GXC

SPDR S&P China ETF

SPDR S&P China ETF objective is to replicate the performance of the S&P China BMI Index. The Index measures publicly traded companies domiciled in China, but legally available to foreign inves


Emerging Market

EQUITY

Passive

MANAGEMENT STYLE

59 bp

EXPENSES

$476.8 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorSSGA Funds Management Inc
CategoryEmerging
Asset classEquity
Websitelink...
Inception dateMar 19, 2007
Assets (mns)$477
Expense ratio59 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsSemi-Annually
Taxation1099
Stock selectionMarket Cap
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
TENCENT HOLDINGS LTD 12.4 %
ALIBABA GROUP HOLDING LTD. 5.6 %
PINDUODUO, INC. SPONSORED ADR CLASS A 4.1 %
CHINA CONSTRUCTION BANK-H 2.9 %
MEITUAN DIANPING 2.6 %
BANK OF CHINA LTD - H 1.7 %
IND & COMM BK OF CHINA - H 1.6 %
XIAOMI CORP. CLASS B 1.4 %
JD.COM, INC. CLASS A 1.4 %
NETEASE, INC 1.3 %
Constituent Breakdown
Number of holdings577
Herfindahl-Hirschman Index 239
Wgt avg mkt cap (mns)$108,215
Large cap (>$10bn)76.6%
Mid cap ($2-10bn)18.6%
Small cap (<$2bn)4.8%
Developed mkts.21.6%
Emerging mkts.78.4%
Country Exposure
CHINA 71.8 %
HONG KONG 7.1 %
Historical Performance


Standardized Performance (as of 05/31/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 3.9% 2.3% -6.5% -16.8% -2.6% 1.7% 3.6%
Volatility 22.4% 22.8% 26.7% 29.8% 28.5% 25.6% --
Market Correlations
versus...BetaR-squared
S&P 5000.354%
MSCI EAFE0.7921%
MSCI Emg Mkts1.3967%
Liquidity Measures
Avg. volume (000)25
Turnover0.4%
Avg. Bid/Ask (% of price)0.23%
ADV of underlying (mns)$19,488
Technical Indicators
Recent close$70.12
30d moving avg.$73.00
Annualized volatility29.9%
Relative strength (RSI)53
Short interest (ETF)1.3%
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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Risk and Returns: GXC vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Dividends per share -- -- -- -- -- -- --
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Book value per share -- -- -- -- -- -- --
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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 --%
0.9 8.7 1.0 2.9% --
Based on closing prices from 6/24/2024
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SHOWING:
Price-to-Earnings
GXC



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™

GXC

8.8%

Cat. Avg

7.5%

Fund Category: Emerging

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™8.8%
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 165 funds in the Emerging category, with an average ALTAR Score™ of 7.5% and a standard deviation of 3.8%. GXC's ALTAR Score™ is approximately 0.3 standard deviations above the category average. This places GXC in the 63rd percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
GXC
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
Latest price
Change
Volume
Bid/Ask Spread
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Today's Trading

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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
GXC 59.0 23.1 82.1
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .