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.


Rules-Based, Semi-Diverse

MANAGEMENT MATRIX

AIA

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorMatthews International Capital Man
CategoryInternational Equities
Asset classEquity
Websitelink...
Inception dateJul 13, 2022
Assets (mns)$84
Expense ratio79 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsAnnually
Taxation1099
Stock selectionProprietary
WeightingProprietary
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
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 holdings46
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)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
-4.1% -5.2% -- -- -- -- -5.9%
Market Correlations
versus...BetaR-squared
S&P 5000.9333%
MSCI EAFE1.1859%
MSCI Emg Mkts1.2994%
Liquidity Measures
Avg. volume (000)31
Turnover0.9%
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 volatility31.8%
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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Risk and Returns: MINV vs. Comps (1 YR)

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Results & Estimates
  2018 2019 2020 2021 2022 2023E 2024E  
Sales per share -- -- -- -- -- -- --
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Earnings per share -- -- -- -- -- -- --
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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 --%
2.7 20.0 2.8 1.0% --
Based on closing prices from 12/1/2023
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
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
SELL
U/W
HOLD
O/W
BUY



Recent Trends


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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 .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.