iShares China Large-Cap ETF (ASX:IZZ): China and Hong Kong Exposure From Tencent to the Big Banks

Sonal Goyal

20 October 2026 05:48 PM AEDT

iShares China Large-Cap ETF (ASX:IZZ): China and Hong Kong Exposure From Tencent to the Big Banks

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Key highlights

ASX:IZZ tracks the FTSE China 50 Net Total Return Index in Australian dollars.
China makes up 94.76% of the portfolio, with Hong Kong at 3.16% and the United States at 2.09%.
China Construction Bank (9.13%), Tencent (9.12%) and Alibaba (8.99%) are the largest holdings.

The iShares China Large-Cap ETF (ASX:IZZ) provides exposure to large companies listed in China and Hong Kong through a single ASX-quoted fund. It aims to track the performance of the FTSE China 50 Net Total Return Index (AUD).

About the Fund

IZZ was admitted to the ASX on 15 November 2007 and is classified in the Equity Greater China category. The fund is managed by BlackRock’s Australian arm and has about $448.82 million in assets. The management fee is 0.60%.

Country exposure

The largest country allocation is China at 94.76%, followed by Hong Kong at 3.16%. The remaining exposure is spread across the United States (2.09%).

Every holding is a company with a market value above $1 billion, and stocks make up 99.74% of the portfolio.

Portfolio holdings

The portfolio holds 60 companies, with top ten holdings making up 57.76% of the fund. The largest positions are China Construction Bank Corp Class H (9.13%), Tencent Holdings Ltd (9.12%), Alibaba Group Holding Ltd (8.99%), Industrial and Commercial Bank of China Ltd Class H (6.43%) and Xiaomi Corp Class B (4.53%).

Bank of China (4.53%), Meituan (4.32%), NetEase (3.93%), Ping An Insurance (3.58%) and BYD (3.15%) complete the top ten. Three large Chinese banks sit among the ten largest positions.

Understanding the exposure

The five largest positions add up to 38.20% of the fund, which shows how much of the exposure rests on a small number of names. The remaining 50 holdings share the other 42.24% of the portfolio, an average of about 0.84% each. Exposure is spread across 3 countries or regions, and the three largest allocations (China, Hong Kong and the United States) together account for 100.01% of the portfolio.

Fees, size and distributions

The most recent distribution was a final distribution of $0.447 per unit, with an ex-date of 1 July 2026 and payment on 13 July 2026, and the reported annual yield is 1.90%.

Fund structure and reporting

IZZ has an ISIN of AU000000IZZ0 and a head office at Level 12, 33 Alfred Street, Sydney. Recent ASX announcements from the fund include monthly applications, redemptions and units-on-issue notices, an updated Product Disclosure Statement on 24 September 2026 and the annual financial report for 30 June 2026.

Equity Greater China funds invest in the securities of companies listed in China, including Hong Kong and Taiwan, with securities from these markets typically accounting for at least 75% of the portfolio.

Units in IZZ are quoted on the ASX and can be bought and sold through a broker during trading hours, in the same way as shares, so the exposure described above is available without buying each holding separately. The fund follows a rules-based index, so its holdings and weightings are set by the index methodology and adjusted when the index is rebalanced.

FAQs

Q: How much of IZZ is invested in China?

A:94.76%.

Q: What is the management fee?

A:0.60%.

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