ETF in Focus: iShares China Large‑Cap ETF (IZZ)
CommSec
13 April 2026
IZZ is an ASX-listed ETF that gives investors exposure to 50 large Chinese companies trading in Hong Kong. It offers a more concentrated way to access that part of the market than a broad global ETF.
A way to invest in China
As your portfolio grows, you may be thinking about ways to diversify beyond Australia. One option some investors explore is adding exposure to fast‑growing global regions like China. Instead of picking individual offshore stocks, this focused ETF may provide access to some of China’s largest companies, all through the one fund on the Australian Securities Exchange (ASX).
What IZZ aims to do
IZZ is an ETF that trades on the ASX and holds shares in about 50 large Chinese companies listed in Hong Kong. This fund aims to follow the performance of the FTSE China 50 Index before fees and expenses. It does this by investing in 50 large and liquid Chinese companies listed in Hong Kong, giving the fund a more concentrated profile than a broader international ETF.1
Why customers consider IZZ
Targeted exposure to China's largest companies: Including tech, finance, telco, and consumer sectors.
China's markets behave differently to Australia's, offering diversification not just by geography but by growth drivers.
Diversification outside Australia: This could add global depth to an AU-heavy portfolio.
Low maintenance access: No offshore accounts needed, just one ASX trade.
Potential for higher growth (and higher volatility): China’s regulatory and economic cycles can create both rapid rises and sudden shifts.
China's policy decisions can influence entire sectors quickly, presenting both risks and opportunities.
Top holdings (as at 10 April 2026)2
- Alibaba Group Holding Ltd: 8.50%
- Tencent Holdings Ltd: 8.27%
- China Construction Bank Corp H: 7.96%
- Industrial and Commerical Bank of China: 6.00%
- Xiaomi Corp: 5.74%
- Meituan: 5.03%
Other key facts
- Fund size (FUM): $486 million3
- Management fee: 0.60%4
- Most recent dividend: $0.47 Dec 20255
- Dividend frequency: Semi-annually6
- Trailing dividend yield (last 12 months): $1.10537
- Benchmark: FTSE China 50 NR USD8
Key risks
- Market volatility: Chinese equities can be more volatile than developed markets, with prices often moving sharply over short periods.
- Currency fluctuations: As the underlying assets are denominated in foreign currencies, movements in the Australian dollar can impact returns.
- Regulatory changes: Government policy in China can change quickly and may significantly affect certain sectors or companies.
- Geopolitical tensions: Trade tensions or political developments between China and other countries can influence market performance and investor sentiment.
- Index concentration: The fund holds around 50 companies, with a large weighting to the biggest names, meaning performance can be driven by a small number of stocks.
In short, IZZ could offer investors access to a broad range of China's largest companies within one fund.
1 BlackRock IZZ iShares China Large-Cap ETF, BlackRock Australia website, accessed 13/4/26.
2 Ibid., accessed 13/4/26.
3 Ibid., accessed 13/4/26.
4 Ibid., accessed 13/4/26.
5 Ibid., accessed 13/4/26.
6 ASX IZZ iShares China Large-Cap ETF, ASX website, accessed 13/4/26.
7 CommSec IZZ iShares China Large-Cap ETF, CommSec website, accessed 13/4/2026.
8 ASX IZZ iShares China Large-Cap ETF, ASX website, accessed 13/4/26.
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