Is a MatFile object derived from the handle class?

I'm using a MatFile object to avoid loading a large mat file into memory. The MatFile object is used as an input to a function where I append my data. Does the MatFile object act like a handle, only referencing the object on my disk from inside my function? A rough example is shown here:

measurement = matfile(filename, 'Writable', true);
measurement.TimeStamps = 0;
measurement.Data = zeros(1, 2);

function measurement = saveData(event, measurement)
    size_timestamp = size(measurement, 'TimeStamps');
    measurement.TimeStamps(size_timestamp(1) + 1, 1) = event.TimeStamps(end);
    measurement.Data(size_timestamp(1) + 1, :) = mean(event.Data);
end