 93
MINV Calmar Ratio Rank: 97
MINV Martin Ratio Rank: 93

MEM

MEM Risk / Return Rank: 77
MEM Sharpe Ratio Rank: 80
MEM Sortino Ratio Rank: 75
MEM Omega Ratio Rank: 79
MEM Calmar Ratio Rank: 78
MEM Martin Ratio Rank: 74

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. MEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Asia Innovators Active ETF (MINV) and Matthews Emerging Markets Equity Active ETF (MEM). 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.

	MINV	MEM	Difference
Sharpe ratio: Return per unit of total volatility	3.68	2.48	+1.21
Sortino ratio: Return per unit of downside risk	4.26	3.22	+1.05
Omega ratio: Gain probability vs. loss probability	1.62	1.45	+0.17
Calmar ratio: Return relative to maximum drawdown	9.43	3.86	+5.57
Martin ratio: Return relative to average drawdown	23.79	13.61	+10.19

MINV vs. MEM - Sharpe Ratio Comparison

The current MINV Sharpe Ratio is 3.68, which is higher than the MEM Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of MINV and MEM, 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

MINV vs. MEM - Drawdown Comparison

The maximum MINV drawdown since its inception was -23.49%, which is greater than MEM's maximum drawdown of -19.10%. Use the drawdown chart below to compare losses from any high point for MINV and MEM.

Drawdown Indicators

	MINV	MEM	Difference
Max Drawdown Largest peak-to-trough decline	-23.49%	-19.10%	-4.39%
Max Drawdown (1Y) Largest decline over 1 year	-10.91%	-14.62%	+3.71%
Max Drawdown (3Y) Largest decline over 3 years	-19.82%	-19.10%	-0.72%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.03%	-4.72%	-3.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.32%	4.14%	+0.18%

Volatility

MINV vs. MEM - Volatility Comparison

Matthews Asia Innovators Active ETF (MINV) has a higher volatility of 14.71% compared to Matthews Emerging Markets Equity Active ETF (MEM) at 11.28%. This indicates that MINV's price experiences larger fluctuations and is considered to be riskier than MEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MINV	MEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.71%	11.28%	+3.43%
Volatility (6M) Calculated over the trailing 6-month period	24.54%	20.43%	+4.11%
Volatility (1Y) Calculated over the trailing 1-year period	28.01%	22.84%	+5.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.48%	18.88%	+5.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.48%	18.88%	+5.60%

MINV vs. MEM - Expense Ratio Comparison

Both MINV and MEM have an expense ratio of 0.79%.

Dividends

MINV vs. MEM - Dividend Comparison

MINV's dividend yield for the trailing twelve months is around 0.90%, less than MEM's 2.69% yield.

Position	TTM	2025	2024	2023	2022
MEM Matthews Emerging Markets Equity Active ETF	2.69%	3.56%	7.81%	0.01%	0.53%
MINV Matthews Asia Innovators Active ETF	0.90%	1.51%	0.25%	1.00%	0.00%

Frequently Asked Questions

Can I hold both MINV and MEM in my portfolio?

MINV and MEM have a correlation of 0.88, 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 MEM?

MINV has higher volatility (14.71%) compared to MEM (11.28%). In terms of maximum drawdown, MINV dropped -23.49% vs MEM's -19.10%.

Which ETF is better, MINV or MEM?

On 3-year performance, MINV leads with 37.52% vs 24.32% for MEM. Both ETFs have the same 0.79% expense ratio. On volatility, MEM has been the lower-risk option at 11.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MINV or MEM?

Over the 3-year period, MINV has performed better with a 37.52% return vs 24.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MINV or MEM?

MINV and MEM have the same expense ratio: 0.79% per year.

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

MEM has the higher dividend yield at 2.69%, compared with 0.90% for MINV.

What is the main difference between MINV and MEM?

MINV is categorized as Asia Pacific Equities, while MEM is Emerging Markets Diversified.

Which has better risk-adjusted returns?

MINV currently has the higher Sharpe Ratio (3.68 vs 2.48), 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.