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Matthews Pacific Tiger Active ETF
ASIA

Snapshot
  • Seeks alpha in Asia’s emerging economies by capitalizing on the rising Asia consumer
  • High-conviction equity portfolio focused on sustainable growth companies
  • All-cap fundamental approach driven by on-the-ground, proprietary research

09/21/2023

Inception Date

6.99%

NAV YTD Return

(as of 05/17/2024)

$27.10

NAV

(as of 05/17/2024)

+0.11

1 Day NAV Change

(as of 05/17/2024)

Objective

Long-term capital appreciation

Strategy

Under normal circumstances, the Matthews Pacific Tiger 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 Asia Ex Japan. The ETF seeks to invest in companies capable of sustainable growth based on the fundamental characteristics of those companies, including balance sheet information; number of employees; size and stability of cash flow; management’s depth, adaptability and integrity; product lines; marketing strategies; corporate governance; and financial health.

Risks

Investments in Asian securities may involve risks such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility and limited regulation. Investing in emerging and frontier markets involves different and greater risks, as these 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 09/21/2023
Fund Assets $89.55 million (05/20/2024)
Currency USD
Ticker ASIA
Cusip 577-130-578
Primary Exchange NYSE Arca
Benchmark MSCI All Country Asia ex Japan Index
Geographic Focus Asia Ex Japan - Consists of all countries and markets in Asia, including developed, emerging, and frontier countries and markets in the Asian region, excluding Japan
Fees & Expenses
Gross Expense Ratio 0.79%

NAV & Market Price

(as of 05/17/2024)
NAV $27.10
NAV Change +0.11
Market Price $27.15
Market Price Change +0.15
Day's Trading Volume 572 Shares
Median BID/ASK Spread (30 Day) 0.23% (as of 05/20/2024)
Premium Discount +0.18%
Number of days at Premium/Discount
2024 2023
Q2 Q1
Premium 14 45 62
Discount 19 13 7

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.

Performance

  • Monthly
  • Quarterly
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As of 04/30/2024
Average Annual Total Returns
Name 1MO 3MO YTD 1YR 3YR 5YR 10YR Since Inception Inception Date
Matthews Pacific Tiger Active ETF - ASIA
09/21/2023
NAV
1.84% 7.15% 0.59% n.a. n.a. n.a. n.a. 2.05%
Market Price
0.88% 5.78% -0.79% n.a. n.a. n.a. n.a. 1.08%
MSCI All Country Asia ex Japan Index
1.26% 9.70% 3.73% n.a. n.a. n.a. n.a. 10.36%
As of 03/31/2024
Average Annual Total Returns
Name 1MO 3MO YTD 1YR 3YR 5YR 10YR Since Inception Inception Date
Matthews Pacific Tiger Active ETF - ASIA
09/21/2023
NAV
0.73% -1.22% -1.22% n.a. n.a. n.a. n.a. 0.20%
Market Price
0.81% -1.65% -1.65% n.a. n.a. n.a. n.a. 0.20%
MSCI All Country Asia ex Japan Index
2.58% 2.44% 2.44% n.a. n.a. n.a. n.a. 8.99%

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

Year to Date and Since Inception performance with less than one year of history represents actual performance, not annualized.

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 05/21/2024)
Ticker Name SEDOL Market Value Shares % Net Assets
TSM TAIWAN SEMICONDUCTOR MANUFACTURING CO., LTD. ADR 2113382 $9,015,535 58,714 10.1
700 TENCENT HOLDINGS, LTD. BMMV2K8 $5,531,489 109,200 6.2
005930 SAMSUNG ELECTRONICS CO., LTD. 6771720 $3,923,963 67,431 4.4
BABA ALIBABA GROUP HOLDING, LTD. ADR BP41ZD1 $3,386,950 38,366 3.8
105560 KB FINANCIAL GROUP, INC. B3DF0Y6 $2,110,340 35,065 2.4
1299 AIA GROUP, LTD. B4TX8S1 $2,048,600 245,200 2.3
IBN ICICI BANK, LTD. ADR 2569286 $2,011,936 74,296 2.2
2318 PING AN INSURANCE GROUP CO. OF CHINA, LTD. H SHARES B01FLR7 $1,974,298 342,500 2.2
3690 MEITUAN DIANPING CLASS B BGJW376 $1,862,091 117,100 2.1
KKC CUMMINS INDIA, LTD. 6294863 $1,773,579 38,164 2.0
JD JD.COM, INC. ADR BMM27D9 $1,763,771 50,756 2.0
000660 SK HYNIX, INC. 6450267 $1,718,941 12,260 1.9
FPT FPT CORP. B1HMWH6 $1,691,302 323,700 1.9
005380 HYUNDAI MOTOR CO. 6451055 $1,654,481 8,955 1.8
388 HONG KONG EXCHANGES & CLEARING, LTD. 6267359 $1,498,365 39,500 1.7
CPALL/F CP ALL PCL-FOREIGN B08YDF9 $1,401,175 863,100 1.6
BHARTI BHARTI AIRTEL, LTD. 6442327 $1,349,396 83,438 1.5
939 CHINA CONSTRUCTION BANK CORP. H SHARES B0LMTQ3 $1,334,667 1,764,000 1.5
2454 MEDIATEK, INC. 6372480 $1,328,228 36,000 1.5
600036 CHINA MERCHANTS BANK CO., LTD. A SHARES BP3R273 $1,264,361 251,800 1.4
MM MAHINDRA & MAHINDRA, LTD. 6100186 $1,240,550 41,292 1.4
600309 WANHUA CHEMICAL GROUP CO., LTD. A SHARES BP3R3S1 $1,233,665 99,500 1.4
857 PETROCHINA CO., LTD. H SHARES 6226576 $1,227,613 1,240,000 1.4
BDMS/F BANGKOK DUSIT MED SERVICE BLZGSM7 $1,185,185 1,485,500 1.3
000810 SAMSUNG FIRE & MARINE INSURANCE CO., LTD. 6155250 $1,166,628 4,235 1.3
YTLP YTL POWER INTERNATIONAL B B01GQS6 $1,127,931 980,400 1.3
9961 TRIP.COM GROUP LTD BNYK8H9 $1,091,406 19,502 1.2
AXSB AXIS BANK, LTD. BPFJHC7 $1,057,515 77,053 1.2
SE SEA, LTD. ADR BYWD7L4 $976,371 13,353 1.1
2345 ACCTON TECHNOLOGY CORP 6005214 $968,825 62,000 1.1
2628 CHINA LIFE INSURANCE CO., LTD. H SHARES 6718976 $949,756 585,000 1.1
000858 WULIANGYE YIBIN CO., LTD. A SHARES BD5CPG2 $879,299 40,500 1.0
SHFL SHRIRAM TRANSPORT FINANCE CO., LTD. 6802608 $877,681 30,856 1.0
BEKE KE HOLDINGS INC-ADR BMBX7M2 $875,786 45,973 1.0
TCS TATA CONSULTANCY SERVICES, LTD. B01NPJ1 $872,184 18,872 1.0
TTMT TATA MOTORS, LTD. B611LV1 $871,231 76,110 1.0
300760 SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO., LTD. A SHARES BHQK864 $870,065 20,500 1.0
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD. A SHARES BHQPSY7 $862,082 30,700 1.0
TTAN TITAN CO., LTD. 6139340 $858,954 21,288 1.0
BPI BANK OF THE PHILIPPINE ISLANDS 6074968 $844,503 386,230 0.9
ZOMATO ZOMATO LTD BL6P210 $839,816 360,016 0.9
1216 UNI-PRESIDENT ENTERPRISES 6700393 $826,013 342,000 0.9
PWGR POWER GRID CORP. OF INDIA, LTD. B233HS6 $811,326 213,357 0.9
BBCA PT BANK CENTRAL ASIA B01C1P6 $807,406 1,361,300 0.9
SCI SEMBCORP INDUSTRIES LTD B08X163 $803,640 206,600 0.9
IH INDIAN HOTELS CO LTD B1FRT61 $803,361 117,331 0.9
3711 ASE TECHNOLOGY HOLDING CO BFXZDY1 $777,590 165,000 0.9
000333 MIDEA GROUP CO., LTD. A SHARES BD5CPP1 $754,353 82,100 0.8
5274 ASPEED TECHNOLOGY INC B80VKP3 $718,372 7,000 0.8
291 CHINA RESOURCES BEER HOLDINGS CO., LTD. 6972459 $664,102 137,000 0.7
1801 INNOVENT BIOLOGICS, INC. BGR6KX5 $617,859 120,000 0.7
8069 E INK HOLDINGS INC 6744283 $612,724 93,000 0.7
2020 ANTA SPORTS PRODUCTS, LTD. B1YVKN8 $604,442 51,400 0.7
TME TENCENT MUSIC ENTERTAINMENT GROUP ADR BFZYWR2 $598,767 39,212 0.7
051910 LG CHEM, LTD. 6346913 $580,674 2,011 0.6
2688 ENN ENERGY HOLDINGS, LTD. 6333937 $558,300 54,900 0.6
UTCEM ULTRATECH CEMENT, LTD. B01GZF6 $541,011 4,570 0.6
3661 ALCHIP TECHNOLOGIES, LTD. B4TPSL0 $529,245 6,000 0.6
960 LONGFOR GROUP HOLDINGS LT B56KLY9 $528,470 274,000 0.6
JSW JSW ENERGY LTD B4X3ST8 $494,597 68,955 0.6
LPC LUPIN, LTD. 6143761 $490,781 24,634 0.5
267260 HD HYUNDAI ELECTRIC CO LT BD4HFR9 $451,599 2,355 0.5
207940 SAMSUNG BIOLOGICS CO., LTD. BYNJCV6 $439,326 754 0.5
006400 SAMSUNG SDI CO., LTD. 6771645 $439,057 1,404 0.5
300308 ZHONGJI INNOLIGHT CO LTD- BFFJRM7 $422,307 17,300 0.5
3231 WISTRON CORP 6672481 $419,861 122,000 0.5
SM SM INVESTMENTS CORP B068DB9 $384,607 25,450 0.4
300274 SUNGROW POWER SUPPLY CO L BD5CGB4 $380,867 27,200 0.4
688777 SUPCON TECHNOLOGY CO LTD- BQ3RXP5 $374,256 64,027 0.4
300124 SHENZHEN INOVANCE TECHNOLOGY CO., LTD. A SHARES BD5CMN8 $349,693 41,500 0.4
2383 ELITE MATERIAL CO., LTD. 6316121 $348,241 26,000 0.4
3037 UNIMICRON TECHNOLOGY CORP 6137720 $324,585 58,000 0.4
2382 QUANTA COMPUTER INC 6141011 $271,040 31,000 0.3
028260 CHEIL INDUSTRIES, INC. BSXN8K7 $261,132 2,337 0.3
EDU NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP, INC. ADR BMCMBJ3 $248,911 3,059 0.3
2317 HON HAI PRECISION INDUSTR 6438564 $88,285 17,000 0.1
CASH CASH AND OTHERS $1,430,013 1.6
CURR CNY $52 0.0
CURR INR $251,474 0.3
CURR KRW $13,316 0.0
TOTAL 37.6

Portfolio Breakdown (%)

(as of 03/31/2024)
  • Sector Allocation
  • Country Allocation
  • Market Cap Exposure
Sector Fund Benchmark Difference
Information Technology 29.4 27.4 2.0
Consumer Discretionary 19.3 13.5 5.8
Financials 15.1 20.2 -5.1
Industrials 9.0 7.7 1.3
Consumer Staples 7.0 4.4 2.6
Communication Services 4.3 9.1 -4.8
Health Care 4.3 3.6 0.7
Real Estate 2.1 2.6 -0.5
Materials 1.8 4.7 -2.9
Energy 1.7 4.0 -2.3
Utilities 1.4 2.7 -1.3
Cash and Other Assets, Less Liabilities 4.5 0.0 4.5

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 31.2 34.1 -2.9
India 20.2 20.6 -0.4
Taiwan 19.1 20.4 -1.3
South Korea 15.8 14.9 0.9
Indonesia 2.8 2.2 0.6
Vietnam 2.6 0.0 2.6
Thailand 2.2 1.8 0.4
Philippines 1.0 0.7 0.3
Singapore 0.6 3.6 -3.0
Malaysia 0.0 1.6 -1.6
Macau 0.0 0.2 -0.2
Cash and Other Assets, Less Liabilities 4.5 0.0 4.5

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

Equity market cap of issuer Fund Benchmark Difference
Mega Cap (over $25B) 56.3 60.4 -4.1
Large Cap ($10B-$25B) 24.1 21.0 3.1
Mid Cap ($3B-$10B) 14.5 17.7 -3.2
Small Cap (under $3B) 0.6 0.9 -0.3
Cash and Other Assets, Less Liabilities 4.5 0.0 4.5

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 03/31/2024)
Fund Benchmark
Number of Positions 73 1,182
Weighted Average Market Cap $135.7 billion $139.1 billion
Active Share 78.2 n.a.
P/E using FY1 estimates 15.3x 13.2x
P/E using FY2 estimates 13.2x 11.7x
Price/Cash Flow 10.9 8.4
Price/Book 2.4 1.6
Return On Equity 15.7 14.2
EPS Growth (3 Yr) 26.1% 12.6%

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
12/14/2023 12/15/2023 12/21/2023 12/14/2023 $0.03003 $0.00000 $0.00000 $0.03003 0.1%

 

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
Sean Taylor

Lead Manager

Inbok  Song photo
Inbok Song

Lead Manager

Winnie  Chwang photo
Winnie Chwang

Co-Manager

Andrew  Mattock, CFA photo
Andrew Mattock, CFA

Co-Manager

Peeyush  Mittal, CFA photo
Peeyush Mittal, CFA

Co-Manager

Jeremy  Sutch, CFA photo
Jeremy Sutch, CFA

Co-Manager

 

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.