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Analyse/db x-trackers FTSE China 25

Wer in diesen chinesischen Indexfonds investiert, setzt zu einem großen Teil auf den Bankensektor. Das hohe Konzentrationsrisiko wird durch eine Indexerweiterung indes ab September 2014 relativiert.

Rolle im Portfolio

The db x-trackers FTSE China 25 offers exposure to many of the largest and most liquid Chinese equities available to international investors. Given its concentrated portfolio, this ETF is best suited as a satellite holding for investors looking for China mega-cap exposures.

From a sector perspective the FTSE China 25 Index is heavily tilted towards the financial sector which represents 54% of the index’s value as of end-February 2014. At the individual security level, the index’s top 10 holdings account for 63% of its value.

Looking from a portfolio construction perspective, this ETF could offer some degree of diversification benefit for international investors, as evidenced by the historical correlations between the FTSE China 25 Index and other global equity indices. Over the past three years, the FTSE China 25 Index has been more correlated to emerging markets in Asia (correlated 89% to the MSCI EM Asia Index) than developed markets (correlated 74% to the MSCI World Index, 75% to the MSCI EAFE Index and 66% to the S&P 500 Index). Meanwhile, during this same span it only had a correlation of 58% to the MSCI China A Index, which tracks the domestic Chinese equity markets. Over the same time period, the FTSE China 25 Index has had a standard deviation of 24%. This is higher than the MSCI World Index (14%), the MSCI EM Asia Index (19%) and the MSCI China A Index (22%).

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Über den Autor

Morningstar ETF Analysts  research hundreds of ETFs available to European investors. The Morningstar Rating for ETFs is based on a risk-adjusted performance measure

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