TCHI
iShares MSCI China Multisector Tech ETF
TCHI tracks a market cap-weighted index of large- and mid-cap Chinese equities in technology and technology-related industries.
Fund Basics
| Fund sponsor | Blackrock |
| Category | Emerging Market Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 25, 2022 |
| Assets (mns) | $7 |
| Expense ratio | 59 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-annual |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| PINDUODUO, INC. SPONSORED ADR CLASS A | 4.6 % |
| KUAISHOU TECHNOLOGY CLASS B | 4.5 % |
| BAIDU, INC. CLASS A | 4.3 % |
| ALIBABA GROUP HOLDING LTD. | 4.0 % |
| JD.COM, INC. CLASS A | 4.0 % |
| XIAOMI CORP. CLASS B | 3.9 % |
| TENCENT HOLDINGS LTD | 3.9 % |
| NETEASE, INC | 3.9 % |
| CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD | 3.3 % |
| HAIER SMART HOME CO., LTD. CLASS H | 2.8 % |
Constituent Breakdown
| Number of holdings | 191 |
| Herfindahl-Hirschman Index | 203 |
| Wgt avg mkt cap (mns) | $60,947 |
| Large cap (>$10bn) | 65.2% |
| Mid cap ($2-10bn) | 31.0% |
| Small cap (<$2bn) | 2.7% |
| Developed mkts. | 20.2% |
| Emerging mkts. | 79.8% |
Country Exposure
 |
CHINA | 92.3 % |
 |
HONG KONG | 6.4 % |
Historical Performance
Standardized Annual Returns (as of 05/31/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| -10.1% | -15.5% | -- | -- | -- | -- | -24.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.34 | 3% |
| MSCI EAFE | 0.93 | 23% |
| MSCI Emg Mkts | 1.51 | 64% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.37% |
| ADV of underlying (mns) | $21,789 |
Technical Indicators
| Recent close | $17.62 |
| 30d moving avg. | $17.81 |
| Annualized volatility | 41.5% |
| Relative strength (RSI) | 40 |
| Short interest (ETF) | 0.5% |
| 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. TCHI |
Expenses vs. TCHI |
ALTAR Score™ vs. TCHI |
|---|---|---|---|---|
| KTEC | KraneShares Hang Seng TECH Index ETF | 43.3% | +9 bp | -5.5% |
| CHIK | Global X MSCI China Information Technology ETF | 40.8% | +6 bp | +2.6% |
| KWEB | KraneShares CSI China Internet ETF | 39.1% | +10 bp | -4.7% |
| CXSE | WisdomTree China ex-State-Owned Enterprises Fund | 35.1% | -27 bp | +1.7% |
| CQQQ | Invesco China Technology ETF | 32.0% | +11 bp | -13.9% |
| EMQQ | EMQQ The Emerging Markets Internet & Ecommerce ETF | 29.9% | +27 bp | -2.2% |
| KESG | KraneShares MSCI China ESG Leaders Index ETF | 27.9% | 0 bp | +7.2% |
| KEJI | Global X China Innovation ETF | 26.1% | +16 bp | -1.1% |
| MCHI | iShares MSCI China ETF | 25.1% | -2 bp | +5.6% |
| FDNI | First Trust Dow Jones International Internet ETF | 24.8% | +6 bp | -1.7% |
Risk and Returns: TCHI 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
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022E | 2023E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2021 | 2022E | Fwd Est | 2023E | |
| 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 6/2/2023
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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
TCHI
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™
TCHI
4.2%
Cat. Avg
7.6%
Fund Category: Emerging Market Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 4.2% |
Recommendation
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
Category Overview
There are 187 funds in the Emerging Market Equities category, with an average ALTAR Score™
of 7.6% and a standard deviation of
4.1%. TCHI's ALTAR Score™ is approximately
0.8 standard deviations
below
the category average. This places TCHI in the 20nd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
TCHI
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
| Latest price | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
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) |
|
|---|---|---|---|
| TCHI | 59.0 | 37.0 | 96 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .