MMKT vs. ADVE

Last updated Jun 4, 2026

MMKT (Texas Capital Government Money Market ETF) and ADVE (Matthews Asia Dividend Active ETF) are both exchange-traded funds - MMKT is a Money Market fund actively managed by Texas Capital, while ADVE is a Asia Pacific Equities fund actively managed by Matthews. Both are actively managed. Over the past year, MMKT returned 3.81% vs 41.86% for ADVE. At a correlation of -0.06, they often move in opposite directions. MMKT charges 0.20%/yr vs 0.79%/yr for ADVE.

Performance

MMKT vs. ADVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Texas Capital Government Money Market ETF (MMKT) 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, MMKT achieves a 1.44% return, which is significantly lower than ADVE's 21.50% return.

MMKT

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.44%
• 6M: 1.76%
• 1Y: 3.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ADVE

• 1D: -0.63%
• 1M: 5.23%
• YTD: 21.50%
• 6M: 23.40%
• 1Y: 41.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MMKT vs. ADVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MMKT Texas Capital Government Money Market ETF	1.44%	4.13%	1.21%
ADVE Matthews Asia Dividend Active ETF	21.50%	26.12%	-5.71%

Correlation

The correlation between MMKT and ADVE is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.18
Correlation (All Time) Calculated using the full available price history since Sep 26, 2024	-0.06

The correlation between MMKT and ADVE shifts across timeframes, from -0.18 (1 year) to -0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MMKT vs. ADVE — Risk / Return Rank

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

MMKT

MMKT Risk / Return Rank: 100
MMKT Sharpe Ratio Rank: 100
MMKT Sortino Ratio Rank: 100
MMKT Omega Ratio Rank: 100
MMKT Calmar Ratio Rank: 100
MMKT Martin Ratio Rank: 100

ADVE

ADVE Risk / Return Rank: 76
ADVE Sharpe Ratio Rank: 77
ADVE Sortino Ratio Rank: 77
ADVE Omega Ratio Rank: 79
ADVE Calmar Ratio Rank: 72
ADVE Martin Ratio Rank: 75

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.

MMKT vs. ADVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Texas Capital Government Money Market ETF (MMKT) 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.

	MMKT	ADVE	Difference
Sharpe ratio: Return per unit of total volatility	16.49	2.49	+13.99
Sortino ratio: Return per unit of downside risk	62.61	3.47	+59.14
Omega ratio: Gain probability vs. loss probability	15.14	1.47	+13.67
Calmar ratio: Return relative to maximum drawdown	153.44	3.59	+149.85
Martin ratio: Return relative to average drawdown	910.67	14.23	+896.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MMKT vs. ADVE - Sharpe Ratio Comparison

The current MMKT Sharpe Ratio is 16.49, which is higher than the ADVE Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of MMKT 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.

Sharpe Ratios by Period

	MMKT	ADVE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	16.49	2.49	+13.99
Sharpe Ratio (All Time) Calculated using the full available price history	17.60	1.44	+16.16

Drawdowns

MMKT vs. ADVE - Drawdown Comparison

The maximum MMKT drawdown since its inception was -0.04%, smaller than the maximum ADVE drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for MMKT and ADVE.

Drawdown Indicators

	MMKT	ADVE	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-18.41%	+18.37%
Max Drawdown (1Y) Largest decline over 1 year	-0.02%	-11.73%	+11.71%
Current Drawdown Current decline from peak	0.00%	-0.63%	+0.63%
Average Drawdown Average peak-to-trough decline	-0.00%	-3.15%	+3.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	2.95%	-2.95%

Volatility

MMKT vs. ADVE - Volatility Comparison

The current volatility for Texas Capital Government Money Market ETF (MMKT) is 0.05%, while Matthews Asia Dividend Active ETF (ADVE) has a volatility of 5.98%. This indicates that MMKT experiences smaller price fluctuations and is considered to be less risky than ADVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMKT	ADVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.05%	5.98%	-5.93%
Volatility (6M) Calculated over the trailing 6-month period	0.13%	14.42%	-14.29%
Volatility (1Y) Calculated over the trailing 1-year period	0.23%	16.89%	-16.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.23%	15.68%	-15.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.23%	15.68%	-15.45%

MMKT vs. ADVE - Expense Ratio Comparison

MMKT has a 0.20% expense ratio, which is lower than ADVE's 0.79% expense ratio.

Dividends

MMKT vs. ADVE - Dividend Comparison

MMKT's dividend yield for the trailing twelve months is around 3.73%, more than ADVE's 2.46% yield.

Position	TTM	2025	2024	2023
ADVE Matthews Asia Dividend Active ETF	2.46%	2.97%	6.00%	0.37%
MMKT Texas Capital Government Money Market ETF	3.73%	3.98%	1.07%	0.00%

Frequently Asked Questions

Can I hold both MMKT and ADVE in my portfolio?

MMKT and ADVE have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MMKT or ADVE?

ADVE has higher volatility (5.98%) compared to MMKT (0.05%). In terms of maximum drawdown, MMKT dropped -0.04% vs ADVE's -18.41%.

Which ETF is better, MMKT or ADVE?

On 1-year performance, ADVE leads with 41.86% vs 3.81% for MMKT. On fees, MMKT is cheaper at 0.20% per year. On volatility, MMKT has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MMKT or ADVE?

Over the 1-year period, ADVE has performed better with a 41.86% return vs 3.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MMKT or ADVE?

MMKT is cheaper with a 0.20% expense ratio, compared with 0.79% for ADVE.

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

MMKT has the higher dividend yield at 3.73%, compared with 2.46% for ADVE.

What is the main difference between MMKT and ADVE?

MMKT is categorized as Money Market, while ADVE is Asia Pacific Equities. They also come from different issuers: Texas Capital and Matthews. Their fees differ too: 0.20% for MMKT and 0.79% for ADVE.

Which has better risk-adjusted returns?

MMKT currently has the higher Sharpe Ratio (16.49 vs 2.49), 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.