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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

5.76%

NAV YTD Return

(as of 05/23/2024)

$26.79

NAV

(as of 05/23/2024)

-0.07

1 Day NAV Change

(as of 05/23/2024)

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 $87.72 million (05/24/2024)
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 05/23/2024)
NAV $26.79
NAV Change -0.07
Market Price $26.51
Market Price Change -0.17
Day's Trading Volume 2,792 Shares
Median BID/ASK Spread (30 Day) 0.23% (as of 05/23/2024)
Premium Discount -1.05%
Number of days at Premium/Discount
2024 2023
Q2 Q1
Premium 14 45 62
Discount 23 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.

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 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 05/28/2024)
Ticker Name SEDOL Market Value Shares % Net Assets
TSM TAIWAN SEMICONDUCTOR MANUFACTURING CO., LTD. ADR 2113382 $9,618,880 60,118 11.0
700 TENCENT HOLDINGS, LTD. BMMV2K8 $4,834,632 100,200 5.5
005930 SAMSUNG ELECTRONICS CO., LTD. 6771720 $3,413,477 61,591 3.9
BABA ALIBABA GROUP HOLDING, LTD. ADR BP41ZD1 $2,604,464 32,051 3.0
857 PETROCHINA CO., LTD. H SHARES 6226576 $2,214,567 2,256,000 2.5
000660 SK HYNIX, INC. 6450267 $1,777,901 12,260 2.0
IBN ICICI BANK, LTD. ADR 2569286 $1,765,582 64,626 2.0
105560 KB FINANCIAL GROUP, INC. B3DF0Y6 $1,752,669 31,213 2.0
005380 HYUNDAI MOTOR CO. 6451055 $1,749,151 8,955 2.0
FPT FPT CORP. B1HMWH6 $1,676,260 323,700 1.9
3690 MEITUAN DIANPING CLASS B BGJW376 $1,674,506 112,500 1.9
KKC CUMMINS INDIA, LTD. 6294863 $1,541,272 34,486 1.8
939 CHINA CONSTRUCTION BANK CORP. H SHARES B0LMTQ3 $1,537,733 2,068,000 1.8
BHARTI BHARTI AIRTEL, LTD. 6442327 $1,423,397 85,186 1.6
CPALL/F CP ALL PCL-FOREIGN B08YDF9 $1,376,349 863,100 1.6
2318 PING AN INSURANCE GROUP CO. OF CHINA, LTD. H SHARES B01FLR7 $1,321,210 245,500 1.5
MM MAHINDRA & MAHINDRA, LTD. 6100186 $1,281,904 41,292 1.5
600309 WANHUA CHEMICAL GROUP CO., LTD. A SHARES BP3R3S1 $1,215,448 99,500 1.4
BDMS/F BANGKOK DUSIT MED SERVICE BLZGSM7 $1,164,185 1,485,500 1.3
600036 CHINA MERCHANTS BANK CO., LTD. A SHARES BP3R273 $1,149,541 240,300 1.3
AXSB AXIS BANK, LTD. BPFJHC7 $1,088,603 77,053 1.2
3711 ASE TECHNOLOGY HOLDING CO BFXZDY1 $1,087,455 220,000 1.2
2345 ACCTON TECHNOLOGY CORP 6005214 $983,761 62,000 1.1
2454 MEDIATEK, INC. 6372480 $925,840 25,000 1.1
PDD PDD HOLDINGS INC BYVW0F7 $901,143 5,719 1.0
UTCEM ULTRATECH CEMENT, LTD. B01GZF6 $892,755 7,251 1.0
SHFL SHRIRAM TRANSPORT FINANCE CO., LTD. 6802608 $890,247 30,856 1.0
JSW JSW ENERGY LTD B4X3ST8 $884,305 122,340 1.0
IH INDIAN HOTELS CO LTD B1FRT61 $883,328 128,810 1.0
TTMT TATA MOTORS, LTD. B611LV1 $879,779 76,110 1.0
TCS TATA CONSULTANCY SERVICES, LTD. B01NPJ1 $874,247 18,872 1.0
TTAN TITAN CO., LTD. 6139340 $874,192 21,288 1.0
1299 AIA GROUP, LTD. B4TX8S1 $866,500 112,000 1.0
SE SEA, LTD. ADR BYWD7L4 $865,272 12,021 1.0
300760 SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO., LTD. A SHARES BHQK864 $852,796 20,500 1.0
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD. A SHARES BHQPSY7 $849,634 30,700 1.0
000810 SAMSUNG FIRE & MARINE INSURANCE CO., LTD. 6155250 $849,547 3,473 1.0
388 HONG KONG EXCHANGES & CLEARING, LTD. 6267359 $848,634 24,200 1.0
000858 WULIANGYE YIBIN CO., LTD. A SHARES BD5CPG2 $842,954 40,500 1.0
1216 UNI-PRESIDENT ENTERPRISES 6700393 $838,360 342,000 1.0
PWGR POWER GRID CORP. OF INDIA, LTD. B233HS6 $818,535 213,357 0.9
BPI BANK OF THE PHILIPPINE ISLANDS 6074968 $816,364 386,230 0.9
YTLP YTL POWER INTERNATIONAL B B01GQS6 $810,869 771,800 0.9
BBCA PT BANK CENTRAL ASIA B01C1P6 $802,267 1,361,300 0.9
000333 MIDEA GROUP CO., LTD. A SHARES BD5CPP1 $800,866 87,300 0.9
SCI SEMBCORP INDUSTRIES LTD B08X163 $775,927 206,600 0.9
8069 E INK HOLDINGS INC 6744283 $654,239 93,000 0.7
9961 TRIP.COM GROUP LTD BNYK8H9 $652,219 12,552 0.7
2628 CHINA LIFE INSURANCE CO., LTD. H SHARES 6718976 $645,273 428,000 0.7
ZOMATO ZOMATO LTD BL6P210 $644,959 293,026 0.7
LPC LUPIN, LTD. 6143761 $639,290 32,907 0.7
UNBK UNION BANK OF INDIA 6579634 $590,987 313,799 0.7
051910 LG CHEM, LTD. 6346913 $578,557 2,011 0.7
2317 HON HAI PRECISION INDUSTR 6438564 $539,978 99,000 0.6
267260 HD HYUNDAI ELECTRIC CO LT BD4HFR9 $486,648 2,355 0.6
2020 ANTA SPORTS PRODUCTS, LTD. B1YVKN8 $467,115 42,000 0.5
5274 ASPEED TECHNOLOGY INC B80VKP3 $458,039 4,000 0.5
2382 QUANTA COMPUTER INC 6141011 $443,938 50,000 0.5
2383 ELITE MATERIAL CO., LTD. 6316121 $440,266 33,000 0.5
TME TENCENT MUSIC ENTERTAINMENT GROUP ADR BFZYWR2 $437,621 29,569 0.5
2688 ENN ENERGY HOLDINGS, LTD. 6333937 $437,412 45,600 0.5
3661 ALCHIP TECHNOLOGIES, LTD. B4TPSL0 $436,965 5,000 0.5
009150 SAMSUNG ELECTRO-MECHANICS 6771689 $435,617 3,812 0.5
3231 WISTRON CORP 6672481 $434,796 122,000 0.5
1801 INNOVENT BIOLOGICS, INC. BGR6KX5 $413,515 90,000 0.5
207940 SAMSUNG BIOLOGICS CO., LTD. BYNJCV6 $413,475 754 0.5
GCPL GODREJ CONSUMER PRODUCTS B1BDGY0 $410,210 26,014 0.5
3037 UNIMICRON TECHNOLOGY CORP 6137720 $410,004 70,000 0.5
300308 ZHONGJI INNOLIGHT CO LTD- BFFJRM7 $394,000 17,300 0.4
SM SM INVESTMENTS CORP B068DB9 $391,858 25,450 0.4
BEKE KE HOLDINGS INC-ADR BMBX7M2 $390,944 23,466 0.4
300274 SUNGROW POWER SUPPLY CO L BD5CGB4 $378,857 27,200 0.4
688777 SUPCON TECHNOLOGY CO LTD- BQ3RXP5 $368,448 64,027 0.4
300124 SHENZHEN INOVANCE TECHNOLOGY CO., LTD. A SHARES BD5CMN8 $338,878 41,500 0.4
960 LONGFOR GROUP HOLDINGS LT B56KLY9 $252,629 146,000 0.3
006400 SAMSUNG SDI CO., LTD. 6771645 $251,815 860 0.3
EDU NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP, INC. ADR BMCMBJ3 $238,969 3,059 0.3
028260 CHEIL INDUSTRIES, INC. BSXN8K7 $237,881 2,337 0.3
CASH CASH AND OTHERS $6,136,107 7.0
CURR CNY $3,871 0.0
CURR HKD $11,039 0.0
CURR INR $-722,986 -0.8
CURR KRW $138,096 0.2
CURR MYR $216,657 0.2
CURR TWD $-293,549 -0.3
TOTAL 35.8

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.