MEM vs SPY
Matthews Emerging Markets Equity Active ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. MEM delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | MEM | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $53M | $789.1B | |
| Dividend Yield | 2.88% | 1.01% | |
| Holdings | 79 | 505 | |
| YTD Return | +18.62% | +13.79% | |
| 1Y Return | +36.67% | +23.66% | |
| 3Y Return (annualized) | +20.51% | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 18.0% | 15.3% | |
| Max Drawdown | -19.1% | -56.5% | |
| Fund Family | Matthews Asia Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 13, 2022 | Jan 22, 1993 |
MEM vs SPY Performance
Matthews Emerging Markets Equity Active ETF (MEM) is a ETF from Matthews Asia Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MEM returned +36.67% while SPY returned +23.66%. Year to date, MEM is up 18.62% versus a gain of 13.79% for SPY.
Over three years, MEM compounded at +20.51% per year against +21.40% for SPY. Across the full 4-year window we track, MEM has the edge at +18.34% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MEM has been the more volatile fund, with annualized monthly volatility of 18.0% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -19.1% for MEM and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MEM charges 0.79% per year while SPY charges 0.09%. On a $10,000 position that is $79 vs $9 annually, a gap of $70 per year that compounds over a long holding period. On income, MEM currently yields 2.88% against 1.01% for SPY.
Holdings Overlap
MEM and SPY share 0 holdings out of 575 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MEM or SPY?
MEM has an expense ratio of 0.79% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, MEM or SPY?
Over the past year MEM returned +36.67% vs +23.66% for SPY, so MEM leads on 1-year performance. Over the longest common window we track (4 years), MEM annualized +18.34% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, MEM or SPY?
MEM has been the more volatile fund at 18.0% annualized versus 15.3% for SPY. Worst drawdown: MEM -19.1% vs SPY -56.5%.
Should I hold both MEM and SPY?
MEM and SPY have a monthly-return correlation of 0.74, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MEM and SPY?
MEM and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 575 unique securities.
Which pays a higher dividend, MEM or SPY?
MEM yields 2.88% while SPY yields 1.01%, so MEM currently pays the higher dividend yield.
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