Category Review
Index option income was not one bet this year
Invesco Golden Dragon China ETF
$22.11−0.01 (−0.05%)
- 0.70%
- $84M
- −27.1%
- 1.95%
- 0M sh
- $22.18
- low $21.25high $32.93
The ETF.net PGJ Grade
C
Score 50 out of 100
- 17 of 30
Score 50 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C41 out of 100Rank 17 of 30Mission
Whether the fund did what it promised, tested against its stated mandate.B66 out of 100Rank 16 of 22Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F24 out of 100Rank 25 of 30Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A71 out of 100Rank 6 of 30Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C40 out of 100Rank 20 of 28Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A74 out of 100Rank 8 of 30
Our read on PGJ
CMost China funds route you through Hong Kong or mainland listings. PGJ takes the other door: it holds Chinese companies that list their shares in the US, tracking a Nasdaq index built around that single screen. It has done it that way since 2004.
The fund is based on the NASDAQ Golden Dragon China Index and provides China-focused equity exposure.
Why people hold it
- Holds Chinese businesses whose stock trades on US exchanges, largely ADRs. US-market plumbing, US settlement, no Hong Kong or mainland access required.indexes.nasdaqomx.comindexes.nasdaqomx.com
- Launched in 2004, one of the longer-running China ETFs available, and tied to the same Nasdaq Golden Dragon China Index the entire time.invesco.com
- The US-listing rule narrows the field to roughly 70 names, a different slice of China than broad-market trackers like MCHI or GXC pull in. Pays quarterly.
Worth knowing
- 0.70% a year sits at the China-fund median but several times what broad index rivals like FLCH (0.19%) and JCHI (0.15%) charge.
- That US-listing screen cuts both ways. The prospectus flags US government action, including delisting Chinese companies from US exchanges, as a risk to these holdings.regulated-documents.saytechnologies.com
- Trades thinly next to the giants of the China category, so spreads and order size carry more weight.
PGJ Holdings
- Stocks
- 68
- 57%
- BABA
Sectors
- Consumer Discretionary43.1%
- Technology19.3%
- Communication17.3%
- Consumer Staples9.8%
- Industrials2.8%
- Real Estate2.8%
- Financials2.8%
- Health Care1.2%
- Energy0.8%
Geography
- China98.60%
- Canada0.58%
- Singapore0.45%
- Hong Kong0.37%
Developed 1% · Emerging 99%
PGJ Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
PGJ$7,290
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | PGJ |
|---|---|
| Year to date | −22.5% |
| 1 month | −1.0% |
| 3 months | −5.8% |
| 1 year | −27.1% |
| 3 years | −2.5% |
| 5 years | −10.6% |
| 10 years | −2.4% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | PGJ |
|---|---|---|
| 2026 YTD | −22.5% | |
| 2025 | +13.7% | |
| 2024 | +5.8% | |
| 2023 | −2.3% | |
| 2022 | −24.5% | |
| 2021 | −42.9% | |
| 2020 | +54.2% |
PGJ in the news
PGJ Dividends
- 1.95%
- $0.43
- $0.15 per share
- Quarterly
Distribution history
PGJ Risk
- 28.5%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.14
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −61.5%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.85
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PGJ Cost
0.70%
PGJ0.70%
- The middle half of China funds
- Median 0.65%
17 of the 29 China funds charge less.
Other funds in China
- CCNXTVanEck ChiNext Innovators ETFExpense ratio 0.65%1 year return +6.1%
- BMAGCRoundhill Investments - China Magnificent Seven ETFExpense ratio 0.59%1 year return −30.4%
- CMCHMatthews China Active ETFExpense ratio 0.79%1 year return −4.8%
- CFCAFirst Trust China AlphaDEX FundExpense ratio 0.80%1 year return −3.2%
- CCHIQGlobal X - MSCI China Consumer Discretionary ETFExpense ratio 0.65%1 year return −26.6%