CNYA vs GXC: Grades, Fees and Holdings Compared

iShares MSCI China A ETF

CNYAACboe

State Street SPDR S&P China ETF

GXCANYSE Arca

Overlap

7.4%by weight

Expense ratio

GXC −0.01pt a year

CNYA0.60%GXC0.59%

Avg volume · 30D

CNYA 2.0×the volume

CNYA47.2KGXC23.4K

10Y return · a year

CNYA +1.0pt

CNYA+3.6%GXC+2.6%

CNYA vs GXC Performance

Oct 29, 2021 – Oct 30, 2026

−20.2%CNYA−18.2%GXC

Expense ratio: CNYA 0.60%; GXC 0.59%, better
Fund size: CNYA $158M; GXC $421M
1Y total return: CNYA −9.6%, better; GXC −19.1%
Yield (12M): CNYA 2.13%; GXC 2.46%, better
Holdings: CNYA 419; GXC 1539
Avg volume (30D): CNYA 47.2K sh, better; GXC 23.4K sh
NAV per share: CNYA $30.59; GXC $80.17
52W range

ETF.net Grade

Pillar letters and Scores for CNYA, GXC, with each pillar’s weight
Pillar	CNYA	GXC
Cost30% weight	B67	A78Higher
Mission25% weight	A87Higher	A85
Risk15% weight	B67	B67
Tradability15% weight	C43	B69Higher
Holdings10% weight	A84Higher	A76
Durability5% weight	A77	A84Higher

Rank among China funds

How we build Categories ›

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

China⁠

Category · 28 funds

See all 28 ›

GXC ranks 4th and CNYA 7th 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 4AGXCState Street SPDR S&P China ETFScore 76
Rank 5AKBAKraneShares Bosera MSCI China A 50 Connect Index ETFScore 74
Rank 6AASHRXtrackers Harvest CSI 300 China A-Shares ETFScore 73
Rank 7ACNYAiShares MSCI China A ETFScore 70
Rank 8BECNSiShares MSCI China Small-Cap ETFScore 63

Our read on each fund

ETF.net Research

CNYAAiShares MSCI China A ETF

GXCAState Street SPDR S&P China ETF

In short

CNYA Most China ETFs buy the offshore listings. CNYA goes onshore, owning the Shanghai and Shenzhen A-shares that mainland investors trade, through an MSCI index built around the Stock Connect channel.

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

CNYA The Fund seeks to track an index of domestic Chinese equities traded on the Shanghai or Shenzhen Stock Exchange.

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

CNYA Onshore, not offshore: the index is built from domestic Chinese equities listed in Shanghai and Shenzhen, a different company mix from the Hong Kong-listed China funds.ishares.com
At 0.60%, the fee undercuts the typical single-country China fund.
About 400 mainland names, and the fund has stayed unusually close to its index versus its China peer group.
Running since 2016 on an MSCI index designed to follow the phased entry of A-shares into the emerging markets benchmark.msci.com

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

CNYA Access runs through Stock Connect: the index covers only A-shares reachable via that channel, not the entire mainland market.msci.com msci.com 2
Cheaper China options exist (JCHI at 0.15%, FLCH at 0.19%), but they buy offshore-listed shares rather than mainland ones.msci.com
A smaller, moderately traded fund, so bid-ask spreads carry more weight here than with the largest China ETFs.

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 CNYA profile⁠

Full GXC profile⁠

CNYA vs GXC Holdings

How CNYA and GXC differ

Overlap by weight

7.4%

Shared holdings make up 32.3% of CNYA and 7.4% of GXC.

Level by level

Holdings156 in both7.4%
Sector11 Sectors67.0%
Countryby domicile96.1%
Asset classEquity100%

Sector

Sector weights in CNYA and GXC, widest gap first
Sector	More in CNYAMore in GXC	CNYA	GXC
Consumer Discretionary	GXC +16.6 points	4.4%	21.0%
Technology	CNYA +15.2 points	27.2%	12.0%
Communication	GXC +12.1 points	1.2%	13.3%
Materials	CNYA +5.3 points	11.8%	6.5%
Industrials	CNYA +3.9 points	13.5%	9.6%
Consumer Staples	CNYA +3.8 points	7.5%	3.7%
Financials	CNYA +2.7 points	21.7%	19.0%
Health Care	GXC +2.7 points	4.7%	7.4%
Utilities	CNYA +1.8 points	3.9%	2.1%
Real Estate	GXC +1.5 points	0.5%	2.0%
Energy	CNYA +0.3 points	3.7%	3.4%

Country, concentration and asset class

Country by domicile

Country weights in CNYA and GXC, widest gap first
Country	More in CNYAMore in GXC	CNYA	GXC
China	CNYA +3.9 points	98.9%	95.0%
Hong Kong	GXC +1.7 points	1.1%	2.8%
United States	GXC +1.7 points	0.0%	1.7%
Other countries (5)	GXC +0.6 points	0.0%	0.6%

Outside the US: CNYA 1% developed, 99% emerging. GXC 3% developed, 97% emerging.

Concentration

Weight in the 10 largest Holdings

CNYA18.6%
GXC32.9%

Securities held

CNYA416
GXC1,533

Asset class

CNYA: Equity
GXC: Equity

Holdings

Only in CNYA260
In both156
Only in GXC1,377

Only in CNYA

260 securities, 67.3% of CNYA by weight

Kweichow Moutai A4.15%
China Merchants Bank A2.12%
China Yangtze Power Ltd A1.72%
Agricultural Bank of China A1.50%
Ping An Insurance (Group) of China1.35%
Zijin Mining Group Ltd A1.33%
Industrial and Commercial Bank of1.29%
Cambricon Technologies Corporation1.28%
Foxconn Industrial Internet Ltd A1.10%
Bank of Communications Ltd A1.09%
Industrial Bank A0.98%
Hygon Information Technology Ltd A0.93%
Wuxi Apptec A0.84%
Petrochina A0.81%
Shanghai Pudong Development Bank A0.80%
Jiangsu Hengrui Medicine Ltd A0.71%
Citic Securities A0.69%
China Shenhua Energy Ltd A0.66%
Bank of China Ltd A0.66%
Shaanxi Coal Industry Ltd A0.63%
China Construction Bank Corp A0.60%
Beijing-Shanghai High Speed Railwa0.60%
China Cssc Holdings Ltd A0.59%
Bank of Jiangsu Corporation A0.56%
Wanhua Chemical Group Ltd A0.55%
China Molybdenum A0.55%
Guotai Haitong Securities Ltd A0.53%
Cosco Shipping Holdings Ltd A0.52%
Shengyi Technology Ltd A0.51%
China Petroleum & Chemical A0.50%
Advanced Micro-Fabrication Equipme0.49%
China Pacific Insurance (Group) A0.48%
China National Nuclear Power Ltd A0.47%
China State Construction Engineeri0.46%
Inner Mongolia Yili Industrial Gro0.44%
Nari Technology A0.43%
Montage Technology A0.43%
Gigadevice Semiconductor Inc A0.43%
China International Capital A0.42%
Postal Savings Bank of China Ltd A0.41%
Ningxia Baofeng Energy Group Ltd A0.37%
Crrc Corp A0.37%
Shanxi Xinghuacun Fen Wine Factory0.37%
Bank of Nanjing Ltd A0.36%
Sany Heavy Industry Ltd A0.35%
Foshan Hai Tian Flavouring & Food0.34%
China Everbright Bank Ltd A0.34%
China United Network Communication0.33%
China Merchants Energy Shipping Lt0.32%
Bank of Shanghai Ltd A0.32%

Only in GXC

1,377 securities, 92.2% of GXC by weight

Tencent Holdings Ltd9.22%
Alibaba Group Holding Ltd7.52%
China Construction Bank H4.02%
Ind & Comm Bk of China H2.41%
Bank of China Ltd H2.00%
Pdd Holdings Inc1.91%
Xiaomi Corp Class B1.76%
Meituan Class B1.55%
Ping An Insurance Group Co H1.27%
Netease Inc1.22%
Byd Co Ltd H1.02%
Jd.com Inc Class A1.00%
Petrochina Co Ltd H0.84%
Beone Medicines Ltd0.82%
China Life Insurance Co H0.73%
Trip.com Group Ltd0.72%
Wuxi Biologics Cayman Inc0.69%
China Merchants Bank H0.68%
Baidu Inc Class A Hkd0.68%
Zijin Mining Group Co Ltd H0.68%
Lenovo Group Ltd0.67%
Kweichow Moutai Co Ltd A0.63%
China Shenhua Energy Co H0.58%
Agricultural Bank of China H0.58%
Yum China Holdings Inc0.52%
Innovent Biologics Inc0.50%
Picc Property & Casualty H0.44%
China Petroleum & Chemical H0.41%
Ke Holdings Inc Adr0.39%
Pop Mart International Group0.37%
Anta Sports Products Ltd0.37%
China Resources Land Ltd0.36%
Ind & Comm Bk of China A0.35%
China Merchants Bank A0.35%
Agricultural Bank of China A0.35%
Geely Automobile Holdings Lt0.33%
China Citic Bank Corp Ltd H0.33%
Kuaishou Technology0.32%
Yangzijiang Shipbuilding0.31%
Nongfu Spring Co Ltd H0.31%
Citic Ltd0.30%
Bank of Communications Co H0.30%
China Yangtze Power Co Ltd A0.29%
Cspc Pharmaceutical Group Lt0.28%
Zto Express Cayman Inc Adr0.27%
China Pacific Insurance Gr H0.26%
Foxconn Industrial Interne A0.26%
China Mengniu Dairy Co0.25%
Sitc International Holdings0.25%
Weichai Power Co Ltd H0.24%

Weight gaps

The 100 widest of 156 Holdings in both funds.

Holding weights in CNYA and GXC, widest gap first
Holding	More in CNYAMore in GXC	CNYA	GXC
Contemporary Amperex Technology A	CNYA +2.00 points	2.45%	0.45%
Zhongji Innolight A	CNYA +1.18 points	1.43%	0.25%
Byd A	CNYA +0.90 points	1.08%	0.18%
Naura Technology Group Ltd A	CNYA +0.70 points	0.81%	0.11%
Luxshare Precision Industry Ltd A	CNYA +0.61 points	0.76%	0.15%
Wuliangye Yibin Ltd A	CNYA +0.58 points	0.69%	0.11%
Eoptolink Technology Inc A	CNYA +0.53 points	0.65%	0.12%
Midea Group A	CNYA +0.52 points	0.70%	0.18%
East Money Information Ltd A	CNYA +0.49 points	0.64%	0.15%
Shenzhen Mindray Bio-Medical Elect	CNYA +0.46 points	0.55%	0.09%
Ping An Bank Ltd A	CNYA +0.45 points	0.54%	0.09%
Muyuan Foods Group Ltd A	CNYA +0.43 points	0.52%	0.09%
Bank of Ningbo A	CNYA +0.42 points	0.53%	0.11%
Wus Printed Circuit (Kunshan) A	CNYA +0.35 points	0.43%	0.08%
Shennan Circuits Ltd A	CNYA +0.32 points	0.40%	0.08%
Suzhou Tfc Optical Communicationin	CNYA +0.32 points	0.39%	0.07%
Hithink Royalflush Information Net	CNYA +0.31 points	0.36%	0.05%
Suzhou Dongshan Precision Manufact	CNYA +0.31 points	0.38%	0.07%
S.f. Holding Ltd A	CNYA +0.30 points	0.39%	0.09%
Chaozhou Three-Circle (Group) Ltd	CNYA +0.28 points	0.35%	0.07%
Boe Technology Group Ltd A	CNYA +0.28 points	0.37%	0.09%
Sungrow Power Supply Ltd A	CNYA +0.25 points	0.32%	0.07%
Luzhou Lao Jiao Ltd A	CNYA +0.24 points	0.29%	0.05%
Hangzhou Chang Chuan Technology Lt	CNYA +0.22 points	0.27%	0.05%
Zangge Mining Ltd A	CNYA +0.22 points	0.27%	0.05%
Rongsheng Petro Chemical Ltd A	CNYA +0.20 points	0.23%	0.03%
Victory Giant Technology Huizhou L	CNYA +0.20 points	0.27%	0.07%
Qinghai Salt Lake Industry Ltd A	CNYA +0.21 points	0.26%	0.05%
Zte Corp A	CNYA +0.20 points	0.26%	0.06%
Wens Foodstuff Group	CNYA +0.20 points	0.25%	0.05%
Avary Holding (Shenzhen) Ltd A	CNYA +0.19 points	0.26%	0.07%
Lens Technology A	CNYA +0.19 points	0.28%	0.09%
Gree Electric Appliances Inc of Zh	CNYA +0.19 points	0.28%	0.09%
Yantai Jereh Oilfield Services Gro	CNYA +0.18 points	0.23%	0.05%
Range Intelligent Computing Techno	CNYA +0.17 points	0.20%	0.03%
Shenzhen Longsys Electronics A	CNYA +0.17 points	0.21%	0.04%
Zhejiang Century Huatong Group Ltd	CNYA +0.17 points	0.19%	0.02%
China Tungsten and Hightech Materi	CNYA +0.17 points	0.20%	0.03%
Shenwan Hongyuan Group Ltd A	CNYA +0.18 points	0.23%	0.05%
Yunnan Baiyao Group Ltd A	CNYA +0.17 points	0.21%	0.04%
Eve Energy A	CNYA +0.17 points	0.23%	0.06%
Gf Securities A	CNYA +0.17 points	0.23%	0.06%
Iflytek Ltd A	CNYA +0.16 points	0.21%	0.05%
Henan Shuanghui Investment & Devel	CNYA +0.16 points	0.19%	0.03%
Accelink Technologies Ltd A	CNYA +0.15 points	0.20%	0.05%
Sharetronic Data Technology Ltd A	CNYA +0.15 points	0.18%	0.03%
Focus Media Information Technology	CNYA +0.16 points	0.18%	0.02%
Yunnan Aluminium Ltd A	CNYA +0.15 points	0.20%	0.05%
Satellite Chemical Ltd A	CNYA +0.15 points	0.20%	0.05%
Guangdong Haid Group Ltd A	CNYA +0.14 points	0.19%	0.04%
Aier Eye Hospital Group Ltd A	CNYA +0.14 points	0.18%	0.04%
Anker Innovations Technology Ltd A	CNYA +0.14 points	0.16%	0.02%
China Merchants Shekou Industrial	CNYA +0.14 points	0.18%	0.04%
Tcl Technology Group A	CNYA +0.13 points	0.20%	0.07%
Shenzhen Techwinsemi Technology Lt	CNYA +0.13 points	0.15%	0.02%
Tongfu Microelectronics Ltd A	CNYA +0.12 points	0.16%	0.04%
Xcmg Construction Machinery A	CNYA +0.12 points	0.18%	0.06%
Goldenmax International Group Ltd	CNYA +0.11 points	0.13%	0.02%
Huagong Tech A	CNYA +0.12 points	0.16%	0.04%
Goertek A	CNYA +0.12 points	0.18%	0.06%
Inner Mongolia Dian Tou Energy Cor	CNYA +0.12 points	0.17%	0.05%
Jiangsu Eastern Shenghong Ltd A	CNYA +0.12 points	0.16%	0.04%
Zhejiang Nhu A	CNYA +0.12 points	0.18%	0.06%
Shenzhen Inovance Technology A	CNYA +0.11 points	0.19%	0.08%
Huizhou Desay Sv Automotive Ltd A	CNYA +0.12 points	0.13%	0.01%
Ingenic Semiconductor A	CNYA +0.11 points	0.13%	0.02%
Tianqi Lithium Industries A	CNYA +0.11 points	0.14%	0.03%
Inspur Electronic Information Indu	CNYA +0.11 points	0.16%	0.05%
Sichuan Kelun Pharmaceutical Ltd A	CNYA +0.10 points	0.16%	0.06%
Advanced Fiber Resources (Zhuhai)	CNYA +0.10 points	0.12%	0.02%
Lingyi Itech (Guangdong) A	CNYA +0.10 points	0.15%	0.05%
Jiangsu Yanghe Brewery Joint-Stock	CNYA +0.10 points	0.11%	0.01%
Hubei Dinglong Ltd A	CNYA +0.10 points	0.11%	0.01%
Chongqing Changan Automobile Ltd A	CNYA +0.10 points	0.14%	0.04%
Shenzhen Envicool Technology Ltd A	CNYA +0.09 points	0.11%	0.02%
Sinoma Science & Technology A	CNYA +0.10 points	0.13%	0.03%
Shenzhen Kedali Industry A	CNYA +0.10 points	0.13%	0.03%
Unisplendour Corp Ltd A	CNYA +0.10 points	0.14%	0.04%
Sg Micro Corp A	CNYA +0.09 points	0.13%	0.04%
Konfoong Materials International L	CNYA +0.09 points	0.12%	0.03%
Sangfor Technologies Inc A	CNYA +0.09 points	0.13%	0.04%
Haisco Pharmaceutical Group A	CNYA +0.09 points	0.11%	0.02%
Tianshan Aluminum Group Ltd A	CNYA +0.09 points	0.12%	0.03%
Shanjin International Gold Ltd A	CNYA +0.09 points	0.13%	0.04%
Shenzhen Megmeet Electrical Ltd A	CNYA +0.09 points	0.12%	0.03%
Guosen Securities A	CNYA +0.09 points	0.13%	0.04%
Yealink Network Technology Ltd A	CNYA +0.09 points	0.11%	0.02%
Shenzhen Sunway Communication Ltd	CNYA +0.08 points	0.10%	0.02%
Hengyi Petrochemical Ltd A	CNYA +0.08 points	0.09%	<0.01%
Henan Shenhuo Coal & Power Ltd A	CNYA +0.09 points	0.13%	0.04%
Everprox Technologies Ltd A	CNYA +0.09 points	0.10%	0.01%
Asymchem Laboratories (Tianjin) Lt	CNYA +0.08 points	0.13%	0.05%
Robotechnik Intelligent Technology	CNYA +0.08 points	0.10%	0.02%
Shenzhen New Industries Biomedical	CNYA +0.08 points	0.12%	0.04%
Cnpc Capital Ltd A	CNYA +0.08 points	0.12%	0.04%
Inner Mongolia Xingye SILVER&TIN M	CNYA +0.08 points	0.09%	0.01%
Zhejiang Dahua Technology Ltd A	CNYA +0.08 points	0.11%	0.03%
Cspc Innovation Pharmaceutical A	CNYA +0.08 points	0.10%	0.02%
Guangzhou Tinci Materials Technolo	CNYA +0.07 points	0.10%	0.03%
Kunlun Tech A	CNYA +0.08 points	0.10%	0.02%

All 416 CNYA holdings⁠All 1,547 GXC 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.

CNYA vs GXC Cost

Overpaying CNYA vs GXC

$182

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

CNYA 0.60%
$11,817
GXC 0.59%
$11,635

Amount$10,000

Years30 years

Cost over time

CNYA 0.60%
GXC 0.59%
Overpaying

Year by year

Year	CNYA	GXC	Overpaying
10	$1,076	$1,058	$18
20	$4,116	$4,051	$65
30	$11,817	$11,635	$182

Expense ratio

0.60%CNYA
0.59%GXC, cheaper

GXC0.59%CNYA0.60%

0.19%5.01%

Middle half of China funds
Median 0.65%

GXC 5th cheapest of 28 funds

CNYA 9th cheapest of 28 funds

CNYA vs GXC Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CNYA 2.13%; GXC 2.46%, better
Payout (12M): CNYA $0.65; GXC $1.99
Last payment: CNYA $0.10; GXC $0.67
Ex-dividend: CNYA Jun 15, 2026; GXC Jun 22, 2026
Paid on: CNYA Jun 18, 2026; GXC Jun 26, 2026
Frequency: CNYA Twice a year; GXC Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

CNYATwice a year · 19 paymentsAll CNYA payments⁠

GXCTwice a year · 19 paymentsAll GXC payments⁠

CNYA vs GXC Risk

Fall from peak · 5 years

CNYA
GXC

Risk facts

VolatilityStd dev, 3 years: CNYA 20.2%, betterGXC 20.7%
Return per unit of riskSharpe ratio, 3 years: CNYA 0.21GXC 0.27, better
Worst fallMax drawdown, 5 years: CNYA −44.6%, betterGXC −46.5%
Market sensitivityBeta, 5 years: CNYA 0.60GXC 0.69; Market = 1

CNYA and GXC in the news

All news⁠

Deep Dive
Korea funds gained 94% this year. China internet funds lost 28%
Sep 13, 2026CNYA

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CNYA vs GXC

In short

Stated mandate

Why people hold it

Worth knowing

How CNYA and GXC differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CNYA

Only in GXC

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Korea funds gained 94% this year. China internet funds lost 28%

How CNYA and GXC differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CNYA

Only in GXC

Weight gaps