This Chinese Small Cap ETF Just Hit New Lows

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January 19, 2017 7:05pm NYSE:CNXT

NYSE:CNXT | News, Ratings, and Charts

Investors looking for ETFs with negative momentum should begin to consider the Market Vectors China AMC SME-ChiNext ETF (CNXT). This product just hit a new 52-week low of $28.32 today, and is now down 26.02% from its 52-week high price of $35.69 per share.


Will this ETF continue its string of recent losses? Let’s take a closer look at the fund, its recent gains, the category it resides in, and its ratings and outlook to get a sense of whether its momentum is sustainable or not.

Inside CNXT’s Fall

As mentioned earlier, CNXT has now lost 26.02% from its 52-week high, which was hit back on April 15, 2016. The fund has now returned -3.18% over the past month, -13.15% over the past three months, and -16.65% in the past six months. Those returns compare to the benchmark S&P 500 index’s -0.22%, 6.20%, and 5.13% returns in the same periods, respectively. Clearly, CNXT has serious bearish momentum.

A Look Under The Hood

Market Vectors China AMC SME-ChiNext ETF is an Equity-focused product issued by Van Eck Associates. Its expense ratio of 0.78% makes it the #28 cheapest ETF among 32 total funds in the China Equities ETFs category.

CNXT currently boasts $23.35M in assets under management (AUM), placing it #15 of 32 ETFs in its category, and #1271 of 1920 total ETFs in the U.S. exchange traded universe. This is a small fund with low volume and low AUM, which makes it susceptible to big swings.

The investment objective of the Market Vectors ChinaAMC SME-ChiNext ETF to track the performance of the 100 largest and most liquid stocks listed and trading on the Small and Medium Enterprise Board and the ChiNext Board of the Shenzhen Stock Exchange. Such companies may include small- and medium-capitalization companies.

CNXT SMART Grade: More Gains Ahead?

CNXT currently has an ETF Daily News SMART Grade of C (Neutral), and is ranked #24 of 32 funds in the China Equities ETFs category.

A SMART Grade of C suggests a neutral risk/reward scenario, but its bearish momentum will likely lead to a downgrade in the near future.

For more information about this ETF, including full ratings, news, data, and more, please visit CNXT’s ticker page.

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