Global X MSCI China Materials ETF
CHIM
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- Global X MSCI China Materials ETF (CHIM) is an exchange-traded fund that seeks to provide investment results corresponding generally to the price and yield performance, before fees and expenses, of the MSCI China Materials 10/50 Index. Launched on January 12, 2010, and managed by Global X Management Company LLC, headquartered in New York, the fund targets large- and mid-capitalization segments of the MSCI China Index classified in the Materials sector under the Global Industry Classification System (GICS); it provides targeted exposure to China's materials industry, including chemicals, metals, mining, and construction materials, through holdings in China A, B, and H shares, Red chips, P chips, and foreign listings. The ETF primarily invests at least 80% of its total assets in securities comprising the underlying index or ADRs and GDRs based thereon, with recent sector allocations encompassing specialty chemicals (16.3%), other metals/minerals (13.2%), aluminum (10.7%), construction materials (10.0%), precious metals (8.4%), and steel (5.9%), among others. In a significant operational change, Global X Funds announced the liquidation of CHIM on January 19, 2024, with shares suspended from trading on the NYSE Arca prior to the open on February 20, 2024, and liquidation proceeds distributed to shareholders at $13.3848 per share on February 23, 2024. This followed an index methodology shift effective December 6, 2018, when the fund transitioned from tracking the Solactive China Materials Total Return Index to the MSCI China Materials 10/50 Index, expanding its investable universe. Prior to liquidation, the fund maintained net assets of approximately $2.54 million, a total expense ratio of 0.65%, semi-annual distributions, and exposure concentrated in two holdings as of the latest available data. The ETF operates within the broader Global X suite of China sector funds, catering to investors seeking sector-specific exposure to China's second-largest economy by GDP, though it is non-diversified and carries heightened risks from emerging markets, currency fluctuations, and single-country focus.