Update: db x-trackers MSCI China TRN Index UCITS ETF

H-Shares, Red Chips, P Chips, B-Shares: Dieser ETF bietet einen breit diversifizierten Zugang zu diversen chinesischen Aktiensegmenten. Das hohe Gewicht des Finanzsektors ist hier ein Wermutstropfen.   

Rolle im Portfolio

This ETF is best suited as a core building block for a portfolio, offering exposure to the MSCI China Index, which is composed of the large and mid-cap mainland China companies across H-Shares, Red Chips and P Chips listed in Hong Kong and B-Shares listed in China, which are the major non-domestic Chinese securities available to non-domestics investors. For investors building a global portfolio, this ETF can also be used as a tactical tool to bet on non-domestic mainland China companies.

From a sector perspective, the MSCI China Index is fairly concentrated in the financial sector which represents 36% of the index’s value as of this writing. It is also fairly concentrated at the individual security level--the index’s top 10 holdings account for 52% of its value.

Looking from a portfolio construction perspective, this ETF could offer some degree of diversification benefit for international investors, as evidenced by the historical correlations between the MSCI China Index and other global equity indices. Over the past three years, the MSCI China Index has been more correlated to emerging markets in Asia (correlated 93% to the MSCI EM Asia Index) than developed markets (correlated 78% to the MSCI World Index, 82% to the MSCI EAFE Index and 72% to the S&P 500 Index). During the same span it had a correlation of 56% to the MSCI China A Index, which tracks the domestic Chinese equity markets. Over the same time period, the MSCI China Index has had a standard deviation of 22%. This is higher than the MSCI World Index (14%) and the MSCI EM Asia Index (18%), but similar to the MSCI China A Index (22%).

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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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