MEMS vs SPY
Matthews Emerging Markets Discovery Active ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. MEMS delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | MEMS | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.89% | 0.09% | |
| AUM | $21M | $789.1B | |
| Dividend Yield | 2.32% | 1.01% | |
| Holdings | 83 | 505 | |
| YTD Return | +21.55% | +13.68% | |
| 1Y Return | +21.63% | +21.53% | |
| 3Y Return (annualized) | - | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 16.8% | 15.3% | |
| Max Drawdown | -21.2% | -56.5% | |
| Fund Family | Matthews Asia Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 10, 2024 | Jan 22, 1993 |
MEMS vs SPY Performance
Matthews Emerging Markets Discovery Active ETF (MEMS) 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 MEMS returned +21.63% while SPY returned +21.53%. Year to date, MEMS is up 21.55% versus a gain of 13.68% for SPY.
Risk: Volatility and Drawdowns
MEMS has been the more volatile fund, with annualized monthly volatility of 16.8% 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 -21.2% for MEMS 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 0.53. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MEMS charges 0.89% per year while SPY charges 0.09%. On a $10,000 position that is $89 vs $9 annually, a gap of $80 per year that compounds over a long holding period. On income, MEMS currently yields 2.32% against 1.01% for SPY.
Holdings Overlap
MEMS and SPY share 0 holdings out of 578 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, MEMS or SPY?
MEMS has an expense ratio of 0.89% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $80 per year of difference.
Which performed better, MEMS or SPY?
Over the past year MEMS returned +21.63% vs +21.53% for SPY, so MEMS leads on 1-year performance. Over the longest common window we track (3 years), MEMS annualized +10.66% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, MEMS or SPY?
MEMS has been the more volatile fund at 16.8% annualized versus 15.3% for SPY. Worst drawdown: MEMS -21.2% vs SPY -56.5%.
Should I hold both MEMS and SPY?
MEMS and SPY have a monthly-return correlation of 0.53, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MEMS and SPY?
MEMS and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 578 unique securities.
Which pays a higher dividend, MEMS or SPY?
MEMS yields 2.32% while SPY yields 1.01%, so MEMS currently pays the higher dividend yield.
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