China ETF in U.S. Loses Most Money as Mainland Brokers Buy
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The biggest Chinese exchange-traded fund in the U.S. is losing money faster than any other country-focused ETF, even as the lowest valuations since 2008 convince brokerages in the Asian nation that it’s time to buy.
Investors pulled a net $961.2 million from the iShares FTSE China 25 Index Fund this year, the most among 140 single-country ETFs that trade on U.S. markets, according to data compiled by New York-based research firm XTF Inc. The outflows coincided with a decline in the Shanghai Composite Index’s price-earnings ratio using estimates for the next year to 11.6, a valuation last seen during the financial crisis in November 2008.