SPDR S&P China ETF (SSGQ)
XHAM 
Summary
SSGQ Chart
GXC: Deflation And Unemployment Spiral Risks For China
The State Street SPDR S&P China ETF (GXC) faces significant macro risk due to consumption and macro sensitive sector exposures dominating the allocation. China's property deleveraging and related economic transition are still important considerations and part of the government mandate, limiting discretion for the growth mandate. While GXC offers a compelling 9% earnings yield and growing, the market usually demands a premium earnings yield for China and the equities are still exposed to growth risks.
GXC: China Stocks Still A Solid Play, Low-Teen P/E, Strong Chart
GXC (SPDR S&P China ETF) remains a buy, supported by improving profit expectations and solid year-to-date outperformance versus the S&P 500. The ETF trades at a modest sub-14x P/E, with large-cap, consumer discretionary, and communication services exposures dominating the portfolio. Liquidity is mixed—low average daily volume and wide bid/ask spreads necessitate limit orders, especially near market open.
GXC: Chinese Stocks Are Volatile - Still Trending Higher With A Low P/E
Both U.S. and Chinese stocks rallied due to a de-escalation in the trade war, boosting the S&P 500 and Hang Seng Indexes. I reiterate a 'Buy' rating on the SPDR S&P China ETF due to its attractive valuation and strong dividend yield. GXC has high exposure to large caps and a balanced mix of value, blend, and growth, despite a concentrated allocation in consumer discretionary and communication services.
SPDR S&P China ETF (SSGQ) FAQ
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SPDR S&P China ETF Profile
| XHAM Exchange | US Country |
Overview
The provided company is a financial investment entity focused on the Chinese market. It primarily allocates its resources into securities that form part of a specific index, which is composed of publicly traded companies based in China that are accessible to international investors. This index is constructed based on market capitalization, aiming to provide a comprehensive snapshot of investable Chinese companies. Notably, the fund operates with a non-diversified strategy, meaning it invests a significant portion of its assets in a relatively small number of securities, making it somewhat more exposed to the risks and performances of those securities.
Products and Services
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Securities Investment - The fund commits at least 80% of its total assets to securities that are included in the index it tracks. These securities are made up of a collection of publicly traded companies domiciled in China, providing foreign investors with a targeted investment opportunity in the Chinese market. This service aims to mirror the performance of the index, offering investors a chance to participate in the potential growth of China’s publicly traded companies.
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Depositary Receipts Investment - In addition to direct securities investment, the fund also invests in depositary receipts that are based on the securities in the index. Depositary receipts represent a certain number of shares of a foreign company's stock and are traded on a local stock exchange. This method provides a more accessible avenue for investors to partake in foreign markets like China, potentially offering a diversified investment option within the fund's focused scope.
