Fund Evaluator:
Matthews Asia Dividend Investor (MAPIX)
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Best Performing in Focused Region Over the Last Year
| 49.6% | Fidelity Pacific Basin (FPBFX) |
| 45.7% | Vanguard Pacific Stock Index Admiral (VPADX) |
| 33.7% | Matthews Asia Dividend Investor (MAPIX) |
| 23.2% | T. Rowe Price Latin America Z (TRZYX) |
| 21.4% | T. Rowe Price Latin America (PRLAX) |
Fund Details
Matthews Asia Dividend Investor Overview
Matthews Asia Dividend Investor (MAPIX) is an actively managed International Equity Focused Region fund. Matthews Asia Funds launched the fund in 2006.
The investment seeks total return with an emphasis on providing current income. Under normal circumstances, the fund seeks to achieve its investment objective by investing at least 80% of its net assets, which include borrowings for investment purposes, in dividend-paying equity securities of companies located in Asia.
About Matthews Asia Dividend Investor (MAPIX)
There are 2 members of the management team with an average tenure of 1.32 years: Sojung Park (2025), Sean Taylor (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI AC Asia Pacific NR USD index with a weighting of 100%. Matthews Asia Dividend Investor has 76 securities in its portfolio. The top 10 holdings constitute 36.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Matthews Asia Dividend Investor is part of the Equity global asset class and is within the International Equity fund group. Matthews Asia Dividend Investor has 94.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 94.0% 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 Asia Dividend Investor has 5.2% of the portfolio in cash.
Assets Under Management
The fund has $368 million in total assets, which is below the $957 million average for the Focused Region 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.
MAPIX 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 Asia Dividend Investor expense ratio is high compared to funds in the Focused Region category. Matthews Asia Dividend Investor has an expense ratio of 1.21%, which is 18% higher than its category average, making the fund expense ratio grade a D. 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 Asia Dividend Investor has a portfolio turnover rate of 56%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 36% for the Focused Region category.
Recently, in the month of June 2026, Matthews Asia Dividend Investor returned -1.4%, which earned it a grade of B, as the Focused Region category had an average return of -2.2%. 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 funds in that category.
Matthews Asia Dividend Investor has a trailing yield of 2.43%, which is above the 2.42% category average. The fund normally distributes its income quarterly 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 Asia Dividend Investor Grades
Year to date, the fund has returned 18.6%, 4.1 percentage points better than the category, which translates into a grade of B. The fund has returned 33.7% over the past year (grade of C), 17.5% over the past three years (grade of C) and 2.2% per year over the past five years (grade of F) and 6.7% per year over the past 10 years (grade of D).
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MAPIX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MAPIX Return (NAV) | -1.4% | 10.9% | 33.7% | 17.5% | 2.2% | 6.7% |
| MAPIX Grade | B | B | C | C | F | D |
| +/- Category | 0.8% | 2.1% | 4.3% | -1.7% | -4.4% | -2.0% |
| Focused Region Avg | -2.2% | 8.8% | 29.4% | 19.2% | 6.6% | 8.7% |
| MAPIX Tax Cost Ratio | na | na | 1.2% | 0.9% | 1.4% | 1.3% |
MAPIX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MAPIX Return (NAV) | 18.6% | 26.9% | 5.9% | 4.7% | -29.6% | -2.8% | 31.2% | 11.2% | -12.7% | 34.7% | 4.1% |
| MAPIX Grade | B | D | C | D | F | D | A | F | C | A | F |
| +/- Category | 4.1% | -9.4% | 3.4% | -14.5% | -11.8% | -13.4% | 22.9% | -12.7% | -0.9% | 8.6% | -10.6% |
| Focused Region Avg | 14.5% | 36.3% | 2.5% | 19.2% | -17.8% | 10.6% | 8.4% | 23.9% | -11.8% | 26.1% | 14.7% |
| Risk Measures | |
| Standard Deviation: | 13.5% |
| Total Risk Index: | 1.11 - Above Average |
| Category Risk Index: | 0.80 - Below Average |
| Category Risk Grade: | B (31% Rank) |
| Beta: | 0.90 |
| R-Squared: | 85% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 2.4% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $718 Mil |
| Fund Total Assets: | $ 368 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 57% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.3 years | |||
| Average Tenure: 1.3 years | |||
| Managers (Year): Park Sojung (2025), Taylor Sean (2025) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 76 |
| % in Top 10 Holdings: | 36.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 94.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 94.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.8% |
| Cash: | 5.2% |
Purchase Information
| Fund Family: | Matthews Asia Funds |
| Phone Number: | 800-789-2742 |
| Website: | www.matthewsasia.com/ |
| Status: | Open |
| Inception Date: | October 31, 2006 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $ 500 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.21% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.03% |
| Share Class: | Matthews Asia Dividend Investor |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 50 |
