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Matthews Emerging Markets Sustainable Future Active ETF
EMSF

Snapshot
  • Unconstrained strategy focused on companies that make a positive environmental, social and economic impact in emerging markets
  • All-cap portfolio with diversified emerging and frontier market exposures
  • Deep bottom-up fundamental approach that seeks to generate attractive long-term risk-adjusted returns by investing in well-governed companies

09/21/2023

Inception Date

3.77%

NAV YTD Return

(as of 07/16/2024)

$26.71

NAV

(as of 07/16/2024)

-0.03

1 Day NAV Change

(as of 07/16/2024)

Objective

Long-term capital appreciation

Strategy

Under normal circumstances, the Matthews Emerging Markets Sustainable Future 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 of any market capitalization located in emerging market countries that satisfy one or more of the Fund’s environmental, social and governance (“ESG”) standards. 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.

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. Matthews Emerging Markets Sustainable Future Active ETF’s consideration of ESG factors in making its investment decisions may impact the Fund’s relative investment performance positively or negatively.

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 $23.89 million (07/17/2024)
Currency USD
Ticker EMSF
Cusip 577-130-628
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 07/16/2024)
NAV $26.71
NAV Change -0.03
Market Price $26.94
Market Price Change +0.22
Day's Trading Volume 225 Shares
Median BID/ASK Spread (30 Day) 0.38% (as of 07/16/2024)
Premium Discount +0.86%
Number of days at Premium/Discount
2024 2023
Q3 Q2 Q1
Premium 10 56 58 63
Discount 1 4 3 6

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
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As of 06/30/2024
Average Annual Total Returns
Name 1MO 3MO YTD 1YR 3YR 5YR 10YR Since Inception Inception Date
Matthews Emerging Markets Sustainable Future Active ETF - EMSF
09/21/2023
NAV
1.17% 0.39% 0.62% n.a. n.a. n.a. n.a. 3.62%
Market Price
0.31% -0.12% 0.51% n.a. n.a. n.a. n.a. 3.70%
MSCI Emerging Markets Index
4.01% 5.12% 7.68% n.a. n.a. n.a. n.a. 15.88%
As of 06/30/2024
Average Annual Total Returns
Name 1MO 3MO YTD 1YR 3YR 5YR 10YR Since Inception Inception Date
Matthews Emerging Markets Sustainable Future Active ETF - EMSF
09/21/2023
NAV
1.17% 0.39% 0.62% n.a. n.a. n.a. n.a. 3.62%
Market Price
0.31% -0.12% 0.51% n.a. n.a. n.a. n.a. 3.70%
MSCI Emerging Markets Index
4.01% 5.12% 7.68% n.a. n.a. n.a. n.a. 15.88%

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 07/18/2024)
Ticker Name SEDOL Market Value Shares % Net Assets
3690 MEITUAN DIANPING CLASS B BGJW376 $1,644,210 107,800 6.9
SHFL SHRIRAM TRANSPORT FINANCE CO., LTD. 6802608 $1,575,329 46,748 6.6
BANDHAN BANDHAN BANK, LTD. BG1SV45 $1,403,452 591,205 5.9
YMM FULL TRUCK ALLIANCE -SPN BMD2L36 $1,335,771 168,658 5.6
LEGN LEGEND BIOTECH CORP-ADR BMX9K07 $1,126,345 20,479 4.7
6618 JD HEALTH INTERNATIONAL I BMW8R04 $945,828 340,350 4.0
MU MICRON TECHNOLOGY, INC. 2588184 $918,358 7,685 3.8
388 HONG KONG EXCHANGES & CLEARING, LTD. 6267359 $880,683 28,300 3.7
PHNX PHOENIX MILLS LTD B0SXY97 $872,333 17,887 3.7
INDUSTO BHARTI INFRATEL, LTD. B92P9G4 $840,619 172,708 3.5
LRCX LAM RESEARCH CORP 2502247 $631,895 653 2.6
006400 SAMSUNG SDI CO., LTD. 6771645 $604,416 2,345 2.5
MM MAHINDRA & MAHINDRA, LTD. 6100186 $576,390 17,477 2.4
TADAWUL SAUDI TADAWUL GROUP HOLDI BMZQ749 $557,857 8,675 2.3
1590 AIRTAC INTERNATIONAL GROUP B52J816 $535,956 18,000 2.2
INPST INPOST SA BN4N9C0 $508,295 29,007 2.1
2383 ELITE MATERIAL CO., LTD. 6316121 $495,336 35,000 2.1
6643 M31 TECHNOLOGY CORP BF0N865 $484,676 10,800 2.0
YDUQ3 YDUQS PARTICIPACOES SA BJGV3C2 $473,521 217,400 2.0
B3SA3 B3 SA-BRASIL BOLSA BALCAO BG36ZK1 $461,203 219,300 1.9
6533 ANDES TECHNOLOGY CORP BWT3K58 $446,553 35,000 1.9
336370 SOLUS ADVANCED MATERIALS BJVLVG7 $437,181 34,231 1.8
084370 EUGENE TECHNOLOGY CO., LTD. B0TBHH9 $427,608 12,593 1.8
TLV BANCA TRANSILVANIA SA 5393307 $404,660 55,660 1.7
INXW INOX WIND LTD BWFGTS7 $386,637 194,117 1.6
6865 FLAT GLASS GROUP CO LTD-H BYQ9774 $383,572 266,000 1.6
JMT JERONIMO MARTINS B1Y1SQ7 $328,681 15,364 1.4
2192 MEDLIVE TECHNOLOGY CO LTD BN7RMD1 $308,660 309,000 1.3
MRCO MARICO, LTD. B1S34K5 $302,631 37,906 1.3
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD. A SHARES BHQPSY7 $293,378 11,800 1.2
ZH ZHIHU INC - ADR BQSB1R0 $290,685 90,556 1.2
5904 POYA INTERNATIONAL CO., LTD. 6541826 $285,137 18,180 1.2
NU NU HOLDINGS LTD/CAYMAN IS BN6NP19 $270,455 20,458 1.1
6415 SILERGY CORP. BH4DMW9 $269,081 18,000 1.1
6146 SPORTON INTERNATIONAL, INC. 6431381 $260,534 35,000 1.1
HIK HIKMA PHARMACEUTICALS PLC B0LCW08 $253,745 10,530 1.1
300763 GINLONG TECHNOLOGIES CO L BMQBTQ9 $232,997 28,400 1.0
BBRI PT BANK RAKYAT INDONESIA PERSERO 6709099 $191,878 649,000 0.8
1801 INNOVENT BIOLOGICS, INC. BGR6KX5 $187,079 35,500 0.8
FROTO FORD OTOMOTIV SANAYI AS B03MSR5 $181,687 5,709 0.8
6531 AP MEMORY TECHNOLOGY CORP BWY5316 $176,906 15,000 0.7
AGUAS/A AGUAS ANDINAS SA-A 2311238 $154,266 520,759 0.6
586 CHINA CONCH VENTURE HOLDINGS, LTD. BH7HM06 $123,740 132,000 0.5
247540 ECOPRO BM CO LTD BJ321P7 $123,377 952 0.5
UNOMIND MINDA INDUSTRIES, LTD. BYVC6Y8 $90,303 7,392 0.4
006405 SAMSUNG SDI CO., LTD., PFD. 6776059 $88,117 547 0.4
300012 CENTRE TESTING INTERNATIONAL GROUP CO., LTD. A SHARES B4VM756 $88,034 56,300 0.4
121600 ADVANCED NANO PRODUCTS CO B404429 $87,215 1,181 0.4
3532 FORMOSA SUMCO TECHNOLOGY B1HKJZ7 $81,790 15,000 0.3
2269 WUXI BIOLOGICS CAYMAN, INC. BL6B9P1 $41,170 28,500 0.2
NLG NAM LONG INVESTMENT CORP. B9FCRR9 $20,233 12,200 0.1
CASH CASH AND OTHERS $-203,245 -0.9
CURR CNY $754 0.0
CURR EUR $46 0.0
TOTAL 48.3

Portfolio Breakdown (%)

(as of 06/30/2024)
  • Sector Allocation
  • Country Allocation
  • Market Cap Exposure
Sector Fund Benchmark Difference
Financials 24.1 21.9 2.2
Information Technology 23.9 25.1 -1.2
Industrials 16.2 6.9 9.3
Consumer Discretionary 13.3 12.3 1.0
Health Care 7.1 3.2 3.9
Consumer Staples 6.3 5.2 1.1
Communication Services 4.6 8.9 -4.3
Real Estate 3.4 1.5 1.9
Utilities 0.8 3.0 -2.2
Materials 0.4 6.9 -6.5
Energy 0.0 5.2 -5.2
Liabilities in Excess of Cash and Other Assets -0.1 0.0 -0.1

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 38.2 25.2 13.0
India 25.7 19.2 6.5
Taiwan 9.1 19.3 -10.2
South Korea 7.8 12.2 -4.4
Brazil 4.6 4.2 0.4
United States 4.3 0.0 4.3
Poland 3.5 1.0 2.5
Saudi Arabia 2.5 3.9 -1.4
Romania 1.6 0.0 1.6
Jordan 1.1 0.0 1.1
Turkey 0.8 0.8 0.0
Chile 0.6 0.4 0.2
Estonia 0.2 0.0 0.2
Vietnam 0.1 0.0 0.1
South Africa 0.0 3.0 -3.0
Mexico 0.0 2.1 -2.1
Indonesia 0.0 1.6 -1.6
Malaysia 0.0 1.4 -1.4
Thailand 0.0 1.3 -1.3
United Arab Emirates 0.0 1.1 -1.1
Qatar 0.0 0.8 -0.8
Kuwait 0.0 0.7 -0.7
Greece 0.0 0.5 -0.5
Philippines 0.0 0.5 -0.5
Peru 0.0 0.3 -0.3
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
Liabilities in Excess of Cash and Other Assets -0.1 0.0 -0.1

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

Equity market cap of issuer Fund Benchmark Difference
Mega Cap (over $25B) 22.7 57.4 -34.7
Large Cap ($10B-$25B) 17.9 22.1 -4.2
Mid Cap ($3B-$10B) 40.3 19.7 20.6
Small Cap (under $3B) 19.2 0.8 18.4
Liabilities in Excess of Cash and Other Assets -0.1 0.0 -0.1

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 06/30/2024)
Fund Benchmark
Number of Positions 51 1,330
Weighted Average Market Cap $26.4 billion $157.1 billion
Active Share 97.5 n.a.
P/E using FY1 estimates 17.7x 12.9x
P/E using FY2 estimates 13.9x 11.2x
Price/Cash Flow 11.3 8.2
Price/Book 2.5 1.8
Return On Equity 13.3 15.9
EPS Growth (3 Yr) 27.1% 18.8%

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 $0.00566 $0.00000 $0.00000 $0.00566 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.

Portfolio Managers

Vivek  Tanneeru photo
Vivek Tanneeru

Lead Manager

Inbok  Song photo
Inbok Song

Co-Manager

Alex  Zarechnak photo
Alex Zarechnak

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.