Fund Evaluator:
Matthews EM Sm Coms Instl (MISMX)
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Best Performing in Diversified Emerging Mkts Over the Last Year
| 65.7% | Invesco Emerging Markets ex-China Y (GTDYX) |
| 64.1% | WCM Focused Emerging Mkts Ex Chn Inv (WCFEX) |
| 52.6% | Matthews Emerging Markets Sust Fut Inv (MASGX) |
| 48.9% | LSV Emerging Markets Equity Inv (LVAZX) |
| 47.7% | Lazard Emerging Markets Equity Instl (LZEMX) |
Fund Details
Matthews EM Sm Coms Instl Overview
Matthews EM Sm Coms Instl (MISMX) is an actively managed International Equity Diversified Emerging Mkts fund. Matthews Asia Funds launched the fund in 2013.
The investment seeks long-term capital appreciation. 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 the common and preferred stocks of small 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.
About Matthews EM Sm Coms Instl (MISMX)
There are 1 members of the management team with an average tenure of 5.34 years: Jeremy Sutch (2021). Management tenure is more important for actively managed funds than passive index funds.
The fund 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 EM Sm Coms Instl has 84 securities in its portfolio. The top 10 holdings constitute 31.0% 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 EM Sm Coms Instl is part of the Equity global asset class and is within the International Equity fund group. Matthews EM Sm Coms Instl has 94.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 3.1%. There is 94.5% 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 EM Sm Coms Instl has 2.4% of the portfolio in cash.
Assets Under Management
The fund has $259 million in total assets, which is below the $992 million 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.
MISMX 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 EM Sm Coms Instl expense ratio is high compared to funds in the Diversified Emerging Mkts category. Matthews EM Sm Coms Instl has an expense ratio of 1.15%, which is the same as its category average, making the fund expense ratio grade a C. 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 EM Sm Coms Instl has a portfolio turnover rate of 35%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 68% for the Diversified Emerging Mkts category.
Recently, in the month of August 2026, Matthews EM Sm Coms Instl returned 7.0%, which earned it a grade of A, as the Diversified Emerging Mkts category had an average return of 3.9%. 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 EM Sm Coms Instl has a trailing yield of 1.41%, which is below the 1.65% 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 EM Sm Coms Instl Grades
Year to date, the fund has returned 22.4%, 1.3 percentage points worse than the category, which translates into a grade of D. The fund has returned 21.4% over the past year (grade of F), 10.6% over the past three years (grade of F) and 5.9% per year over the past five years (grade of D) and 10.6% per year over the past 10 years (grade of A).
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MISMX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MISMX Return (NAV) | 7.0% | -1.4% | 21.4% | 10.6% | 5.9% | 10.6% |
| MISMX Grade | A | C | F | F | D | A |
| +/- Category | 3.1% | -0.2% | -16.2% | -11.1% | -0.9% | 1.7% |
| Diversified Emerging Mkts Avg | 3.9% | -1.2% | 37.5% | 21.7% | 6.8% | 8.9% |
| MISMX Tax Cost Ratio | na | na | 0.7% | 1.5% | 1.7% | 1.7% |
MISMX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MISMX Return (NAV) | 22.4% | 13.8% | -5.8% | 20.1% | -16.7% | 22.4% | 43.9% | 17.7% | -17.9% | 30.8% | -1.2% |
| MISMX Grade | D | F | F | A | A | A | A | F | D | D | F |
| +/- Category | -1.3% | -17.7% | -12.1% | 8.0% | 6.0% | 22.6% | 22.3% | -4.2% | -1.5% | -5.8% | -9.8% |
| Diversified Emerging Mkts Avg | 23.7% | 31.4% | 6.2% | 12.1% | -22.6% | -0.2% | 21.6% | 21.9% | -16.4% | 36.7% | 8.6% |
| Risk Measures | |
| Standard Deviation: | 18.7% |
| Total Risk Index: | 1.53 - High |
| Category Risk Index: | 1.15 - High |
| Category Risk Grade: | F (89% Rank) |
| Beta: | 1.11 |
| R-Squared: | 63% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 1.4% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $403 Mil |
| Fund Total Assets: | $ 259 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 36% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 5.3 years | |||
| Average Tenure: 5.3 years | |||
| Managers (Year): Sutch Jeremy (2021) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 84 |
| % in Top 10 Holdings: | 31.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 94.5% |
Portfolio Allocation |
|
| Domestic Stock: | 3.1% |
| Foreign Stock: | 94.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.4% |
Purchase Information
| Fund Family: | Matthews Asia Funds |
| Phone Number: | 800-789-2742 |
| Website: | www.matthewsasia.com/ |
| Status: | Open |
| Inception Date: | April 30, 2013 |
| Min. Initial Purchase: | $100,000 |
| Min. Initial IRA Purchase: | $ 0 |
| 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 (%): | 1.15% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.15% |
| Share Class: | Matthews EM Sm Coms Inv |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
