GXC vs NBCE

GXCAState Street SPDR S&P China ETF

NBCECNeuberger Berman China Equity ETF

In short

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.

NBCE A stock-picker's China fund: roughly 70 names spanning mainland A-shares, Hong Kong listings and ADRs, filtered through Neuberger Berman's own ESG ratings and measured against the MSCI China All Shares Index.

Stated mandate

GXC The fund seeks to provide returns that generally correspond to the total return performance of the S&P China BMI Index.

NBCE The Fund seeks long-term capital growth and normally invests at least 80% of net assets in equity investments economically tied to China, primarily China A-shares, Chinese securities listed in Hong Kong, and ADRs.

Why people hold it

• 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.

• NBCE Reaches across the whole China market: mainland A-shares plus Hong Kong listings and ADRs, so onshore domestic names sit alongside the offshore giants many China ETFs stop at.
• Roughly 70 holdings, not hundreds. A concentrated book where individual picks carry real weight, rather than a thin slice of a sprawling benchmark.
• Runs an in-house screen: Neuberger Berman's own ESG ratings methodology shapes the universe instead of buying the index whole.
• The portfolio stays on-mandate, with at least 80% of net assets in equities economically tied to China, as the prospectus spells out.

Worth knowing

• 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.

• NBCE Cost is the headline trade-off: an expense ratio just above 5%, next to 0.19% for FLCH and 0.59% for MCHI on the same shelf.
• Small and thinly traded next to the big China trackers, which tends to mean wider spreads and more attention needed on how you place an order.
• One country, one policy regime. Chinese regulation, currency and mainland access rules drive the ride, and the fund has only been trading since 2023.

Full GXC profile⁠

Full NBCE profile⁠