Analyse: db x-trackers FTSE China 25 UCITS ETF

Mit nur 25 Holdings kommt dieser Index konzentriert und sehr kopflastig daher. Die Volatilität reflektiert das zuletht hohe Risiko der Offshore-Aktien-Segmente des chinesischen Markts.  

Rolle im Portfolio

This ETF offers exposure to many of the largest and most liquid Chinese equities available to international investors. Given its concentrated portfolio, this ETF is best suited as a satellite holding for investors looking for China mega-cap exposures.

Over the past three years, the FTSE China 25 Index has been more correlated to the Asian emerging markets (correlated 89% to the MSCI EM Asia Index) than developed markets (correlated 73% to the MSCI World Index and the MSCI EAFE Index and 66% to the S&P 500 Index). These figures indicate that this ETF could offer some degree of diversification benefit for international investors. It is worth noting that, over the past 3 years, this index has had a correlation of 54% to the MSCI China A Index which tracks the domestic Chinese equity markets, compared to the FTSE China 25 Index which tracks two of the non-domestic Chinese equity markets--H-Shares and Red Chips. Over this same time period, this index has had a standard deviation of 24%. This is higher than the MSCI World Index (16%) but similar to the MSCI EM Asia (20%) and the MSCI China A Index (24%).

From a sector perspective the FTSE China 25 Index is heavily tilted towards the financial sector which represents 54% of the index’s value as of end-June 2013. At the individual security level, the index’s top 10 holdings account for 62% of its value.

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Über den Autor

Morningstar ETF Analysts  research hundreds of ETFs available to European investors. The Morningstar Rating for ETFs is based on a risk-adjusted performance measure.

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