XCNY
SPDR S&P Emerging Markets ex-China ETF
The SPDR S&P Emerging Markets ex-China ETF aims to provide investment results that correspond to the performance of the S&P Emerging Markets ex-China Index by investing in large- and mid-cap companies across emerging market countries, excluding China.
Emerging Market
EQUITY
Passive
MANAGEMENT STYLE
4.7 M
ASSETS UNDER MGMT
15 bp
EXPENSES
Fund Basics
| Fund sponsor | SPDR |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 04, 2024 |
| Assets (mns) | $5 |
| Expense ratio | 15 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TAIWAN SEMICONDUCTOR MANUFAC | 11.0 % |
| HDFC BANK LIMITED | 1.9 % |
| RELIANCE INDUSTRIES LTD | 1.6 % |
| ICICI BANK LTD | 1.2 % |
| INFOSYS TECHNOLOGIES LTD | 1.1 % |
| MEDIATEK INC | 0.9 % |
| HON HAI PRECISION INDUSTRY | 0.9 % |
| BHARTI AIRTEL LIMITED | 0.8 % |
| AL RAJHI BANK | 0.8 % |
| NASPERS LTD N SHS | 0.7 % |
Constituent Breakdown
| Number of holdings | 1083 |
| Herfindahl-Hirschman Index | 146 |
| Wgt avg mkt cap (mns) | $114,765 |
| Large cap (>$10bn) | 62.9% |
| Mid cap ($2-10bn) | 26.4% |
| Small cap (<$2bn) | 9.5% |
| Developed mkts. | 1.7% |
| Emerging mkts. | 98.3% |
Country Exposure
 |
INDIA | 28.6 % |
 |
TAIWAN | 26.8 % |
 |
BRAZIL | 5.8 % |
 |
SAUDI ARABIA | 5.5 % |
 |
SOUTH AFRICA | 3.7 % |
 |
MALAYSIA | 2.9 % |
 |
MEXICO | 2.5 % |
 |
THAILAND | 2.2 % |
 |
UAE | 2.0 % |
 |
INDONESIA | 1.9 % |
Historical Performance
Standardized Performance (as of 02/28/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -4.7% | -- | -- | -- | -- | -- | -9.0% | Volatility | 14.6% | -- | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 1 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.00% |
| ADV of underlying (mns) | $11,223 |
Technical Indicators
| Recent close | $23.47 |
| 30d moving avg. | $23.50 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 46 |
| 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. XCNY |
Expenses vs. XCNY |
ALTAR Score™ vs. XCNY |
|---|---|---|---|---|
| EMXC | iShares MSCI Emerging Markets ex China ETF | 70.9% | +10 bp | +8.0% |
| XC | WisdomTree Emerging Markets Ex-China Fund | 54.8% | +17 bp | +5.5% |
| STXE | Strive Emerging Markets Ex-China ETF | 54.5% | +17 bp | +8.2% |
| EEM | iShares MSCI Emerging Markets ETF | 54.5% | +54 bp | +10.7% |
| SCHE | Schwab Emerging Markets Equity ETF | 54.4% | -4 bp | +11.6% |
| VWO | Vanguard FTSE Emerging Markets ETF | 54.3% | -7 bp | +10.9% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 54.3% | +15 bp | +10.6% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 53.0% | -6 bp | +10.9% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 52.0% | -4 bp | +11.8% |
| EMCR | Xtrackers Emerging Markets Carbon Reduction and Climate Impr | 51.6% | 0 bp | +8.6% |
Risk and Returns: XCNY 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025E | 2026E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 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 | --% |
Based on closing prices from 4/2/2025
Peer Group Comparison Sample data. Subscribe for access.
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
XCNY
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
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
XCNY
0.0%
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%. XCNY's ALTAR Score™ is approximately
2.4 standard deviations
below
the category average. This places XCNY in the 1st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
XCNYSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive Emerging Market Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 52.8 bp |
| Std. Deviation | 23.2 bp |
| XCNY (15 bp) Percentile rank | 6 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| XCNY | 15.0 | 0.0 | 15 |
| Peer Avg. | 48.3 | 42.3 | 90.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .