Displays share price activity. Volume = number of shares traded, Turnover = value of shares traded, VWAP = volume-weighted average price for the day, sourced from Morningstar.
Last (Price)
49.57
Change
▼ -0.22 (-0.44)
Bid / Ask
49.57 - 49.65
Volume
13,217
Turnover
656,787
Open
49.80
Day Range
49.49 - 49.93
VWAP
49.69
Prev Close
49.79
Last Trade
11/11 4:10pm
Fund profile
Displays who issues the fund, how it is structured and invests, its Morningstar category and benchmark, size, headline costs and dates, sourced from Morningstar. Fund size counts every class of the fund; ETF net assets is this listing alone.
The Fund seeks to achieve its objective by tracking the performance
of the FTSE China 50 Net TR Index (AUD).
Asset allocation · 30 SEP 2026
Displays how the fund is split between shares, bonds, cash and other assets, sourced from Morningstar.
US equity 2.23%Non-US equity 97.33%
Asset class
Net %
Long %
Short %
Equity
99.55
99.55
0.00
Bond
0.00
0.00
0.00
Cash
0.45
0.50
0.05
Other
0.00
0.00
0.00
Sector exposure
Displays the share of the fund held in each sector, sourced from Morningstar.
Cyclical 66.69%Sensitive 28.65%Defensive 4.65%
Financial Services
36.18%
Consumer Cyclical
26.20%
Communication Services
14.79%
Technology
6.59%
Energy
5.18%
Healthcare
3.34%
Basic Materials
3.28%
Industrials
2.09%
Real Estate
1.04%
Consumer Defensive
0.90%
Utilities
0.40%
Region exposure
Displays the share of the fund held in each region, sourced from Morningstar.
Developed markets 5.32%Emerging markets 94.68%
Asia Emerging
94.68%
Asia Developed
3.08%
North America
2.24%
Latin America
0.00%
United Kingdom
0.00%
Europe Developed
0.00%
Europe Emerging
0.00%
Africa / Middle East
0.00%
Japan
0.00%
Australasia
0.00%
Country exposure
Displays the twelve countries the fund holds most of, sourced from Morningstar.
China
94.68%
Hong Kong
3.08%
United States
2.24%
Style box
Displays where the fund's shareholdings sit on Morningstar's style box: size (large, mid, small) down and investment style (value, blend, growth) across, sourced from Morningstar.
LargeMidSmallValueBlendGrowth
Style
Large Value
Average moat
Narrow
Size score
368
SmallMidLarge
Value-growth score
65
ValueBlendGrowth
Economic moat
None 41%Narrow 40%Wide 19%
Market capitalisation
Displays the share of the fund's shareholdings in giant, large, mid, small and micro cap companies, sourced from Morningstar.
Giant
83.40%
Large
14.36%
Mid
2.24%
Small
0.00%
Micro
0.00%
Giant 83%Large 14%Mid 2%
Average market cap
$187.61B
Number of holdings
56
Shares held
50
Portfolio statistics · 5 NOV 2026
Displays the valuation, yield, size, concentration and quality of the fund's shareholdings taken together (trailing twelve months), sourced from Morningstar.
Price / earnings
9.64
Price / book
1.10
Price / sales
1.21
Price / cash flow
5.83
Dividend yield
2.94%
Assets in top 10
58.99%
Return on equity
13.61%
Net margin
21.91%
Earnings growth (3 yr)
16.89%
Top holdings · top 10 = 58.31% of assets
Displays the fund's ten largest holdings and their weight in the portfolio, sourced from Morningstar.
Holding
% Weight
First bought
Market value
Currency
Units held
Sector
Country
China Construction Bank Corp Class H 00939
9.95
FEB 2026
43.0M
HKD
23.1M
Financial Services
China
Alibaba Group Holding Ltd Ordinary Shares 09988
8.54
FEB 2026
36.9M
HKD
2.1M
Consumer Cyclical
China
Tencent Holdings Ltd 00700
8.47
FEB 2026
36.6M
HKD
526,200
Communication Services
China
Industrial And Commercial Bank Of China Ltd Class H 01398
6.87
FEB 2026
29.7M
HKD
20.7M
Financial Services
China
Xiaomi Corp Class B 01810
4.97
FEB 2026
21.5M
HKD
4.5M
Technology
China
Bank Of China Ltd Class H 03988
4.77
FEB 2026
20.6M
HKD
18.5M
Financial Services
China
Meituan Class B 03690
4.51
FEB 2026
19.5M
HKD
1.5M
Consumer Cyclical
China
NetEase Inc Ordinary Shares 09999
3.76
FEB 2026
16.3M
HKD
507,600
Communication Services
China
Ping An Insurance (Group) Co. of China Ltd Class H 02318
3.52
FEB 2026
15.2M
HKD
1.7M
Financial Services
China
BYD Co Ltd Class H 01211
2.96
FEB 2026
12.8M
HKD
1.0M
Consumer Cyclical
Hong Kong
Trailing returns · 31 OCT 2026
Displays total returns after fees at net asset value, the return at the ASX market price, the return before fees, and where the fund ranks among funds in its Morningstar category, sourced from Morningstar.
Fund (NAV)Market price
1M
-4.0
3M
-9.3
6M
-8.6
YTD
-13.8
1Y
-15.4
3Y
11.5
5Y
-1.9
10Y
1.1
Period
Fund (NAV) %
Market price %
Before fees %
Rank in category
1 month
-3.95
-3.31
-3.91
20 / 6
3 months
-9.34
-8.97
-9.20
1 / 6
6 months
-8.59
-9.23
-8.32
60 / 6
Year to date
-13.79
-13.13
-13.36
60 / 6
1 year
-15.39
-15.86
-14.88
60 / 6
3 years p.a.
11.53
11.90
12.28
1 / 5
5 years p.a.
-1.86
-1.91
-1.17
25 / 5
10 years p.a.
1.05
1.07
1.78
100 / 4
Returns to 31 OCT 2026, periods of 3 years and longer annualised. Rank is the percentile in the Morningstar category at 30 SEP 2026 (1 = best) over the funds ranked.
Calendar year returns
Displays the total return after fees and the capital (price) return for each calendar year, with the fund's rank in its Morningstar category, sourced from Morningstar.
TotalCapital
2016
4.1
2017
22.6
2018
-3.2
2019
13.2
2020
-0.6
2021
-15.2
2022
-16.6
2023
-10.8
2024
43.0
2025
20.2
Year
Total %
Capital %
Rank in category
2025
20.21
16.86
1 / 5
2024
42.98
37.23
1 / 8
2023
-10.81
-14.41
63 / 9
2022
-16.59
-16.69
17 / 11
2021
-15.21
-16.39
100 / 6
2020
-0.60
-3.10
80 / 6
2019
13.17
10.82
100 / 6
2018
-3.19
-5.17
25 / 5
2017
22.61
21.63
100 / 5
2016
4.12
-0.41
50 / 4
2015
0.58
-3.69
100 / 4
Financial year returns
Displays the total return after fees for each financial year to 30 June, sourced from Morningstar.
FY17
16.4
FY18
16.6
FY19
6.0
FY20
-3.3
FY21
8.7
FY22
-19.0
FY23
-15.3
FY24
-1.8
FY25
46.5
FY26
-16.6
Financial year
Total %
Financial year to date
2.65
Year to 30 JUN 2026
-16.58
Year to 30 JUN 2025
46.55
Year to 30 JUN 2024
-1.85
Year to 30 JUN 2023
-15.27
Year to 30 JUN 2022
-18.98
Year to 30 JUN 2021
8.68
Year to 30 JUN 2020
-3.26
Year to 30 JUN 2019
6.02
Year to 30 JUN 2018
16.57
Year to 30 JUN 2017
16.43
Risk statistics · 31 OCT 2026
Displays how the fund has moved relative to its category index: alpha (return beyond the index), beta (sensitivity to it), R-squared (how much the index explains), volatility and risk-adjusted returns, sourced from Morningstar.
1 year
3 years
5 years
10 years
Alpha
-26.34
-9.22
-7.79
-7.72
Beta
0.04
0.88
1.18
1.10
R-squared
0.13
39.68
68.97
67.59
Standard deviation
22.16
22.96
29.93
24.54
Sharpe ratio
-1.43
0.24
-0.01
0.09
Sortino ratio
-1.75
0.29
-0.23
-0.03
Tracking error
24.28
17.27
15.70
12.43
Information ratio
-1.09
-0.81
-0.54
-0.65
Upside capture %
-109.05
43.15
80.67
78.93
Downside capture %
-6.87
51.87
113.15
114.28
Maximum drawdown %
-25.29
-25.29
-38.58
-47.54
Measured against MSCI Golden Dragon NR USD with RBA Bank accepted Bills 90 Days as the risk-free rate, to 31 OCT 2026. Maximum drawdown is on gross returns at the latest quarter end.
Portfolio risk score
Displays Morningstar's Portfolio Risk Score for the fund's holdings, how closely the ETF tracks its index day to day, the estimated cost of holding it against the index, the cost of trading it at market size, and its best and worst quarters since inception, sourced from Morningstar.
Risk score
110.2
Cash 0
Global shares 100
Morningstar Portfolio Risk Score at 30 SEP 2026.
Tracking volatility
0.290
Est. holding cost %
0.651
Market impact cost %
0.164
Fees and costs
Displays the fund's ongoing costs as a percentage of assets per year: the PDS management fees and costs, performance fee and transaction costs that make up the total cost ratio (the RG 97 forward estimate, and what was charged last financial year), and the buy / sell spread, sourced from Morningstar.
Management fees and costs
0.60% p.a.
Performance fee costs
0.00% p.a.
Transaction costs
0.22% p.a.
Total cost ratio
0.60% p.a.
Total cost ratio (last FY)
0.74% p.a.
Performance fee
Not Disclosed
PDS dated
5 NOV 2026
Distributions
Displays the most recent distribution paid per unit and its key dates, sourced from Morningstar.
Latest distribution
0.4479
Ex Date
1 JUL 2026
Record Date
2 JUL 2026
Pay Date
13 JUL 2026
NAV at ex date
45.27
Paid this year
0.4479
Distributions by year
Displays the total distributions paid per unit in each calendar year, sourced from Morningstar.
2024
1.1
2023
2.3
2022
0.4
2021
0.7
2020
0.7
2019
1.2
2018
2.0
2017
0.8
2016
1.4
2015
1.3
Year
Per unit ($)
2024
1.1053
2023
2.2856
2022
0.4182
2021
0.7376
2020
0.6564
2019
1.2063
2018
1.9964
2017
0.8210
2016
1.3909
2015
1.2815
Distribution history
Displays the most recent distributions by ex date, sourced from Morningstar.
Ex Date
Per unit ($)
1 JUL 2026
0.4479
29 DEC 2025
0.4714
1 JUL 2025
0.6339
27 DEC 2024
1.4557
1 JUL 2024
0.0982
2 JAN 2024
0.7318
3 JUL 2023
0.4182
21 DEC 2022
0.5518
1 JUL 2022
0.1858
21 DEC 2021
0.4918
1 JUL 2021
0.1645
22 DEC 2020
0.7564
Sustainability rating · 31 AUG 2026
Displays the Morningstar Sustainability Rating (1 to 5 globes, more is better) and the portfolio ESG risk score behind it (lower is less risk), against the average of the fund's global category, sourced from Morningstar and Sustainalytics.
Above Average
ESG risk score
23.05
NegligibleLowMediumHighSevere
Rank in category
17th percentile
Environmental risk
5.19
Social risk
9.23
Governance risk
8.44
Portfolio covered
100.0%
ESG risk of holdings
Displays the share of the covered portfolio held in companies with negligible, low, medium, high and severe ESG risk, sourced from Morningstar and Sustainalytics.
Negligible
0.00%
Low
38.00%
Medium
50.81%
High
4.76%
Severe
6.44%
4.51% of assets are in companies with high or severe controversies.
Carbon · 31 AUG 2026
Displays the portfolio carbon risk score (lower is less exposure to the transition to a low-carbon economy), the share of the portfolio in companies with fossil fuel revenue, and whether the fund earns Morningstar's Low Carbon Designation, sourced from Morningstar and Sustainalytics.
Carbon risk score
9.91
LowMediumHighSevere
Category average 9.35
Carbon risk
Low Risk
Rank in category
75th percentile of 7 funds
Fossil fuel involvement
5.66%
Category average
2.64%
Low Carbon Designation
Yes
Portfolio covered
100.0%
Fund managers
Displays the people Morningstar lists as managers of the fund, sourced from Morningstar.
JKJane Kim
Tenure
Displays how long the managers have run the fund: the average and longest tenure, who has served longest, the latest appointment and how many other funds the team manages, sourced from Morningstar.
Number of managers
1
Average tenure
3.6 years
Longest tenure
3.6 years
Longest serving
Jane Kim · since 1 APR 2023
Most recent appointment
Jane Kim · since 1 APR 2023
Managed since
1 APR 2023
Other funds managed
42
Displays all company announcements released by the company to the exchange, sourced from Morningstar.
The IZZ ETF provides investors with exposure to 50 of the largest companies listed in Hong Kong, tracking the FTSE China 50 Index, with holdings concentrated in China's leading financial, technology, consumer and internet companies such as Tencent, Alibaba, Xiaomi, China Construction Bank and Meituan. The ETF has advanced almost +16% so far in July, driven by a combination of China tech/chip enthusiasm in the first half of the month and a rotation into consumer, EV, and dividend names in the second half, underpinned by policy support signals from Beijing.
China has enjoyed relatively cheap oil from Iran over recent years, but this “embargoed” source of energy now appears off the table at least for the foreseeable future - part of the bigger picture for President Trump, in our opinion. Signs are emerging that the conflict is disrupting crude flows to key buyers, with top importer China moving to conserve fuel.
The Chinese market is arguably one of the best-valued, even after substantial gains over the last eighteen months. Chinese stocks look positioned for another “buy the dip” opportunity as we continue to target new multi-year highs into Christmas. In hindsight, we took profit too soon in May, but that doesn’t mean we won't buy back in at higher prices, i.e. it's all about profit and risk/reward, not e
With no Antarctica we’ve focused on the worlds second largest economy although it was a coin toss with rapidly expanding India. The IZZ ETF offers the convenience of trading on the ASX, with an annual cost of 0.6%, as it aims to track the FTSE China 50 Index.
As touched on in recent reports, we can see China as the big winner from Trump's tariffs; this is our favourite regional exposure over the coming months, helped by the “Beijing Put.”
We can see China being a winner from Trump's tariffs; this is our favourite regional exposure over the coming months as the US causes jitters across the globe.
Hedge funds have been piling into Chinese equities at the fastest pace in months as bullishness on the DeepSeek-driven technology rally adds to hopes for more economic stimulus.
We are bullish on Chinese equities, especially from a relative valuation perspective. After consolidating their stellar gains when the significant stimulus was unleashed on the Chinese economy and equity market in September, we believe they have commenced another leg higher.
Chinese consumers shattered records for travel and movie attendance during the Lunar New Year holiday, a splurge that has yet to translate into a turnaround for the consumer economy.
MM is bullish towards Chinese equities through 2025
Business Summary
The fund aims to provide investors with the performance of the FTSE China 50 Index, before fees and expenses. The index is designed to measure the performance of 50 of the largest and most liquid Chinese companies which trade on the Hong Kong Stock Exchange. The ETF is listed on the ASX under code IVV
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