MCSMX Performance — Matthews China Small Companies Fund, Investor Class
Data updated: 2026-08-24
MCSMX returned +60.21% year to date and +87.39% over one year to Jun 2026. Annualised returns are +25.16% over 3 years and +0.57% over 5 years. The fund beat its China Equity category average: $100 invested three years ago grew to $196, against $145 for the category, and to $187 over one year, against $123. Volatility over the past three years was 26.58% a year. In the 12 months to Jun 2026 the fund lost a net $2.1M, and assets reached $109.20M.
MCSMX Growth of $100
What $100 invested in Matthews China Small Companies Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the China Equity category average over the same months.
| Period | MCSMX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $187 | $123 |
| 3 years (Jul 2023 – Jun 2026) | $196 | $145 |
| 5 years (Jul 2021 – Jun 2026) | $103 | $92 |
| Since data start (Jul 2019 – Jun 2026) | $242 | $138 |
MCSMX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +60.21% |
| 1 year | +87.39% |
| 3 years (annualised) | +25.16% |
| 5 years (annualised) | +0.57% |
MCSMX Annual Returns
Calendar-year total returns of Matthews China Small Companies Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +60.21% |
| 2025 | +28.81% |
| 2024 | +2.83% |
| 2023 | −17.51% |
| 2022 | −31.25% |
| 2021 | −3.60% |
| 2020 | +82.53% |
| 2019 (Jul–Dec) | +14.09% |
MCSMX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +10.8% | +11.9% | −11.5% | +16.6% | +11.1% | +12.7% | — | — | — | — | — | — |
| 2025 | +2.5% | +3.9% | +1.5% | −5.2% | +2.5% | +4.9% | +7.0% | +9.8% | +3.5% | −3.3% | −2.6% | +2.2% |
| 2024 | −12.2% | +13.7% | −1.9% | +3.3% | +0.7% | −5.8% | −4.2% | −2.5% | +20.7% | −4.2% | −2.5% | +1.8% |
| 2023 | +11.2% | −8.6% | −1.3% | −5.4% | −10.9% | +5.6% | +8.3% | −5.4% | −3.0% | −6.7% | +0.3% | −0.6% |
| 2022 | −9.2% | −0.9% | −11.1% | −12.1% | +4.8% | +7.4% | −3.8% | −6.7% | −13.4% | −9.9% | +24.3% | −0.4% |
| 2021 | +7.0% | −1.5% | −4.2% | +5.2% | −1.0% | +7.3% | −6.9% | −0.6% | −4.0% | +1.9% | +0.1% | −5.6% |
| 2020 | +2.0% | +11.6% | −2.9% | +12.7% | +10.0% | +15.1% | +3.6% | +0.9% | −2.6% | −1.2% | +3.3% | +11.3% |
| 2019 | — | — | — | — | — | — | −0.5% | −0.5% | +3.7% | +6.3% | +0.4% | +4.2% |
MCSMX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 26.58%
- 3-year Sharpe ratio: 0.78 (vs 4.5% risk-free rate)
- Best month: +20.70% (Sep 2024)
- Worst month: −12.18% (Jan 2024)
MCSMX Fund Flows
Monthly money in and out of Matthews China Small Companies Fund, from SEC Form N-PORT.
- 12-month net flow: −$2.1M
- 12-month gross sales (incl. reinvestments): $20.2M
- Sales ÷ redemptions: 0.91×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $1.9M | $2.6M | −$741K |
| May 2026 | $2.4M | $2.0M | $321K |
| Apr 2026 | $2.1M | $2.1M | $3K |
| Mar 2026 | $1.5M | $2.8M | −$1.3M |
| Feb 2026 | $6.9M | $584K | $6.3M |
| Jan 2026 | $391K | $1.3M | −$893K |
| Dec 2025 | $1.8M | $2.0M | −$291K |
| Nov 2025 | $212K | $1.2M | −$948K |
| Oct 2025 | $359K | $2.5M | −$2.2M |
| Sep 2025 | $900K | $2.2M | −$1.3M |
| Aug 2025 | $730K | $1.8M | −$1.1M |
| Jul 2025 | $1.1M | $1.1M | −$45K |
MCSMX Assets Under Management
Net assets of Matthews China Small Companies Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $109.20M |
| 2026-03-31 | $75.12M |
| 2025-12-31 | $65.11M |
| 2025-09-30 | $72.76M |
| 2025-06-30 | $61.99M |
| 2025-03-31 | $65.67M |
| 2024-12-31 | $64.70M |
| 2024-09-30 | $76.51M |
| 2024-06-28 | $72.91M |
| 2024-03-28 | $81.39M |
| 2023-12-29 | $89.34M |
| 2023-09-29 | $108.76M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.