FHLC vs KURE

FHLCAFidelity MSCI Health Care Index ETF

KUREDKraneShares MSCI All China Health Care Index ETF

In short

FHLC Health care, whole market. FHLC tracks an MSCI index that runs from mega-cap pharma down to small-cap biotech and device makers, roughly 400 names, for 0.08% a year.

KURE The US-listed route into China's health care sector in one ticker: about 50 Chinese pharma and medical names listed in the Mainland, Hong Kong and the US. A narrow, volatile slice of a huge market, not a broad pharma fund.

Stated mandate

FHLC The fund seeks to track the performance of the MSCI USA IMI Health Care Index before fees and expenses.

KURE KURE is designed to track the MSCI China All Shares Healthcare 10/40 Index, which represents Chinese companies engaged in the healthcare sector.

Why people hold it

• FHLC Charges 0.08% a year against a 0.50% median for broad health care ETFs. Only XLV matches that sticker; VHT sits a hair above.
• The IMI index it follows reaches for about 99% of US free-float market value, so smaller biotech and device names ride along with the pharma giants.msci.com
• Mirrors its benchmark closely, one of the tighter tracking jobs among broad health care funds. Distributions come quarterly.
• Fidelity has run it since 2013, and it has grown into a multi-billion-dollar fund with a plain vanilla index mandate.fidelity.com

• KURE One ticker spans Chinese health care across all three venues it trades in: Mainland A-shares, Hong Kong and US listings. Most funds in this category stop at US pharma.kraneshares.com
• Rules-based mandate, not a manager's China hunch: it tracks a published MSCI China health care benchmark and has been listed since 2018.sec.gov
• About 50 holdings keeps it a pure China health care basket, with no US mega-cap pharma diluting the exposure.

Worth knowing

• FHLC One sector, one country. Drug-pricing politics, patent cliffs and FDA rulings move the whole portfolio at once.
• Free-float cap weighting means a handful of mega-cap insurers and drugmakers carry most of the weight; that long tail of small names counts for less than it looks.msci.com
• Moderately traded rather than the category's volume leader, so spreads matter more on large or hurried orders.

• KURE Costs 0.65% net of a waiver through August 1, 2028 (0.79% gross), above the health care category median. Broad US sector funds like XLV (0.08%) and VHT (0.09%) sit a tier below.
• Single-country, single-sector, about 50 names: swings have run among the widest in its health care peer group, and Chinese policy shifts can move the whole basket.sec.gov
• Moderately traded rather than a category heavyweight, so spreads and order type matter more. Distributions come once or twice a year, not monthly.

Full FHLC profile⁠

Full KURE profile⁠