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.
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%
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.
The risks associated with investing in the Fund can be found in the prospectus
NAV & Market Price
(as of 12/09/2024)
NAV
$32.61
NAV Change
+0.32
Market Price
$32.76
Market Price Change
+0.49
Day's Trading Volume
4,558 Shares
Median BID/ASK Spread (30 Day)
0.32% (as of 12/09/2024)
Premium Discount
+0.46%
Number of days at Premium/Discount
2024
2023
Q4
Q3
Q2
Q1
Premium
22
36
37
56
166
Discount
26
26
23
4
73
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
As of 11/30/2024
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
-2.65%
2.73%
11.86%
16.93%
n.a.
n.a.
n.a.
10.56%
Market Price
-1.95%
3.32%
12.31%
18.00%
n.a.
n.a.
n.a.
10.79%
MSCI Emerging Markets Index
-3.58%
-1.55%
8.15%
12.42%
n.a.
n.a.
n.a.
7.63%
As of 09/30/2024
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
8.52%
8.95%
18.17%
26.75%
n.a.
n.a.
n.a.
14.19%
Market Price
7.42%
7.95%
16.77%
25.57%
n.a.
n.a.
n.a.
13.63%
MSCI Emerging Markets Index
6.72%
8.88%
17.24%
26.54%
n.a.
n.a.
n.a.
12.25%
For the years ended December 31st
Name
2023
Matthews Emerging Markets Equity Active ETF - MEM
NAV
7.51%
Market Price
6.93%
MSCI Emerging Markets Index (USD)
10.27%
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 12/10/2024)
Ticker
Name
SEDOL
Market Value
Shares
% Net Assets
2330
TAIWAN SEMICONDUCTOR MANUFACTURING CO., LTD.
6889106
$4,434,354
134,000
8.2
700
TENCENT HOLDINGS, LTD.
BMMV2K8
$2,327,445
43,200
4.3
IBN
ICICI BANK, LTD. ADR
2569286
$1,992,737
64,199
3.7
HDB
HDFC BANK, LTD. ADR
2781648
$1,631,016
23,982
3.0
005930
SAMSUNG ELECTRONICS CO., LTD.
6771720
$1,411,896
37,989
2.6
PDD
PDD HOLDINGS, INC. ADR
BYVW0F7
$1,188,695
10,774
2.2
ZOMATO
ZOMATO, LTD.
BL6P210
$1,144,096
328,269
2.1
GRAB
GRAB HOLDINGS, LTD. CLASS A
BP6NH40
$1,141,547
214,174
2.1
TSM
TAIWAN SEMICONDUCTOR MANUFACTURING CO., LTD. ADR
2113382
$1,104,597
5,546
2.0
EMAAR
EMAAR PROPERTIES PJSC
B01RM25
$1,063,396
410,710
2.0
9988
ALIBABA GROUP HOLDING, LTD.
BK6YZP5
$1,031,835
92,300
1.9
ANTO
ANTOFAGASTA PLC
0045614
$1,024,474
44,094
1.9
2317
HON HAI PRECISION INDUSTRY CO., LTD.
6438564
$948,438
158,000
1.8
YUMC
YUM CHINA HOLDINGS, INC.
BYW4289
$938,961
18,411
1.7
JD
JD.COM, INC. ADR
BMM27D9
$911,159
22,078
1.7
600036
CHINA MERCHANTS BANK CO., LTD. A SHARES
BP3R273
$836,365
150,700
1.5
INFY
INFOSYS, LTD. ADR
2398822
$827,901
35,747
1.5
SWIGGY
SWIGGY, LTD.
BSF1LT9
$812,364
128,212
1.5
BBCA
PT BANK CENTRAL ASIA TBK
B01C1P6
$786,574
1,205,700
1.5
3690
MEITUAN CLASS B
BGJW376
$775,294
35,100
1.4
BPI
BANK OF THE PHILIPPINE ISLANDS
6074968
$747,352
333,520
1.4
FCX
FREEPORT-MCMORAN, INC.
2352118
$744,241
17,019
1.4
300750
CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD. A SHARES
BHQPSY7
$678,712
17,200
1.3
MM
MAHINDRA & MAHINDRA, LTD.
6100186
$669,103
18,580
1.2
DIDIY
DIDI GLOBAL, INC. ADR
BMBR6F0
$652,295
131,511
1.2
IH
INDIAN HOTELS CO., LTD.
B1FRT61
$643,052
65,080
1.2
TCOM
TRIP.COM GROUP, LTD. ADR
BK1K3N2
$638,535
8,507
1.2
2308
DELTA ELECTRONICS, INC.
6260734
$610,897
49,000
1.1
2628
CHINA LIFE INSURANCE CO., LTD. H SHARES
6718976
$609,288
292,000
1.1
BEKE
KE HOLDINGS, INC. ADR
BMBX7M2
$608,823
28,964
1.1
939
CHINA CONSTRUCTION BANK CORP. H SHARES
B0LMTQ3
$585,461
727,000
1.1
BHARTI
BHARTI AIRTEL, LTD.
6442327
$584,212
30,888
1.1
FPT
FPT CORP.
B1HMWH6
$552,764
95,395
1.0
LPC
LUPIN, LTD.
6143761
$552,178
22,229
1.0
2882
CATHAY FINANCIAL HOLDING CO., LTD.
6425663
$545,335
256,000
1.0
2318
PING AN INSURANCE GROUP CO. OF CHINA, LTD. H SHARES
B01FLR7
$543,372
87,000
1.0
2020
ANTA SPORTS PRODUCTS, LTD.
B1YVKN8
$530,077
49,200
1.0
SPINNEY
SPINNEYS 1961 HOLDING PLC
BQ68C25
$503,486
1,200,847
0.9
2454
MEDIATEK, INC.
6372480
$489,457
12,000
0.9
CPALL/F
CP ALL PUBLIC CO., LTD.
B08YDF9
$487,189
262,500
0.9
WEGE3
WEG SA
2945422
$484,487
52,700
0.9
000660
SK HYNIX, INC.
6450267
$480,556
4,088
0.9
3908
CHINA INTERNATIONAL CAPITAL CORP., LTD. H SHARES
BZ169C6
$478,679
244,800
0.9
000858
WULIANGYE YIBIN CO., LTD. A SHARES
BD5CPG2
$474,211
22,100
0.9
ITUB
ITAU UNIBANCO HOLDING SA ADR
2849739
$473,258
88,130
0.9
105560
KB FINANCIAL GROUP, INC.
B3DF0Y6
$466,499
8,095
0.9
2382
QUANTA COMPUTER, INC.
6141011
$464,707
51,000
0.9
BUPA
BUPA ARABIA FOR COOPERATIVE INSURANCE CO.
B2RLCR0
$450,542
8,257
0.8
TLKM
PT TELEKOMUNIKASI INDONESIA PERSERO TBK
BD4T6W7
$450,403
2,607,900
0.8
NU
NU HOLDINGS, LTD. CLASS A
BN6NP19
$445,860
37,373
0.8
NED
NEDBANK GROUP, LTD.
6628008
$444,462
25,600
0.8
BBRI
PT BANK RAKYAT INDONESIA PERSERO TBK
6709099
$422,287
1,526,100
0.8
017670
SK TELECOM CO., LTD.
6224871
$417,933
10,498
0.8
857
PETROCHINA CO., LTD. H SHARES
6226576
$417,547
552,000
0.8
000810
SAMSUNG FIRE & MARINE INSURANCE CO., LTD.
6155250
$409,761
1,613
0.8
282330
BGF RETAIL CO., LTD.
BD95QN1
$397,171
5,741
0.7
MAXF
MAX FINANCIAL SERVICES, LTD.
B1TJG95
$382,813
27,345
0.7
JSW
JSW ENERGY, LTD.
B4X3ST8
$377,211
47,335
0.7
207940
SAMSUNG BIOLOGICS CO., LTD.
BYNJCV6
$345,569
521
0.6
2383
ELITE MATERIAL CO., LTD.
6316121
$321,687
19,000
0.6
RELIANC
RELIANCE INDUSTRIES, LTD.
6099626
$310,486
20,312
0.6
300760
SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO., LTD. A SHARES
BHQK864
$306,023
8,000
0.6
600809
SHANXI XINGHUACUN FEN WINE FACTORY CO., LTD. A SHARES
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
38.3
27.9
10.4
India
18.6
19.5
-0.9
Taiwan
10.0
17.5
-7.5
South Korea
8.4
10.4
-2.0
Brazil
3.8
4.8
-1.0
Indonesia
2.8
1.6
1.2
United States
2.4
0.0
2.4
Vietnam
2.2
0.0
2.2
United Arab Emirates
1.9
1.2
0.7
Singapore
1.6
0.0
1.6
Philippines
1.5
0.6
0.9
Chile
1.5
0.4
1.1
Peru
1.4
0.3
1.1
Thailand
1.0
1.5
-0.5
Saudi Arabia
0.8
3.8
-3.0
South Africa
0.8
3.1
-2.3
Mexico
0.8
1.9
-1.1
Poland
0.4
0.9
-0.5
Malaysia
0.0
1.5
-1.5
Qatar
0.0
0.8
-0.8
Kuwait
0.0
0.7
-0.7
Turkey
0.0
0.6
-0.6
Greece
0.0
0.5
-0.5
Hungary
0.0
0.2
-0.2
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
1.9
0.0
1.9
Not all countries are included in the benchmark index(es).
Equity market cap of issuer
Fund
Benchmark
Difference
Mega Cap (over $25B)
70.4
59.1
11.3
Large Cap ($10B-$25B)
18.5
22.6
-4.1
Mid Cap ($3B-$10B)
7.4
17.8
-10.4
Small Cap (under $3B)
1.9
0.4
1.5
Cash and Other Assets, Less Liabilities
1.9
0.0
1.9
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 09/30/2024)
Fund
Benchmark
Number of Positions
78
1,277
Weighted Average Market Cap
$162.1 billion
$158.8 billion
Active Share
67.8
n.a.
P/E using FY1 estimates
15.1x
13.3x
P/E using FY2 estimates
13.1x
11.9x
Price/Cash Flow
8.4
8.7
Price/Book
2.3
1.9
Return On Equity
14.3
15.9
EPS Growth (3 Yr)
12.5%
17.4%
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
12/14/2023
12/15/2023
12/21/2023
12/14/2023
$0.00305
$0.00000
$0.00000
$0.00305
0.0%
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.
Sean Taylor is Chief Investment Officer and Portfolio Manager at Matthews. As Chief Investment Officer, Sean oversees the firm’s investment process and investment professionals and sets the research agenda for the investment team. He manages the firm’s Pacific Tiger, Asia ex Japan Total Return Equity and Emerging Markets Equity Strategies and co-manages the firm’s Emerging Markets ex China Strategy. Prior to joining Matthews in October 2023, he was Chief Investment Officer APAC, Global Head of Emerging Markets Equity at DWS Group based in Hong Kong since he joined the company in 2013. From 2004 to 2011, he was an Investment Director at GAM, based in London and Dubai. From 1997 to 2004, he was at Societe Generale as Head of International and Emerging Markets. Sean has 30 years of experience, including more than a decade as CIO. He oversaw a number of emerging markets active strategies, including Latin America, India, China, Brazil, Russia as well as international and global strategies. He received his MBA from Manchester Business School and is a graduate of the Royal Military Academy, Sandhurst.
Alex Zarechnak is a Portfolio Manager at Matthews and manages the firm’s Emerging Markets Equity and Emerging Markets ex China Strategies and co-manages the Emerging Markets Small Companies, Emerging Markets Discovery, and Emerging Markets Sustainable Future Strategies. Prior to joining the firm in 2020, he spent a total of 15 years (1998 – 2006 and 2012 – 2019) at Wellington Management as an analyst for the firm’s flagship Emerging Markets Equity fund as a generalist first covering CEEMEA, then Latin America. From 2006-2012, he was a regional equity analyst at Capital Group, covering Emerging Markets with a focus on energy, telecoms and consumer sectors in Latin America and CEEMEA. Alex began his Emerging Markets career as a Russia equity analyst with Templeton Emerging Markets, based in Moscow. He earned a B.A. in Economics and Government from the College of William & Mary. Alex is fluent in Russian.
Andrew Mattock is a Portfolio Manager at Matthews and manages the firm’s China, China Small Companies, China Discovery and China A-Share Strategies and co-manages the Pacific Tiger, China Total Return Equity and Emerging Markets Equity Strategies. Prior to joining Matthews in 2015, he was a Fund Manager at Henderson Global Investors for 15 years, first in London and then in Singapore, managing Asia Pacific equities. Andrew holds a Bachelor of Business majoring in Accounting from ACU. He began his career at PricewaterhouseCoopers and qualified as a Chartered Accountant.
Peeyush Mittal is a Portfolio Manager at Matthews and manages the firm’s India Strategy and co-manages the Emerging Markets Equity, Emerging Markets ex China, Asia Growth and Pacific Tiger Strategies. Prior to joining the Matthews in 2015, he spent over three years at Franklin Templeton Asset Management India, most recently as a Senior Research Analyst. Previously, he was with Deutsche Asset & Wealth Management New York, from 2009 to 2011, researching U.S. and European stocks in the industrials and materials sectors. Peeyush began his career in 2003 with Scot Forge as an Industrial Engineer, and was responsible for implementing Lean Manufacturing systems on the production shop floor. Peeyush earned his M.B.A from The University of Chicago Booth School of Business. He received a Master of Science in Industrial Engineering from The Ohio State University and received a Bachelor of Technology in Metallurgical Engineering from The Indian Institute of Technology Madras. He is fluent in Hindi.
Jeremy Sutch is a Portfolio Manager at Matthews and manages the firm’s Emerging Markets ex China Strategy and co-manages the firm’s Emerging Markets Equity, Emerging Markets Small Companies, Emerging Markets Discovery, Asia Discovery, Asia ex Japan Total Return Equity and Pacific Tiger Strategies. Prior to joining Matthews in 2015, he was Director and Global Head of Emerging Companies at Standard Chartered Bank in Hong Kong from 2012 to 2015, responsible for the fundamental analysis of companies in Asia, with a particular focus on small- and mid-capitalization companies. From 2009 to 2012, he was Managing Director at MJP Capital in Hong Kong, which he co-founded. His prior experience has included managing small-cap equities at Indus Capital Advisors and serving as Head of Hong Kong Research for ABN AMRO Asia Securities. Jeremy earned an M.A. in French and History from the University of Edinburgh.
The MSCI All Country Asia ex Japan Index is a free float–adjusted market capitalization–weighted index of the stock markets of China, Hong Kong, India, Indonesia, Malaysia, Pakistan, Philippines, Singapore, South Korea, Taiwan and Thailand.
The MSCI All Country Asia Pacific Index is a free float–adjusted market capitalization–weighted index of the stock markets of Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Pakistan, Philippines, Singapore, South Korea, Taiwan and Thailand.
The MSCI China Index is a free float-adjusted market capitalization-weighted index of Chinese equities that includes H shares listed on the Hong Kong exchange, B shares listed on the Shanghai and Shenzhen exchanges, Hong Kong-listed securities known as Red chips (issued by entities owned by national or local governments in China) and P Chips (issued by companies controlled by individuals in China and deriving substantial revenues in China) and foreign listings (e.g. ADRs).
The MSCI China All Shares Index captures large and mid-cap representation across China A shares, B shares, H shares, Red chips (issued by entities owned by national or local governments in China), P chips (issued by companies controlled by individuals in China and deriving substantial revenues in China), and foreign listings (e.g. ADRs). The index aims to reflect the opportunity set of China share classes listed in Hong Kong,Shanghai, Shenzhen and outside of China.
The MSCI Emerging Markets (EM) Asia Index is a free float-adjusted market capitalization weighted index of the stock markets of China, India, Indonesia, Malaysia, Pakistan, Philippines, South Korea, Taiwan and Thailand. The MSCI Emerging Markets Index is a free float-adjusted market capitalization-weighted index of the stock markets of Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Malaysia, Mexico, Pakistan, Peru, Philippines, Poland, Qatar, Russia, Saudi Arabia, South Africa, South Korea, Taiwan, Thailand, Turkey and United Arab Emirates.
The MSCI Emerging Markets Index is a free float-adjusted market capitalization-weighted index of the stock markets of Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Malaysia, Mexico, Pakistan, Peru, Philippines, Poland, Qatar, Russia, Saudi Arabia, South Africa, South Korea, Taiwan, Thailand, Turkey and United Arab Emirates.
The MSCI Emerging Markets ex China Index is a free float-adjusted market capitalization-weighted index that captures large and mid cap representation across 23 of the 24 Emerging Markets (EM) countries excluding China: Brazil, Chile, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Kuwait, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates.
The MSCI Emerging Markets Small Cap Index is a free float-adjusted market capitalization weighted small cap index of the stock markets of Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungry, India, Indonesia, Kuwait, Malaysia, Mexico, Pakistan, Peru, Philippines, Poland, Qatar, Russia, Saudi Arabia, South Africa, South Korea, Taiwan Thailand, Turkey and United Arab Emirates.
The S&P Bombay Stock Exchange 100 (S&P BSE 100) Index is a free float–adjusted market capitalization–weighted index of 100 stocks listed on the Bombay Stock Exchange.
The MSCI Japan Index is a free float–adjusted market capitalization–weighted index of Japanese equities listed in Japan.
The Korea Composite Stock Price Index (KOSPI) is a market capitalization–weighted index of all common stocks listed on the Korea Stock Exchange.
The MSCI All Country Asia ex Japan Small Cap Index is a free float–adjusted market capitalization–weighted small cap index of the stock markets of China, Hong Kong, India, Indonesia, Malaysia, Pakistan, Philippines, Singapore, South Korea, Taiwan and Thailand.
The MSCI China Small Cap Index is a free float-adjusted market capitalization-weighted small cap index of the Chinese equity securities markets, including H shares listed on the Hong Kong exchange, B shares listed on the Shanghai and Shenzhen exchanges,Hong Kong-listed securities known as Red Chips (issued by entities owned by national or local governments in China) and P Chips (issued by companies controlled by individuals in China and deriving substantial revenues in China), and foreign listings (e.g., ADRs).
The MSCI India Index is a free float-adjusted market capitalization-weighted index of Indian equities listed in India.
The MSCI Korea Index is a free float-adjusted market capitalization-weighted index of Korean equities listed in Korea.
The MSCI Korea 25/50 Index is designed to measure the performance of the large and mid cap segments of the Korean market. It applies certain investment limits that are imposed on regulated investment companies, or RICs, under the current US Internal Revenue Code.
Indexes are for comparative purposes only and it is not possible to invest directly in an index.
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.