# iShares China Large Cap UCITS ETF USD (FXC)

**Page:** https://fundology.uk/fund/fxc · ISIN IE00B02KXK85

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, FXC (iShares China Large Cap UCITS ETF USD, ISIN IE00B02KXK85) closed at £71.90 on the London Stock Exchange. Its ongoing charge is 0.74% a year (about £74 on £10,000). Over the five years to 13/11/2026 its total return was −2.7%, or −24.0% after UK CPIH inflation.

## Summary

iShares China Large Cap UCITS ETF USD is an exchange-traded fund (ETF) from iShares, launched in 2004. It tracks the FTSE China 50 Net Tax USD Index. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.74% a year — about £74 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year.

Latest close: **£71.90** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | FXC |
| ISIN | IE00B02KXK85 |
| Also listed as | IDFX (London Stock Exchange, US dollars), IQQC (Xetra, euros) |
| Category | Emerging markets |
| Type | ETF |
| Provider | iShares |
| Tracks | FTSE China 50 Net Tax USD Index |
| Income | Distributing |
| Ongoing charge | 0.74% a year (£74 per £10,000) |
| Fund size | £590m |
| Launched | 2004 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 12/06/2010 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | -15.20% | -18.20% | income reinvested |
| 3 years | +32.05% | +19.31% | income reinvested |
| 5 years | -2.67% | -24.03% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of iShares China Large Cap UCITS ETF USD in pounds (price only, income paid out not included): 2022 −13.1%, 2023 −20.1%, 2024 +29.2%, 2025 +21.1%; 2026 to 13/11/2026 −15.0%. Returns of iShares China Large Cap UCITS ETF USD in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −16.9%; to 30/09/2025: +30.4%; to 30/09/2024: +10.0%; to 30/09/2023: −6.7%; to 30/09/2022: −17.9%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -13.1% | -20.5% | Price |
| 2023 | -20.1% | -23.3% | Price |
| 2024 | +29.2% | +24.8% | Price |
| 2025 | +21.1% | +17.0% | Price |
| 2026 to 13/11/2026 | -15.0% | -17.7% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 18.63% | -21.72% |
| 3 years | 24.18% | -21.72% |
| 5 years | 27.04% | -44.15% |

## Largest fall

Volatility of iShares China Large Cap UCITS ETF USD in pounds, annualised from weekly returns to 13/11/2026: 18.6% over 1 year, 24.2% over 3 years, 27.0% over 5 years. Largest fall in the price of iShares China Large Cap UCITS ETF USD since November 2021, in pounds: −42.9% from 19/11/2021 to 19/01/2024. The lowest 12-month return of iShares China Large Cap UCITS ETF USD in pounds (price only, income paid out not included) since January 2021 was −37.9% (12 months to 28/10/2022); the highest was +56.3% (12 months to 07/03/2025). On 13/11/2026 the price of iShares China Large Cap UCITS ETF USD was 18.2% below its highest weekly close since November 2021 (14/11/2025), in pounds.

## Charges compared with similar funds

Ongoing charge of iShares China Large Cap UCITS ETF USD 0.74% a year. Compared on 14/11/2026, 13 of the 151 other emerging-market share funds charge more, 5 the same and 133 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.74%** per year
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 06/11/2026, FXC holds 50 positions, according to its published holdings. The largest is China Construction Bank at 9.66% of the fund; the ten largest make up 59.1%.

### Top holdings

Largest positions (as of 06/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | China Construction Bank | [601939](https://fundology.uk/stock/601939) | 9.66% |
| 2 | Tencent | [700](https://fundology.uk/stock/700) | 8.76% |
| 3 | Alibaba Group | [BABA](https://fundology.uk/stock/BABA) | 8.73% |
| 4 | Industrial and Commercial Bank of China | [601398](https://fundology.uk/stock/601398) | 6.54% |
| 5 | Xiaomi | [1810](https://fundology.uk/stock/1810) | 5.38% |
| 6 | Meituan | [3690](https://fundology.uk/stock/3690) | 4.79% |
| 7 | Bank of China | [601988](https://fundology.uk/stock/601988) | 4.50% |
| 8 | NetEase | [NTES](https://fundology.uk/stock/NTES) | 4.04% |
| 9 | Ping An Insurance (Group) Co of Ch | — | 3.56% |
| 10 | JD.com · Class A | [JD](https://fundology.uk/stock/JD) | 3.11% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By sector

As published for the fund, as of 06/11/2026.

| Sector | Weight |
|---|---|
| Financials | 36.4% |
| Consumer Discretionary | 25.4% |
| Communication Services | 14.6% |
| Information Technology | 6.5% |
| Energy | 5.2% |
| Health Care | 3.3% |
| Materials | 3.1% |
| Industrials | 2.5% |
| Other sectors | 2.8% |

### By type of asset

Added up from the fund’s published holdings, as of 06/11/2026.

| Type of asset | Weight |
|---|---|
| Equity | 99.5% |
| Cash and money market | 0.5% |

All 51 holdings: https://fundology.uk/fund/fxc/holdings

## Questions people ask

**What is the ongoing charge of FXC?**

The ongoing charge of FXC is 0.74% a year — about £74 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of iShares China Large Cap UCITS ETF USD 0.74% a year. Compared on 14/11/2026, 13 of the 151 other emerging-market share funds charge more, 5 the same and 133 less (share classes counted once).

**What does FXC track?**

FXC tracks the FTSE China 50 Net Tax USD Index.

**Is FXC accumulating or distributing?**

FXC is distributing: income is paid out to holders as cash, usually a few times a year. It pays out quarterly.

**What is the ISIN of FXC?**

The ISIN of FXC is IE00B02KXK85. An ISIN identifies one exact share class of a fund; FXC is its ticker on the London Stock Exchange. The same share class is also listed as IDFX (London Stock Exchange, US dollars) and IQQC (Xetra, euros).

**What does FXC hold?**

As of 06/11/2026, FXC holds 50 positions, according to its published holdings. The largest is China Construction Bank at 9.66% of the fund; the ten largest make up 59.1%. Its ten largest holdings are China Construction Bank (9.66%), Tencent (8.76%), Alibaba Group (8.73%), Industrial and Commercial Bank of China (6.54%), Xiaomi (5.38%), Meituan (4.79%), Bank of China (4.50%), NetEase (4.04%), Ping An Insurance (Group) Co of Ch (3.56%) and JD.com · Class A (3.11%).

**What were FXC’s returns in each of the last five years?**

Calendar-year returns of FXC in pounds (price only, income paid out not included): 2022 −13.1%, 2023 −20.1%, 2024 +29.2%, 2025 +21.1%; 2026 to 13/11/2026 −15.0%. Past performance is not a guide to future returns.

**How has FXC done after inflation?**

Over the five years to 13/11/2026 FXC’s total return was −2.7%, or −24.0% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at iShares](https://www.ishares.com/uk/individual/en/products/251798/ishares-china-large-cap-ucits-etf)
- [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-china-large-cap-ucits-etf-usd-dist-gb-ie00b02kxk85-en.pdf)
- [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/fxc-ishares-china-large-cap-ucits-etf-fund-fact-sheet-en-gb.pdf)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.