ASHR vs GXC

ASHRAXtrackers Harvest CSI 300 China A-Shares ETF

GXCAState Street SPDR S&P China ETF

In short

ASHR The mainland, not the offshore proxy. ASHR tracks the CSI 300, an index of the largest and most liquid stocks listed inside China's domestic A-share market, and it has been doing that job since 2013.

GXC The whole China market in one ticker: roughly 1,400 stocks from megacaps down to small caps, tracked since 2007. Most China funds buy the famous names. GXC buys the phone book.

Stated mandate

ASHR The fund tracks an index representing the largest and most liquid stocks in China's A-share market.

GXC The fund seeks to provide returns that generally correspond to the total return performance of the S&P China BMI Index.

Why people hold it

• ASHR Roughly 300 mainland-listed companies picked for size and liquidity, so one ticker covers the heart of China's domestic market rather than its offshore listings.
• Hugs its index closely and trades actively, which is why it rates as one of the stronger implementations among the China funds we cover.
• The 0.65% expense ratio comes in under the 0.70% median for China single-country ETFs, unusual for a fund reaching a market most rivals do not touch directly.
• Running since 2013 and now a multi-billion-dollar fund, so the A-share access plumbing has years of live use behind it.

• GXC Holds roughly 1,400 names across large, mid and small caps, so the portfolio reaches well past the handful of megacap internet stocks that dominate narrower China funds.ssga.com
• Running since 2007, one of the longest-tenured US-listed China index funds, with a track record covering several full boom and bust cycles in the market.ssga.com
• Tracks the S&P China BMI Index tightly and sits in the upper tier of its single-country China peer group on our review.

Worth knowing

• ASHR Broad China exposure can be had for less: FLCH charges 0.19% and JCHI 0.15%, both well below ASHR's 0.65%.
• One country, one market. There is no other geography in the basket to cushion a move in Chinese equities or a shift in Beijing's policy.
• Distributions land once or twice a year, so this is a growth-style holding rather than a steady income stream.

• GXC The 0.59% expense ratio sits at the pricier end of the shelf. Plain index rivals such as FLCH and CXSE charge less for China exposure.
• Volume is light next to the category's biggest China funds, so bid-ask spreads can widen. Limit orders are the usual defense.
• One country, one policy regime: Chinese regulation, politics and currency moves drive the whole ride, and payouts land only once or twice a year.

Full ASHR profile⁠

Full GXC profile⁠