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

467.1 M

ASSETS UNDER MGMT

59 bp

EXPENSES
Fund Basics
Fund sponsorSSGA Funds Management Inc
CategoryEmerging
Asset classEquity
Websitelink...
Inception dateMar 19, 2007
Assets (mns)$467
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 12.9 %
ALIBABA GROUP HOLDING LTD. 8.6 %
MEITUAN DIANPING 3.6 %
XIAOMI CORP. CLASS B 3.1 %
PINDUODUO, INC. SPONSORED ADR CLASS A 2.8 %
CHINA CONSTRUCTION BANK-H 2.7 %
JD.COM, INC. CLASS A 1.9 %
IND & COMM BK OF CHINA - H 1.6 %
BANK OF CHINA LTD - H 1.6 %
BYD CO LTD-H 1.6 %
Constituent Breakdown
Number of holdings557
Herfindahl-Hirschman Index 305
Wgt avg mkt cap (mns)$158,363
Large cap (>$10bn)81.2%
Mid cap ($2-10bn)15.0%
Small cap (<$2bn)3.7%
Developed mkts.22.0%
Emerging mkts.78.0%
Country Exposure
CHINA 74.8 %
HONG KONG 5.9 %
Historical Performance


Standardized Performance (as of 02/28/2025)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 12.0% 32.1% 5.8% -2.2% -1.2% 2.3% 4.5%
Volatility 24.5% 31.1% 27.8% 32.1% 30.5% 26.8% --
Market Correlations
versus...BetaR-squared
S&P 5000.333%
MSCI EAFE0.8320%
MSCI Emg Mkts1.4863%
Liquidity Measures
Avg. volume (000)77
Turnover1.4%
Avg. Bid/Ask (% of price)0.23%
ADV of underlying (mns)$26,974
Technical Indicators
Recent close$85.70
30d moving avg.$87.62
Annualized volatility32.3%
Relative strength (RSI)53
Short interest (ETF)0.8%
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
  2020 2021 2022 2023 2024 2025E 2026E  
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
  2024 2025E Fwd Est 2026E
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 5.9 0.7 2.3% --
Based on closing prices from 4/2/2025
Historical Valuation Trends Sample data. Subscribe for access.

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 Rating

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™

GXC

16.7%

Cat. Avg

9.9%


ALTAR Score™ Calculation

Category Overview
There are 156 funds in the Emerging Equity category, with an average ALTAR Score™ of 9.9% and a standard deviation of 4.1%. GXC's ALTAR Score™ is approximately 1.7 standard deviations above the category average. This places GXC in the 95th percentile among funds in the category.
Sell Side Consensus Rating

Sell-side recommendations on the ETF's individual constituents

GXC
Peer Average
SELL
U/W
HOLD
O/W
BUY
Factor Scorecard

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Expense Analysis

Peer Group Passive
Emerging Market Equity ETFs
# of ETFs 53
Avg. Expense Ratio 52.8 bp
Std. Deviation 23.2 bp
GXC (59 bp) Percentile rank 62
Peer Group Expense Ratio Distribution


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. 50.8 27.2 78.0
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .