MKOR vs. ADVE

Last updated Aug 2, 2026

MKOR (Matthews Korea Active ETF) and ADVE (Matthews Asia Dividend Active ETF) are both exchange-traded funds - MKOR is a South Korea Equities fund actively managed by Matthews, while ADVE is a Asia Pacific Equities fund actively managed by Matthews. Both are actively managed. Over the past year, MKOR returned 103.69% vs 31.66% for ADVE. Their 0.71 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.79% expense ratio.

Performance

MKOR vs. ADVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Korea Active ETF (MKOR) and Matthews Asia Dividend Active ETF (ADVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MKOR achieves a 55.62% return, which is significantly higher than ADVE's 16.97% return.

MKOR

• 1D: -0.76%
• 1M: -12.41%
• 6M: 23.47%
• YTD: 55.62%
• 1Y: 103.69%
• 3Y*: 29.91%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 29.17%

ADVE

• 1D: -0.99%
• 1M: 1.67%
• 6M: 9.15%
• YTD: 16.97%
• 1Y: 31.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.19%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ADVE Matthews Asia Dividend Active ETF	$23.63K	$20.43K	$28.96K
MKOR Matthews Korea Active ETF	$718.06K	$1.21M	$1.53M

MKOR vs. ADVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MKOR Matthews Korea Active ETF	55.62%	70.33%	-15.76%	8.28%
ADVE Matthews Asia Dividend Active ETF	16.97%	26.12%	7.02%	4.58%

Correlation

The correlation between MKOR and ADVE is 0.80, 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.	0.80
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023	0.71

The correlation between MKOR and ADVE has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.

MKOR vs. ADVE - Sectors Allocation Comparison

Sectors	MKOR	ADVE
Technology	51.5%	30.8%
Industrials	24.6%	11.5%
Financial Services	10.1%	28.9%
Consumer Cyclical	6.8%	5.9%
Communication Services	2.4%	10.7%
Consumer Defensive	1.7%	2.6%
Healthcare	1.6%	1.0%
Basic Materials	1.4%	3.8%
Energy	0.7%	0.8%
Utilities	0.6%	1.0%
Real Estate	-	3.2%

Return for Risk

MKOR vs. ADVE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MKOR

MKOR Risk / Return Rank: 85
MKOR Sharpe Ratio Rank: 89
MKOR Sortino Ratio Rank: 80
MKOR Omega Ratio Rank: 83
MKOR Calmar Ratio Rank: 86
MKOR Martin Ratio Rank: 86

ADVE

ADVE Risk / Return Rank: 71
ADVE Sharpe Ratio Rank: 68
ADVE Sortino Ratio Rank: 67
ADVE Omega Ratio Rank: 72
ADVE Calmar Ratio Rank: 75
ADVE Martin Ratio Rank: 72

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.

MKOR vs. ADVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Korea Active ETF (MKOR) and Matthews Asia Dividend Active ETF (ADVE). 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.

	MKOR	ADVE	Difference
Sharpe ratio: Return per unit of total volatility	2.17	1.57	+0.60
Sortino ratio: Return per unit of downside risk	2.59	2.22	+0.37
Omega ratio: Gain probability vs. loss probability	1.35	1.30	+0.06
Calmar ratio: Return relative to maximum drawdown	3.34	2.63	+0.71
Martin ratio: Return relative to average drawdown	12.22	8.94	+3.28

MKOR vs. ADVE - Sharpe Ratio Comparison

The current MKOR Sharpe Ratio is 2.17, which is higher than the ADVE Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of MKOR and ADVE, 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

MKOR vs. ADVE - Drawdown Comparison

The maximum MKOR drawdown since its inception was -29.42%, which is greater than ADVE's maximum drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for MKOR and ADVE.

Drawdown Indicators

	MKOR	ADVE	Difference
Max Drawdown Largest peak-to-trough decline	-29.42%	-18.41%	-11.01%
Max Drawdown (1Y) Largest decline over 1 year	-29.42%	-11.73%	-17.69%
Max Drawdown (3Y) Largest decline over 3 years	-29.42%	—	—
Current Drawdown Current decline from peak	-24.50%	-4.34%	-20.16%
Average Drawdown Average peak-to-trough decline	-6.64%	-3.24%	-3.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.02%	3.44%	+4.58%

Volatility

MKOR vs. ADVE - Volatility Comparison

Matthews Korea Active ETF (MKOR) has a higher volatility of 16.44% compared to Matthews Asia Dividend Active ETF (ADVE) at 6.53%. This indicates that MKOR's price experiences larger fluctuations and is considered to be riskier than ADVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MKOR	ADVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.44%	6.53%	+9.91%
Volatility (6M) Calculated over the trailing 6-month period	42.19%	17.43%	+24.76%
Volatility (1Y) Calculated over the trailing 1-year period	45.23%	19.66%	+25.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.56%	16.51%	+14.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.56%	16.51%	+14.05%

MKOR vs. ADVE - Expense Ratio Comparison

Both MKOR and ADVE have an expense ratio of 0.79%.

Dividends

MKOR vs. ADVE - Dividend Comparison

MKOR's dividend yield for the trailing twelve months is around 1.69%, less than ADVE's 2.20% yield.

Position	TTM	2025	2024	2023
ADVE Matthews Asia Dividend Active ETF	2.20%	2.97%	6.00%	0.37%
MKOR Matthews Korea Active ETF	1.69%	2.62%	5.28%	0.00%

Frequently Asked Questions

Can I hold both MKOR and ADVE in my portfolio?

MKOR and ADVE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MKOR or ADVE?

MKOR has higher volatility (16.44%) compared to ADVE (6.53%). In terms of maximum drawdown, MKOR dropped -29.42% vs ADVE's -18.41%.

Which ETF is better, MKOR or ADVE?

On 1-year performance, MKOR leads with 103.69% vs 31.66% for ADVE. Both ETFs have the same 0.79% expense ratio. On volatility, ADVE has been the lower-risk option at 6.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MKOR or ADVE?

Over the 1-year period, MKOR has performed better with a 103.69% return vs 31.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MKOR or ADVE?

MKOR and ADVE have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, MKOR or ADVE?

ADVE has the higher dividend yield at 2.20%, compared with 1.69% for MKOR.

What is the main difference between MKOR and ADVE?

MKOR is categorized as South Korea Equities, while ADVE is Asia Pacific Equities.

Which has better risk-adjusted returns?

MKOR currently has the higher Sharpe Ratio (2.17 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.