CNXT vs FLCH: Grades, Fees and Holdings Compared

VanEck ChiNext Innovators ETF

CNXTCNYSE Arca

Franklin FTSE China ETF

FLCHANYSE Arca

Overlap

2.5%by weight

Expense ratio

FLCH −0.46pt a year

CNXT0.65%FLCH0.19%

Avg volume · 30D

FLCH 1.3×the volume

CNXT86.5KFLCH108K

5Y return · a year

FLCH +2.3pt

CNXT−6.4%FLCH−4.1%

CNXT vs FLCH Performance

Oct 29, 2021 – Oct 30, 2026

−28.1%CNXT−18.7%FLCH

Expense ratio: CNXT 0.65%; FLCH 0.19%, better
Fund size: CNXT $63M; FLCH $252M
1Y total return: CNXT −19.0%, better; FLCH −20.9%
Yield (12M): CNXT 0.23%; FLCH 2.63%, better
Holdings: CNXT 98; FLCH 1112
Avg volume (30D): CNXT 86.5K sh; FLCH 108K sh, better
NAV per share: CNXT $34.80; FLCH $19.38
52W range

ETF.net Grade

Pillar letters and Scores for CNXT, FLCH, with each pillar’s weight
Pillar	CNXT	FLCH
Cost30% weight	C53	A100Higher
Mission25% weight	B59	A87Higher
Risk15% weight	D33	B64Higher
Tradability15% weight	B64Higher	B62
Holdings10% weight	C44	B65Higher
Durability5% weight	A71Higher	A70

Rank among China funds

How we build Categories ›

Same Category. CNXT and FLCH are both graded against the same 28 China funds, so their Grades compare head to head.

China⁠

Category · 28 funds

See all 28 ›

FLCH ranks 2nd and CNXT 13th of 28 funds in the China Category.

Rank 1ACXSEWisdomTree China ex-State-Owned Enterprises FundScore 81
Rank 2AFLCHFranklin FTSE China ETFScore 80
Rank 3AMCHIiShares MSCI China ETFScore 77
Rank 12BFXIiShares China Large-Cap ETFScore 57
Rank 13CCNXTVanEck ChiNext Innovators ETFScore 53
Rank 14CCQQQInvesco China Technology ETFScore 51

Our read on each fund

ETF.net Research

CNXTCVanEck ChiNext Innovators ETF

FLCHAFranklin FTSE China ETF

In short

CNXT A pure Shenzhen play: CNXT tracks the ChiNext Index, the large and liquid companies on Shenzhen's ChiNext growth board, and has run that one mandate since 2014.

FLCH Cheap and wide, in the best way. FLCH holds roughly a thousand Chinese stocks and charges 0.19% a year, a fraction of what most single-country China funds ask. Whole market, small toll.

Stated mandate

CNXT CNXT seeks to track the price and yield performance of the ChiNext Index, which represents large and liquid companies listed on Shenzhen's ChiNext Market.

FLCH The Fund seeks investment results that closely correspond, before fees and expenses, to the performance of the FTSE China RIC Capped Index.

Why people hold it

CNXT The mandate is one line: track the ChiNext Index, roughly 100 large, liquid names on Shenzhen's growth board. No manager discretion, no style drift.
Launched in 2014, it has carried the same index through more than a decade of Chinese market swings. Long tenure for a single-country niche fund.
The holdings sit onshore in Shenzhen, but the wrapper is an ordinary US-registered fund that trades on a US exchange like anything else in your account.
Trading activity is moderate rather than thin, which is more than many single-country China niches can say.

FLCH 0.19% a year, against a roughly 0.70% median for China funds. It also undercuts the category stalwarts MCHI and GXC, both at 0.59%.
About 1,000 holdings, so you own the long tail of Chinese listings rather than a short list of mega-cap headline names.
One job, done tightly: mirror the FTSE China RIC Capped Index before fees. On tracking it ranks among the strongest builds in its China peer group.sec.gov

Worth knowing

CNXT 0.65% a year is above the typical index-tracking ETF fee. The access to a hard-to-reach corner of China is what the extra cost buys.
One country, one exchange board, about 100 growth-oriented stocks. Moves are sharper than a broad global index, with no other market to cushion them.
Cash comes back once or twice a year at most. This is a growth-board tracker, not an income engine.

FLCH It is China or nothing. Policy shifts, regulatory news and the currency drive the ride, with no other market in the basket to cushion it.
Mid-sized and only moderately traded next to the category's giants, so bid-ask spreads can bite more on larger orders.
Cash comes once or twice a year, not monthly. This is an equity index vehicle, not an income schedule.

Full CNXT profile⁠

Full FLCH profile⁠

CNXT vs FLCH Holdings

How CNXT and FLCH differ

Overlap by weight

2.5%

Shared holdings make up 93.0% of CNXT and 2.5% of FLCH.

Level by level

Holdings77 in both2.5%
Sector11 Sectors40.0%
Countryby domicile96.2%
Asset classEquity100%

Sector

Sector weights in CNXT and FLCH, widest gap first
Sector	More in CNXTMore in FLCH	CNXT	FLCH
Technology	CNXT +41.8 points	53.1%	11.3%
Consumer Discretionary	FLCH +20.5 points	1.6%	22.1%
Industrials	CNXT +18.1 points	25.4%	7.3%
Financials	FLCH +14.6 points	5.3%	19.9%
Communication	FLCH +14.4 points	2.1%	16.5%
Energy	FLCH +3.5 points	0.0%	3.5%
Utilities	FLCH +1.9 points	0.0%	1.9%
Real Estate	FLCH +1.6 points	0.0%	1.6%
Materials	FLCH +1.3 points	4.2%	5.5%
Health Care	FLCH +1.1 points	5.9%	7.0%
Consumer Staples	FLCH +0.9 points	2.4%	3.3%

Country, concentration and asset class

Country by domicile

Country weights in CNXT and FLCH, widest gap first
Country	More in CNXTMore in FLCH	CNXT	FLCH
China	CNXT +3.8 points	100.0%	96.2%
Hong Kong	FLCH +1.9 points	0.0%	1.9%
United States	FLCH +1.4 points	0.0%	1.4%
Other countries (3)	FLCH +0.5 points	0.0%	0.5%

Outside the US: CNXT 0% developed, 100% emerging. FLCH 2% developed, 98% emerging.

Concentration

Weight in the 10 largest Holdings

CNXT51.8%
FLCH39.3%

Securities held

CNXT97
FLCH1,109

Asset class

CNXT: Equity
FLCH: Equity

Holdings

Only in CNXT20
In both77
Only in FLCH1,032

Only in CNXT

20 securities, 6.9% of CNXT by weight

Shandong Sinocera Functional Material C0.76%
Wuxi Lead Intelligent Equipment Co Ltd0.73%
Chongqing Polycomp International Corp0.49%
Yangzhou Yangjie Electronic Technology0.48%
Hunan Yuneng New Energy Battery Materia0.47%
Zhejiang Sling Intelligent Drive Group0.46%
Thunder Software Technology Co Ltd0.45%
Anhui Tongguan Copper Foil Group Co Ltd0.39%
Mianyang Fulin Precision Co Ltd0.34%
Shenzhen Sc New Energy Technology Corp0.32%
Fujian Wanchen Biotechnology Group Co L0.31%
Guangdong Dtech Technology Co Ltd0.31%
Ningbo Zhenyu Technology Co Ltd0.28%
Weihai Guangwei Composites Co Ltd0.26%
Shanghai Huace Navigation Technology Lt0.24%
Huali Industrial Group Co Ltd0.17%
Zhejiang Changsheng Sliding Bearings Co0.16%
Winner Medical Co Ltd0.12%
Yili Chuanning Biotechnology Co Ltd0.11%
Gambol Pet Group Co Ltd0.07%

Only in FLCH

1,032 securities, 97.5% of FLCH by weight

Tencent Holdings Ltd11.56%
Alibaba Group Holding Ltd8.88%
China Construction Bank-H4.38%
Ind & Comm Bk of China-H3.04%
Pdd Holdings Inc2.29%
Xiaomi Corp-Class B2.20%
Bank of China Ltd-H2.00%
Meituan-Class B1.90%
Netease Inc1.55%
Ping An Insurance Group C1.45%
Byd Co Ltd-H1.21%
Jd.com Inc-Class A1.19%
Petrochina Co Ltd-H1.09%
China Merchants Bank-H0.99%
Trip.com Group Ltd0.90%
Beone Medicines Ltd0.87%
China Life Insurance Co-H0.86%
Zijin Mining Group Co Ltd0.81%
Wuxi Biologics Cayman Inc0.80%
Baidu Inc-Class A-Hkd0.77%
Agricultural Bank of Chin0.71%
Kweichow Moutai Co Ltd-A0.70%
China Shenhua Energy Co-H0.69%
Innovent Biologics Inc0.63%
Yum China Holdings Inc0.59%
Picc Property & Casualty-0.55%
China Petroleum & Chemica0.53%
Ke Holdings Inc-Cl A0.45%
Kuaishou Technology0.45%
Pop Mart International Gr0.44%
Anta Sports Products Ltd0.44%
China Resources Land Ltd0.42%
Geely Automobile Holdings0.41%
Wuxi Apptec Co Ltd-H0.38%
Nongfu Spring Co Ltd-H0.36%
China Citic Bank Corp Ltd0.36%
China Merchants Bank-A0.36%
H World Group Ltd0.35%
Contemporary Amperex Tech0.34%
Yangzijiang Shipbuilding0.34%
China Pacific Insurance G0.33%
China Hongqiao Group Ltd0.32%
Zto Express Cayman Inc0.31%
Bank of Communications Co0.30%
Cspc Pharmaceutical Group0.30%
Citic Ltd0.30%
New Oriental Education &0.29%
China Yangtze Power Co Lt0.29%
Midea Group Co Ltd-H0.29%
Akeso Inc0.28%

Weight gaps

All 77 Holdings in both funds, largest gap first.

Holding weights in CNXT and FLCH, widest gap first
Holding	More in CNXTMore in FLCH	CNXT	FLCH
Contemporary Amperex Technology Co Ltd	CNXT +13.39 points	13.80%	0.41%
Zhongji Innolight Co Ltd	CNXT +11.40 points	11.65%	0.25%
Eoptolink Technology Inc Ltd	CNXT +6.45 points	6.56%	0.11%
East Money Information Co Ltd	CNXT +5.19 points	5.31%	0.12%
Shenzhen Inovance Technology Co Ltd	CNXT +2.57 points	2.63%	0.06%
Shenzhen Mindray Bio-Medical Electronic	CNXT +2.41 points	2.50%	0.09%
Chaozhou Three-Circle Group Co Ltd	CNXT +2.38 points	2.44%	0.06%
Suzhou Tfc Optical Communication Co Ltd	CNXT +2.27 points	2.34%	0.07%
Sungrow Power Supply Co Ltd	CNXT +2.25 points	2.30%	0.05%
Victory Giant Technology Huizhou Co Ltd	CNXT +2.21 points	2.26%	0.05%
Wens Foodstuffs Group Co Ltd	CNXT +1.98 points	2.02%	0.04%
Hangzhou Chang Chuan Technology Co Ltd	CNXT +1.84 points	1.89%	0.05%
Eve Energy Co Ltd	CNXT +1.47 points	1.51%	0.04%
Hithink Royalflush Information Network	CNXT +1.26 points	1.32%	0.06%
Shenzhen Longsys Electronics Co Ltd	CNXT +1.15 points	1.19%	0.04%
Lens Technology Co Ltd	CNXT +1.14 points	1.19%	0.05%
Sharetronic Data Technology Co Ltd	CNXT +1.13 points	1.16%	0.03%
Bluefocus Intelligent Communications Gr	CNXT +0.96 points	0.98%	0.02%
Hubei Dinglong Co Ltd	CNXT +0.91 points	0.93%	0.02%
Ingenic Semiconductor Co Ltd	CNXT +0.90 points	0.92%	0.02%
Pharmaron Beijing Co Ltd	CNXT +0.89 points	0.91%	0.02%
Shenzhen Sunway Communication Co Ltd	CNXT +0.86 points	0.88%	0.02%
Sg Micro Corp	CNXT +0.83 points	0.85%	0.02%
Range Intelligent Computing Technology	CNXT +0.83 points	0.87%	0.04%
Aier Eye Hospital Group Co Ltd	CNXT +0.80 points	0.84%	0.04%
Robotechnik Intelligent Technology Co L	CNXT +0.77 points	0.79%	0.02%
Shannon Semiconductor Technology Co Ltd	CNXT +0.77 points	0.79%	0.02%
Kunlun Tech Co Ltd	CNXT +0.76 points	0.77%	0.01%
Wangsu Science & Technology Co Ltd	CNXT +0.74 points	0.76%	0.02%
Konfoong Materials International Co Ltd	CNXT +0.74 points	0.76%	0.02%
Broadex Technologies Co Ltd	CNXT +0.73 points	0.75%	0.02%
Sangfor Technologies Inc	CNXT +0.69 points	0.71%	0.02%
Hubei Feilihua Quartz Glass Co Ltd	CNXT +0.65 points	0.66%	0.01%
Advanced Fiber Resources Zhuhai Ltd	CNXT +0.65 points	0.67%	0.02%
Shenzhen Everwin Precision Technology C	CNXT +0.59 points	0.61%	0.02%
Beijing Compass Technology Development	CNXT +0.58 points	0.59%	0.01%
Hangzhou Tigermed Consulting Co Ltd	CNXT +0.56 points	0.58%	0.02%
Anker Innovations Technology Co Ltd	CNXT +0.55 points	0.58%	0.03%
Jiangsu Hoperun Software Co Ltd	CNXT +0.53 points	0.54%	0.01%
Shenzhen Capchem Technology Co Ltd	CNXT +0.52 points	0.54%	0.02%
Sunwoda Electronic Co Ltd	CNXT +0.51 points	0.52%	0.01%
Jiangsu Nata Opto-Electronic Material C	CNXT +0.51 points	0.52%	0.01%
Wuhan Jingce Electronic Group Co Ltd	CNXT +0.50 points	0.51%	0.01%
Suzhou Maxwell Technologies Co Ltd	CNXT +0.49 points	0.50%	0.01%
Shenzhen New Industries Biomedical Engi	CNXT +0.48 points	0.50%	0.02%
Qingdao Tgood Electric Co Ltd	CNXT +0.47 points	0.48%	0.01%
Isoftstone Information Technology Group	CNXT +0.46 points	0.47%	0.01%
Empyrean Technology Co Ltd	CNXT +0.45 points	0.47%	0.02%
Canmax Technologies Co Ltd	CNXT +0.45 points	0.46%	0.01%
Goke Microelectronics Co Ltd	CNXT +0.45 points	0.46%	0.01%
Zhejiang Jingsheng Mechanical & Electri	CNXT +0.44 points	0.45%	0.01%
Maxscend Microelectronics Co Ltd	CNXT +0.41 points	0.43%	0.02%
All Winner Technology Co Ltd	CNXT +0.42 points	0.43%	0.01%
Intco Medical Technology Co Ltd	CNXT +0.41 points	0.43%	0.02%
Yealink Network Technology Corp Ltd	CNXT +0.39 points	0.41%	0.02%
Jl Mag Rare-Earth Co Ltd	CNXT +0.36 points	0.37%	<0.01%
Beijing Enlight Media Co Ltd	CNXT +0.36 points	0.38%	0.02%
Sunresin New Materials Co Ltd	CNXT +0.37 points	0.39%	0.02%
Siasun Robot & Automation Co Ltd	CNXT +0.36 points	0.37%	<0.01%
Sigmastar Technology Ltd	CNXT +0.35 points	0.36%	0.01%
Beijing Ultrapower Software Co Ltd	CNXT +0.33 points	0.34%	<0.01%
Chongqing Zhifei Biological Products Co	CNXT +0.31 points	0.33%	0.02%
Mango Excellent Media Co Ltd	CNXT +0.31 points	0.33%	0.02%
Lepu Medical Technology Beijing Co Ltd	CNXT +0.32 points	0.33%	0.01%
Beijing Sinnet Technology Co Ltd	CNXT +0.31 points	0.32%	<0.01%
Yihai Kerry Arawana Holdings Co Ltd	CNXT +0.31 points	0.33%	0.02%
Beijing Easpring Material Technology Co	CNXT +0.29 points	0.30%	0.01%
Cngr Advanced Material Co Ltd	CNXT +0.29 points	0.30%	0.01%
Cspc Innovation Pharmaceutical Co Ltd	CNXT +0.29 points	0.30%	0.01%
Hebei Changshan Biochemical Pharmaceuti	CNXT +0.28 points	0.29%	<0.01%
Winning Health Technology Group Co Ltd	CNXT +0.26 points	0.27%	<0.01%
Imeik Technology Development Co Ltd	CNXT +0.25 points	0.26%	0.01%
Ginlong Technologies Co Ltd	CNXT +0.22 points	0.24%	0.02%
Shenzhen Han's Cnc Technology Co Ltd	CNXT +0.22 points	0.23%	<0.01%
Ruijie Networks Co Ltd	CNXT +0.21 points	0.22%	0.01%
Suzhou Kematek Inc	CNXT +0.21 points	0.22%	0.01%
Songcheng Performance Development Co Lt	CNXT +0.18 points	0.19%	<0.01%

All 100 CNXT holdings⁠All 967 FLCH holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CNXT vs FLCH Cost

Overpaying CNXT vs FLCH

$8,765

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

CNXT 0.65%
$12,717
FLCH 0.19%
$3,952

Amount$10,000

Years30 years

Cost over time

CNXT 0.65%
FLCH 0.19%
Overpaying

Year by year

Year	CNXT	FLCH	Overpaying
10	$1,163	$347	$816
20	$4,440	$1,351	$3,089
30	$12,717	$3,952	$8,765

Expense ratio

0.65%CNXT
0.19%FLCH, cheaper

FLCH0.19%CNXT0.65%

0.19%5.01%

Middle half of China funds
Median 0.65%

FLCH cheapest of 28 funds

CNXT 11th cheapest of 28 funds

CNXT vs FLCH Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CNXT 0.23%; FLCH 2.63%, better
Payout (12M): CNXT $0.08; FLCH $0.51
Last payment: CNXT $0.08; FLCH $0.14
Ex-dividend: CNXT Dec 22, 2025; FLCH Jun 26, 2026
Paid on: CNXT Dec 26, 2025; FLCH Jul 6, 2026
Frequency: CNXT Annual; FLCH Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

CNXTAnnual · 6 paymentsAll CNXT payments⁠

FLCHTwice a year · 18 paymentsAll FLCH payments⁠

CNXT vs FLCH Risk

Fall from peak · 5 years

CNXT
FLCH

Risk facts

VolatilityStd dev, 3 years: CNXT 42.0%FLCH 21.1%, better
Return per unit of riskSharpe ratio, 3 years: CNXT 0.36, betterFLCH 0.29
Worst fallMax drawdown, 5 years: CNXT −61.1%FLCH −48.1%, better
Market sensitivityBeta, 5 years: CNXT 0.77FLCH 0.55; Market = 1

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