KWEB vs MCHI: Holdings Overlap
KWEBKraneShares CSI China Internet ETF
KraneShares · 31 holdings · $5.7B · as of 2026-03-31
iShares · 580 holdings · $6.3B · as of 2026-05-31
Holdings snapshots are 61 days apart (KWEB: 2026-03-31, MCHI: 2026-05-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are KWEB and MCHI?
KraneShares CSI China Internet ETF (KWEB, by KraneShares) holds 31 positions; iShares MSCI China ETF (MCHI, by iShares) holds 580. They have 21 holdings in common, and by portfolio weight the two funds are 31.1% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 31.1%Sum of the smaller weight of each shared holding
- Shared Holdings
- 21KWEB holds 31 · MCHI holds 580
- Weight in Shared Holdings
- KWEB 88%·MCHI 35%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in KWEB
10 of 31 positions (11.9% of the fund) are not held by MCHI.
Only in MCHI
559 of 580 positions (64.1% of the fund) are not held by KWEB. Showing the top 30 by weight.
Sector Breakdown
| Sector | KWEB | MCHI |
|---|---|---|
| Consumer Discretionary | 39.5% | 21.1% |
| Communication Services | 29.3% | 17.2% |
| Financials | 0.0% | 14.8% |
| Information Technology | 0.0% | 7.8% |
| Real Estate | 4.3% | 1.2% |
| Other Sectors | 7.6% | 8.9% |
| Unclassified | 19.2% | 28.5% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (19% of KWEB, 29% of MCHI).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| KWEB | +12.3% | -15.8% | -15.2% | +2.0% | -6.7% | +0.1% | 7.31% |
| MCHI | +9.3% | -5.2% | -1.0% | +8.7% | -2.2% | +4.3% | 1.94% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in KWEB vs MCHI →
Shared Holdings(21)
The top 10 shared positions account for 95% of the overlap, led by 700, 9988 and PDD.
 700Tencent Holdings Ltd. | 10.09% | 13.21% | 10.09% |
|---|---|---|---|
 9988Alibaba Group Holding Ltd | 8.93% | 10.14% | 8.93% |
 PDDPDD Holdings Inc. SPONSORED ADS | 8.78% | 2.28% | 2.28% |
 3690Meituan, B Shares | 7.36% | 1.84% | 1.84% |
 9999NetEase Inc | 5.91% | 1.63% | 1.63% |
 9888Baidu, Inc., A Shares | 4.28% | 1.44% | 1.44% |
 9618JD.com Inc | 4.91% | 1.31% | 1.31% |
 9961Trip.com Group Ltd | 3.56% | 1.11% | 1.11% |
 1024Kuaishou Technology | 3.33% | 0.57% | 0.57% |
 2423KE Holdings Inc | 4.34% | 0.42% | 0.42% |
 6618JD Health International Inc | 4.01% | 0.21% | 0.21% |
 TMETencent Music Entertainment Group SPON ADS | 2.50% | 0.20% | 0.20% |
 BZKanzhun Ltd | 2.86% | 0.19% | 0.19% |
 VIPSVipshop Holdings Ltd | 2.70% | 0.17% | 0.17% |
 9626Bilibili Inc., Z Shares | 3.17% | 0.17% | 0.17% |
 TALTAL Education Group | 3.24% | 0.15% | 0.15% |
 3888Kingsoft Corp. Ltd. | 1.82% | 0.11% | 0.11% |
 241Alibaba Health Information Technology Ltd | 2.23% | 0.10% | 0.10% |
 780Tongcheng Travel Holdings Ltd | 1.90% | 0.09% | 0.09% |
 9899NetEase Cloud Music Inc | 1.06% | 0.05% | 0.05% |
 C2XChina Literature Ltd. | 0.98% | 0.05% | 0.05% |
Frequently Asked Questions
How much do KWEB and MCHI overlap?
KWEB and MCHI overlap by 31.1% of portfolio weight. They share 21 holdings (KWEB holds 31 positions and MCHI holds 580), based on each fund's latest SEC-reported holdings.
Is it redundant to own both KWEB and MCHI?
The two portfolios are 31.1% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of KWEB and MCHI?
The largest positions held by both funds are 700, 9988, PDD, 3690 and 9999. Together the top 10 shared positions account for 95% of the total overlap.
What does KWEB own that MCHI doesn't?
10 positions (11.9% of KWEB) are unique to KWEB, led by YMM, 2400 and 1797. In the other direction, 559 positions (64.1% of MCHI) are unique to MCHI.