MINV
Matthews Asia Innovators Active ETF
MINV is actively managed to hold stocks of innovative companies in Asia. Holdings are fundamentally screened for sustainable growth.
Fund Basics
| Fund sponsor | Matthews International Capital Man |
| Category | International Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 13, 2022 |
| Assets (mns) | $84 |
| Expense ratio | 79 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| TAIWAN SEMICONDUCTOR MANUFAC | 8.4 % |
| SAMSUNG ELECTRONICS CO LTD | 7.3 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 6.0 % |
| TENCENT HOLDINGS LTD | 4.8 % |
| ALCHIP TECHNOLOGIES LTD. | 3.6 % |
| HYNIX SEMICONDUCTOR INC | 3.4 % |
| ZOMATO LTD. | 3.3 % |
| ALIBABA GROUP HOLDING LTD. SPONSORED ADR | 2.9 % |
| ICICI BANK LTD | 2.6 % |
| AXIS BANK LIMITED | 2.4 % |
Constituent Breakdown
| Number of holdings | 46 |
| Herfindahl-Hirschman Index | 298 |
| Wgt avg mkt cap (mns) | $141,825 |
| Large cap (>$10bn) | 84.3% |
| Mid cap ($2-10bn) | 14.6% |
| Small cap (<$2bn) | 1.2% |
| Developed mkts. | 16.3% |
| Emerging mkts. | 83.7% |
Country Exposure
 |
CHINA | 26.1 % |
 |
INDIA | 19.1 % |
 |
TAIWAN | 15.5 % |
 |
SOUTH KOREA | 15.3 % |
 |
HONG KONG | 2.7 % |
 |
INDONESIA | 2.7 % |
 |
SINGAPORE | 2.0 % |
 |
NETHERLANDS | 1.5 % |
 |
UNITED STATES | 1.3 % |
Historical Performance
Standardized Annual Returns (as of 11/30/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -4.1% | -5.2% | -- | -- | -- | -- | -5.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.93 | 33% |
| MSCI EAFE | 1.18 | 59% |
| MSCI Emg Mkts | 1.29 | 94% |
Liquidity Measures
| Avg. volume (000) | 31 |
| Turnover | 0.9% |
| Avg. Bid/Ask (% of price) | 0.31% |
| ADV of underlying (mns) | $27,210 |
Technical Indicators
| Recent close | $23.25 |
| 30d moving avg. | $22.20 |
| Annualized volatility | 31.8% |
| Relative strength (RSI) | 52 |
| Short interest (ETF) | 0.0% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. MINV |
Expenses vs. MINV |
ALTAR Score™ vs. MINV |
|---|---|---|---|---|
| AIA | iShares Asia 50 ETF | 30.9% | -29 bp | +5.6% |
| EEMA | iShares MSCI Emerging Markets Asia ETF | 30.4% | -30 bp | +5.5% |
| AAXJ | iShares MSCI All Country Asia ex Japan ETF | 30.1% | -10 bp | +5.2% |
| EMQQ | EMQQ The Emerging Markets Internet & Ecommerce ETF | 26.8% | +7 bp | +0.9% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 26.7% | -68 bp | -1.4% |
| ESGE | iShares ESG Aware MSCI EM ETF | 26.2% | -54 bp | +6.7% |
| JEMA | JPMorgan Emerging Markets Equity Core ETF | 24.8% | -46 bp | +6.2% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 24.4% | -49 bp | +6.4% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 24.4% | -13 bp | +6.0% |
| EMDM | First Trust Bloomberg Emerging Market Democracies ETF | 24.4% | -4 bp | +7.2% |
Risk and Returns: MINV vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2022 | 2023E | Fwd Est | 2024E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/1/2023
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
MINV
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
MINV
0.8%
Cat. Avg
6.9%
Fund Category: International Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 0.8% |
Recommendation
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
Category Overview
There are 261 funds in the International Equities category, with an average ALTAR Score™
of 6.9% and a standard deviation of
2.5%. MINV's ALTAR Score™ is approximately
2.4 standard deviations
below
the category average. This places MINV in the 1st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
MINV
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
Today's Trading
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Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| MINV | 79.0 | 31.2 | 110.2 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .