Overview
Hong Kong equity market. AIA Group at 28% dominates. Financial hub with China policy risk. HKD-USD peg eliminates currency risk for USD investors. Proxy for China economic recovery with better institutional transparency.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| 1299 | AIA Group Ltd. | 28.4% |
| 388 | HKEX Ltd. | 14.8% |
| 1 | CK Hutchison Holdings | 8.4% |
| 2388 | BOC Hong Kong | 7.8% |
| 823 | Link REIT | 6.4% |
| 1038 | CK Infrastructure | 5.8% |
| 12 | Henderson Land | 4.4% |
| 16 | Sun Hung Kai Prop. | 4.2% |
| 2 | CLP Holdings | 3.8% |
| 3 | HK & China Gas | 3.4% |
Fund Details
Investment Thesis
Hong Kong's equity market is dominated by insurance, real estate, and infrastructure companies deriving revenues primarily from Greater China. AIA Group at roughly 28% makes EWH effectively a bet on Asian middle-class insurance demand across 18 markets. The HKD peg to the USD eliminates currency risk for USD-based investors while providing exposure to Hong Kong's position as the premier gateway between global capital markets and mainland Chinese business activity. HKEX's Stock Connect programs make Hong Kong essential for foreign investment access to China.
Who It's For
Investors who want Greater China economic activity exposure with currency stability from the HKD-USD peg and a more transparent regulatory framework than direct mainland China funds. EWH suits those wanting to participate in Asian financial sector growth through insurance and banking companies serving the expanding middle class. Also useful as a proxy for China economic recovery with marginally lower political risk than direct A-share or H-share exposure.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $17.42 | -- |
| 2017 | $22.18 | +27.3% |
| 2018 | $18.42 | -17.0% |
| 2019 | $22.82 | +23.9% |
| 2020 | $22.42 | -1.8% |
| 2021 | $20.42 | -8.9% |
| 2022 | $16.42 | -19.6% |
| 2023 | $18.42 | +12.2% |
| 2024 | $17.82 | -3.3% |
| 2025 | $19.64 | +10.2% |
| Year | Yield |
|---|---|
| 2016 | 3.42% |
| 2017 | 3.18% |
| 2018 | 3.52% |
| 2019 | 3.28% |
| 2020 | 3.02% |
| 2021 | 3.28% |
| 2022 | 3.82% |
| 2023 | 3.52% |
| 2024 | 3.28% |
| 2025 | 3.42% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $2.4B | -- |
| 2017 | $3.2B | +33.3% |
| 2018 | $2.4B | -25.0% |
| 2019 | $2.4B | 0.0% |
| 2020 | $2.0B | -16.7% |
| 2021 | $1.6B | -20.0% |
| 2022 | $1.2B | -25.0% |
| 2023 | $1.6B | +33.3% |
| 2024 | $1.6B | 0.0% |
| 2025 | $1.6B | 0.0% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
Related Country ETFs ETFs
Markets. Intelligence. Daily.
Full briefs on 251 ETFs, curated daily ETF news, and a free weekly deep-dive newsletter — all on ETFHub.
Get the Free Weekly Brief Explore the ETF Portal Official Fund Page →