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MINV vs. THD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MINV vs. THD

Last updated Aug 4, 2026
Documentation

MINV (Matthews Asia Innovators Active ETF) and THD (iShares MSCI Thailand ETF) are both Asia Pacific Equities funds. MINV is actively managed, while THD is passively managed. Over the past 3 years, MINV returned 26.44%/yr vs 5.85%/yr for THD. Their 0.51 correlation means they have sometimes moved together and sometimes differently. MINV charges 0.79%/yr vs 0.59%/yr for THD.

Performance

MINV vs. THD - Performance Comparison

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

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Returns By Period

In the year-to-date period, MINV achieves a 35.22% return, which is significantly higher than THD's 25.13% return.

MINV

1D
0.64%
1M
-11.07%
6M
26.62%
YTD
35.22%
1Y
51.79%
3Y*
26.44%
5Y*
—
10Y*
—
ALL TIME*
18.09%

THD

1D
-0.12%
1M
1.86%
6M
18.50%
YTD
25.13%
1Y
34.70%
3Y*
5.85%
5Y*
3.28%
10Y*
2.88%
ALL TIME*
4.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

MINV

Matthews Asia Innovators Active ETF
$487.81K$407.85K$777.41K

THD

iShares MSCI Thailand ETF
$1.98M$2.36M$5.51M

MINV vs. THD - Yearly Performance Comparison

2026 (YTD)2025202420232022
MINV
Matthews Asia Innovators Active ETF		35.22%30.85%17.32%-2.66%-2.87%
THD
iShares MSCI Thailand ETF		25.13%2.36%-2.21%-12.63%13.86%

Correlation

The correlation between MINV and THD is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.51

Correlation (3Y)
Balances recent behavior with more history.

0.50

Correlation (All Time)
Calculated using the full available price history since Jul 14, 2022

0.51

The correlation between MINV and THD has been stable across timeframes, ranging from 0.50 to 0.51 - a consistent structural relationship.

MINV vs. THD - Sectors Allocation Comparison

Sectors
MINV
THD

Technology

38.0%
1.3%

Industrials

15.3%
30.2%

Consumer Cyclical

10.0%
5.2%

Communication Services

8.5%
9.8%

Healthcare

5.2%
6.4%

Real Estate

1.7%
5.2%

Energy

1.5%
13.0%

Financial Services

1.3%
11.9%

Basic Materials

0.4%
2.8%

Consumer Defensive

-

7.5%

Utilities

-

7.0%

Technology

MINV
38.0%
THD
1.3%

Industrials

MINV
15.3%
THD
30.2%

Consumer Cyclical

MINV
10.0%
THD
5.2%

Communication Services

MINV
8.5%
THD
9.8%

Healthcare

MINV
5.2%
THD
6.4%

Real Estate

MINV
1.7%
THD
5.2%

Energy

MINV
1.5%
THD
13.0%

Financial Services

MINV
1.3%
THD
11.9%

Basic Materials

MINV
0.4%
THD
2.8%

Consumer Defensive

MINV

-

THD
7.5%

Utilities

MINV

-

THD
7.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Matthews Asia Innovators Active ETF

iShares MSCI Thailand ETF

Often compared with MINV:
MINV vs. ADVEMINV vs. MATFXMINV vs. EMSFMINV vs. ASIAMINV vs. ^NDXMINV vs. DXJMINV vs. AAXJ
Often compared with THD:
THD vs. VOOTHD vs. AAXJTHD vs. GQETXTHD vs. GREKTHD vs. SSOTHD vs. BRAZTHD vs. EPU

Return for Risk

MINV vs. THD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
MINV
MINV Risk / Return Rank: 6464
Overall Rank
MINV Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
MINV Sortino Ratio Rank: 6060
Sortino Ratio Rank
MINV Omega Ratio Rank: 6767
Omega Ratio Rank
MINV Calmar Ratio Rank: 6262
Calmar Ratio Rank
MINV Martin Ratio Rank: 6262
Martin Ratio Rank
THD
THD Risk / Return Rank: 6464
Overall Rank
THD Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
THD Sortino Ratio Rank: 6363
Sortino Ratio Rank
THD Omega Ratio Rank: 5858
Omega Ratio Rank
THD Calmar Ratio Rank: 7373
Calmar Ratio Rank
THD Martin Ratio Rank: 6161
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MINV vs. THD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Asia Innovators Active ETF (MINV) and iShares MSCI Thailand ETF (THD). 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.

MINVTHDDifference
Sharpe ratioReturn per unit of total volatility
1.66
1.57

+0.09

Sortino ratioReturn per unit of downside risk
2.16
2.19

-0.03

Omega ratioGain probability vs. loss probability

1.30

1.27

+0.03

Calmar ratioReturn relative to maximum drawdown

2.31

2.66

-0.34

Martin ratioReturn relative to average drawdown

7.87

7.62

+0.25

MINV vs. THD - Sharpe Ratio Comparison

The current MINV Sharpe Ratio is 1.66, which is comparable to the THD Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of MINV and THD, 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

MINV vs. THD - Drawdown Comparison

The maximum MINV drawdown since its inception was -23.49%, smaller than the maximum THD drawdown of -64.22%. Use the drawdown chart below to compare losses from any high point for MINV and THD.

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Drawdown Indicators

MINVTHDDifference

Max Drawdown

Largest peak-to-trough decline

-23.49%

-64.22%

+40.73%

Max Drawdown (1Y)

Largest decline over 1 year

-22.49%

-13.12%

-9.37%

Max Drawdown (3Y)

Largest decline over 3 years

-22.49%

-34.11%

+11.62%

Max Drawdown (5Y)

Largest decline over 5 years

—

-40.24%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-49.32%

—

Current Drawdown

Current decline from peak

-19.65%

-8.11%

-11.54%

Average Drawdown

Average peak-to-trough decline

-8.19%

-18.19%

+10.00%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.60%

4.56%

+2.04%

Volatility

MINV vs. THD - Volatility Comparison

Matthews Asia Innovators Active ETF (MINV) has a higher volatility of 10.36% compared to iShares MSCI Thailand ETF (THD) at 4.28%. This indicates that MINV's price experiences larger fluctuations and is considered to be riskier than THD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MINVTHDDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.36%

4.28%

+6.08%

Volatility (6M)

Calculated over the trailing 6-month period

28.03%

18.21%

+9.82%

Volatility (1Y)

Calculated over the trailing 1-year period

31.39%

22.25%

+9.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.20%

20.01%

+5.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.20%

21.57%

+3.63%

MINV vs. THD - Expense Ratio Comparison

MINV has a 0.79% expense ratio, which is higher than THD's 0.59% expense ratio.

Dividends

MINV vs. THD - Dividend Comparison

MINV's dividend yield for the trailing twelve months is around 1.12%, less than THD's 3.46% yield.

PositionTTM20252024202320222021202020192018201720162015
MINV
Matthews Asia Innovators Active ETF		1.12%1.51%0.25%1.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
THD
iShares MSCI Thailand ETF		3.46%3.36%3.15%2.92%2.41%3.16%2.31%2.42%2.57%2.16%2.61%3.58%

Frequently Asked Questions

MINV and THD have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MINV has higher volatility (10.36%) compared to THD (4.28%). In terms of maximum drawdown, MINV dropped -23.49% vs THD's -64.22%.

On 3-year performance, MINV leads with 26.44% vs 5.85% for THD. On fees, THD is cheaper at 0.59% per year. On volatility, THD has been the lower-risk option at 4.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, MINV has performed better with a 26.44% return vs 5.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

THD is cheaper with a 0.59% expense ratio, compared with 0.79% for MINV.

THD has the higher dividend yield at 3.46%, compared with 1.12% for MINV.

They also come from different issuers: Matthews and iShares. Their fees differ too: 0.79% for MINV and 0.59% for THD.

MINV currently has the higher Sharpe Ratio (1.66 vs 1.57), 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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