Q: Pat, what is your opinion of the WisdomTree China ex-State-Owned Enterprises Fund? With Omicron flare-ups in China, the price has come down. Thanks.
A: WisdomTree China ex-State-Owned Enterprises Fund, $38.77, symbol CXSE on New York (Units outstanding: 20.4 million; Market cap: $791.9 million; www.wisdomtree.com), aims to track the investment results of Chinese companies that are not state-owned enterprises.
This has some appeal for casual dabblers in the Chinese stock market. Numerous studies have shown that partly or fully government owned Chinese companies routinely under-perform privately-owned Chinese companies. The ETF defines state-owned Chinese companies as having government interest above 20%.
Although the Chinese government owns 20% or less of shares in these firms, virtually all Chinese firms are directly influenced by government decision-making. For that matter, China has few if any real controls on what obligations or burdens government can decree for the operation of companies within its boundaries.
WisdomTree China ex-State-Owned Enterprises Fund started up in September 2012. Its MER is 0.32%.
The ETF’s holdings can be broken down by industry segment: Consumer Discretionary, 31.3%; Communication Services, 18.4%; Information Technology, 11.1%; Healthcare, 10.6%; Industrials, 8.5%; Financials, 6.9%;…
Privacy Policy and Terms of Use
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
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