ECNS

ECNS is a pure play on Chinese small-caps, holding hundreds of market-cap-weighted small- and micro-cap companies. The fund holds shares traded in Hong Kong, B-shares traded in Shanghai or Shenzhen and N-Shares traded in New York. Notably, the fund excludes A-shares. Hence, the fund's exposure skews away from that of an "all-share" benchmark. Also, ECNS does not replicate the index but uses a representative sampling methodology instead. The index is reviewed quarterly and rebalanced semi-annually.