MEMX vs QQQ
Matthews Emerging Markets ex China Active ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. MEMX delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | MEMX | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.18% | |
| AUM | $54M | $496.3B | |
| Dividend Yield | 4.19% | 0.44% | |
| Holdings | 86 | 108 | |
| YTD Return | +23.97% | +16.23% | |
| 1Y Return | +50.52% | +26.23% | |
| 3Y Return (annualized) | +25.24% | +25.75% | |
| 5Y Return (annualized) | - | +14.78% | |
| Volatility (annualized) | 17.6% | 30.6% | |
| Max Drawdown | -19.3% | -83.0% | |
| Fund Family | Matthews Asia Funds | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jan 10, 2023 | Mar 10, 1999 |
MEMX vs QQQ Performance
Matthews Emerging Markets ex China Active ETF (MEMX) is a ETF from Matthews Asia Funds and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year MEMX returned +50.52% while QQQ returned +26.23%. Year to date, MEMX is up 23.97% versus a gain of 16.23% for QQQ.
Over three years, MEMX compounded at +25.24% per year against +25.75% for QQQ. Across the full 4-year window we track, MEMX has the edge at +21.35% annualized vs +13.02%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 17.6% for MEMX. 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 -19.3% for MEMX and -83.0% for QQQ. 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MEMX charges 0.79% per year while QQQ charges 0.18%. On a $10,000 position that is $79 vs $18 annually, a gap of $61 per year that compounds over a long holding period. On income, MEMX currently yields 4.19% against 0.44% for QQQ.
Holdings Overlap
MEMX and QQQ share 0 holdings out of 173 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, MEMX or QQQ?
MEMX has an expense ratio of 0.79% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $61 per year of difference.
Which performed better, MEMX or QQQ?
Over the past year MEMX returned +50.52% vs +26.23% for QQQ, so MEMX leads on 1-year performance. Over the longest common window we track (4 years), MEMX annualized +21.35% vs +13.02% for QQQ. Past performance does not guarantee future results.
Which is riskier, MEMX or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 17.6% for MEMX. Worst drawdown: MEMX -19.3% vs QQQ -83.0%.
Should I hold both MEMX and QQQ?
MEMX and QQQ have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MEMX and QQQ?
MEMX and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 173 unique securities.
Which pays a higher dividend, MEMX or QQQ?
MEMX yields 4.19% while QQQ yields 0.44%, so MEMX currently pays the higher dividend yield.
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