Update: db x-trackers MSCI China Index UCITS ETF

H-Shares, Red Chips, P Chips, B-Shares und N-Shares: Hinter dieser Buchstabensuppe verbergen sich die verschiedenen China-Aktiensegmente, die in MSCI China ETFs vertreten sind. Festlands-Aktien sind indes nicht vertreten. 

Rolle im Portfolio

This ETF is best suited as a core building block for a portfolio, offering exposure to the MSCI China Index, which is composed of the large and mid-cap mainland China companies across H-Shares, Red Chips and P Chips listed in Hong Kong and B-Shares listed in China (and N-Shares listed in New York from 30 November 2015), which are the major non-domestic Chinese securities available to non-domestics investors. For investors building a global portfolio, this ETF can also be used as a tactical tool to bet on non-domestic mainland China companies.

From a sector perspective, the MSCI China Index is fairly concentrated in the financial sector which represented 41% of the index’s value as of end-October 2015. From 30 November 2015, “foreign listed companies”, such as Alibaba and Baidu, will become eligible for potential inclusion into the MSCI China Index. Investors should assess the impact of this change on their respective sector and single stock exposures.

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 MSCI China Index and other global equity indices. Over the past three years, the MSCI China Index has been more correlated to emerging markets in Asia (correlated 90% to the MSCI EM Asia Index) than developed markets (correlated 54% to the MSCI World Index, 58% to the MSCI EAFE Index and 43% to the S&P 500 Index). During the same span it had a correlation of 70% to the MSCI China A Index, which tracks the domestic Chinese equity markets. Over the same time period, the MSCI China Index has had a standard deviation of 20%. This is higher than the MSCI World Index (11%) and the MSCI EM Asia Index (13%).

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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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