Fund Performance Analysis

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Fund Information (Dec 2009 - Aug 2020)

Fund information
NameMatthews China Dividend Investor (MCDFX)
Asset ClassInternational Equity
CategoryChina Region
Fund BenchmarkMSCI China NR USD
Selected BenchmarkiShares China Large-Cap ETF (FXI)
Price/Earnings (TTM)14.78
Yield (TTM)2.12%
Assets349.87 M
Expense Ratio1.15%
Inception Date11/30/2009

Performance Summary

Fund performance summary
PortfolioInitial BalanceFinal BalanceCAGRStdevBest YearWorst YearMax. DrawdownSharpe RatioSortino RatioUS Mkt Correlation
Matthews China Dividend Investor$10,000$29,362 10.54% 15.76%37.69%-14.44%-24.98% 0.681.010.65
iShares China Large-Cap ETF$10,000$13,080 2.53% 20.75%36.22%-17.56%-39.42%

Trailing Returns

Trailing Returns
Name3 MonthYTD1 year3 year5 year10 yearFull
Matthews China Dividend Investor18.53%13.99%20.21%9.53%13.71%10.35%10.54%
iShares China Large-Cap ETF13.52%1.60%15.42%2.51%6.95%3.65%2.53%
Trailing returns are for full months ending in August 2020 excluding portfolio cashflows.
Notes on results:
  • Past performance is no guarantee of future results, which may vary. All use is subject to terms of service.
  • Investing involves risk, including possible loss of principal. The value of the investments and the income derived from them may fluctuate over time.
  • All portfolio returns presented are hypothetical and backtested. Hypothetical returns do not reflect trading costs, transaction fees, or taxes.
  • The results are based on information from a variety of sources we consider reliable, but we do not represent that the information is accurate or complete.
  • The results do not constitute investment advice or recommendation, are provided solely for informational purposes, and are not an offer to buy or sell any securities.
  • The results are based on the total return of assets and assume that all received dividends and distributions are reinvested.
  • Fund fundamentals data as of 09/28/2020. (c) 2020 Morningstar. All Rights Reserved. The fund fundamentals information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
  • Displayed expense ratio is the prospectus net expense ratio
  • CAGR = Compound Annual Growth Rate
  • Stdev = Annualized standard deviation of monthly returns
  • Sharpe and Sortino ratios are calculated and annualized from monthly excess returns over risk free rate (3-month treasury bill)
  • Stock market correlation is based on the correlation of monthly returns
  • Drawdowns are calculated based on monthly returns

Up vs. Down Market Performance

Matthews China Dividend Investor vs. iShares China Large-Cap ETF

Up vs. Down Market Performance - Matthews China Dividend Investor vs. iShares China Large-Cap ETF
Market TypeOccurrencesAverage Active Return
Above BenchmarkBelow BenchmarkTotal% Above BenchmarkAbove BenchmarkBelow BenchmarkTotal
Up Market27497636%1.85%-2.48%-0.94%
Down Market4585385%3.52%-1.90%2.70%

Holdings Based Style Analysis for Matthews China Dividend Investor

Holdings Based Style Analysis for Matthews China Dividend Investor
TickerNameCategoryWeightERP/EReturn ContributionRisk Contribution
MCDFXMatthews China Dividend InvestorChina Region100.00%1.15%14.78$19,362100.00%

Asset Allocation

Equity Market Capitalization

Equity Sectors

Holdings Based Style Analysis for iShares China Large-Cap ETF

Holdings Based Style Analysis for iShares China Large-Cap ETF
TickerNameCategoryWeightERP/EReturn ContributionRisk Contribution
FXIiShares China Large-Cap ETFChina Region100.00%0.74%9.66$3,080100.00%

Asset Allocation

Equity Market Capitalization

Equity Sectors

Portfolio return and risk metrics
MetricMatthews China Dividend InvestoriShares China Large-Cap ETF
Arithmetic Mean (monthly)0.94%0.39%
Arithmetic Mean (annualized)11.91%4.76%
Geometric Mean (monthly)0.84%0.21%
Geometric Mean (annualized)10.54%2.53%
Volatility (monthly)4.55%5.99%
Volatility (annualized)15.76%20.75%
Downside Deviation (monthly)3.03%4.17%
Max. Drawdown-24.98%-39.42%
US Market Correlation0.650.61
Alpha (annualized)8.34%0.00%
Sharpe Ratio0.680.20
Sortino Ratio1.010.28
Treynor Ratio (%)16.914.10
Calmar Ratio0.510.10
Active Return8.01%N/A
Tracking Error11.47%N/A
Information Ratio0.70N/A
Excess Kurtosis1.420.79
Historical Value-at-Risk (5%)-7.95%-10.11%
Analytical Value-at-Risk (5%)-6.54%-9.46%
Conditional Value-at-Risk (5%)-10.59%-12.89%
Upside Capture Ratio (%)74.55100.00
Downside Capture Ratio (%)51.01100.00
Safe Withdrawal Rate13.10%8.57%
Perpetual Withdrawal Rate7.83%0.80%
Positive Periods82 out of 129 (63.57%)75 out of 129 (58.14%)
Gain/Loss Ratio0.950.84
* iShares China Large-Cap ETF is used as the benchmark for calculations. Value-at-risk metrics are based on monthly values.

Matthews China Dividend Investor Returns

Annual and monthly fund returns

iShares China Large-Cap ETF Returns

Annual and monthly fund returns
Rolling returns summary
Roll PeriodMatthews China Dividend InvestoriShares China Large-Cap ETF
1 year10.81%37.69%-14.44%4.04%36.22%-17.56%
3 years10.39%16.82%5.34%3.63%10.72%-1.72%
5 years9.59%12.77%6.51%2.59%5.50%-1.39%
7 years9.90%11.17%8.54%2.88%4.39%-0.35%
10 years9.73%9.73%9.73%2.85%2.85%2.85%
Result statistics are based on annualized rolling returns over full calendar year periods