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MEMX

GradeDNew York Stock Exchange Arca

Matthews Emerging Markets ex China Active ETF MEMX

Active Equity · Matthews Asia · Inception 2023-01-10

$48.81−0.88 (−1.76%)

As of Sep 23, 2026, 11:35 AM EDT

History starts Jan 11, 2023.
Intraday session: down, 4 prints from 49.69 to 48.81. Range 48.81 to 49.69. Use the arrow keys to read each point.$49.00$49.20$49.40$49.6010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$57M
1Y return
+48.6%
Yield · Last 12 months
3.68%
Volume · 30D
0M sh
NAV per share
$47.77
52W range
low $34.39high $51.52

The ETF.net MEMX Grade

D

31/ 100

Rank 24 of 28 in Emerging Markets Active Equity⁠

Confidence Medium

Six-pillar profile for MEMX. Scores out of 100: Cost 24, Risk 43, Mission not scored, Tradability 20, Holdings 52, Durability 41. Strongest: Holdings (52). Weakest: Tradability (20). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 31 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 24
    Category rank22/28 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 43
    Category rank23/28 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 20
    Category rank24/28 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 52
    Category rank15/26 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 41
    Category rank20/28 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on MEMX

ETF.net Research

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

  1. 01The 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.
  2. 02Active by design. Managers choose the holdings rather than replicate the MSCI Emerging Markets ex China Index, which serves as the yardstick.
  3. 03Run 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

  1. 010.79% 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%.
  2. 02Thinly traded and modest in size, so spreads and order type matter more here than in the category's largest funds.
  3. 03Leaving China out cuts both ways: returns can drift a long way from a standard emerging-markets fund in either direction.

MEMX Holdings

As of Sep 20, 2026, 8:54 AM
Asset class
Stocks
Holdings
—
Top-10 weight
42%
Largest holding
2330.TW9.8%

Sectors

  • Technology44.7%
  • Financials24.7%
  • Consumer Discr.8.4%
  • Industrials8.1%
  • Materials4.8%
  • Health Care2.7%
  • Communication1.9%
  • Energy1.7%
  • Cons. Staples1.3%
  • Utilities1.0%
  • Real Estate0.9%

Geography

  • South Korea30.09%
  • Taiwan29.33%
  • India10.71%
  • Brazil5.10%
  • South Africa5.04%
  • Peru2.65%
  • Vietnam2.19%
  • Philippines2.08%
  • Other countries (9)12.81%

Developed 2% · Emerging 98% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 6.
#TickerCompanyWeight %SharesMarket valueIn ETFs
0012330.TWTAIWAN SEMICONDUCTOR MANUFACTURING CO., LTD. ADR9.77%12,665$6M175
002005930.KSSAMSUNG ELECTRONICS CO., LTD.9.06%27,051$5M176
0032330.TWTAIWAN SEMICONDUCTOR MANUFACTURING CO., LTD.5.22%38,000$3M175
004000660.KSSK HYNIX, INC.4.33%1,818$2M184
005—CASH AND OTHERS3.61%0$2M12
0062454.TWMEDIATEK, INC.3.16%12,000$2M162
0072317.TWHON HAI PRECISION INDUSTRY CO., LTD.1.93%138,000$1M114
008402340.KSSK SQUARE CO., LTD.1.71%1,237$966K111
0090R2O.ILFREEPORT-MCMORAN, INC.1.67%13,177$943K2
0103711.TWASE TECHNOLOGY HOLDING CO., LTD.1.57%44,000$884K115
011BVNCIA DE MINAS BUENAVENTURA SAA ADR1.56%25,568$878K74
012000810.KSSAMSUNG FIRE & MARINE INSURANCE CO., LTD.1.53%1,836$861K94
0132382.TWQUANTA COMPUTER, INC.1.44%75,000$810K109
014028050.KSSAMSUNG E&A CO., LTD.1.33%19,996$749K61
015105560.KSKB FINANCIAL GROUP, INC.1.31%5,833$738K99

Showing 1–15 of 79 holdings

MEMX Performance

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

MEMX$14,864
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. MEMX $14,864. SPY $11,723. Use the arrow keys to read each point.$9,062$12,464$15,867Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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+32.8%
1 month+3.9%
3 months−3.5%
1 year+48.6%
3 years+27.6%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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+32.8%
2025+35.7%
2024+5.5%
2023+10.5%

History from Jan 11, 2023

MEMX in the news

ETF.net Research hasn’t filed on MEMX yet — coverage lands here as it’s written.

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 Sep 22, 2026.
3.68%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

MEMX Risk

How much the fund’s monthly returns vary, scaled to a year.
18.6%
Annualised · 36 months to Aug 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.
1.04
vs 3-month T-bills · to Aug 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%
44 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.
1.22
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.

MEMX Cost

Expense ratio0.79%
  • The middle half of Emerging Markets Active Equity funds
  • Median 0.65%

19 of the 27 Emerging Markets Active Equity funds charge less.

MEMX costs $79.00 a year on $10,000. The median Emerging Markets Active Equity fund costs $65.00.