Investors looking to avoid underperformance should steer clear of iShares MSCI China A ETF (CNYA - Free Report) . The fund recently hit a new 52-week low. Shares of CNYA are down roughly 24% from its 52-week high of $35.68/share.
But is more pain in store for this ETF? Let’s take a quick look at the fund and the near-term outlook to get a better idea of where it might be headed.
CNYA in Focus
The fund is composed of domestic Chinese equities that trade on the Shanghai or Shenzhen Stock Exchange. The fund holds 244 stocks in total. Financials, Industrials, Consumer Staples and Consumer Discretionary are the top four sectors of the fund. The fund charges 65 bps in fees (see all Asia-Pacific (Emerging) ETFs here).
Why the move?
Trade war tensions between the United States and China led to this lackluster performance in the fund. Notably, the Shanghai Composite Index has plunged 20% from its peak in January, confirming a bear market.
More Losses Ahead?
The fund has a negative weighted alpha of 12.00. So, the outlook for this fund remains bleak.
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