Matthews Pacific Tiger Active ETF

Matthews Pacific Tiger Active ETF (ASIA) is an actively managed fund from Matthews International Capital Management. Its managers pick stocks across Asia outside Japan and measure the results against the MSCI All Country Asia ex Japan Index. It charges 0.79% a year, more than the 0.59% average of similar funds. As of June 30, 2026, it leaned heavily on Korean and Taiwanese chip makers such as Samsung Electronics and Taiwan Semiconductor.

• Over the year to Oct 27, 2026, ASIA returned +10.2%, 5th of 6 among similar funds.
• Its worst full calendar year was 2024 (+3.4%); its best was 2025 (+32.1%).
• The deepest fall in its price history was 23.9% (Oct 7, 2024 to Apr 8, 2025), recovered by Jul 21, 2025.

As of Jun 30, 2026, the fund held 67 securities; the ten largest made up 45.27% of assets, and 5.04% sat in cash and money-market holdings.

• Over the three months to Jun 30, 2026, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +17.63%, +13.00%, -0.15%.

ASIA does not copy an index. Under normal conditions it puts at least 80% of its net assets into common and preferred stocks of companies located in Asia outside Japan. That includes developed, emerging and frontier markets. Frontier markets are smaller, less developed economies such as Sri Lanka and Vietnam. Matthews defines "located" broadly. A company can qualify if it is organized or headquartered in the region, trades mainly there, or gets at least half its revenue or assets there, and Matthews may rely on just one of these tests. The fund may also put up to 20% into bonds.

The managers look for companies they judge capable of sustainable growth. They study balance sheets, cash flow, the depth and integrity of management, corporate governance and financial health. Most holdings are medium or large companies, but any size is allowed, and the fund can concentrate in particular sectors. There is no fixed weighting or rebalancing schedule. Portfolio turnover was 113%, which means heavy trading. That can raise trading costs and taxable gains.

As of June 30, 2026, the fund held 67 stocks, and the top 10 made up about 45% of assets. Taiwan accounted for about 28%, South Korea 26%, China 20% and India 7%. About 5% was in cash, and the fund held no derivatives. It owned Taiwan Semiconductor in two forms: U.S.-traded depositary receipts (shares that represent a foreign stock and trade on a U.S. exchange) and Taiwan-listed shares. Together they came to about 13% of assets.

• ASIA charges 0.79% a year, versus an average of 0.59% for the similar funds below (5th of 6, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $81 in the first year and $978 over 10 years (assuming a 5% annual return).

ASIA is a concentrated, actively managed bet on one region with large swings, so it fits better as a small addition than as a foundation.

ASIA could add Asian growth exposure, especially to chip makers, beyond what a broad international fund holds. Its record is short. It launched September 22, 2023, so it missed the 2008, 2020 and 2022 downturns. Its deepest drop was 23.9%, from October 7, 2024 to April 8, 2025. It regained that peak by July 21, 2025, about 3.4 months later. Its weakest full year, 2024, still gained 4.78%. As of October 27, 2026, its one-year beta was 1.6, meaning it tended to move more sharply than the broad market. Someone who has to sell in a slump could lock in losses. Income is small: a 0.95% yield, paid once a year. In the SEC's standard example, $10,000 costs $978 in fees over 10 years. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.