Matthews Emerging Markets Discovery Active ETF (MEMS) Performance
MEMS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +11.0% since Dec 31, 2025
- 1 year
- +7.9% total return
- Since first price
- +16.3% since 2024
MEMS trailing returns vs SPY, QQQ, AGG
| Period | MEMS total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −7.3% | −7.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −3.7% | −3.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −5.1% | −5.1% | +7.8% | +8.4% | −1.5% |
| YTD | +11.0% | +11.0% | +12.3% | +15.1% | −1.0% |
| 1 year | +7.9% | +4.9% | +14.4% | +15.9% | −1.1% |
| Since inceptionJan 11, 2024 | +16.3% | +11.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: MEMS vs SPY
From Jan 11, 2024: MEMS grew to $11,633, SPY to $16,476.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MEMS returns by calendar year
1 of 1 full years positive. Best 2025 (+11.1%), worst 2025 (+11.1%). 2026 is year to date.
MEMS annual returns table
| Year | MEMS | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +11.0% | −13.3% | +12.3% | +15.1% | −1.0% |
| 2025 | +11.1% | −14.1% | +17.7% | +20.8% | +7.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
MEMS largest drawdowns
Now 12.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 7, 2024 | −22.2% | Apr 8, 2025 | Sep 8, 2025 | 6 months | 11 months |
| Jun 15, 2026 | −13.3% | Jul 29, 2026 | not yet | 44 days | 4 months so far |
| Feb 25, 2026 | −13.0% | Mar 30, 2026 | Apr 15, 2026 | 33 days | 49 days |
| Mar 1, 2024 | −10.2% | Aug 5, 2024 | Sep 26, 2024 | 5 months | 7 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
MEMS risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +8.7% |
| Volatility (annualized) | 16.6% |
| Sharpe ratio | 0.33 |
| Sortino ratio | 0.55 |
| Best month | +16.1% |
| Worst month | −8.8% |
| Best 12 months | +33.4% |
| Worst 12 months | −10.3% |
| Positive months | 62% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
MEMS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 22 | −10.3% | +8.6% | +33.4% | 77% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
MEMS performance overview
Matthews Emerging Markets Discovery Active ETF (MEMS) returned +7.9% over the past year, with distributions reinvested. Since its first recorded price on Jan 11, 2024 it has returned +16.3%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −22.2%, from Oct 7, 2024 to Apr 8, 2025, and it took 5 months to get back to the old high. Volatility has been 16.6% a year.
Related: MEMS chart, MEMS holdings, MEMS dividends. See the MEMS overview for the latest quote and fund facts.
MEMS performance FAQ
What is the MEMS return over the past year?
MEMS returned +7.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 4.9%.
How much would $10,000 invested in MEMS be worth?
$10,000 invested in MEMS at its first recorded close on January 11, 2024 would be worth about $11,633 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of MEMS?
The largest peak-to-trough decline was −22.2% between October 7, 2024 and April 8, 2025. It recovered to the old high on September 8, 2025, 5 months after the bottom.
How volatile is MEMS?
Over the past history MEMS had an annualized volatility of 16.6% and a Sharpe ratio of 0.33 (excess return over 1–3 month T-bills per unit of risk).