FXI vs GXC: Grades, Fees and Holdings Compared

iShares China Large-Cap ETF

FXIBNYSE Arca

State Street SPDR S&P China ETF

GXCANYSE Arca

Overlap

44.8%by weight

Expense ratio

GXC −0.14pt a year

FXI0.73%GXC0.59%

Avg volume · 30D

FXI 834.2×the volume

FXI19.5MGXC23.4K

10Y return · a year

GXC +1.2pt

FXI+1.4%GXC+2.6%

FXI vs GXC Performance

Oct 29, 2021 – Oct 30, 2026

−7.2%FXI−18.2%GXC

Expense ratio: FXI 0.73%; GXC 0.59%, better
Fund size: FXI $3.77B; GXC $421M
1Y total return: FXI −15.2%, better; GXC −19.1%
Yield (12M): FXI 2.05%; GXC 2.46%, better
Holdings: FXI 55; GXC 1539
Avg volume (30D): FXI 19.5M sh, better; GXC 23.4K sh
NAV per share: FXI $32.92; GXC $80.17
52W range

ETF.net Grade

Pillar letters and Scores for FXI, GXC, with each pillar’s weight
Pillar	FXI	GXC
Cost30% weight	D31	A78Higher
Mission25% weight	B63	A85Higher
Risk15% weight	B68Higher	B67
Tradability15% weight	A96Higher	B69
Holdings10% weight	D38	A76Higher
Durability5% weight	A89Higher	A84

Rank among China funds

How we build Categories ›

Same Category. FXI 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 FXI 12th 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 10BJCHIJPMorgan Active China ETF Active China ETFScore 61
Rank 12BFXIiShares China Large-Cap ETFScore 57
Rank 13CCNXTVanEck ChiNext Innovators ETFScore 53

Our read on each fund

ETF.net Research

FXIBiShares China Large-Cap ETF

GXCAState Street SPDR S&P China ETF

In short

FXI The old-guard China trade: since 2004, FXI has held about 50 of the largest Chinese companies listed in Hong Kong, and it is built for heavy, fast trading more than for lowest-cost buy-and-hold.

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

FXI The fund seeks to track an index of large-capitalization Chinese equities traded on the Hong Kong 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

FXI One of the longest-running US-listed China funds, trading since 2004, with two decades of history through China's booms and busts.
Very actively traded, which is why it is a common vehicle for quick, sizable China positioning rather than a thinly traded niche listing.
Plain index mechanics: it tracks the FTSE China 50 Index closely, with no leverage or derivative overlays bolted on.ishares.com
Stands in the upper half of the roughly two dozen US-listed single-country China funds on our overall assessment.

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

FXI At 0.73% a year it sits slightly above the China-fund median, and cheaper index alternatives exist, including FLCH at 0.19% and MCHI at 0.59%.
Concentrated by design: about 50 names, all Hong Kong listings, so mainland-listed A-shares fall outside the mandate.ishares.com
A single-country equity fund tied to one market, and it distributes once or twice a year rather than monthly.

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 FXI profile⁠

Full GXC profile⁠

FXI vs GXC Holdings

How FXI and GXC differ

Overlap by weight

44.8%

Shared holdings make up 99.4% of FXI and 45.6% of GXC.

Level by level

Holdings49 in both44.8%
Sector11 Sectors74.5%
Countryby domicile99.2%
Asset classEquity100%

Sector

Sector weights in FXI and GXC, widest gap first
Sector	More in FXIMore in GXC	FXI	GXC
Financials	FXI +18.3 points	37.3%	19.0%
Industrials	GXC +6.9 points	2.7%	9.6%
Technology	GXC +5.7 points	6.3%	12.0%
Health Care	GXC +4.1 points	3.3%	7.4%
Consumer Discretionary	FXI +4.0 points	25.0%	21.0%
Materials	GXC +3.1 points	3.4%	6.5%
Consumer Staples	GXC +2.8 points	0.9%	3.7%
Energy	FXI +2.0 points	5.4%	3.4%
Utilities	GXC +1.7 points	0.4%	2.1%
Communication	FXI +1.2 points	14.5%	13.3%
Real Estate	GXC +1.0 points	1.0%	2.0%

Country, concentration and asset class

Country by domicile

Country weights in FXI and GXC, widest gap first
Country	More in FXIMore in GXC	FXI	GXC
United States	FXI +0.5 points	2.2%	1.7%
Other countries (7)	GXC +0.5 points	97.8%	98.3%

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

Concentration

Weight in the 10 largest Holdings

FXI58.3%
GXC32.9%

Securities held

FXI50
GXC1,533

Asset class

FXI: Equity
GXC: Equity

Holdings

Only in FXI1
In both49
Only in GXC1,484

Only in FXI

1 security, 0.1% of FXI by weight

Jiangsu Hengrui Pharmaceuticals Lt0.13%

Only in GXC

1,484 securities, 54.0% of GXC by weight

Pdd Holdings Inc1.91%
Wuxi Biologics Cayman Inc0.69%
Lenovo Group Ltd0.67%
Kweichow Moutai Co Ltd A0.63%
Yum China Holdings Inc0.52%
Innovent Biologics Inc0.50%
Contemporary Amperex Techn A0.45%
Ke Holdings Inc Adr0.39%
Ind & Comm Bk of China A0.35%
China Merchants Bank A0.35%
Agricultural Bank of China A0.35%
Geely Automobile Holdings Lt0.33%
Kuaishou Technology0.32%
Yangzijiang Shipbuilding0.31%
China Yangtze Power Co Ltd A0.29%
Cspc Pharmaceutical Group Lt0.28%
Zto Express Cayman Inc Adr0.27%
Foxconn Industrial Interne A0.26%
China Mengniu Dairy Co0.25%
Sitc International Holdings0.25%
Zhongji Innolight Co Ltd A0.25%
H World Group Ltd0.23%
Wuxi Apptec Co Ltd A0.23%
Akeso Inc0.23%
Li Auto Inc Class A0.22%
Zijin Mining Group Co Ltd A0.22%
Wh Group Ltd0.22%
New Oriental Education & Tec0.21%
Cambricon Technologies A0.21%
Xpeng Inc Class A Shares0.21%
Sino Biopharmaceutical0.21%
Petrochina Co Ltd A0.20%
Ping An Insurance Group Co A0.20%
Full Truck Alliance Spn Adr0.20%
Kanzhun Ltd Adr0.20%
China Overseas Land & Invest0.19%
Sunny Optical Tech0.19%
Genscript Biotech Corp0.19%
J+t Global Express Ltd0.19%
Byd Co Ltd A0.18%
Midea Group Co Ltd A0.18%
China Resources Power Holdin0.17%
Jd Health International Inc0.17%
Nio Inc Adr0.17%
Bank of China Ltd A0.17%
China Gold International Res0.17%
Aluminum Corp of China Ltd H0.16%
Industrial Bank Co Ltd A0.16%
China Tower Corp Ltd H0.16%
Luxshare Precision Industr A0.15%

Weight gaps

All 49 Holdings in both funds, largest gap first.

Holding weights in FXI and GXC, widest gap first
Holding	More in FXIMore in GXC	FXI	GXC
China Construction Bank Corp H	FXI +5.93 points	9.95%	4.02%
Industrial and Commercial Bank of	FXI +4.45 points	6.86%	2.41%
Xiaomi	FXI +3.20 points	4.96%	1.76%
Meituan	FXI +2.96 points	4.51%	1.55%
Bank of China Ltd H	FXI +2.77 points	4.77%	2.00%
Netease	FXI +2.54 points	3.76%	1.22%
Ping An Insurance (Group) Co of Ch	FXI +2.25 points	3.52%	1.27%
Byd H	FXI +1.95 points	2.97%	1.02%
Jd.com Class A	FXI +1.91 points	2.91%	1.00%
Petrochina H	FXI +1.82 points	2.66%	0.84%
China Merchants Bank H	FXI +1.76 points	2.44%	0.68%
Trip.com Group	FXI +1.49 points	2.21%	0.72%
China Life Insurance Ltd H	FXI +1.37 points	2.10%	0.73%
Beone Medicines AG	FXI +1.31 points	2.13%	0.82%
Zijin Mining Group Ltd H	FXI +1.28 points	1.96%	0.68%
Baidu	FXI +1.20 points	1.88%	0.68%
Agricultural Bank of China H	FXI +1.18 points	1.76%	0.58%
China Shenhua Energy Ltd H	FXI +1.12 points	1.70%	0.58%
Alibaba Group Holding	FXI +1.01 points	8.53%	7.52%
Picc Property and Casualty Ltd H	FXI +0.89 points	1.33%	0.44%
China Petroleum and Chemical H	FXI +0.88 points	1.29%	0.41%
Tencent Holdings	GXC +0.76 points	8.46%	9.22%
Anta Sports Products Ltd	FXI +0.71 points	1.08%	0.37%
Pop Mart International Group	FXI +0.71 points	1.08%	0.37%
Wuxi Apptec H	FXI +0.70 points	0.94%	0.24%
China Resources Land	FXI +0.68 points	1.04%	0.36%
Contemporary Amperex Technology Class	FXI +0.64 points	0.85%	0.21%
Nongfu Spring Ltd H	FXI +0.59 points	0.90%	0.31%
China Citic Bank Corp Ltd H	FXI +0.59 points	0.92%	0.33%
Midea Group Class H	FXI +0.57 points	0.70%	0.13%
China Hongqiao Group Ltd	FXI +0.54 points	0.77%	0.23%
China Pacific Insurance (Group) H	FXI +0.54 points	0.80%	0.26%
Postal Savings Bank of China Ltd H	FXI +0.52 points	0.68%	0.16%
Bank of Communications Ltd H	FXI +0.44 points	0.74%	0.30%
Citic Ltd	FXI +0.42 points	0.72%	0.30%
Guotai Haitong Securities Co Ltd H	FXI +0.38 points	0.47%	0.09%
The Peoples Insurance Co (Group)	FXI +0.36 points	0.52%	0.16%
Haier Smart Home Class H Ltd H	FXI +0.35 points	0.54%	0.19%
China Molybdenum H	FXI +0.36 points	0.53%	0.17%
Hua Hong Grace Semiconductor Ltd	FXI +0.33 points	0.51%	0.18%
Cosco Shipping Holdings Ltd H	FXI +0.32 points	0.49%	0.17%
Yangtze Optical Fibre and Cable Jo	FXI +0.32 points	0.45%	0.13%
Weichai Power Ltd H	FXI +0.30 points	0.54%	0.24%
New China Life Insurance Company L	FXI +0.29 points	0.45%	0.16%
Cgn Power Ltd H	FXI +0.24 points	0.43%	0.19%
Citic Securities Company H	FXI +0.19 points	0.31%	0.12%
Gigadevice Semiconductor Inc Class	FXI +0.10 points	0.12%	0.02%
Montage Technology Class H	FXI +0.09 points	0.10%	<0.01%
China Everbright Bank Ltd H	FXI +0.08 points	0.10%	0.02%

All 50 FXI 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.

FXI vs GXC Cost

Overpaying FXI vs GXC

$2,498

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

FXI 0.73%
$14,133
GXC 0.59%
$11,635

Amount$10,000

Years30 years

Cost over time

FXI 0.73%
GXC 0.59%
Overpaying

Year by year

Year	FXI	GXC	Overpaying
10	$1,302	$1,058	$244
20	$4,952	$4,051	$901
30	$14,133	$11,635	$2,498

Expense ratio

0.73%FXI
0.59%GXC, cheaper

GXC0.59%FXI0.73%

0.19%5.01%

Middle half of China funds
Median 0.65%

GXC 5th cheapest of 28 funds

FXI 20th cheapest of 28 funds

FXI vs GXC Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FXI 2.05%; GXC 2.46%, better
Payout (12M): FXI $0.68; GXC $1.99
Last payment: FXI $0.26; GXC $0.67
Ex-dividend: FXI Jun 15, 2026; GXC Jun 22, 2026
Paid on: FXI Jun 18, 2026; GXC Jun 26, 2026
Frequency: FXI Twice a year; GXC Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

FXITwice a year · 19 paymentsAll FXI payments⁠

GXCTwice a year · 19 paymentsAll GXC payments⁠

FXI vs GXC Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: FXI 21.5%GXC 20.7%, better
Return per unit of riskSharpe ratio, 3 years: FXI 0.42, betterGXC 0.27
Worst fallMax drawdown, 5 years: FXI −48.9%GXC −46.5%, better
Market sensitivityBeta, 5 years: FXI 0.47GXC 0.69; Market = 1

FXI and GXC in the news

All news⁠

Price vs Value
Both the bid and the ask on PGIM's October Max Buffer ETF sat below the NAV
Oct 25, 2026FXI
Deep Dive
Korea's 3.9% drop split two kinds of emerging-markets fund
Sep 20, 2026FXI
News
U.S. expected to delay a contemplated 7.5% China excess-capacity tariff until after Xi summit
Sep 17, 2026FXI
News
House votes 262-159 to send Trump 100% tariff power on all goods from Russian energy buyers
Sep 17, 2026FXI
News
PBOC's Pan says slower loan growth is China's new normal, not a miss to reverse
Sep 16, 2026FXI
News
Beijing ends Trip.com's hotel exclusivity as international revenue grows more than 50%
Sep 15, 2026FXI

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FXI vs GXC

In short

Stated mandate

Why people hold it