Performance data is updated to 31 May 2026.
iShares FTSE China Large-Cap ETF (IZZ) — Review & Analysis
IZZ tracks the FTSE China 50 Index — the 50 largest and most liquid Chinese companies listed on the Hong Kong Stock Exchange. AUM is $482.19 million as at May 2026 with a 0.60% p.a. management fee. Compare IZZ against the full China and Asia cohort on our Asia ETF page or use the Compare ETFs tool to put it side-by-side with CETF or CNEW.
The competitive picture is where IZZ shows its trade-offs. CETF (VanEck FTSE China A50, 0.60%) tracks the 50 largest mainland-listed A-shares — a completely different exposure, since A-shares trade in Shanghai/Shenzhen and are skewed toward state-owned enterprises, banks and consumer names. CNEW (VanEck China New Economy, 0.95%) screens for tech, health care and consumer growth companies — a more thematic tilt. IZZ delivered a −8.3% one-year return to May 2026 despite holding household names like Tencent, Alibaba and Meituan — a reminder that Hong Kong-listed Chinese equities have been the toughest part of the Asia trade.
Structurally, IZZ is concentrated and HK-domiciled. The fund's top 10 holdings make up the bulk of the portfolio, and the FTSE China 50 has historically been one of the more volatile single-country indices on the ASX. Compared with broader Asia exposures like IAA (iShares Asia 50, 0.50%) or VAE (Vanguard Asia ex-Japan, 0.40%), IZZ is the purist China play — high beta to Chinese policy and sentiment, with no diversification across Korea, Taiwan or India.
For investors wanting concentrated China exposure as a satellite, IZZ is the cheapest pure-play among the established options. Read our Asia, China & Emerging Markets ETF guide for the full comparison framework.
Performance (% return)
Investment Focus
Themes
Exposure Regions
Portfolio Breakdown
| Symbol | Company Name | % assets |
|---|---|---|
| 939 | CHINA CONSTRUCTION BANK CORP H | 8.54% |
| 9988 | ALIBABA GROUP HOLDING LTD | 8.33% |
| 700 | TENCENT HOLDINGS LTD | 7.58% |
| 1398 | INDUSTRIAL AND COMMERCIAL BANK OF | 6.17% |
| 1810 | XIAOMI CORP | 5.27% |
| 3690 | MEITUAN | 4.54% |
| 2318 | PING AN INSURANCE (GROUP) CO OF CH | 4.11% |
| 3988 | BANK OF CHINA LTD H | 4.11% |
| 9999 | NETEASE INC | 3.81% |
| 1211 | BYD LTD H | 3.62% |
| Sector | % assets |
|---|---|
| Financials | 31.13% |
| Consumer Discretionary | 27.75% |
| Communication | 18.74% |
| Information Technology | 6.9% |
| Energy | 4.36% |
| Materials | 4.3% |
| Health Care | 2.31% |
| Industrials | 1.78% |
| Real Estate | 0.91% |
| Consumer Staples | 0.9% |
| Cash and/or Derivatives | 0.58% |
| Utilities | 0.34% |
Related Reads
Best Asia, China & Emerging Markets ETFs Australia 2026: The Complete Guide
No fund manager wrote this article. No issuer is paying for placement. This is an independent ranking of every Asia, China, Japan, India and emerging markets ETF listed on the ASX, using April 2026 CBOE Australia data.
Emerging Markets ETFs on the ASX: How to Access India, China, Asia, and the World's Fastest-Growing Economies
There are 29 ETFs on the ASX covering emerging markets, Asia, China, India, Japan, and Korea — with a combined $11.3 billion in assets under management. These funds give Australian investors access to economies that represent roughly 80% of the world's population and the lion's share of global GDP growth over the next two decades.
Similar ETFs
| Stock | Name | 1 Year % |
|---|---|---|
| CNEW | VanEck China New Economy ETF | +16.28% |
| DRGN | Global X China Tech ETF | +40.99% |
| CETF | VanEck FTSE China A50 ETF | +16.34% |
| ASAO | abrdn Sustainable Asian Opportunities Active ETF | +41.20% |
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Last updated: January 2026
