FXI vs. PGJ
Compare and contrast key facts about iShares China Large-Cap ETF (FXI) and Invesco Golden Dragon China ETF (PGJ).
FXI and PGJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FXI is a passively managed fund by iShares that tracks the performance of the FTSE China 25 Index. It was launched on Oct 5, 2004. PGJ is a passively managed fund by Invesco that tracks the performance of the Halter USX China Index. It was launched on Dec 9, 2004. Both FXI and PGJ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FXI vs. PGJ - Performance Comparison
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FXI vs. PGJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXI iShares China Large-Cap ETF | -7.13% | 28.95% | 28.98% | -12.42% | -20.66% | -20.06% | 8.92% | 14.90% | -13.28% | 36.26% |
PGJ Invesco Golden Dragon China ETF | -9.88% | 13.66% | 5.91% | -2.38% | -24.50% | -42.87% | 54.24% | 32.18% | -29.51% | 60.27% |
Returns By Period
In the year-to-date period, FXI achieves a -7.13% return, which is significantly higher than PGJ's -9.88% return. Over the past 10 years, FXI has outperformed PGJ with an annualized return of 3.03%, while PGJ has yielded a comparatively lower 0.23% annualized return.
FXI
- 1D
- -0.95%
- 1M
- -3.63%
- YTD
- -7.13%
- 6M
- -13.13%
- 1Y
- 1.94%
- 3Y*
- 9.04%
- 5Y*
- -3.44%
- 10Y*
- 3.03%
PGJ
- 1D
- 0.44%
- 1M
- -5.61%
- YTD
- -9.88%
- 6M
- -22.40%
- 1Y
- -10.26%
- 3Y*
- -0.87%
- 5Y*
- -14.84%
- 10Y*
- 0.23%
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FXI vs. PGJ - Expense Ratio Comparison
FXI has a 0.74% expense ratio, which is higher than PGJ's 0.70% expense ratio.
Return for Risk
FXI vs. PGJ — Risk / Return Rank
FXI
PGJ
FXI vs. PGJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares China Large-Cap ETF (FXI) and Invesco Golden Dragon China ETF (PGJ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| FXI | PGJ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.08 | -0.38 | +0.46 |
Sortino ratioReturn per unit of downside risk | 0.28 | -0.36 | +0.64 |
Omega ratioGain probability vs. loss probability | 1.04 | 0.96 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 0.10 | -0.38 | +0.48 |
Martin ratioReturn relative to average drawdown | 0.29 | -0.91 | +1.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FXI | PGJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.08 | -0.38 | +0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.11 | -0.34 | +0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.11 | 0.01 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.12 | +0.05 |
Correlation
The correlation between FXI and PGJ is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FXI vs. PGJ - Dividend Comparison
FXI's dividend yield for the trailing twelve months is around 2.60%, less than PGJ's 3.51% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXI iShares China Large-Cap ETF | 2.60% | 2.42% | 1.76% | 3.17% | 2.61% | 1.60% | 2.19% | 2.74% | 2.69% | 2.31% | 2.69% | 2.90% |
PGJ Invesco Golden Dragon China ETF | 3.51% | 3.38% | 4.70% | 2.50% | 0.84% | 0.00% | 0.30% | 0.17% | 0.31% | 2.05% | 1.94% | 0.37% |
Drawdowns
FXI vs. PGJ - Drawdown Comparison
The maximum FXI drawdown since its inception was -72.68%, smaller than the maximum PGJ drawdown of -78.37%. Use the drawdown chart below to compare losses from any high point for FXI and PGJ.
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Drawdown Indicators
| FXI | PGJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.68% | -78.37% | +5.69% |
Max Drawdown (1Y)Largest decline over 1 year | -16.74% | -25.69% | +8.95% |
Max Drawdown (5Y)Largest decline over 5 years | -55.14% | -72.28% | +17.14% |
Max Drawdown (10Y)Largest decline over 10 years | -60.81% | -78.37% | +17.56% |
Current DrawdownCurrent decline from peak | -26.87% | -65.65% | +38.78% |
Average DrawdownAverage peak-to-trough decline | -31.27% | -31.47% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.89% | 10.73% | -4.84% |
Volatility
FXI vs. PGJ - Volatility Comparison
The current volatility for iShares China Large-Cap ETF (FXI) is 6.74%, while Invesco Golden Dragon China ETF (PGJ) has a volatility of 7.25%. This indicates that FXI experiences smaller price fluctuations and is considered to be less risky than PGJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXI | PGJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.74% | 7.25% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 14.71% | 17.78% | -3.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.29% | 27.39% | -3.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.64% | 43.90% | -12.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.70% | 36.63% | -8.93% |