CLOSED 05/29/2019
State Street Global Advisors (SSGA) begun trading the SPDR MSCI China A Shares IMI ETF (NYSE Arca: XINA) on Thursday, October 29, 2015. Here is a synopsis of the new ETF:
FUND INFORMATION:
| Symbol: XINA | Exchange: NYSE Arca |
| Name: SPDR MSCI China A Shares IMI ETF | Net Expense Ratio: 0.65% |
FUND OBJECTIVE:
The SPDR MSCI China A Shares IMI ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI China A International IMI Index.
REFERENCE INDEX:
The MSCI China A International IMI Index is a free-float adjusted, market capitalization weighted index (giving greater weight to larger companies, based on the value of securities available in the market) designed to capture large, mid and small cap representation across Chinese securities with A Share listings on the Shanghai or Shenzhen Stock Exchanges. The Index is comprised solely of A Shares and aims to capture approximately 99% of the investible Chinese domestic A Shares equity universe.
To be eligible for the Index, a security and its issuing company must meet certain size and capitalization requirements. In particular:
(i) a company must have a full market capitalization within the range of the top 99% of the developed market equity universe, based on free-float adjusted market capitalization (for emerging market companies, the required full market capitalization is set at one half the corresponding level for developed market companies) and
(ii) a security must have a free-float adjusted market capitalization equal to or greater than 50% of the smallest company identified above.
In addition, the securities must meet the following liquidity requirements:
(i) a three-month and twelve-month Annualized Traded Value Ratio of at least 15% and
(ii) a three-month frequency of trading of at least 80%.
“ST” and “*ST” securities, which are shares of companies that have received delisting warning from the Shanghai or Shenzhen Stock Exchanges due to abnormal financial conditions, are not eligible for Index inclusion. The Index is reviewed quarterly and rebalanced quarterly.
As of October 16, 2015, the Index was comprised of 1,795 securities.
Index Top Consituents (09/30/15):
| China Merchants Bank A | 1.44% |
| Ping An Insurance A | 1.27% |
| Shanghai Pudong Dev Bk A | 1.22% |
| Crrc Corp A | 1.17% |
| Industrial Bank A | 1.09% |
| Bank Of China A | 1.02% |
| China Minsheng Bank A | 0.98% |
| Bank Of Communications A | 0.94% |
| Kweichow Moutai A | 0.94% |
| Agri Bank Of China A | 0.93% |
Index Top Sectors Weight (09/30/15):
| Financials | 24.94% |
| Industrials | 22.98% |
| Consumer Discretionary | 12.93% |
| Materials | 11.04% |
| Information Technology | 7.59% |
| Health Care | 6.10% |
| Consumer Staples | 5.99% |
| Utilities | 4.61% |
| Energy | 3.16% |
| Telecommunication Services | 0.66% |
Useful Links:
XINA Home Page
Category: Equities> Regions> Asia> Emerging Asia Equities> China