FXI
iShares China Large-Cap ETF
The iShares China Large-Cap ETF seeks to track the investment results of an index composed of large-capitalization Chinese equities that trade on the Hong Kong Stock Exchange.
Emerging Market
EQUITY
Passive
MANAGEMENT STYLE
74 bp
EXPENSES
$4.3 B
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Barclays Global Investors |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 05, 2004 |
| Assets (mns) | $4,338 |
| Expense ratio | 74 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Hong Kong-listed |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ALIBABA GROUP HOLDING LTD. | 9.4 % |
| TENCENT HOLDINGS LTD | 8.9 % |
| MEITUAN DIANPING | 8.9 % |
| CHINA CONSTRUCTION BANK-H | 7.0 % |
| IND & COMM BK OF CHINA - H | 5.3 % |
| BANK OF CHINA LTD - H | 4.2 % |
| NETEASE, INC | 4.0 % |
| BYD CO LTD-H | 3.8 % |
| XIAOMI CORP. CLASS B | 3.8 % |
| JD.COM, INC. CLASS A | 3.7 % |
Constituent Breakdown
| Number of holdings | 50 |
| Herfindahl-Hirschman Index | 468 |
| Wgt avg mkt cap (mns) | $128,645 |
| Large cap (>$10bn) | 99.7% |
| Mid cap ($2-10bn) | 0.3% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 15.0% |
| Emerging mkts. | 85.0% |
Country Exposure
 |
CHINA | 96.7 % |
 |
HONG KONG | 2.7 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 5.6% | -4.3% | -11.3% | -16.3% | -7.9% | -1.5% | 4.8% | Volatility | 27.7% | 27.3% | 31.2% | 33.5% | 31.0% | 27.3% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.32 | 3% |
| MSCI EAFE | 0.79 | 17% |
| MSCI Emg Mkts | 1.51 | 62% |
Liquidity Measures
| Avg. volume (000) | 30,833 |
| Turnover | 18.1% |
| Avg. Bid/Ask (% of price) | 0.04% |
| ADV of underlying (mns) | $2,858 |
Technical Indicators
| Recent close | $25.39 |
| 30d moving avg. | $26.42 |
| Annualized volatility | 33.6% |
| Relative strength (RSI) | 52 |
| Short interest (ETF) | 52.5% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. FXI |
Expenses vs. FXI |
ALTAR Score™ vs. FXI |
|---|---|---|---|---|
| MCHI | iShares MSCI China ETF | 52.7% | -15 bp | -0.6% |
| FLCH | Franklin FTSE China ETF | 49.6% | -55 bp | +0.1% |
| KTEC | KraneShares Hang Seng TECH Index ETF | 47.3% | -5 bp | -13.8% |
| GXC | SPDR S&P China ETF | 42.6% | -15 bp | -0.6% |
| MCH | Matthews China Active ETF | 42.4% | +5 bp | -3.3% |
| KWEB | KraneShares CSI China Internet ETF | 41.6% | -5 bp | -10.5% |
| KALL | KraneShares MSCI All China Index ETF | 40.2% | -25 bp | +0.0% |
| CXSE | WisdomTree China ex-State-Owned Enterprises Fund | 39.7% | -42 bp | -2.9% |
| EMQQ | EMQQ The Emerging Markets Internet & Ecommerce ETF | 37.5% | +12 bp | -7.6% |
| JCHI | JPMorgan Active China ETF | 37.1% | -9 bp | -1.2% |
Risk and Returns: FXI vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 7/25/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
FXI
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
FXI
9.7%
Cat. Avg
7.5%
Fund Category: Emerging
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 9.7% |
Recommendation
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
Category Overview
There are 161 funds in the Emerging category, with an average ALTAR Score™
of 7.5% and a standard deviation of
3.9%. FXI's ALTAR Score™ is approximately
0.6 standard deviations
above
the category average. This places FXI in the 71st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
FXI
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Passive Emerging Market Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 52.8 bp |
| Std. Deviation | 23.2 bp |
| FXI (74 bp) Percentile rank | 82 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FXI | 74.0 | 3.8 | 77.8 |
| Peer Avg. | 56.1 | 21.3 | 77.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .