VanEck Blog & Insights

VanEck Vectors China New Economy ETF CNEW

Fund description: CNEW gives investors a portfolio of the most fundamentally sound companies in China having the best growth prospects in sectors making up ‘the New Economy’, namely technology, health care, consumer staples and consumer discretionary. CNEW aims to provide investment returns, before fees and other costs, which track the performance of the Index.

Index description: The CSI MarketGrader China New Economy Index aims to select the 120 companies in China with the best growth at a reasonable price (GARP) attributes, which are considered the best drivers of long-term capital appreciation. Companies are selected on the basis of the strength of 24 fundamental indicators across four factor categories: growth, value, profitability and cash flow.

Management style: Replication

 

  • Exchange

    ASX
  • ASX code

    CNEW
  • Bloomberg index code

    CSIN1086
  • Index provider

    China Securities Index Co, Ltd.
  • NAV1

    $6.61
  • Shares outstanding1

    3,800,000
  • Net assets1

    $25.1M
  • Number of holdings1

    120
  • Inception date2

    08-Nov-18
  • ASX commencement

    09-Nov-18
1As of the close of the previous trading day.
2The date the ETF was seeded prior to quotation on ASX.

as at 20-Mar-19

Fundamentals as at 28-Feb-19

  • Weighted avg. market cap
    (AUD)

    $8.5B
  • Price/earnings ratio
    (last 12 months)*

    20.7
  • Price/book ratio
    (last 12 months)*

    3.2
*A weighted harmonic average is used to calculate this metric. Price/Book Ratio is the price of a security divided by the book value per share of the security. Price/Earnings Ratio is the price of a security divided by the last twelve months earnings per share of the security.

Market capitalisation (%)
as at 28-Feb-19

  • Capitalisation ranges

    Weightings (%)
  • Large (>$5.0B)

    89.58
  • Mid ($1.0 - $5.0B)

    10.37
  • Small (<$1.0B)

    0.00
This breakdown represents what percentage of the Fund's assets represent large/mid/small-sized companies. The market capitalisation of an individual, publicly traded company is calculated by multiplying the company's security price by the total number of its shares outstanding.

3-year risk measures

  • Beta vs. CSI300 Index

    --
  • Correlation vs. CSI300 Index

    --
  • Volatility (standard deviation)

    --
  • Sharpe ratio

    --

Source: VanEck, FactSet.

Calculations based on US$ returns.

Beta is a measure of sensitivity to market movements. Correlation measures the extent of linear association between the Fund performance and the index performance. Volatility is the annualised standard deviation of the Fund's monthly returns. Sharpe ratio measures risk-adjusted return, and represents the Fund's return less the risk free rate divided by the standard deviation.

Sector weightings (%) as at 28-Feb-19

  • Sector

    Weightings (%)
  • Food, Beverage & Tobacco

    22.9
  • Pharmaceuticals, Biotechnology

    20.6
  • Consumer Durables & Apparel

    14.6
  • Technology Hardware & Equipment

    13.4
  • Software & Services

    5.2
  • Media & Entertainment

    4.6
  • Health Care Equipment & Services

    4.3
  • Capital Goods

    4.2
  • Automobiles & Components

    3.2
  • Household & Personal Products

    2.3
  • Materials

    1.7
  • Consumer Services

    0.8
  • Food & Staples Retailing

    0.8
  • Retailing

    0.7
  • Semiconductors & Semiconductor Equipment

    0.7
  • Other/Cash

    0.1
  • Total

    100.1

Portfolio composition (%)
as at 20-Mar-19

  • Asset classes

    % of Fund net assets
  • Stocks

    100.00
  • Bonds

    0.00
  • Other

    0.00
  • Cash

    0.00
  • Total

    100.00