I was finding out a bit more about a China A50 ETF, and thought it’ll be good to compile a little information.
Main Types of Shares for Chinese Companies
- A Shares
- Traded on the Shanghai and Shenzhen exchanges. RMB denominated. Off-limits to foreigners, except for Qualified Foreign Institutional Investors (QFII) who are given a limited quota.
- B Shares
- Traded on the Shanghai and Shenzhen exchanges. USD or HKD denominated. Tradeable by foreigners. Illiquid and used by smaller companies.
- H Shares
- Traded on the Hong Kong exchange. HKD denominated.
- Red Chips
- Traded on the Hong Kong exchange but incorporated outside China. Companies controlled by the Chinese Government.
- P Chips
- Traded on the Hong Kong exchange but incorporated outside China. Companies run by private sector businessmen.
- FTSE China A50 Index – Largest 50 A Share companies.
- FTSE China 25 Index – Largest 25 Chinese stocks listed on a Hong Kong exchange.
- SSE Composite Index – Index of all stocks traded on the Shanghai exchange.
- CSI 300 Index – Top 300 A-Share stocks traded on the Shanghai and Shenzhen stock exchanges.
- MSCI China Index – Top 85% of equities in the H Shares, B Shares, Red Chips, P Chips categories (no A Shares).
- iShares FTSE China 25 Index ETF (FXI)
- Tracks FTSE China 25 Index
- Average daily volume ~20M
- iShares MSCI China Index Fund (MCHI)
- Tracks MSCI China Index
- Average daily volume ~500K
- SPDR S&P China ETF (GXC)
- More diversified than FXI
- Average daily volume ~200K
- Morgan Stanley China A Share Fund (CAF)
- Tracks MSCI China A Index and a China Blended Index (80% of MSCI China A Index and 20% of MSCI China Index)
- Average daily volume ~180K
- PowerShares Golden Dragon China Portfolio ETF (PGJ)
- More tech and consumer companies
- Average daily volume ~70K
- Guggenhiem China Small Cap ETF (HAO)
- Tracks AlphaShares China Small Cap Index
- Average daily volume ~100K
U.S. Leveraged ETFs
- ProShares Ultra FTSE China 25 (XPP)
- ProShares UltraShort FTSE China 25 (FXP)
- Direxion Daily China Bull 3x ETF (YINN)
- Direxion Daily China Bear 3x ETF (YANG)
Hong Kong ETFs
- iShares FTSE China A50 Index ETF (HK:2823)
- Synthetic ETF, using China A-Share Access Products (CAAPs)
- Average daily volume ~130K
- CSOP FTSE China A50 ETF (HK:2822)
- Directly invests in A-Shares via RMB Qualified Foreign Institutional Investor (RQFII) quotas
- Average daily volume ~50K
- ChinaAMC CSI 300 Index ETF (HK:83188)
- Directly invests in A-shares via RQFII
- Average daily volume ~8.8M
- DBX CSI 300 Index Fund (HK:3049)
- Seems to be a synthetic ETF
- Average daily volume ~4.4M
- FTSE China A50 Index Futures, traded on the Singapore exchange
- Contract size: US$1 * FTSE China A50 Index Value
- Minimum fluctuation: 5 index points (US$5)