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Launched

Matthews Emerging Markets ex China Active ETF MEMX

MEMXNYSE ArcaMatthews AsiaD

$42.78−0.25 (−0.58%)

As of Nov 2, 2026, 2:52 PM ET

D29/ 100

Rank 23 of 27 in Emerging Markets Active Equity

D29/100Rank 23 of 27inEmerging Markets Active Equity
Intraday session: down, 60 prints from 43.03 to 42.78. Range 42.67 to 43.38. Use the arrow keys to read each point.43.2043.4010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$51M
1Y total return
+21.2%
Yield · Last 12 months
4.28%
Holdings
79
Avg volume · 30D
3.08K sh
52W range
low $35.34high $51.52
Launched

The ETF.net MEMX Grade

Based on 5 of 6 pillars

D

Score 29 out of 100

Category
Emerging Markets Active Equity⁠
Rank
23 of 27
Six-pillar profile for MEMX. Scores out of 100: Cost 15, Risk 42, Mission not scored, Tradability 28, Holdings 51, Durability 42. Strongest: Holdings (51). Weakest: Cost (15). Based on 5 of 6 pillars.

Score 29 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F15 out of 100
    Rank 22 of 27

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C42 out of 100
    Rank 22 of 27

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D28 out of 100
    Rank 21 of 27

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C51 out of 100
    Rank 13 of 25

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C42 out of 100
    Rank 19 of 27

Our read on MEMX

ETF.net Research

In short

DMost emerging-markets funds come with China baked in. MEMX takes it out by charter, putting at least 80% of assets in emerging-market stocks outside China and handing the picks to active managers at Asia specialist Matthews.

Stated mandate

The fund seeks its objective by investing at least 80% of net assets in common and preferred stocks of companies located in emerging-market countries other than China.

Why people hold it

  • The China carve-out is written into the prospectus: at least 80% of net assets in common and preferred stocks of emerging-market companies outside China.
  • Active by design. Managers choose the holdings rather than replicate the MSCI Emerging Markets ex China Index, which serves as the yardstick.
  • Run by Matthews Asia, a boutique built around Asia and emerging markets, not a broad-lineup shop filling a hole in its menu. Launched in 2023.

Worth knowing

  • 0.79% a year sits above the roughly 0.65% median for active EM peers, and far above index-based ex-China options such as AVXC at 0.33%.
  • Thinly traded and modest in size, so spreads and order type matter more here than in the category's largest funds.
  • Leaving China out cuts both ways: returns can drift a long way from a standard emerging-markets fund in either direction.

MEMX Performance

Launched Jan 10, 2023

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
MEMX$12,123
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. MEMX $12,123. SPY $11,199. Use the arrow keys to read each point.$10,000$12,000$14,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for MEMX. Periods over one year show the average yearly return.
PeriodMEMX
Year to date+14.0%
1 month−10.9%
3 months−5.2%
1 year+21.2%
3 yearsper year+23.6%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for MEMX
YearReturn barMEMX
2026 YTD+14.0%
2025+35.7%
2024+5.5%
2023+10.5%

History from Jan 11, 2023

MEMX in the news

MEMX Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
4.28%Last 12 months
Payout per share
$1.83Last 12 months
Last payment
$1.83 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2023–2026

One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 14, 2023 $0.31; Dec 18, 2024 $0.29; Dec 17, 2025 $1.83. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Dec 17, 2025Dec 22, 2025$1.83
Dec 18, 2024Dec 23, 2024$0.29
Dec 14, 2023Dec 21, 2023$0.31

$10,000 in MEMX 3 years ago paid $952 in dividends.

MEMX Risk

Risk pillarC42 out of 100Rank 22 of 27 in Emerging Markets Active Equity
How much the fund’s monthly returns vary, scaled to a year.
19.4%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.96
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−19.2%
45 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.20
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

MEMX Cost

Compare MEMX and AVEM

Overpaying vs AVEM, tied cheapest in Emerging Markets Active Equity

$8,437

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • MEMX 0.79%

    $15,174

  • AVEM 0.33% Tied cheapest

    $6,737

$10,000
30 years

Cost over time

  • MEMX 0.79%
  • AVEM 0.33%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530MEMX $15,174AVEM $6,737

Year by year

YearMEMXAVEMOverpaying
10$1,405$598$807
20$5,331$2,318$3,013
30$15,174$6,737$8,437

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