Matrix is pretty open about how it hasn't been able to do anything about metadata leakage (which they have even at some times claimed is somewhat inherent to its federated nature; I think that is an overstatement, but is something that even they seem to believe).
https://matrix.org/blog/wp-content/uploads/2017/02/2017-02-0...
> Matrix does not protect metadata currently; server admins can see who you talk to & when (but not what). If you need this today, look at Ricochet or Vuvuzela etc.
> Protecting metadata is incompatible with bridging.
> However, in future peer-to-peer home servers could run clientside, tunnelling traffic over Tor and using anonymous store-and-forward servers (a la Pond).
> But for now this is sci-fi.
https://github.com/matrix-org/synapse/issues/2188
https://github.com/matrix-org/synapse/issues/4565
Signal, in contrast, put a lot of effort into metadata reduction--critical as they are a single giant hosted relay service--and in the process (I am very sure) even fixed the issue I used to complain about wherein their server was technically keeping around a temporary-ish in-memory metadata log for rate limiting.
https://signal.org/blog/sealed-sender/
If you are going to switch to something, switch to Signal (...though I sadly can't in good faith ever really recommend anyone do that, due to how Signal has crippled the ability to do chat backups; more info on this in the other thread going on today re Signal/WhatsApp).
https://news.ycombinator.com/item?id=25686475