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MEMS vs PEMX

Matthews Emerging Markets Discovery Active ETF MEMS

MEMSDNasdaq

Putnam Emerging Markets Ex-China ETF

PEMXCNYSE Arca

Overlap

Expense ratio

PEMX −0.19pt a year

MEMS0.89%PEMX0.70%

Avg volume · 30D

PEMX 1.3×the volume

MEMS1.07KPEMX1.41K

MEMS vs PEMX Performance

Oct 31, 2025 – Oct 30, 2026

+1.6%MEMS+23.2%PEMX

Oct 31, 2025 to Oct 30, 2026. MEMS +1.6%. PEMX +23.2%. Use the arrow keys to read each point.−10%10%30%40%50%Oct 2025Apr 2026Oct 2026
Expense ratio
MEMS 0.89%
PEMX 0.70%, better
Fund size
MEMS $20M
PEMX $30M
1Y total return
MEMS +1.6%
PEMX +23.2%, better
Yield (12M)
MEMS 2.65%
PEMX 5.83%, better
Holdings
MEMS 82
PEMX 55
Avg volume (30D)
MEMS 1.07K sh
PEMX 1.41K sh, better
NAV per share
MEMS $28.09
PEMX $78.33
52W range

ETF.net Grade

MEMS: Cost 17, Risk 46, Mission not scored, Tradability 28, Holdings 78, Durability 47. PEMX: Cost 58, Risk 52, Mission 100, Tradability 19, Holdings 43, Durability 63.
Pillar letters and Scores for MEMS, PEMX, with each pillar’s weight
PillarMEMSPEMX
Cost30% weightF17B58Higher
Mission25% weightNot scoredA100
Risk15% weightC46C52Higher
Tradability15% weightD28HigherF19
Holdings10% weightA78HigherC43
Durability5% weightC47B63Higher

Rank among Emerging Markets Active Growth funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. MEMS and PEMX are both graded against the same 9 Emerging Markets Active Growth funds, so their Grades compare head to head.

Emerging Markets Active Growth⁠

Category · 9 funds
See all 9 ›

PEMX ranks 4th and MEMS 8th of 9 funds in the Emerging Markets Active Growth Category.

  1. Rank 1ACGNGCapital Group New Geography Equity ETFScore 77
  2. Rank 2AFFEMFidelity Fundamental Emerging Markets ETFScore 74
  3. Rank 3CEMMGlobal X Emerging Markets ex-China ETFScore 53
  4. Rank 4CPEMXPutnam Emerging Markets Ex-China ETFScore 47
  5. Rank 5CBCEMBaron Emerging Markets Select ETFScore 41
  6. Rank 7DWCMEFirst Trust WCM Developing World Equity ETFScore 36
  7. Rank 8DMEMSMatthews Emerging Markets Discovery Active ETF MEMSScore 34
  8. Rank 9DTEMXTouchstone Capital Emerging Markets Ex China Growth ETFScore 31

Our read on each fund

ETF.net Research

MEMSDMatthews Emerging Markets Discovery Active ETF MEMS

PEMXCPutnam Emerging Markets Ex-China ETF

In short

MEMS Most emerging-markets funds are a bet on a handful of giants. MEMS shops the other end of the shelf: an active portfolio with at least 65% in small emerging-market companies, at 0.89% net of a waiver through April 30, 2027.

PEMX China swamps most emerging-market funds. PEMX cuts it out entirely and runs an active, roughly 60-stock book across the rest of the developing world, priced well below the typical active EM manager.

Stated mandate

MEMS The fund invests primarily in stocks of small companies located in emerging-market countries, with at least 65% of net assets in small companies and at least 80% in emerging-market companies.

PEMX The fund seeks long-term capital appreciation. It invests primarily in emerging-market common stocks outside China and Hong Kong, using active fundamental research to identify companies with favorable investment potential.

Why people hold it

  • MEMS The small-cap tilt is contractual: at least 65% of net assets in small companies, at least 80% in emerging-market companies, measured against the MSCI EM Small Cap benchmark.sec.govmatthewsasia.com
  • Matthews hunts capital-efficient, entrepreneurial companies with pricing power or differentiated technology, leaning toward businesses that serve rising domestic demand.matthewsasia.com
  • Portfolio build is the strongest part of the package: dozens of small-cap names spread across emerging markets instead of a few oversized bets.matthewsasia.com
  • PEMX 0.70% a year against a 0.95% median for its active peer group. Cheap freight for a stock-picking mandate.
  • About 60 names, not 600. Concentrated enough that the managers' calls actually show up in the portfolio.
  • Does what the label says: an ex-China portfolio measured against the MSCI Emerging Markets ex-China Index, with no China drift in the holdings.franklintempleton.com
  • Trading since 2023 under Franklin Templeton, and it sits in the upper half of the small group of active EM ex-China funds we track.

Worth knowing

  • MEMS At 0.89% net of a waiver through April 30, 2027 (0.99% gross), it prices above the category median; active EM peers FFEM (0.60%) and CGNG (0.64%) charge less.
  • A small, lightly traded fund since its January 2024 launch, so spreads can be wide and limit orders do real work.
  • Distributions land once or twice a year, not monthly, and EM small caps stack currency and local-market swings on top of ordinary emerging-market risk.
  • PEMX Not the cheapest door into ex-China: Global X's EMM charges 0.66%.
  • Small and thinly traded. Spreads can widen, so limit orders do the heavy lifting.
  • Zero China by design, so results diverge from a broad EM fund and any China sleeve has to come from somewhere else.franklintempleton.com

Full MEMS profile⁠

Full PEMX profile⁠

MEMS vs PEMX Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

MEMS vs PEMX Cost

Overpaying MEMS vs PEMX

$3,266

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

  • MEMS 0.89%

    $16,872

  • PEMX 0.70%

    $13,606

$10,000
30 years

Cost over time

  • MEMS 0.89%
  • PEMX 0.70%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530MEMS $16,872PEMX $13,606

Year by year

YearMEMSPEMXOverpaying
10$1,576$1,250$326
20$5,953$4,760$1,193
30$16,872$13,606$3,266

Expense ratio

  • 0.89%MEMS
  • 0.70%PEMX, cheaper
  • Middle half of Emerging Markets Active Growth funds
  • Median 0.79%

PEMX 4th cheapest of 9 funds

MEMS 8th cheapest of 9 funds

MEMS vs PEMX Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
MEMS 2.65%
PEMX 5.83%, better
Payout (12M)
MEMS $0.72
PEMX $4.50
Last payment
MEMS $0.72
PEMX $4.50
Ex-dividend
MEMS Dec 17, 2025
PEMX Dec 19, 2025
Paid on
MEMS Dec 22, 2025
PEMX Dec 23, 2025
Frequency
MEMS Irregular
PEMX Annual

Distribution history

Per share, 2023 to 2026, same scale for both

MEMSIrregular · 2 paymentsAll MEMS payments⁠
One bar per payment. 2 payments from 2023 to 2026 YTD. Dec 18, 2024 $0.33; Dec 17, 2025 $0.72. Use the arrow keys to read each point.$0$520232026YTD
PEMXAnnual · 3 paymentsAll PEMX payments⁠
One bar per payment. 3 payments from 2023 to 2026 YTD. Dec 26, 2023 $0.33; Dec 27, 2024 $2.57; Dec 19, 2025 $4.50. Use the arrow keys to read each point.$0$520232026YTD

MEMS vs PEMX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MEMS 17.6%since Feb 2024PEMX 19.8%
Return per unit of riskSharpe ratio, 3 years
MEMS 0.07since Feb 2024PEMX 1.21
Worst fallMax drawdown, 5 years
MEMS −22.2%since Jan 2024PEMX −19.0%since May 2023
Market sensitivityBeta, 5 years
MEMS 0.75PEMX 1.18

Popular comparisons

  • MEMSDvsCGNGA

    Matthews Emerging Markets Discovery Active ETF MEMS · Capital Group New Geography Equity ETF

    Expense ratio
    0.89% · 0.64%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • PEMXCvsCGNGA

    Putnam Emerging Markets Ex-China ETF · Capital Group New Geography Equity ETF

    Expense ratio
    0.70% · 0.64%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • MEMSDvsFFEMA

    Matthews Emerging Markets Discovery Active ETF MEMS · Fidelity Fundamental Emerging Markets ETF

    Expense ratio
    0.89% · 0.60%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • PEMXCvsFFEMA

    Putnam Emerging Markets Ex-China ETF · Fidelity Fundamental Emerging Markets ETF

    Expense ratio
    0.70% · 0.60%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • MEMSDvsEMMC

    Matthews Emerging Markets Discovery Active ETF MEMS · Global X Emerging Markets ex-China ETF

    Expense ratio
    0.89% · 0.66%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • PEMXCvsEMMC

    Putnam Emerging Markets Ex-China ETF · Global X Emerging Markets ex-China ETF

    Expense ratio
    0.70% · 0.66%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.