MKOR vs. KMCA

Last updated Jul 17, 2026

MKOR (Matthews Korea Active ETF) and KMCA (PLUS Korea Manufacturing Core Alliance Index ETF) are both South Korea Equities funds. MKOR is actively managed, while KMCA is passively managed. Their correlation of 0.92 suggests significant overlap in exposure. MKOR charges 0.79%/yr vs 0.65%/yr for KMCA.

Performance

MKOR vs. KMCA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Korea Active ETF (MKOR) and PLUS Korea Manufacturing Core Alliance Index ETF (KMCA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MKOR

• 1D: -3.80%
• 1M: -17.01%
• 6M: 46.60%
• YTD: 64.92%
• 1Y: 106.40%
• 3Y*: 32.29%
• 5Y*: —
• 10Y*: —

KMCA

• 1D: -3.57%
• 1M: -25.38%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MKOR vs. KMCA - Yearly Performance Comparison

	2026 (YTD)
MKOR Matthews Korea Active ETF	-10.22%
KMCA PLUS Korea Manufacturing Core Alliance Index ETF	-23.16%

Correlation

The correlation between MKOR and KMCA is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 7, 2026	0.92

Return for Risk

MKOR vs. KMCA — Risk / Return Rank

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

MKOR

MKOR Risk / Return Rank: 87
MKOR Sharpe Ratio Rank: 91
MKOR Sortino Ratio Rank: 79
MKOR Omega Ratio Rank: 84
MKOR Calmar Ratio Rank: 93
MKOR Martin Ratio Rank: 90

KMCA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

MKOR vs. KMCA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Korea Active ETF (MKOR) and PLUS Korea Manufacturing Core Alliance Index ETF (KMCA). 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	KMCA	Difference
Sharpe ratio: Return per unit of total volatility	2.46	—	—
Sortino ratio: Return per unit of downside risk	2.81	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	5.19	—	—
Martin ratio: Return relative to average drawdown	16.22	—	—

Drawdowns

MKOR vs. KMCA - Drawdown Comparison

The maximum MKOR drawdown since its inception was -22.09%, smaller than the maximum KMCA drawdown of -28.52%. Use the drawdown chart below to compare losses from any high point for MKOR and KMCA.

Drawdown Indicators

	MKOR	KMCA	Difference
Max Drawdown Largest peak-to-trough decline	-22.09%	-28.52%	+6.43%
Max Drawdown (1Y) Largest decline over 1 year	-20.62%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-22.09%	—	—
Current Drawdown Current decline from peak	-19.99%	-28.52%	+8.53%
Average Drawdown Average peak-to-trough decline	-6.42%	-11.06%	+4.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.59%	—	—

Volatility

Volatility by Period

	MKOR	KMCA	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	40.71%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	43.45%	75.07%	-31.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.89%	75.07%	-45.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.89%	75.07%	-45.18%

MKOR vs. KMCA - Expense Ratio Comparison

MKOR has a 0.79% expense ratio, which is higher than KMCA's 0.65% expense ratio.

Dividends

MKOR vs. KMCA - Dividend Comparison

MKOR's dividend yield for the trailing twelve months is around 1.59%, while KMCA has not paid dividends to shareholders.

Position	TTM	2025	2024
KMCA PLUS Korea Manufacturing Core Alliance Index ETF	0.00%	0.00%	0.00%
MKOR Matthews Korea Active ETF	1.59%	2.62%	5.28%

Frequently Asked Questions

Can I hold both MKOR and KMCA in my portfolio?

With a correlation of 0.92, MKOR and KMCA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, MKOR or KMCA?

On fees, KMCA is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MKOR or KMCA?

KMCA is cheaper with a 0.65% expense ratio, compared with 0.79% for MKOR.

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

MKOR has the higher dividend yield at 1.59%, compared with 0.00% for KMCA.

What is the main difference between MKOR and KMCA?

They also come from different issuers: Matthews and PLUS. Their fees differ too: 0.79% for MKOR and 0.65% for KMCA.