MEMS Fees and Costs — Matthews Emerging Markets Discovery Active ETF
Data updated: 2026-08-24
The net expense ratio is 0.89% (0.99% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $18K in broker commissions, 0.0988% of average net assets, and portfolio turnover was 42%.
MEMS Fees and Expenses
Annual operating expenses and sales charges of MEMS. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.99% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.99% |
| Fee waiver | −0.10% |
| Net expense ratio | 0.89% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MEMS Costs Over Time
On $10,000 invested in MEMS, assuming 5% a year before costs, total costs come to $619 over 5 years, cutting the return by 1.04% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.89%) | $93 | $292 | $506 |
| Trading costs (broker commissions) | $10 | $32 | $56 |
| Lost growth on money paid in costs | $0 | $16 | $57 |
| Total costs | $104 | $340 | $619 |
| Value after costs | $10,396 | $11,236 | $12,144 |
| Impact on return, per year | 1.04% | 1.04% | 1.04% |
MEMS Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0988%
- Total broker commissions: $18K
- Bought from dealers (principal trades, not a cost): $8.5M
- Portfolio turnover (prospectus): 42%
- Securities lending: none during the year
MEMS Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $2K | 18.35% |
| INSTINET, LLC | $2K | 17.08% |
| CITIGROUP GLOBAL MARKETS INC. | $2K | 12.02% |
| MACQUARIE CAPITAL (USA), INC. | $1K | 11.15% |
| UBS Securities LLC | $1K | 9.90% |
| JP MORGAN SECURITIES LLC | $1K | 9.60% |
| GOLDMAN SACHS & CO. LLC | $840 | 6.63% |
| HSBC SECURITIES (USA) INC. | $731 | 5.77% |
| EFG Hermes Holding SAE | $639 | 5.04% |
| BTG PACTUAL US CAPITAL, LLC | $565 | 4.46% |
MEMS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| THE BANK OF NEW YORK MELLON CORPORATION | $8.5M | 100.00% |
| Macquarie Capital (USA) Inc. | $6 | 0.00% |
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.