ETF Evaluator:
Matthews Emerging Markets Discv Actv ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Diversified Emerging Mkts Over the Last Year
| 114.0% | Nomura Focused Emerging Mrkts Eq ETF (EMEQ) |
| 81.0% | FT EM Human Flourishing ETF (FTHF) |
| 68.7% | First Trust Bloomberg Emr Mkt Dem ETF (EMDM) |
| 67.8% | Freedom 100 Emerging Markets ETF (FRDM) |
| 59.4% | Pacific NoS Global EM Equity Active ETF (GEME) |
Risk
Index
Risk
Index
ETF Details
Matthews Emerging Markets Discv Actv ETF Overview
Matthews Emerging Markets Discv Actv ETF (MEMS) is an actively managed International Equity Diversified Emerging Mkts exchange-traded fund (ETF). Matthews Asia Funds launched the ETF in 2024.
The investment seeks long-term capital appreciation.
Under normal circumstances, the Matthews Emerging Markets Discovery Active ETF seeks to achieve its investment objective by investing at least 65% of its net assets, which include borrowings for investment purposes, in the common and preferred stocks of small companies. In addition, at least 80% of the fund’s net assets, which includes borrowings for investment purposes, will be invested in the common and preferred stocks of companies located in emerging market countries, such as China and India. The fund is non-diversified.
About Matthews Emerging Markets Discv Actv ETF (MEMS)
There are 1 members of the management team with an average tenure of 2.56 years: Jeremy Sutch (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: MSCI EM NR USD index with a weighting of 100% and MSCI EM Small NR USD index with a weighting of 100%. Matthews Emerging Markets Discv Actv ETF has 86 securities in its portfolio. The top 10 holdings constitute 23.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Matthews Emerging Markets Discv Actv ETF is part of the Equity global asset class and is within the International Equity ETF group. Matthews Emerging Markets Discv Actv ETF has 87.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 2.2% There is 87.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Matthews Emerging Markets Discv Actv ETF has 10.3% of the portfolio in cash.
Assets Under Management
The fund has $20 million in total assets, which is below the $3 billion average for the Diversified Emerging Mkts category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
MEMS Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Matthews Emerging Markets Discv Actv ETF expense ratio is high compared to funds in the Diversified Emerging Mkts category. Matthews Emerging Markets Discv Actv ETF has an expense ratio of 0.89%, which is 72% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Matthews Emerging Markets Discv Actv ETF has a portfolio turnover rate of 42%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 44% for the Diversified Emerging Mkts category.
Recently, in the month of July 2026, Matthews Emerging Markets Discv Actv ETF returned -7.3%, which earned it a grade of F, as the Diversified Emerging Mkts category had an average return of -3.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Matthews Emerging Markets Discv Actv ETF has a trailing yield of 2.46%, which is above the 2.41% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Matthews Emerging Markets Discv Actv ETF Grades
Year to date, the ETF has returned 14.2%, 2.9 percentage points worse than the category, which translates into a grade of D. The fund has returned 16.1% over the past year (grade of F).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Matthews Emerging Markets Discv Actv ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
MEMS Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MEMS Return (NAV) | -7.3% | -3.9% | 16.1% | na | na | na |
| MEMS Return (Price) | -9.1% | -5.2% | 15.7% | na | na | na |
| NAV +/- Price Return | 1.706% | 1.322% | 0.382% | na | na | na |
| Diversified Emerging Mkts Avg | -3.0% | 3.0% | 31.9% | 16.6% | 7.1% | 7.8% |
| MEMS Grade (NAV) | F | F | F | na | na | na |
| +/- Category (NAV) | -4.3% | -6.9% | -15.8% | na | na | na |
| MEMS Tax-Cost Ratio | na | na | 1.2% | na | na | na |
MEMS Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MEMS Return (NAV) | 14.2% | 11.1% | na | na | na | na | na | na | na | na | na |
| MEMS Return (Price) | 13.0% | 11.4% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.088% | 0.024% | na | na | na | na | na | na | na | na | na |
| Diversified Emerging Mkts Avg | 17.1% | 29.2% | 6.7% | 12.8% | -18.8% | 2.3% | 12.7% | 18.2% | -14.6% | 33.7% | 10.9% |
| MEMS Grade (NAV) | D | F | na | na | na | na | na | na | na | na | na |
| +/- Category | -2.9% | -18.1% | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 2.5% |
| Total Assets: | $ 21 Mil |
| Share Class Assets: | $ 21 Mil |
| Turnover: | 42.4% |
| Expense Ratio: | 0.89% |
| Index Fund: | No |
| Index Tracked: | MSCI EM NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 2.6 years | |||
| Average Tenure: 2.6 years | |||
| Managers (Year): Sutch Jeremy (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 86 |
| % in Top 10 Holdings: | 23.9% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 87.5% |
Portfolio Allocation |
|
| Domestic Stock: | 2.2% |
| Foreign Stock: | 87.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 10.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Matthews Asia Funds |
| Phone Number: | 833-228-5605 |
| Website: | www.matthewsasia.com/ |
| Inception Date: | January 10, 2024 |
Expenses and Fees
| Expense Ratio (%): | 0.89% (Rating: High) |
| Category Average Expense Ratio (%): | 0.52% |
