
With no changes to any of the iShares models this week, we look at the iShares China Large-cap ETF (FXI).
There are no changes to any of the iShares models this week. US equities currently sit atop the DALI asset class rankings, however, there are still notable areas of relative strength in non-US equities. A prime example is China, which currently ranks second out of all 134 groups in the Asset Class Group Scores. Those interested in adding exposure to Chinese equities may wish to consider the iShares China Large-cap ETF (FXI). FXI currently has a favorable 4.67 fund score, which is 0.13 points better than the average for all emerging market equity funds.
On its default chart, FXI has completed three consecutive buy signals. The fund reached a new multi-year high earlier this month when it broke a double top at $39.50 but remains in actionable territory on its 10-week trading band with a weekly overbought/oversold (OBOS) reading of 24%. FXI is currently trading around $38 and has found multiple levels of support in the $35 - $37 range over the last two months. Year-to-date (through 8/27) FXI has gained 25.6% on a price return basis; the fund also carries a 2.57% yield.