FLCH vs KBA: Grades, Fees and Holdings Compared

Franklin FTSE China ETF

FLCHANYSE Arca

KraneShares Bosera MSCI China A 50 Connect Index ETF

KBAANYSE Arca

Overlap

7.3%by weight

Expense ratio

FLCH −0.37pt a year

FLCH0.19%KBA0.56%

Avg volume · 30D

FLCH 3.7×the volume

FLCH108KKBA29.2K

5Y return · a year

KBA +5.8pt

FLCH−4.1%KBA+1.7%

FLCH vs KBA Performance

Oct 29, 2021 – Oct 30, 2026

−18.7%FLCH+9.0%KBA

Expense ratio: FLCH 0.19%, better; KBA 0.56%
Fund size: FLCH $252M; KBA $105M
1Y total return: FLCH −20.9%; KBA −5.5%, better
Yield (12M): FLCH 2.63%, better; KBA 1.71%
Holdings: FLCH 1112; KBA 52
Avg volume (30D): FLCH 108K sh, better; KBA 29.2K sh
NAV per share: FLCH $19.38; KBA $28.35
52W range

ETF.net Grade

Pillar letters and Scores for FLCH, KBA, with each pillar’s weight
Pillar	FLCH	KBA
Cost30% weight	A100Higher	A86
Mission25% weight	A87Higher	A83
Risk15% weight	B64	A76Higher
Tradability15% weight	B62Higher	C51
Holdings10% weight	B65Higher	B61
Durability5% weight	A70Higher	B60

Rank among China funds

How we build Categories ›

Same Category. FLCH and KBA 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 KBA 5th 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

Our read on each fund

ETF.net Research

FLCHAFranklin FTSE China ETF

KBAAKraneShares Bosera MSCI China A 50 Connect Index ETF

In short

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.

KBA The first US-listed ETF built on an MSCI China A-share index, running since 2014. It owns mainland Shanghai and Shenzhen stocks through Stock Connect rather than Hong Kong listings or ADRs.

Stated mandate

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

KBA The fund tracks the MSCI China A 50 Connect Index, which represents 50 large-cap Chinese A-shares listed in Shanghai and Shenzhen and accessible through Stock Connect.

Why people hold it

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

KBA Most US-listed China funds hold Hong Kong shares and ADRs. This one buys the onshore market itself: 50 large A-shares in Shanghai and Shenzhen, accessed via Stock Connect.kraneshares.com
The index takes the 50 largest A-shares but keeps at least two stocks per sector and matches the parent MSCI China A Index's sector weights, curbing the usual financials pile-up.msci.com msci.com 2
0.56% net of a contractual waiver through August 1, 2028 (0.79% gross), below the median fee among the 30 China funds we grade.kraneshares.com
Live since March 2014 via a KraneShares and Bosera partnership, and it tracks its index closely. One of the stronger implementations in the China peer group.kraneshares.com

Worth knowing

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.

KBA Thinly traded next to the big offshore China funds, so spreads can widen. Limit orders matter, especially since US hours do not overlap mainland trading.
FLCH (0.19%) and CXSE (0.32%) charge less, but they hold offshore China shares, a different market with different companies.
Fifty mega caps only: no small or mid caps, and distributions come once or twice a year rather than quarterly.

Full FLCH profile⁠

Full KBA profile⁠

FLCH vs KBA Holdings

How FLCH and KBA differ

Overlap by weight

7.3%

Shared holdings make up 97.5% of KBA and 7.3% of FLCH.

Level by level

Holdings49 in both7.3%
Sector11 Sectors63.2%
Countryby domicile98.1%
Asset classEquity100%

Sector

Sector weights in FLCH and KBA, widest gap first
Sector	More in FLCHMore in KBA	FLCH	KBA
Technology	KBA +19.0 points	11.3%	30.3%
Consumer Discretionary	FLCH +17.8 points	22.1%	4.3%
Communication	FLCH +15.3 points	16.5%	1.2%
Materials	KBA +7.1 points	5.5%	12.6%
Industrials	KBA +5.2 points	7.3%	12.5%
Consumer Staples	KBA +3.3 points	3.3%	6.6%
Health Care	FLCH +2.4 points	7.0%	4.6%
Utilities	KBA +1.6 points	1.9%	3.5%
Real Estate	FLCH +1.1 points	1.6%	0.5%
Financials	KBA +0.6 points	19.9%	20.4%
Energy	Same weight	3.5%	3.5%

Country, concentration and asset class

Country by domicile

Country weights in FLCH and KBA, widest gap first
Country	More in FLCHMore in KBA	FLCH	KBA
United States	FLCH +1.4 points	1.4%	0.0%
China	KBA +0.9 points	96.2%	97.1%
Hong Kong	KBA +1.0 points	1.9%	2.9%
Other countries (3)	FLCH +0.5 points	0.5%	0.0%

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

Concentration

Weight in the 10 largest Holdings

FLCH39.3%
KBA41.9%

Securities held

FLCH1,109
KBA50

Asset class

FLCH: Equity
KBA: Equity

Holdings

Only in FLCH1,060
In both49
Only in KBA1

Only in FLCH

1,060 securities, 92.7% 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%
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%
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%
Midea Group Co Ltd-H0.29%
Akeso Inc0.28%
J&T Global Express Ltd0.28%
China Mengniu Dairy Co0.28%
Postal Savings Bank of Ch0.28%

Only in KBA

1 security, 1.9% of KBA by weight

Midea Group Co Ltd-A1.87%

Weight gaps

All 49 Holdings in both funds, largest gap first.

Holding weights in FLCH and KBA, widest gap first
Holding	More in FLCHMore in KBA	FLCH	KBA
Zijin Mining Group Co Ltd	KBA +6.55 points	0.23%	6.78%
Contemporary Amperex Tech	KBA +6.10 points	0.41%	6.51%
Kweichow Moutai Co Ltd-A	KBA +4.98 points	0.70%	5.68%
Zhongji Innolight Co Ltd-	KBA +3.73 points	0.25%	3.98%
Cambricon Technologies-A	KBA +3.41 points	0.22%	3.63%
China Merchants Bank-A	KBA +3.18 points	0.36%	3.54%
China Yangtze Power Co Lt	KBA +2.82 points	0.29%	3.11%
Cmoc Group Ltd-A	KBA +2.78 points	0.10%	2.88%
Foxconn Industrial Intern	KBA +2.74 points	0.21%	2.95%
Byd Co Ltd -A	KBA +2.65 points	0.16%	2.81%
Hygon Information Technol	KBA +2.59 points	0.16%	2.75%
Wanhua Chemical Group Co	KBA +2.46 points	0.08%	2.54%
Agricultural Bank of Chin	KBA +2.26 points	0.26%	2.52%
Naura Technology Group Co	KBA +2.11 points	0.14%	2.25%
Luxshare Precision Indust	KBA +2.05 points	0.13%	2.18%
Ping An Insurance Group C	KBA +2.04 points	0.23%	2.27%
Eoptolink Technology Inc	KBA +1.99 points	0.11%	2.10%
Ind & Comm Bk of China-A	KBA +1.91 points	0.27%	2.18%
Wuxi Apptec Co Ltd-A	KBA +1.80 points	0.14%	1.94%
Bank of Communications Co	KBA +1.62 points	0.16%	1.78%
China Cssc Holdings Ltd-A	KBA +1.54 points	0.10%	1.64%
Beijing-Shanghai High Spe	KBA +1.49 points	0.10%	1.59%
Jiangsu Hengrui Pharmaceu	KBA +1.48 points	0.13%	1.61%
Petrochina Co Ltd-A	KBA +1.44 points	0.15%	1.59%
Industrial Bank Co Ltd -A	KBA +1.43 points	0.17%	1.60%
Shengyi Technology Co Ltd	KBA +1.38 points	0.08%	1.46%
Advanced Micro-Fabricatio	KBA +1.36 points	0.08%	1.44%
Suzhou Tfc Optical Commun	KBA +1.22 points	0.07%	1.29%
China Shenhua Energy Co-A	KBA +1.20 points	0.12%	1.32%
Shanghai Pudong Devel Ban	KBA +1.17 points	0.13%	1.30%
Citic Securities Co-A	KBA +1.15 points	0.12%	1.27%
Nari Technology Co Ltd-A	KBA +1.12 points	0.07%	1.19%
Shaanxi Coal Industry Co	KBA +1.12 points	0.11%	1.23%
Shenzhen Mindray Bio-Medi	KBA +1.11 points	0.09%	1.20%
Suzhou Dongshan Precision	KBA +1.08 points	0.07%	1.15%
East Money Information Co	KBA +1.07 points	0.12%	1.19%
Bank of China Ltd-A	KBA +1.01 points	0.12%	1.13%
Victory Giant Technology	KBA +0.93 points	0.05%	0.98%
Wuliangye Yibin Co Ltd-A	KBA +0.91 points	0.12%	1.03%
Guotai Haitong Securities	KBA +0.86 points	0.09%	0.95%
Sungrow Power Supply Co L	KBA +0.85 points	0.05%	0.90%
Bank of Ningbo Co Ltd -A	KBA +0.81 points	0.10%	0.91%
Ping An Bank Co Ltd-A	KBA +0.80 points	0.09%	0.89%
China National Nuclear Po	KBA +0.75 points	0.08%	0.83%
China Pacific Insurance G	KBA +0.75 points	0.08%	0.83%
China United Network-A	KBA +0.72 points	0.06%	0.78%
Muyuan Foods Group Co Ltd	KBA +0.71 points	0.09%	0.80%
China Merchants Shekou In	KBA +0.50 points	0.03%	0.53%
Zhejiang Century Huatong	KBA +0.45 points	0.03%	0.48%

All 967 FLCH holdings⁠All 88 KBA 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.

FLCH vs KBA Cost

Overpaying KBA vs FLCH

$7,136

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

FLCH 0.19%
$3,952
KBA 0.56%
$11,088

Amount$10,000

Years30 years

Cost over time

FLCH 0.19%
KBA 0.56%
Overpaying

Year by year

Year	FLCH	KBA	Overpaying
10	$347	$1,006	$659
20	$1,351	$3,855	$2,504
30	$3,952	$11,088	$7,136

Expense ratio

0.19%FLCH, cheaper
0.56%KBA

FLCH0.19%KBA0.56%

0.19%5.01%

Middle half of China funds
Median 0.65%

FLCH cheapest of 28 funds

KBA 4th cheapest of 28 funds

FLCH vs KBA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FLCH 2.63%, better; KBA 1.71%
Payout (12M): FLCH $0.51; KBA $0.48
Last payment: FLCH $0.14; KBA $0.48
Ex-dividend: FLCH Jun 26, 2026; KBA Dec 22, 2025
Paid on: FLCH Jul 6, 2026; KBA Dec 23, 2025
Frequency: FLCH Twice a year; KBA Annual

Distribution history

Per share, 2017 to 2026, same scale for both

FLCHTwice a year · 18 paymentsAll FLCH payments⁠

KBAAnnual · 10 paymentsAll KBA payments⁠

FLCH vs KBA Risk

Fall from peak · 5 years

FLCH
KBA

Risk facts

VolatilityStd dev, 3 years: FLCH 21.1%KBA 19.2%, better
Return per unit of riskSharpe ratio, 3 years: FLCH 0.29KBA 0.43, better
Worst fallMax drawdown, 5 years: FLCH −48.1%KBA −39.7%, better
Market sensitivityBeta, 5 years: FLCH 0.55KBA 0.68; Market = 1

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