ECNS vs GXC: Grades, Fees and Holdings Compared

iShares MSCI China Small-Cap ETF

ECNSBNYSE Arca

State Street SPDR S&P China ETF

GXCANYSE Arca

Overlap

4.7%by weight

Expense ratio

ECNS0.59%GXC0.59%

Avg volume · 30D

GXC 2.5×the volume

ECNS9.51KGXC23.4K

10Y return · a year

GXC +3.5pt

ECNS−0.9%GXC+2.6%

ECNS vs GXC Performance

Oct 29, 2021 – Oct 30, 2026

−33.6%ECNS−18.2%GXC

Expense ratio: ECNS 0.59%; GXC 0.59%
Fund size: ECNS $56M; GXC $421M
1Y total return: ECNS −25.7%; GXC −19.1%, better
Yield (12M): ECNS 7.46%, better; GXC 2.46%
Holdings: ECNS 254; GXC 1539
Avg volume (30D): ECNS 9.51K sh; GXC 23.4K sh, better
NAV per share: ECNS $25.30; GXC $80.17
52W range

ETF.net Grade

Pillar letters and Scores for ECNS, GXC, with each pillar’s weight
Pillar	ECNS	GXC
Cost30% weight	A78	A78
Mission25% weight	A74	A85Higher
Risk15% weight	C42	B67Higher
Tradability15% weight	F23	B69Higher
Holdings10% weight	A84Higher	A76
Durability5% weight	A70	A84Higher

Rank among China funds

How we build Categories ›

Same Category. ECNS 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 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 4AGXCState Street SPDR S&P China ETFScore 76
Rank 5AKBAKraneShares Bosera MSCI China A 50 Connect Index ETFScore 74
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

GXCAState Street SPDR S&P 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.

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

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

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

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.

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

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.

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 ECNS profile⁠

Full GXC profile⁠

ECNS vs GXC Holdings

How ECNS and GXC differ

Overlap by weight

4.7%

Shared holdings make up 83.0% of ECNS and 4.8% of GXC.

Level by level

Holdings176 in both4.7%
Sector11 Sectors67.7%
Countryby domicile97.3%
Asset classEquity100%

Sector

Sector weights in ECNS and GXC, widest gap first
Sector	More in ECNSMore in GXC	ECNS	GXC
Financials	GXC +14.5 points	4.5%	19.0%
Health Care	ECNS +14.3 points	21.7%	7.4%
Consumer Discretionary	GXC +12.3 points	8.7%	21.0%
Real Estate	ECNS +6.3 points	8.3%	2.0%
Industrials	ECNS +5.7 points	15.3%	9.6%
Communication	GXC +5.5 points	7.8%	13.3%
Consumer Staples	ECNS +1.7 points	5.4%	3.7%
Technology	ECNS +1.7 points	13.7%	12.0%
Materials	ECNS +1.6 points	8.1%	6.5%
Energy	ECNS +0.6 points	4.0%	3.4%
Utilities	ECNS +0.4 points	2.5%	2.1%

Country, concentration and asset class

Country by domicile

Country weights in ECNS and GXC, widest gap first
Country	More in ECNSMore in GXC	ECNS	GXC
Taiwan	ECNS +1.4 points	1.5%	0.1%
United States	GXC +1.3 points	0.4%	1.7%
Singapore	ECNS +1.1 points	1.3%	0.2%
Hong Kong	GXC +1.1 points	1.7%	2.8%
Other countries (4)	GXC +0.1 points	95.2%	95.3%

Outside the US: ECNS 3% developed, 97% emerging. GXC 3% developed, 97% emerging.

Concentration

Weight in the 10 largest Holdings

ECNS15.2%
GXC32.9%

Securities held

ECNS248
GXC1,533

Asset class

ECNS: Equity
GXC: Equity

Holdings

Only in ECNS72
In both176
Only in GXC1,357

Only in ECNS

72 securities, 16.6% of ECNS by weight

China Ruyi Holdings1.38%
Hutchmed (China) Ltd1.09%
Sinopec Engineering Group Ltd H H0.71%
Art Group Holdings Ltd0.56%
China Xlx Fertiliser Ltd0.52%
China Tobacco International (Hk) L0.49%
Shanghai Industrial Holdings Ltd0.49%
Weibo Class A Corp0.44%
Nexteer Automotive Group Ltd0.43%
Tongguan Gold Group Ltd0.43%
Jnby Design Ltd0.42%
Grand Pharmaceutical Group Ltd0.42%
Onewo Inc H0.41%
Genertec Universal Medical Group L0.36%
Kinetic Development Group Ltd0.35%
China Modern Dairy Holdings Ltd0.35%
Fih Mobile Ltd0.34%
Lao Feng Xiang Ltd B0.34%
Sinofert Holdings Ltd0.34%
West China Cement Ltd0.32%
Sy Holdings Group Ltd0.30%
Zylox-Tonbridge Medical Tech H0.29%
Cssc (Hong Kong) Shipping Ltd0.28%
China Traditional Chi Medicine Co0.28%
Dekon Food and Agriculture Group H0.27%
Towngas Smart Energy Ltd0.27%
Dynagreen Environmental Protection0.26%
China Resources Beverage Holdings0.24%
Joinn Laboratories (China) Class H0.23%
China Foods Ltd0.23%
Dpc Dash Ltd0.22%
Microport Neurotech Corp0.22%
Rept Battero Energy H0.22%
China East Education Holdings Ltd0.21%
K Wah International Holdings Ltd0.19%
Anjoy Foods Group Ltd Class H0.19%
Shanghai Zhenhua Heavy Industry Lt0.19%
Zhongyu Energy Holdings0.18%
China Risun Group Ltd0.17%
Binjiang Service Group Ltd0.16%
China Yuchai International Ltd0.15%
Weifu High-Technology Ltd B0.15%
Shanghai Chicmax Cosmetic Cls H H0.15%
Shanghai Mechanical & Electrical I0.15%
Yantai Changyu Pioneer Wine Ltd B0.15%
Chongqing Machinery & Electric Ltd0.14%
Logan Group Company Ltd0.14%
Sun Art Retail Group Ltd0.14%
Shanghai Chlor Alkali Chemical Cla0.14%
Beijing Tong Ren Tang Chinese Medi0.13%

Only in GXC

1,357 securities, 94.7% 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%
Contemporary Amperex Techn A0.45%
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%

Weight gaps

The 100 widest of 176 Holdings in both funds.

Holding weights in ECNS and GXC, widest gap first
Holding	More in ECNSMore in GXC	ECNS	GXC
Kingdee Int L Software Group Ltd	ECNS +2.09 points	2.21%	0.12%
Zai Lab Ltd	ECNS +1.70 points	1.77%	0.07%
China Everbright Environment Group	ECNS +1.48 points	1.55%	0.07%
Atour Lifestyle Holdings AmericanATAT	ECNS +1.46 points	1.51%	0.05%
Minth Group	ECNS +1.39 points	1.45%	0.06%
Tcl Electronics Holdings Ltd	ECNS +1.36 points	1.41%	0.05%
Joyy AdrJOYY	ECNS +1.29 points	1.39%	0.10%
Gcl Technology Holdings	ECNS +1.20 points	1.26%	0.06%
Dongyue Group Ltd	ECNS +1.20 points	1.26%	0.06%
Keymed Biosciences	ECNS +1.19 points	1.24%	0.05%
Meitu Inc	ECNS +1.18 points	1.23%	0.05%
China Medical System Holdings	ECNS +1.04 points	1.10%	0.06%
Hesai Group Class B	ECNS +1.03 points	1.08%	0.05%
Lingbao Gold Group Ltd H	ECNS +1.02 points	1.07%	0.05%
Kingsoft Cloud Holdings Ltd	ECNS +0.97 points	1.01%	0.04%
Innocare Pharma	ECNS +0.96 points	1.00%	0.04%
East Buy Holding Ltd	ECNS +0.94 points	1.00%	0.06%
China Conch Venture Holdings Ltd	ECNS +0.91 points	0.98%	0.07%
Xd	ECNS +0.89 points	0.93%	0.04%
Country Garden Services Holdings L	ECNS +0.89 points	0.95%	0.06%
Autohome Ads Representing Inc ClaATHM	ECNS +0.84 points	0.89%	0.05%
Zhongan Online P & C Insurance Cor	ECNS +0.83 points	0.85%	0.02%
Sany Heavy Equipment International	ECNS +0.78 points	0.82%	0.04%
China Communications Services Corp	ECNS +0.75 points	0.81%	0.06%
Legend Holdings Corp H	ECNS +0.75 points	0.78%	0.03%
Simcere Pharmaceutical Group Ltd	ECNS +0.74 points	0.79%	0.05%
China Literature Ltd	ECNS +0.74 points	0.79%	0.05%
China Resources Pharmaceutical Gro	ECNS +0.74 points	0.78%	0.04%
Xinyi Solar Holdings Ltd	ECNS +0.74 points	0.78%	0.04%
Travelsky Technology Ltd H	ECNS +0.73 points	0.77%	0.04%
Ascentage Pharma Group Internation	ECNS +0.72 points	0.75%	0.03%
Pony Ai Inc	ECNS +0.68 points	0.72%	0.04%
Harbin Electric Ltd H	ECNS +0.67 points	0.70%	0.03%
Shanghai Microport Medbot Class H	ECNS +0.66 points	0.69%	0.03%
Shandong Weigao Gp Medical Polymer	ECNS +0.66 points	0.70%	0.04%
Yihai International Holding	ECNS +0.65 points	0.68%	0.03%
Everest Medicines	ECNS +0.65 points	0.68%	0.03%
Avichina Industry & Technology Ltd	ECNS +0.64 points	0.68%	0.04%
Netease Cloud Music Inc	ECNS +0.63 points	0.66%	0.03%
Chinasoft International	ECNS +0.63 points	0.68%	0.05%
Cosco Shipping Ports Ltd	ECNS +0.63 points	0.66%	0.03%
Nine Dragons Paper Holdings Ltd	ECNS +0.62 points	0.67%	0.05%
Shanghai Conant Optical Co Ltd H	ECNS +0.62 points	0.63%	0.01%
Phancy Group Ltd H	ECNS +0.61 points	0.63%	0.02%
Cgn Mining Company Ltd	ECNS +0.59 points	0.62%	0.03%
Evergrande Property Services Group	ECNS +0.57 points	0.59%	0.02%
Consun Pharmaceutical Group Ltd	ECNS +0.58 points	0.65%	0.07%
Anhui Expressway Ltd H	ECNS +0.56 points	0.61%	0.05%
Shenzhen International Holdings	ECNS +0.55 points	0.60%	0.05%
Lifetech Scientific Corp	ECNS +0.52 points	0.54%	0.02%
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%
Global New Material International	ECNS +0.49 points	0.53%	0.04%
Beijing Enterprises Water Group Lt	ECNS +0.49 points	0.52%	0.03%
Cstone Pharmaceuticals	ECNS +0.49 points	0.51%	0.02%
China Youran Dairy Group Ltd	ECNS +0.49 points	0.50%	0.01%
Greentown China	ECNS +0.48 points	0.51%	0.03%
Brilliance China Automotive Holdin	ECNS +0.47 points	0.49%	0.02%
Xtep International Ltd	ECNS +0.47 points	0.50%	0.03%
Jinxin Fertility Group	ECNS +0.47 points	0.49%	0.02%
Zjld Group Inc	ECNS +0.47 points	0.49%	0.02%
Precision Tsugami China Corp Ltd	ECNS +0.46 points	0.47%	0.01%
Microport Scientific Corp	ECNS +0.46 points	0.48%	0.02%
Greentown Service Group Ltd	ECNS +0.45 points	0.49%	0.04%
Sunac China Holdings	ECNS +0.45 points	0.48%	0.03%
China Suntien Green Energy Corp Lt	ECNS +0.44 points	0.48%	0.04%
Wasion Holdings Ltd	ECNS +0.45 points	0.48%	0.03%
Newborn Town Inc	ECNS +0.44 points	0.46%	0.02%
Gba Ai Computing Tech Ltd	ECNS +0.43 points	0.46%	0.03%
Lonking Holdings Ltd	ECNS +0.43 points	0.49%	0.06%
Angelalign Technology	ECNS +0.42 points	0.44%	0.02%
Shougang Fushan Resources Group Lt	ECNS +0.42 points	0.46%	0.04%
China Overseas Grand Oceans Group	ECNS +0.41 points	0.43%	0.02%
Ping An Healthcare and Technology	ECNS +0.41 points	0.43%	0.02%
China Everbright Ltd	ECNS +0.39 points	0.42%	0.03%
Gushengtang Holdings	ECNS +0.39 points	0.40%	0.01%
Fufeng Group Ltd	ECNS +0.39 points	0.41%	0.02%
Cimc Enric Holdings	ECNS +0.38 points	0.41%	0.03%
Shoucheng Holdings	ECNS +0.38 points	0.39%	0.01%
Sunshine Lake Pharma Ltd Class H	ECNS +0.38 points	0.40%	0.02%
China Overseas Property Holdings	ECNS +0.37 points	0.40%	0.03%
Poly Property Services Ltd H	ECNS +0.36 points	0.37%	<0.01%
Carsgen Therapeutics Ltd	ECNS +0.36 points	0.38%	0.02%
Yuexiu Property Company	ECNS +0.36 points	0.38%	0.02%
Chervon Holdings Ltd	ECNS +0.35 points	0.37%	0.02%
Bloks Group Ltd	ECNS +0.33 points	0.35%	0.02%
Vnet Group AdrVNET	ECNS +0.33 points	0.35%	0.02%
Qfin Holdings AdrQFIN	ECNS +0.33 points	0.35%	0.02%
Country Garden Holdings Ltd	ECNS +0.33 points	0.34%	0.01%
Lee & Man Paper Manufacturing Ltd	ECNS +0.31 points	0.35%	0.04%
Tuya Adr Representing Class ATUYA	ECNS +0.31 points	0.32%	0.01%
Robosense Technology Ltd	ECNS +0.30 points	0.32%	0.02%
361 Degrees International Ltd	ECNS +0.31 points	0.33%	0.02%
Luye Pharma Group	ECNS +0.30 points	0.32%	0.02%
Seazen Group Ltd	ECNS +0.30 points	0.32%	0.02%
Tiangong International Ltd	ECNS +0.30 points	0.31%	<0.01%
Hygeia Healthcare Holdings	ECNS +0.30 points	0.31%	0.01%
Daqo New Energy Adr RepresentingDQ	ECNS +0.30 points	0.32%	0.02%
Weilong Delicious Global Holdings	ECNS +0.29 points	0.30%	0.01%
Abbisko Cayman	ECNS +0.28 points	0.29%	0.01%

All 249 ECNS 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.

ECNS vs GXC Cost

Same expense ratio

$11,635

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

ECNS 0.59%
$11,635
GXC 0.59%
$11,635

Amount$10,000

Years30 years

Cost over time

ECNS 0.59%
GXC 0.59%

Year by year

Year	ECNS	GXC
10	$1,058	$1,058
20	$4,051	$4,051
30	$11,635	$11,635

Expense ratio

0.59%ECNS
0.59%GXC

ECNS0.59%GXC0.59%

0.19%5.01%

Middle half of China funds
Median 0.65%

ECNS 5th cheapest of 28 funds

GXC 5th cheapest of 28 funds

ECNS vs GXC Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ECNS 7.46%, better; GXC 2.46%
Payout (12M): ECNS $1.90; GXC $1.99
Last payment: ECNS $0.45; GXC $0.67
Ex-dividend: ECNS Jun 15, 2026; GXC Jun 22, 2026
Paid on: ECNS Jun 18, 2026; GXC Jun 26, 2026
Frequency: ECNS Twice a year; GXC Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

ECNSTwice a year · 19 paymentsAll ECNS payments⁠

GXCTwice a year · 19 paymentsAll GXC payments⁠

ECNS vs GXC Risk

Fall from peak · 5 years

ECNS
GXC

Risk facts

VolatilityStd dev, 3 years: ECNS 26.0%GXC 20.7%, better
Return per unit of riskSharpe ratio, 3 years: ECNS 0.11GXC 0.27, better
Worst fallMax drawdown, 5 years: ECNS −55.6%GXC −46.5%, better
Market sensitivityBeta, 5 years: ECNS 0.81GXC 0.69; Market = 1

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