ECNS vs FLCH: Grades, Fees and Holdings Compared

iShares MSCI China Small-Cap ETF

ECNSBNYSE Arca

Franklin FTSE China ETF

FLCHANYSE Arca

Overlap

2.3%by weight

Expense ratio

FLCH −0.40pt a year

ECNS0.59%FLCH0.19%

Avg volume · 30D

FLCH 11.4×the volume

ECNS9.51KFLCH108K

5Y return · a year

FLCH +3.8pt

ECNS−7.9%FLCH−4.1%

ECNS vs FLCH Performance

Oct 29, 2021 – Oct 30, 2026

−33.6%ECNS−18.7%FLCH

Expense ratio: ECNS 0.59%; FLCH 0.19%, better
Fund size: ECNS $56M; FLCH $252M
1Y total return: ECNS −25.7%; FLCH −20.9%, better
Yield (12M): ECNS 7.46%, better; FLCH 2.63%
Holdings: ECNS 254; FLCH 1112
Avg volume (30D): ECNS 9.51K sh; FLCH 108K sh, better
NAV per share: ECNS $25.30; FLCH $19.38
52W range

ETF.net Grade

Pillar letters and Scores for ECNS, FLCH, with each pillar’s weight
Pillar	ECNS	FLCH
Cost30% weight	A78	A100Higher
Mission25% weight	A74	A87Higher
Risk15% weight	C42	B64Higher
Tradability15% weight	F23	B62Higher
Holdings10% weight	A84Higher	B65
Durability5% weight	A70	A70

Rank among China funds

How we build Categories ›

Same Category. ECNS 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 ECNS 8th 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 7ACNYAiShares MSCI China A ETFScore 70
Rank 8BECNSiShares MSCI China Small-Cap ETFScore 63
Rank 8BTCHIiShares MSCI China Multisector Tech ETFScore 63

Our read on each fund

ETF.net Research

ECNSBiShares MSCI China Small-Cap ETF

FLCHAFranklin FTSE China ETF

In short

ECNS Most US-listed China funds fish in large-cap waters. ECNS works the other end of the market: an index of small-cap Chinese equities, roughly 300 of them, from iShares, running since 2010.

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

ECNS The fund seeks to track an index composed of small-cap Chinese equities.

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

ECNS Tracks the MSCI China Small Cap Index, roughly 300 names, reaching the smaller Chinese companies that broad-market China funds such as MCHI and GXC largely leave out.ishares.com
Expense ratio of 0.59%, below the median fee across its US-listed China peer group.ishares.com
Live since September 2010, giving it a continuous record through several full China market cycles, and it sits in the upper half of its China cohort on our review.
Spreads exposure across a wide basket rather than leaning on a handful of index heavyweights, so no single name drives the fund.

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

ECNS Thinly traded with a modest asset base, so spreads can be wider than in the household-name China funds. Limit orders do more work here.
Single-country small caps are the volatile corner of an already volatile market, carrying China-specific regulatory and currency exposure.
Distributions arrive annually or semiannually, not on a monthly schedule.

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 ECNS profile⁠

Full FLCH profile⁠

ECNS vs FLCH Holdings

How ECNS and FLCH differ

Overlap by weight

2.3%

Shared holdings make up 42.0% of ECNS and 2.6% of FLCH.

Level by level

Holdings70 in both2.3%
Sector11 Sectors62.4%
Countryby domicile97.2%
Asset classEquity100%

Sector

Sector weights in ECNS and FLCH, widest gap first
Sector	More in ECNSMore in FLCH	ECNS	FLCH
Financials	FLCH +15.4 points	4.5%	19.9%
Health Care	ECNS +14.7 points	21.7%	7.0%
Consumer Discretionary	FLCH +13.4 points	8.7%	22.1%
Communication	FLCH +8.7 points	7.8%	16.5%
Industrials	ECNS +8.0 points	15.3%	7.3%
Real Estate	ECNS +6.7 points	8.3%	1.6%
Materials	ECNS +2.6 points	8.1%	5.5%
Technology	ECNS +2.4 points	13.7%	11.3%
Consumer Staples	ECNS +2.1 points	5.4%	3.3%
Utilities	ECNS +0.6 points	2.5%	1.9%
Energy	ECNS +0.5 points	4.0%	3.5%

Country, concentration and asset class

Country by domicile

Country weights in ECNS and FLCH, widest gap first
Country	More in ECNSMore in FLCH	ECNS	FLCH
Taiwan	ECNS +1.4 points	1.5%	0.1%
China	FLCH +1.2 points	95.0%	96.2%
Singapore	ECNS +1.2 points	1.3%	0.1%
United States	FLCH +1.0 points	0.4%	1.4%
Other countries (3)	FLCH +0.4 points	1.9%	2.3%

Outside the US: ECNS 3% developed, 97% emerging. FLCH 2% developed, 98% emerging.

Concentration

Weight in the 10 largest Holdings

ECNS15.2%
FLCH39.3%

Securities held

ECNS248
FLCH1,109

Asset class

ECNS: Equity
FLCH: Equity

Holdings

Only in ECNS178
In both70
Only in FLCH1,039

Only in ECNS

178 securities, 57.7% of ECNS by weight

Atour Lifestyle Holdings American1.51%
Tcl Electronics Holdings Ltd1.41%
Dongyue Group Ltd1.26%
Keymed Biosciences1.24%
Hutchmed (China) Ltd1.09%
Hesai Group Class B1.08%
Lingbao Gold Group Ltd H1.07%
Kingsoft Cloud Holdings Ltd1.01%
Innocare Pharma1.00%
Xd0.93%
Simcere Pharmaceutical Group Ltd0.79%
Ascentage Pharma Group Internation0.75%
Harbin Electric Ltd H0.70%
Shanghai Microport Medbot Class H0.69%
Chinasoft International0.68%
Everest Medicines0.68%
Consun Pharmaceutical Group Ltd0.65%
Shanghai Conant Optical Co Ltd H0.63%
Phancy Group Ltd H0.63%
Cgn Mining Company Ltd0.62%
Evergrande Property Services Group0.59%
Art Group Holdings Ltd0.56%
Lifetech Scientific Corp0.54%
Global New Material International0.53%
China Xlx Fertiliser Ltd0.52%
Cstone Pharmaceuticals0.51%
China Youran Dairy Group Ltd0.50%
Jinxin Fertility Group0.49%
Brilliance China Automotive Holdin0.49%
Greentown Service Group Ltd0.49%
China Tobacco International (Hk) L0.49%
Lonking Holdings Ltd0.49%
Wasion Holdings Ltd0.48%
Sunac China Holdings0.48%
Precision Tsugami China Corp Ltd0.47%
Gba Ai Computing Tech Ltd0.46%
Newborn Town Inc0.46%
Nexteer Automotive Group Ltd0.43%
Tongguan Gold Group Ltd0.43%
China Overseas Grand Oceans Group0.43%
Jnby Design Ltd0.42%
China Everbright Ltd0.42%
Grand Pharmaceutical Group Ltd0.42%
Cimc Enric Holdings0.41%
Fufeng Group Ltd0.41%
Onewo Inc H0.41%
China Overseas Property Holdings0.40%
Gushengtang Holdings0.40%
Sunshine Lake Pharma Ltd Class H0.40%
Shoucheng Holdings0.39%

Only in FLCH

1,039 securities, 97.4% 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%
Contemporary Amperex Tech0.41%
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%

Weight gaps

All 70 Holdings in both funds, largest gap first.

Holding weights in ECNS and FLCH, widest gap first
Holding	More in ECNSMore in FLCH	ECNS	FLCH
Kingdee Int L Software Group Ltd	ECNS +2.09 points	2.21%	0.12%
Zai Lab Ltd	ECNS +1.68 points	1.77%	0.09%
China Everbright Environment Group	ECNS +1.47 points	1.55%	0.08%
Minth Group	ECNS +1.37 points	1.45%	0.08%
Joyy AdrJOYY	ECNS +1.31 points	1.39%	0.08%
China Ruyi Holdings	ECNS +1.31 points	1.38%	0.07%
Gcl Technology Holdings	ECNS +1.18 points	1.26%	0.08%
Meitu Inc	ECNS +1.17 points	1.23%	0.06%
China Medical System Holdings	ECNS +1.04 points	1.10%	0.06%
East Buy Holding Ltd	ECNS +0.94 points	1.00%	0.06%
China Conch Venture Holdings Ltd	ECNS +0.93 points	0.98%	0.05%
Country Garden Services Holdings L	ECNS +0.90 points	0.95%	0.05%
Autohome Ads Representing Inc ClaATHM	ECNS +0.84 points	0.89%	0.05%
Zhongan Online P & C Insurance Cor	ECNS +0.81 points	0.85%	0.04%
Sany Heavy Equipment International	ECNS +0.78 points	0.82%	0.04%
China Communications Services Corp	ECNS +0.77 points	0.81%	0.04%
China Literature Ltd	ECNS +0.75 points	0.79%	0.04%
Xinyi Solar Holdings Ltd	ECNS +0.74 points	0.78%	0.04%
Legend Holdings Corp H	ECNS +0.74 points	0.78%	0.04%
China Resources Pharmaceutical Gro	ECNS +0.73 points	0.78%	0.05%
Travelsky Technology Ltd H	ECNS +0.73 points	0.77%	0.04%
Sinopec Engineering Group Ltd H H	ECNS +0.67 points	0.71%	0.04%
Pony Ai Inc	ECNS +0.67 points	0.72%	0.05%
Shandong Weigao Gp Medical Polymer	ECNS +0.66 points	0.70%	0.04%
Nine Dragons Paper Holdings Ltd	ECNS +0.64 points	0.67%	0.03%
Avichina Industry & Technology Ltd	ECNS +0.64 points	0.68%	0.04%
Yihai International Holding	ECNS +0.64 points	0.68%	0.04%
Netease Cloud Music Inc	ECNS +0.63 points	0.66%	0.03%
Cosco Shipping Ports Ltd	ECNS +0.62 points	0.66%	0.04%
Anhui Expressway Ltd H	ECNS +0.57 points	0.61%	0.04%
Shenzhen International Holdings	ECNS +0.57 points	0.60%	0.03%
Damai Entertainment Holdings Ltd	ECNS +0.52 points	0.55%	0.03%
China Jinmao Holdings Group Ltd	ECNS +0.51 points	0.55%	0.04%
Beijing Enterprises Water Group Lt	ECNS +0.49 points	0.52%	0.03%
Greentown China	ECNS +0.48 points	0.51%	0.03%
Xtep International Ltd	ECNS +0.48 points	0.50%	0.02%
Zjld Group Inc	ECNS +0.46 points	0.49%	0.03%
Shanghai Industrial Holdings Ltd	ECNS +0.46 points	0.49%	0.03%
China Suntien Green Energy Corp Lt	ECNS +0.45 points	0.48%	0.03%
Microport Scientific Corp	ECNS +0.45 points	0.48%	0.03%
Shougang Fushan Resources Group Lt	ECNS +0.44 points	0.46%	0.02%
Weibo Class A Corp	ECNS +0.42 points	0.44%	0.02%
Angelalign Technology	ECNS +0.41 points	0.44%	0.03%
Ping An Healthcare and Technology	ECNS +0.40 points	0.43%	0.03%
Yuexiu Property Company	ECNS +0.36 points	0.38%	0.02%
Poly Property Services Ltd H	ECNS +0.35 points	0.37%	0.02%
Qfin Holdings AdrQFIN	ECNS +0.33 points	0.35%	0.02%
Lee & Man Paper Manufacturing Ltd	ECNS +0.33 points	0.35%	0.02%
Guangshen Railway Ltd H	ECNS +0.28 points	0.29%	0.01%
Shenzhen Expressway Corp Ltd H	ECNS +0.26 points	0.27%	0.01%
Towngas Smart Energy Ltd	ECNS +0.25 points	0.27%	0.02%
China Lesso Group Holdings Ltd	ECNS +0.23 points	0.24%	<0.01%
Xinhua Winshare Publishing and Med	ECNS +0.23 points	0.24%	0.01%
Hopson Development Holdings	ECNS +0.22 points	0.23%	<0.01%
Joinn Laboratories (China) Class H	ECNS +0.21 points	0.23%	0.02%
Beijing Jingneng Clean Energy Ltd	ECNS +0.21 points	0.22%	0.01%
Topsports International Holdings	ECNS +0.21 points	0.22%	0.01%
Flat Glass Group Ltd H	ECNS +0.19 points	0.20%	0.01%
Blue Moon Group Holdings	ECNS +0.18 points	0.20%	0.02%
Boshiwa International Holding Ltd	FLCH +0.16 points	0.00%	0.16%
Zhongsheng Group Holdings	ECNS +0.16 points	0.17%	<0.01%
China Bohai Bank Ltd H H	ECNS +0.16 points	0.17%	<0.01%
Maanshan Iron and Steel Ltd H	ECNS +0.15 points	0.16%	<0.01%
Youyuan International Holdings Ltd	FLCH +0.15 points	0.00%	0.15%
Shanghai Mechanical & Electrical I	ECNS +0.14 points	0.15%	0.01%
Weifu High-Technology Ltd B	ECNS +0.14 points	0.15%	0.01%
Yantai Changyu Pioneer Wine Ltd B	ECNS +0.14 points	0.15%	0.01%
Angang Steel Ltd H	ECNS +0.13 points	0.14%	<0.01%
Central China Securities Ltd H	ECNS +0.11 points	0.12%	<0.01%
Voyah Automotive Technology Ltd Class	ECNS +0.08 points	0.09%	<0.01%

All 249 ECNS 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.

ECNS vs FLCH Cost

Overpaying ECNS vs FLCH

$7,683

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

ECNS 0.59%
$11,635
FLCH 0.19%
$3,952

Amount$10,000

Years30 years

Cost over time

ECNS 0.59%
FLCH 0.19%
Overpaying

Year by year

Year	ECNS	FLCH	Overpaying
10	$1,058	$347	$711
20	$4,051	$1,351	$2,700
30	$11,635	$3,952	$7,683

Expense ratio

0.59%ECNS
0.19%FLCH, cheaper

FLCH0.19%ECNS0.59%

0.19%5.01%

Middle half of China funds
Median 0.65%

FLCH cheapest of 28 funds

ECNS 5th cheapest of 28 funds

ECNS vs FLCH Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ECNS 7.46%, better; FLCH 2.63%
Payout (12M): ECNS $1.90; FLCH $0.51
Last payment: ECNS $0.45; FLCH $0.14
Ex-dividend: ECNS Jun 15, 2026; FLCH Jun 26, 2026
Paid on: ECNS Jun 18, 2026; FLCH Jul 6, 2026
Frequency: ECNS Twice a year; FLCH Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

ECNSTwice a year · 19 paymentsAll ECNS payments⁠

FLCHTwice a year · 18 paymentsAll FLCH payments⁠

ECNS vs FLCH Risk

Fall from peak · 5 years

ECNS
FLCH

Risk facts

VolatilityStd dev, 3 years: ECNS 26.0%FLCH 21.1%, better
Return per unit of riskSharpe ratio, 3 years: ECNS 0.11FLCH 0.29, better
Worst fallMax drawdown, 5 years: ECNS −55.6%FLCH −48.1%, better
Market sensitivityBeta, 5 years: ECNS 0.81FLCH 0.55; Market = 1

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