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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

21.78%

NAV YTD Return

(as of 10/14/2025)

$35.39

NAV

(as of 10/14/2025)

-0.51

1 Day NAV Change

(as of 10/14/2025)

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 $40.44 million (10/15/2025)
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 10/14/2025)
NAV $35.39
NAV Change -0.51
Market Price $35.56
Market Price Change -0.43
Day's Trading Volume 4,964 Shares
Median BID/ASK Spread (30 Day) 0.33% (as of 10/15/2025)
Premium Discount +0.48%
Number of days at Premium/Discount
2025 2024
Q4 Q3 Q2 Q1
Premium 6 33 34 32 159
Discount 3 28 28 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 09/30/2025
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
8.23% 11.57% 24.40% 16.64% 17.84% n.a. n.a. 14.95%
Market Price
7.73% 11.51% 25.27% 18.36% 18.11% n.a. n.a. 15.08%
MSCI Emerging Markets Index
7.18% 10.95% 28.22% 18.17% 18.81% n.a. n.a. 14.06%
As of 09/30/2025
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
8.23% 11.57% 24.40% 16.64% 17.84% n.a. n.a. 14.95%
Market Price
7.73% 11.51% 25.27% 18.36% 18.11% n.a. n.a. 15.08%
MSCI Emerging Markets Index
7.18% 10.95% 28.22% 18.17% 18.81% n.a. n.a. 14.06%
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 10/16/2025)
Ticker Name SEDOL Market Value Shares % Net Assets
2330 TAIWAN SEMICONDUCTOR MANUFACTURING CO., LTD. 6889106 $4,645,169 97,000 11.5
9988 ALIBABA GROUP HOLDING, LTD. BK6YZP5 $2,668,824 128,400 6.6
700 TENCENT HOLDINGS, LTD. BMMV2K8 $2,500,016 31,000 6.2
005930 SAMSUNG ELECTRONICS CO., LTD. 6771720 $1,243,853 18,610 3.1
ITUB ITAU UNIBANCO HOLDING SA ADR 2849739 $848,404 123,494 2.1
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD. A SHARES BHQPSY7 $807,807 15,600 2.0
071050 KOREA INVESTMENT HOLDINGS CO., LTD. 6654586 $798,181 7,650 2.0
PDD PDD HOLDINGS, INC. ADR BYVW0F7 $788,827 6,183 2.0
267260 HD HYUNDAI ELECTRIC CO., LTD. BD4HFR9 $738,332 1,571 1.8
XP XP, INC. A SHARES BK4Y052 $714,212 43,207 1.8
2308 DELTA ELECTRONICS, INC. 6260734 $663,572 20,000 1.6
HDB HDFC BANK, LTD. ADR 2781648 $608,236 16,872 1.5
ANTO ANTOFAGASTA PLC 0045614 $604,176 16,291 1.5
TCOM TRIP.COM GROUP, LTD. ADR BK1K3N2 $596,945 8,551 1.5
BHARTI BHARTI AIRTEL, LTD. 6442327 $592,663 26,511 1.5
9618 JD.COM, INC. CLASS A BKPQZT6 $574,919 34,650 1.4
000660 SK HYNIX, INC. 6450267 $564,185 1,898 1.4
2383 ELITE MATERIAL CO., LTD. 6316121 $558,970 15,000 1.4
YMM FULL TRUCK ALLIANCE CO., LTD. ADR BMD2L36 $554,369 44,385 1.4
MMYT MAKEMYTRIP, LTD. B552PC2 $494,759 5,473 1.2
ETERNAL ETERNAL, LTD. BL6P210 $473,897 117,762 1.2
NTES NETEASE, INC. ADR 2606440 $452,236 3,047 1.1
EIM EICHER MOTORS, LTD. BMW4CV8 $449,226 5,737 1.1
9660 HORIZON ROBOTICS BS5YNY7 $432,619 379,200 1.1
009150 SAMSUNG ELECTRO-MECHANICS CO., LTD. 6771689 $417,631 2,968 1.0
000810 SAMSUNG FIRE & MARINE INSURANCE CO., LTD. 6155250 $413,702 1,314 1.0
035420 NAVER CORP. 6560393 $412,298 2,267 1.0
GFNORTE GRUPO FINANCIERO BANORTE SAB DE CV CLASS O 2421041 $409,862 42,918 1.0
2318 PING AN INSURANCE GROUP CO. OF CHINA, LTD. H SHARES B01FLR7 $408,438 58,000 1.0
BAF BAJAJ FINANCE, LTD. BTFGH15 $407,325 33,840 1.0
DIDIY DIDI GLOBAL, INC. ADR BMBR6F0 $405,258 64,429 1.0
600036 CHINA MERCHANTS BANK CO., LTD. A SHARES BP3R273 $403,842 69,400 1.0
939 CHINA CONSTRUCTION BANK CORP. H SHARES B0LMTQ3 $397,874 413,000 1.0
IBN ICICI BANK, LTD. ADR 2569286 $397,340 12,448 1.0
012450 HANWHA AEROSPACE CO., LTD. 6772671 $394,661 588 1.0
SHP SHOPRITE HOLDINGS, LTD. 6801575 $380,978 22,770 0.9
TVSL TVS MOTOR CO., LTD. 6726548 $368,269 9,071 0.9
086790 HANA FINANCIAL GROUP, INC. B0RNRF5 $363,690 5,983 0.9
BEKE KE HOLDINGS, INC. ADR BMBX7M2 $358,187 19,541 0.9
388 HONG KONG EXCHANGES & CLEARING, LTD. 6267359 $357,658 6,500 0.9
B3SA3 B3 SA - BRASIL BOLSA BALCAO BG36ZK1 $348,999 150,100 0.9
3908 CHINA INTERNATIONAL CAPITAL CORP., LTD. H SHARES BZ169C6 $347,976 125,600 0.9
MM MAHINDRA & MAHINDRA, LTD. 6100186 $344,418 8,672 0.9
MAXF MAX FINANCIAL SERVICES, LTD. B1TJG95 $340,185 18,616 0.8
MELI MERCADOLIBRE, INC. B23X1H3 $340,026 166 0.8
SHFL SHRIRAM FINANCE, LTD. BS4DBX0 $338,994 44,082 0.8
CPI CAPITEC BANK HOLDINGS, LTD. 6440859 $327,824 1,436 0.8
017670 SK TELECOM CO., LTD. 6224871 $319,724 8,400 0.8
2891 CTBC FINANCIAL HOLDING CO., LTD. 6527666 $304,962 219,000 0.8
857 PETROCHINA CO., LTD. H SHARES 6226576 $302,132 324,000 0.7
MRCO MARICO, LTD. B1S34K5 $298,654 37,029 0.7
MBB MILITARY COMMERCIAL JOINT STOCK BANK B6SDL09 $296,792 286,897 0.7
ST SINGAPORE TELECOMMUNICATIONS, LTD. B02PY11 $293,560 90,200 0.7
FMX FOMENTO ECONOMICO MEXICANO SAB DE CV ADR 2246039 $291,966 3,208 0.7
BPI BANK OF THE PHILIPPINE ISLANDS 6074968 $286,804 155,770 0.7
3968 CHINA MERCHANTS BANK CO., LTD. H SHARES B1DYPZ5 $280,001 44,500 0.7
CPALL/F CP ALL PUBLIC CO., LTD. B08YDF9 $256,394 176,600 0.6
2379 REALTEK SEMICONDUCTOR CORP. 6051422 $242,547 14,000 0.6
27 GALAXY ENTERTAINMENT GROUP, LTD. 6465874 $209,056 44,000 0.5
YUMC YUM CHINA HOLDINGS, INC. BYW4289 $204,434 4,642 0.5
3661 ALCHIP TECHNOLOGIES, LTD. B4TPSL0 $201,360 2,000 0.5
064350 HYUNDAI ROTEM CO., LTD. BFPM3C8 $195,422 1,301 0.5
RELIANC RELIANCE INDUSTRIES, LTD. 6099626 $185,555 11,889 0.5
207940 SAMSUNG BIOLOGICS CO., LTD. BYNJCV6 $183,955 232 0.5
3690 MEITUAN CLASS B BGJW376 $182,460 14,200 0.5
214150 CLASSYS, INC. BWT5WS1 $177,572 5,393 0.4
TATACON TATA CONSUMER PRODUCTS, LTD. 6121488 $161,205 12,740 0.4
DIXON DIXON TECHNOLOGIES INDIA, LTD. BNC5412 $155,281 815 0.4
RAIL3 RUMO SA BYXZ2W5 $151,894 53,000 0.4
2317 HON HAI PRECISION INDUSTRY CO., LTD. 6438564 $148,503 22,000 0.4
2259 ZIJIN GOLD INTERNATIONAL CO., LTD. BSD3B20 $67,578 3,700 0.2
105560 KB FINANCIAL GROUP, INC. B3DF0Y6 $51,690 635 0.1
TVSLIN TVS MOTOR CO., LTD., PFD. BPCNFX9 $4,713 39,524 0.0
CASH CASH AND OTHERS $2,929,726 7.2
CURR CNY $0 0.0
CURR EUR $7 0.0
CURR GBP $0 0.0
CURR INR $4 0.0
CURR PLN $3 0.0
TOTAL 39.0

Portfolio Breakdown (%)

(as of 09/30/2025)
  • Sector Allocation
  • Country Allocation
  • Market Cap Exposure
Sector Fund Benchmark Difference
Financials 23.4 22.2 1.2
Consumer Discretionary 21.5 13.6 7.9
Information Technology 19.8 25.5 -5.7
Communication Services 11.6 10.5 1.1
Industrials 9.3 6.6 2.7
Consumer Staples 3.4 4.0 -0.6
Materials 1.6 6.5 -4.9
Energy 1.2 3.8 -2.6
Health Care 0.9 3.4 -2.5
Real Estate 0.9 1.4 -0.5
Utilities 0.0 2.3 -2.3
Cash and Other Assets, Less Liabilities 6.3 0.0 6.3

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 36.1 31.2 4.9
Taiwan 15.5 19.4 -3.9
South Korea 14.0 11.0 3.0
India 13.3 15.2 -1.9
Brazil 5.6 4.3 1.3
Mexico 1.8 2.0 -0.2
South Africa 1.6 3.5 -1.9
Chile 1.5 0.5 1.0
United States 1.0 0.0 1.0
Philippines 0.8 0.4 0.4
Singapore 0.7 0.0 0.7
Vietnam 0.7 0.0 0.7
Thailand 0.6 1.0 -0.4
Macau 0.6 0.0 0.6
Saudi Arabia 0.0 3.3 -3.3
United Arab Emirates 0.0 1.4 -1.4
Malaysia 0.0 1.2 -1.2
Indonesia 0.0 1.1 -1.1
Poland 0.0 1.0 -1.0
Kuwait 0.0 0.7 -0.7
Qatar 0.0 0.7 -0.7
Greece 0.0 0.6 -0.6
Turkey 0.0 0.5 -0.5
Hungary 0.0 0.3 -0.3
Peru 0.0 0.3 -0.3
Colombia 0.0 0.1 -0.1
Czech Republic 0.0 0.1 -0.1
Egypt 0.0 0.1 -0.1
Cash and Other Assets, Less Liabilities 6.3 0.0 6.3

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

Equity market cap of issuer Fund Benchmark Difference
Mega Cap (over $25B) 65.5 64.6 0.9
Large Cap ($10B-$25B) 17.8 22.4 -4.6
Mid Cap ($3B-$10B) 10.0 13.0 -3.0
Small Cap (under $3B) 0.5 0.1 0.4
Cash and Other Assets, Less Liabilities 6.3 0.0 6.3

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 09/30/2025)
Fund Benchmark
Number of Positions 72 1,189
Weighted Average Market Cap $266.5 billion $243.7 billion
Active Share 66.1 n.a.
P/E using FY1 estimates 16.6x 14.9x
P/E using FY2 estimates 14.3x 13.2x
Price/Cash Flow 12.0 9.4
Price/Book 2.6 2.1
Return On Equity 20.1 18.3
EPS Growth (3 Yr) 20.6% 11.2%

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.