Xtrackers MSCI All China Equity ETF
Data updated: 2024-04-26
C000139220 — Xtrackers MSCI All China Equity ETF. Global (incl. US) Mid Cap Blend / Core Industrials Equity. Holdings, fees, performance and SEC filings.
C000139220 Fund Overview
Xtrackers MSCI All China Equity ETF is a US ETF managed by Dbx ETF Trust, categorised as Global (incl. US) Mid Cap Blend / Core Industrials Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Dbx ETF Trust
- Category: Global (incl. US) Mid Cap Blend / Core Industrials Equity
- Assets under management: $5.96M
- 1-year return: -16.1%
- SEC CIK: 0001503123
- SEC series ID: S000044834
- Share class ID: C000139220
C000139220 Investment Objective and Strategy
Xtrackers MSCI All China Equity ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Dbx ETF Trust.
Investment objective
The Xtrackers MSCI All China Equity ETF (the “Fund”) seeks investment results that correspond generally to the performance, before fees and expenses, of the MSCI China All Shares Index (the “Underlying Index”).
Principal investment strategy
The Fund, using a passive or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Underlying Index, which is designed to capture large- and mid-capitalization representation across all China securities listed in Hong Kong, Shanghai and Shenzhen. The Underlying Index includes A-Shares, H-Shares, B-Shares, Red chips and P chips share classes, as well as securities of Chinese companies listed outside of China (e.g. American depository receipts). The Adviser expects that, over time, the correlation between the Funds performance and that of the Underlying Index, before fees and expenses, will be 95% or better. A figure of 100% would indicate perfect correlation. A-Shares are equity securities issued by companies incorporated in mainland China and are denominated and traded in renminbi (RMB) on the Shenzhen and Shanghai Stock Exchanges.
Under current regulations in the Peoples Republic of China (China or the PRC), foreign investors can invest in the domestic PRC securities markets through certain market-access programs. These programs include the Qualified Foreign Institutional Investor (QFII) or a Renminbi Qualified Foreign Institutional Investor (RQFII) licenses obtained from the China Securities Regulatory Commission (CSRC). QFII and RQFII investors have also been granted a specific aggregate dollar amount of investment quota by Chinas State Administration of Foreign Exchange (SAFE) to invest foreign freely convertible currencies (in the case of a QFII) and RMB (in the case of an RQFII) in the PRC for the purpose of investing in the PRCs domestic securities markets. B-Shares are equity securities issued by companies incorporated in China and are denominated and traded in U.S.
dollars and Hong Kong dollars (HKD) on the Shanghai and Shenzhen Stock Exchanges, respectively. B-Shares are available to foreign investors. H-Shares are equity securities issued by companies incorporated in mainland China and are denominated and traded in HKD on the Hong Kong Stock Exchange and other foreign exchanges. Red chips and P chips are equity securities issued by companies incorporated outside of mainland China and listed on the Hong Kong Stock Exchange. Companies that issue Red chips generally base their businesses in mainland China and are controlled, either directly or indirectly, by the state, provincial or municipal governments of the PRC. Companies that issue P chips generally are nonstate-owned Chinese companies incorporated outside of mainland China that satisfy the following criteria: (i) the company is controlled by PRC individuals, (ii) the company derives more than 80% of its revenue from the PRC and (iii) the company allocates more than 60% of its assets in the PRC.
The Adviser expects to use a representative sampling indexing strategy to seek to track the Underlying Index. As such, the Adviser expects to invest in a representative sample of the component securities of the Underlying Index that collectively has an investment profile similar to the Underlying Index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability and yield), and liquidity measures similar to those of the Underlying Index. The Adviser expects to obtain exposure to the A-Share components of the Underlying Index indirectly by investing in the Xtrackers MSCI China A Inclusion Equity ETF (the Underlying Fund). The Adviser may also invest in Xtrackers Harvest CSI 300 China A-Shares ETF and Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (the Xtrackers Harvest ETFs, and together with the Underlying Fund, the Xtrackers China A-Shares ETFs) or other affiliated funds advised by the Adviser and sub-advised by Harvest Global Investments Limited (HGI), a licensed RQFII, that invests in A-Shares directly.
Currently, the Fund invests in the Underlying Fund. The Fund does not currently intend to invest in A-Shares directly. To obtain exposure to the balance of the Underlying Index, the Adviser intends to invest directly in the components of the Underlying Index. The Underlying Fund may invest in A-Shares and other permitted China securities listed on the Shanghai and Shenzhen Stock Exchanges through the Shanghai-Hong Kong Stock Connect program (Shanghai Connect) or the Shenzhen-Hong Kong Stock Connect program (Shenzhen Connect, and together with Shanghai Connect, Stock Connect). Stock Connect is a securities trading and clearing program between either the Shanghai Stock Exchange or Shenzhen Stock Exchange and The Stock Exchange of Hong Kong Limited (SEHK), China Securities Depository and Clearing Corporation Limited and Hong Kong Securities Clearing Company Limited.
Stock Connect is designed to permit mutual stock market access between mainland China and Hong Kong by allowing investors to trade and settle shares on each market via their local exchanges. Trading through Stock Connect is subject to a daily quota (Daily Quota), which limits the maximum net purchases on any particular day by Hong Kong investors (and foreign investors trading through Hong Kong) trading PRC listed securities and PRC investors trading Hong Kong listed securities trading through the relevant Stock Connect, and as such, buy orders for A-Shares would be rejected once the Daily Quota is exceeded (although a fund will be permitted to sell A-Shares regardless of the Daily Quota balance). The Daily Quota is not specific to any fund, but to all investors investing through the Stock Connect.
The Xtrackers Harvest ETFs, through their sub-adviser, may invest in A-Shares and other permitted China securities listed on the Shanghai and Shenzhen Stock Exchanges up to the specified quota amount granted to HGI. HGI may apply or file for an increase of the initial RQFII quota subject to certain conditions, including the use of all or substantially all of the initial quota. There is no guarantee that an application for additional quota will be granted or a filing for additional quota will not be revoked. The Xtrackers Harvest ETFs may also invest in A-Shares listed and traded on Stock Connect. The Underlying Fund invests directly in A-Shares through Stock Connect. Under Stock Connect, the Underlying Funds trading of eligible A-Shares listed on the SSE or the SZSE, as applicable, would be effectuated through the Adviser.
Additionally, the Xtrackers Harvest ETFs direct investments in A-Shares will be limited by the quota allocated to the RQFII, i.e., HGI, or QFII, and the Daily Quota applicable to Stock Connect. Investment companies are not currently within the types of entities that are eligible for an RQFII or QFII license. Because the Underlying Fund does not satisfy the criteria to qualify as an RQFII or QFII itself, the Underlying Fund intends to invest directly in A-Shares via Stock Connect and, in the future, may also utilize any quota applied for by and granted to the Adviser and/or a sub-adviser. The Fund will normally invest at least 80% of its total assets in securities of issuers that comprise either directly or indirectly the Underlying Index or securities with economic characteristics similar to those included in the Underlying Index.
While the Fund intends to invest primarily in H-Shares, B-Shares, Red chips, P chips, and shares of the Underlying Fund, the Fund also may invest in securities of issuers not included in the Underlying Index, the Xtrackers Harvest ETFs, futures contracts, swap contracts and other types of derivative instruments, and other pooled investment vehicles, including affiliated and/or foreign investment companies, that the Adviser believes will help the Fund to achieve its investment objective. The remainder of the Funds assets will be invested primarily in money market instruments and cash equivalents. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in the equity securities of Chinese companies or in derivative instruments and other securities that provide investment exposure to Chinese companies.
As of July 31, 2018, the Underlying Index consisted of 640 securities with an average market capitalization of approximately $4.01 billion and a minimum market capitalization of approximately $339 million. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to the extent that the Underlying Index is concentrated. As of July 31, 2018, a significant percentage of the Underlying Index was comprised of issuers in the information technology (28.3) and financial services (23.9%) sectors.
C000139220 Holdings
Top 10 holdings of Xtrackers MSCI All China Equity ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Xtrackers MSCI China A Inclusion Equity ETF | 46.24% |
| Tencent Holdings Ltd | 7.77% |
| Alibaba Group Holding Ltd | 5.03% |
| Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF | 3.78% |
| PDD Holdings Inc | 2.47% |
| China Construction Bank Corp | 1.99% |
| Meituan | 1.72% |
| NetEase Inc | 1.44% |
| Icbc | 1.11% |
| Bank of China Ltd | 1.04% |
C000139220 Portfolio Allocation
Asset-class allocation of Xtrackers MSCI All China Equity ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.3% |
| Cash & Equivalents | 0.3% |
C000139220 Performance
Total returns for C000139220 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -16.1% |
| 3 years (annualised) | -18.4% |
C000139220 Risk Information
Risk metrics for C000139220, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 21.1%
C000139220 Costs and Fees
C000139220 costs about $50 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.50%
- Gross expense ratio: 0.81%
- Portfolio turnover: 7%
- Brokerage commissions: 0.13 bps of average net assets (SEC N-CEN)
C000139220 Cashflows
Over the 12 months to 2024-02, Xtrackers MSCI All China Equity ETF had net inflows of $0, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-02 | $0 |
| 2024-01 | $0 |
| 2023-12 | $0 |
| 2023-11 | $0 |
| 2023-10 | $0 |
| 2023-09 | $0 |
C000139220 Debt Constituents
No individual debt constituents are reported in Xtrackers MSCI All China Equity ETF's latest SEC N-PORT filing.
C000139220 Prospectus and SEC Filings
Official Xtrackers MSCI All China Equity ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-09-27
- Prospectus (485BPOS) — filed 2022-09-27
- Prospectus (485BPOS) — filed 2021-09-27
- Portfolio holdings (N-PORT) — filed 2024-04-26
- Portfolio holdings (N-PORT) — filed 2024-01-25
- Portfolio holdings (N-PORT) — filed 2023-10-26
- Annual census (N-CEN) — filed 2023-08-14
- Annual census (N-CEN) — filed 2022-08-10
Related Funds
Other Global (incl. US) Mid Cap Blend / Core Industrials Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.