MJFOX vs. MCDFX

Last updated Apr 1, 2026

Compare and contrast key facts about Matthews Japan Fund (MJFOX) and Matthews China Dividend Fund (MCDFX).

MJFOX is managed by Matthews. It was launched on Dec 30, 1998. MCDFX is managed by Matthews. It was launched on Nov 29, 2009.

Performance

MJFOX vs. MCDFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Japan Fund (MJFOX) and Matthews China Dividend Fund (MCDFX). The values are adjusted to include any dividend payments, if applicable.

MJFOX vs. MCDFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MJFOX Matthews Japan Fund	-1.91%	22.72%	16.31%	25.79%	-27.84%	-5.79%	29.80%	26.08%	-20.12%	33.22%
MCDFX Matthews China Dividend Fund	5.60%	29.41%	14.93%	-20.68%	-16.72%	-0.60%	26.88%	15.03%	-9.93%	37.52%

Returns By Period

MJFOX

• 1D: -0.08%
• 1M: -14.22%
• YTD: -1.91%
• 6M: 1.35%
• 1Y: 19.54%
• 3Y*: 17.66%
• 5Y*: 4.82%
• 10Y*: 7.88%

MCDFX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MJFOX vs. MCDFX - Expense Ratio Comparison

MJFOX has a 1.05% expense ratio, which is lower than MCDFX's 1.20% expense ratio.

MCDFX

Matthews China Dividend Fund

MJFOX

Matthews Japan Fund

Return for Risk

MJFOX vs. MCDFX — Risk / Return Rank

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

MJFOX

MJFOX Risk / Return Rank: 41
MJFOX Sharpe Ratio Rank: 39
MJFOX Sortino Ratio Rank: 43
MJFOX Omega Ratio Rank: 36
MJFOX Calmar Ratio Rank: 46
MJFOX 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.

MJFOX vs. MCDFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Japan Fund (MJFOX) and Matthews China Dividend Fund (MCDFX). 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.

	MJFOX	MCDFX	Difference
Sharpe ratio Return per unit of total volatility	0.84	—	—
Sortino ratio Return per unit of downside risk	1.30	—	—
Omega ratio Gain probability vs. loss probability	1.17	—	—
Calmar ratio Return relative to maximum drawdown	1.16	—	—
Martin ratio Return relative to average drawdown	4.14	—	—
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

	MJFOX	MCDFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.84	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	—	—

Correlation

The correlation between MJFOX and MCDFX is 0.46, 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.

Dividends

MJFOX vs. MCDFX - Dividend Comparison

MJFOX's dividend yield for the trailing twelve months is around 2.00%, less than MCDFX's 3.84% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MJFOX Matthews Japan Fund	2.00%	1.96%	2.12%	6.09%	7.19%	8.08%	10.15%	8.63%	4.14%	3.90%	1.15%	0.00%
MCDFX Matthews China Dividend Fund	3.84%	4.05%	3.97%	4.08%	5.56%	10.35%	3.91%	1.60%	11.25%	9.52%	3.38%	6.42%

Drawdowns

Drawdown Indicators

	MJFOX	MCDFX	Difference
Max Drawdown Largest peak-to-trough decline	-63.52%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-14.53%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-42.85%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.85%	—	—
Current Drawdown Current decline from peak	-14.53%	—	—
Average Drawdown Average peak-to-trough decline	-21.37%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.06%	—	—

Volatility

Volatility by Period

	MJFOX	MCDFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.26%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.33%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.97%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.16%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.73%	—	—