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Matthews Emerging Markets Equity Active ETF
MEM

Snapshot
  • Portfolio construction incorporates a macroeconomic framework combined with fundamental analysis that drives stock selection
  • Dynamic portfolio exposure driven by a clear framework based on EPS growth and P/E analysis
  • Risk management controls overall beta exposure and key drivers of risk

07/13/2022

Inception Date

5.99%

NAV YTD Return

(as of 05/19/2025)

$30.80

NAV

(as of 05/19/2025)

-0.12

1 Day NAV Change

(as of 05/19/2025)

Objective

Long-term capital appreciation

Strategy

Under normal circumstances, the Matthews Emerging Markets Equity Active ETF seeks to achieve its investment objective by investing at least 80% of its net assets, which include borrowings for investment purposes, in the common and preferred stocks of companies located in emerging market countries. Emerging market countries generally include every country in the world except the United States, Australia, Canada, Hong Kong, Israel, Japan, New Zealand, Singapore and most of the countries in Western Europe. Certain emerging market countries may also be classified as “frontier” market countries, which are a subset of emerging market countries with newer or even less developed economies and markets, such as Sri Lanka and Vietnam. The list of emerging market countries and frontier market countries may change from time to time. The Fund may also invest in companies located in developed countries; however, the Fund may not invest in any company located in a developed country if, at the time of purchase, more than 20% of the Fund’s assets are invested in developed market companies.

Risks

Investments in emerging and frontier securities may involve risks such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility and limited regulation. Additionally, investing in emerging and frontier markets countries are substantially smaller, less liquid and more volatile than securities markets in more developed markets.

These and other risks associated with investing in the Fund can be found in the prospectus.

Fund Facts
Inception Date 07/13/2022
Fund Assets $37.54 million (05/20/2025)
Currency USD
Ticker MEM
Cusip 577-125-818
Primary Exchange NYSE Arca
Benchmark MSCI Emerging Markets Index
Geographic Focus Emerging Markets - Countries generally include every country in the world except the United States, Australia, Canada, Hong Kong, Israel, Japan, New Zealand, Singapore and most of the countries in Western Europe
Fees & Expenses
Gross Expense Ratio 0.79%

NAV & Market Price

(as of 05/19/2025)
NAV $30.80
NAV Change -0.12
Market Price $30.94
Market Price Change +0.01
Day's Trading Volume 1,115 Shares
Median BID/ASK Spread (30 Day) 0.58% (as of 05/19/2025)
Premium Discount +0.45%
Number of days at Premium/Discount
2025 2024
Q2 Q1
Premium 19 32 159
Discount 15 26 86

The NAV of an ETF represents the value of all the securities held by the ETF such as shares or bonds and cash minus any liabilities such as Total Expense Ratio (TER), and divided by the number of shares outstanding. An ETF’s market price is the price at which investors can buy or sell an ETF on an exchange. This price may deviate from the NAV of the ETF depending on demand for and supply for the ETF at a point in time.

The Premium/Discount chart shows the difference between the daily market price of the Fund’s shares and the Fund’s net asset value (“NAV”). The daily market price is calculated using the mid-point between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund’s NAV is calculated (usually 4:00 pm Eastern time). The vertical axis of the chart shows the premium or discount of the Mid-Point price as a percentage of the NAV. The horizontal axis shows the number of trading days covered by the chart, and each bar in the chart demonstrates how many days the Fund traded within the given premium/discount range. The data presented in the chart and table above represent past performance and cannot be used to predict future results.

ETFs may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market prices (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.

Performance

  • Monthly
  • Quarterly
  • Calendar Year
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As of 04/30/2025
Average Annual Total Returns
Name 1MO 3MO YTD 1YR 3YR 5YR 10YR Since Inception Inception Date
Matthews Emerging Markets Equity Active ETF - MEM
07/13/2022
NAV
0.72% 0.38% 1.24% 8.07% n.a. n.a. n.a. 9.04%
Market Price
0.24% 0.27% 1.56% 8.48% n.a. n.a. n.a. 9.03%
MSCI Emerging Markets Index
1.34% 2.54% 4.39% 9.60% n.a. n.a. n.a. 8.08%
As of 03/31/2025
Average Annual Total Returns
Name 1MO 3MO YTD 1YR 3YR 5YR 10YR Since Inception Inception Date
Matthews Emerging Markets Equity Active ETF - MEM
07/13/2022
NAV
-1.12% 0.52% 0.52% 7.19% n.a. n.a. n.a. 9.03%
Market Price
-0.71% 1.31% 1.31% 7.33% n.a. n.a. n.a. 9.22%
MSCI Emerging Markets Index
0.67% 3.01% 3.01% 8.65% n.a. n.a. n.a. 7.81%
For the years ended December 31st
Name 2024 2023
Matthews Emerging Markets Equity Active ETF - MEM
NAV
10.79% 7.51%
Market Price
10.33% 6.93%
MSCI Emerging Markets Index (USD)
8.05% 10.27%

Source: BNY Mellon Investment Servicing (US) Inc. All performance is in US$.

Assumes reinvestment of all dividends and/or distributions before taxes. All performance quoted represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate with market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the return figures quoted. Returns would have been lower if certain of the Fund’s fees and expenses had not been waived.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the ETF, calculated using the value of the underlying assets of the ETF minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects the reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the ETF’s shares may differ significantly from their NAV during periods of market volatility.

Top 10 Holdings

(as of 05/21/2025)
Ticker Name SEDOL Market Value Shares % Net Assets
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO., LTD. 6889106 $3,596,184 111,000 9.6
700 TENCENT HOLDINGS, LTD. BMMV2K8 $2,714,483 41,100 7.2
9988 ALIBABA GROUP HOLDING, LTD. BK6YZP5 $945,255 60,800 2.5
1211 BYD CO., LTD. H SHARES 6536651 $937,148 16,500 2.5
ITUB ITAU UNIBANCO HOLDING SA ADR 2849739 $909,382 134,524 2.4
005930 SAMSUNG ELECTRONICS CO., LTD. 6771720 $813,916 20,270 2.2
000660 SK HYNIX, INC. 6450267 $780,924 5,382 2.1
2383 ELITE MATERIAL CO., LTD. 6316121 $738,994 33,000 2.0
IBN ICICI BANK, LTD. ADR 2569286 $719,542 21,163 1.9
HDB HDFC BANK, LTD. ADR 2781648 $716,232 9,802 1.9
086790 HANA FINANCIAL GROUP, INC. B0RNRF5 $638,440 13,148 1.7
EMAAR EMAAR PROPERTIES PJSC B01RM25 $625,244 169,485 1.7
BHARTI BHARTI AIRTEL, LTD. 6442327 $610,046 28,881 1.6
DIDIY DIDI GLOBAL, INC. ADR BMBR6F0 $576,484 121,621 1.5
9618 JD.COM, INC. CLASS A BKPQZT6 $555,120 32,550 1.5
000858 WULIANGYE YIBIN CO., LTD. A SHARES BD5CPG2 $518,986 29,000 1.4
ETERNAL ETERNAL, LTD. BL6P210 $500,445 187,738 1.3
857 PETROCHINA CO., LTD. H SHARES 6226576 $485,954 600,000 1.3
939 CHINA CONSTRUCTION BANK CORP. H SHARES B0LMTQ3 $468,321 529,000 1.2
MELI MERCADOLIBRE, INC. B23X1H3 $466,837 181 1.2
600036 CHINA MERCHANTS BANK CO., LTD. A SHARES BP3R273 $458,740 75,400 1.2
105560 KB FINANCIAL GROUP, INC. B3DF0Y6 $457,445 6,613 1.2
MAXF MAX FINANCIAL SERVICES, LTD. B1TJG95 $442,795 27,530 1.2
2454 MEDIATEK, INC. 6372480 $435,618 10,000 1.2
AXSB AXIS BANK, LTD. BPFJHC7 $419,925 30,073 1.1
GFNORTE GRUPO FINANCIERO BANORTE SAB DE CV CLASS O 2421041 $419,849 46,748 1.1
JD JD.COM, INC. ADR BMM27D9 $419,045 12,343 1.1
TVSL TVS MOTOR CO., LTD. 6726548 $416,836 12,975 1.1
MM MAHINDRA & MAHINDRA, LTD. 6100186 $410,887 11,486 1.1
BPI BANK OF THE PHILIPPINE ISLANDS 6074968 $399,923 169,670 1.1
BEKE KE HOLDINGS, INC. ADR BMBX7M2 $396,132 21,286 1.1
BAF BAJAJ FINANCE, LTD. BD2N0P2 $390,777 3,686 1.0
000810 SAMSUNG FIRE & MARINE INSURANCE CO., LTD. 6155250 $385,758 1,434 1.0
SHP SHOPRITE HOLDINGS, LTD. 6801575 $384,051 24,805 1.0
YMM FULL TRUCK ALLIANCE CO., LTD. ADR BMD2L36 $378,308 31,291 1.0
FMX FOMENTO ECONOMICO MEXICANO SAB DE CV ADR 2246039 $376,685 3,493 1.0
LPC LUPIN, LTD. 6143761 $375,132 16,333 1.0
388 HONG KONG EXCHANGES & CLEARING, LTD. 6267359 $368,160 7,600 1.0
2669 CHINA OVERSEAS PROPERTY HOLDINGS, LTD. BYYMZN7 $363,546 540,000 1.0
2318 PING AN INSURANCE GROUP CO. OF CHINA, LTD. H SHARES B01FLR7 $361,578 61,000 1.0
TCOM TRIP.COM GROUP, LTD. ADR BK1K3N2 $361,203 5,699 1.0
017670 SK TELECOM CO., LTD. 6224871 $338,487 9,150 0.9
INFY INFOSYS, LTD. ADR 2398822 $332,169 18,211 0.9
MRCO MARICO, LTD. B1S34K5 $331,597 40,334 0.9
2891 CTBC FINANCIAL HOLDING CO., LTD. 6527666 $330,548 239,000 0.9
035420 NAVER CORP. 6560393 $327,835 2,467 0.9
2308 DELTA ELECTRONICS, INC. 6260734 $326,912 27,000 0.9
3968 CHINA MERCHANTS BANK CO., LTD. H SHARES B1DYPZ5 $308,272 49,500 0.8
CPI CAPITEC BANK HOLDINGS, LTD. 6440859 $300,413 1,566 0.8
CPALL/F CP ALL PUBLIC CO., LTD. B08YDF9 $296,550 192,100 0.8
ST SINGAPORE TELECOMMUNICATIONS, LTD. B02PY11 $288,835 98,200 0.8
BBRI PT BANK RAKYAT INDONESIA PERSERO TBK 6709099 $287,583 1,121,300 0.8
051910 LG CHEM, LTD. 6346913 $286,700 2,104 0.8
3690 MEITUAN CLASS B BGJW376 $264,858 15,200 0.7
BBCA PT BANK CENTRAL ASIA TBK B01C1P6 $257,727 446,500 0.7
1336 NEW CHINA LIFE INSURANCE CO., LTD. H SHARES B5730Z1 $248,311 59,900 0.7
214150 CLASSYS, INC. BWT5WS1 $245,104 5,873 0.7
2379 REALTEK SEMICONDUCTOR CORP. 6051422 $240,700 14,000 0.6
MBB MILITARY COMMERCIAL JOINT STOCK BANK B6SDL09 $226,546 236,665 0.6
NU NU HOLDINGS, LTD. CLASS A BN6NP19 $219,938 17,223 0.6
27 GALAXY ENTERTAINMENT GROUP, LTD. 6465874 $200,935 49,000 0.5
3661 ALCHIP TECHNOLOGIES, LTD. B4TPSL0 $191,715 2,000 0.5
RAIL3 RUMO SA BYXZ2W5 $190,432 58,000 0.5
B3SA3 B3 SA - BRASIL BOLSA BALCAO BG36ZK1 $188,324 71,400 0.5
BIMAS BIM BIRLESIK MAGAZALAR AS B0D0006 $185,682 15,319 0.5
TATACON TATA CONSUMER PRODUCTS, LTD. 6121488 $182,840 13,875 0.5
SHFL SHRIRAM FINANCE, LTD. BS4DBX0 $177,508 23,090 0.5
KMB KOTAK MAHINDRA BANK, LTD. 6135661 $172,699 7,076 0.5
DIXON DIXON TECHNOLOGIES INDIA, LTD. BNC5412 $172,165 890 0.5
2317 HON HAI PRECISION INDUSTRY CO., LTD. 6438564 $112,234 22,000 0.3
000333 MIDEA GROUP CO., LTD. A SHARES BD5CPP1 $28,347 2,600 0.1
CASH CASH AND OTHERS $3,530,308 9.4
CURR CNY $494 0.0
CURR EUR $6 0.0
CURR GBP $0 0.0
CURR INR $2 0.0
CURR KRW $5,639 0.0
CURR PLN $3 0.0
TOTAL 34.3

Portfolio Breakdown (%)

(as of 03/31/2025)
  • Sector Allocation
  • Country Allocation
  • Market Cap Exposure
Sector Fund Benchmark Difference
Financials 27.6 24.3 3.3
Consumer Discretionary 18.6 14.6 4.0
Information Technology 16.6 21.7 -5.1
Communication Services 11.0 10.3 0.7
Industrials 5.6 6.3 -0.7
Real Estate 4.0 1.7 2.3
Consumer Staples 3.8 4.7 -0.9
Energy 2.3 4.5 -2.2
Health Care 2.2 3.3 -1.1
Materials 1.0 5.9 -4.9
Utilities 0.0 2.6 -2.6
Cash and Other Assets, Less Liabilities 7.2 0.0 7.2

Sector data based on MSCI’s revised Global Industry Classification Standards. For more details, visit www.msci.com.

Country Fund Benchmark Difference
China/Hong Kong 31.5 31.4 0.1
India 18.1 18.5 -0.4
Taiwan 13.2 16.8 -3.6
South Korea 8.5 9.0 -0.5
Brazil 4.6 4.4 0.2
United Arab Emirates 3.6 1.4 2.2
Singapore 3.6 0.0 3.6
South Africa 2.5 3.2 -0.7
Indonesia 2.2 1.2 1.0
Philippines 1.1 0.5 0.6
Macau 0.9 0.0 0.9
Thailand 0.8 1.2 -0.4
Mexico 0.6 1.9 -1.3
Vietnam 0.6 0.0 0.6
Turkey 0.5 0.6 -0.1
United States 0.5 0.0 0.5
Saudi Arabia 0.0 4.1 -4.1
Malaysia 0.0 1.3 -1.3
Poland 0.0 1.0 -1.0
Kuwait 0.0 0.8 -0.8
Qatar 0.0 0.8 -0.8
Greece 0.0 0.6 -0.6
Chile 0.0 0.5 -0.5
Hungary 0.0 0.3 -0.3
Peru 0.0 0.3 -0.3
Czech Republic 0.0 0.2 -0.2
Colombia 0.0 0.1 -0.1
Egypt 0.0 0.1 -0.1
Cash and Other Assets, Less Liabilities 7.2 0.0 7.2

Not all countries are included in the benchmark index(es).

Equity market cap of issuer Fund Benchmark Difference
Mega Cap (over $25B) 63.3 59.4 3.9
Large Cap ($10B-$25B) 20.6 22.1 -1.5
Mid Cap ($3B-$10B) 7.2 18.2 -11.0
Small Cap (under $3B) 1.7 0.4 1.3
Cash and Other Assets, Less Liabilities 7.2 0.0 7.2

Source: FactSet Research Systems.

Percentage values in data are rounded to the nearest tenth of one percent, so the values may not sum to 100% due to rounding. Percentage values may be derived from different data sources and may not be consistent with other Fund literature.

Portfolio Characteristics

(as of 03/31/2025)
Fund Benchmark
Number of Positions 76 1,206
Weighted Average Market Cap $159.6 billion $160.7 billion
Active Share 67.9 n.a.
P/E using FY1 estimates 13.4x 12.4x
P/E using FY2 estimates 11.7x 11.1x
Price/Cash Flow 7.7 8.0
Price/Book 2.2 1.8
Return On Equity 19.2 17.8
EPS Growth (3 Yr) 19.3% 11.4%

Sources: Factset Research Systems, Inc.

Distributions

Ex Date Record Date Pay Date Reinvest Date Ordinary
Income
Short Term
Capital Gains
Long Term
Capital Gains
Total Distributions
Per Share
% of NAV
12/18/2024 12/18/2024 12/23/2024 12/18/2024 $0.35562 $1.32577 $0.57938 $2.26077 7.1%
12/14/2023 12/15/2023 12/21/2023 12/14/2023 $0.00305 $0.00000 $0.00000 $0.00305 0.0%
12/14/2022 12/15/2022 12/21/2022 12/14/2022 $0.14045 $0.00000 $0.00000 $0.14045 0.5%

 

There is no guarantee that the Fund will pay or continue to pay distributions. 

Past performance is no guarantee of future results. Investment return and principal value will fluctuate with changing market conditions so that shares, when redeemed, may be worth more or less than their original cost.

Portfolio Managers

Sean  Taylor photo
Jeremy  Sutch, CFA photo

 

Visit our Glossary of Terms page for definitions and additional information.

Index Definitions

The information contained herein has been derived from sources believed to be reliable and accurate at the time of compilation, but no representation or warranty (express or implied) is made as to the accuracy or completeness of any of this information. Neither the funds nor the Investment Advisor accept any liability for losses either direct or consequential caused by the use of this information.