GXC — State Street SPDR S&P China ETF

GXC Price Performance — Growth of $10,000

Value of a $10,000 investment in GXC over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

GXC Drawdown

The "underwater" chart: GXC's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The State Street SPDR S&P China ETF (GXC) is an emerging market single-country fund issued by State Street Investment Management with $474 million in assets. It holds an ETFValuer grade of F, ranking 18th out of 22 peers in its category and 444th of 458 tracked ETFs overall. The fund charges an expense ratio of 0.59%, which matches the category median, while offering a dividend yield of 2.18% against a median of 2.24%. Top holdings constitute 30.7% of assets, with Tencent Holdings Ltd representing the largest single position at 9.9%.

The fund’s recent performance shows a divergence between short-term declines and long-term gains, with a one-year return of -6.99% contrasting sharply with a three-year return of +33.99%. This underperformance relative to the category median of +20.12% contributed to a downgrade from D to F on 2026-08-05. The current price of $89.70 sits at 21.2% of its 52-week range, indicating it is near the lower end of recent trading levels. Historical data is limited to 3.0 years, which constrains the depth of the performance record available for analysis.

With a beta of 0.58, the ETF has exhibited lower sensitivity to market movements compared to the broader market. However, a Sharpe ratio of -0.64 and a maximum drawdown of -25.54% suggest that risk-adjusted returns have been negative during the measured period. Annualized volatility of 18.61% is classified as moderate, yet liquidity remains a concern with an average daily volume of only 21,116 shares and a wide bid/ask spread of 6.67%.

AI-generated summary based on the data on this page.

GXC Top Holdings

Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 30.7% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how GXC's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With GXC

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with GXC's top 10 — MCHI overlaps most, holding 7 of the same companies as GXC's top 10 (26.0% of GXC's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.78% (as of 2026-09-04) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 15.30 (as of 2026-09-07) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

GXC Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 6.67% and average daily volume is 21K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $474M provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: GXC is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

GXC Performance History

How GXC Compares to Other Single Country - Emerging ETFs