This article was originally published on ETFTrends.com.
The Global X MSCI China Communication Services ETF (CHIC) , which is part of Global X's broader suite of China sector exchange traded funds (ETFs), is now trading on the New York Stock Exchange (NYSE).
CHIC, which debuted last December, follows the MSCI China Communication Services 10/50 Index. In China, the communication services sector is the third-largest sector weight in broader equity benchmarks. May 3 is CHIC's first day on the NYSE.
“The fund will join the rest of Global X's China sector suite, which all currently trade on the NYSE Arca. The suite includes a full offering that corresponds with each of the eleven major economic sectors identified by the Global Industry Classification Standard (GICS),” according to a statement from New York-based Global X.
CHIC, which has $27.31 million in assets under management, is up almost 20% year-to-date.
CHIC ETF Details
“The MSCI China Communications Services ETF tracks the MSCI China Communication Services 10/50 Index, which is designed to capture the large- and mid-capitalization segments of securities included in the MSCI China Index that are classified in the Communication Services Sector as per the Global Industry Classification Standard,” according to Global X. “It incorporates all eligible securities as per MSCI's Global Investable Market Index Methodology, including China A, B and H shares, Red chips, P chips and foreign listings. The index is maintained by MSCI.”
Six of Global X's China ETFs that debuted last December, including the Global X MSCI China Health Care ETF (CHIH), Global X MSCI China Information Technology ETF (CHIK) and the Global X MSCI China Large-Cap 50 ETF (CHIL) , trade on the NYSE.
CHIC charges 0.65% per year, or $65 on a $10,000 investment.
For more information on the Chinese markets, visit our China category.
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