Many stocks have done well after about April 17. Investors apparently thought stocks were fully valued but were persuaded to invest after favorable inflation numbers and good earnings especially from tech stocks. KWEB and FXI are participating in this trend.
There is some overlap in their holdings but KWEB is an “internet” etf. Morningstar classifies it as a large cap growth etf. PE is reported as 25.05. In the last 90 days it is up 27.71%.
FXI is a large cap value etf. PE is reported as 9.25. Its holdings include bank stocks. It is up 26.57%. Both have expense ratios near 0.7%. Most of their stocks are traded in Hong Kong.
I’d like to believe the market is telling us that the Chinese economy has bottomed and is recovering. We shall see. It seems strange that two Chinese etfs with different compositions are both in an up trend.