Important risk disclosure

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HK0000956778
iShares Hong Kong Equity Index Fund

Equities
Hong Kong
HKD Cash
Accumulating

Invest with

HKD Cash

Payout type

Accumulating

Risk rating

About this fund

Description

The Fund seeks to provide investment results that, before fees and expenses, closely track the performance of the FTSE MPF Hong Kong Index (HKD unhedged total return).

Key information

Annual report

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Key fact sheet

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Prospectus

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Our perspective

Why we think this fund is best-in-class

Product

The Fund, formerly the BlackRock World Hong Kong Equity Index Fund, was renamed the iShares Hong Kong Equity Index Fund in December 2017. It primarily invests in Mandatory Provident Fund (MPF) approved Hong Kong equities, including large and mid-cap companies as well as eligible Hong Kong-listed Chinese securities, with individual market exposure limits in line with MPF authority requirements. Provides investors with passive and low cost exposure to the FTSE MPF Hong Kong Index. Hong Kong investors benefit from the Fund’s tax efficiency due to its Hong Kong domicile and the FTSE benchmark applies a favorable withholding tax treatment.

People

Part of BlackRock’s iShares suite, a recognized platform with over USD 5 trillion in assets under management within their ETF franchise. iShares has over 25 years of track record, replicating more than 1,600 indexes across Equity and Fixed Income.

Performance

The Fund aims to closely track the FTSE MPF Hong Kong Index, with a low expense ratio that supports cost-effective index replication. Since its inception in 2013, the Fund has delivered a risk profile closely aligned with its benchmark. The tracking error may be slightly higher than that of other index funds, as the Fund has non-dealing dates that may fall on days when the Hong Kong market is open due to operational requirements. Any resulting impact is typically offset in subsequent months.

Process

The Fund holds over 300 MPF-approved Hong Kong equities that closely resemble the benchmark and is constructed to maintain similar risk characteristics. The portfolio manager evaluates security-level risk factors such as volatility and market capitalization to assess the trade-off between holding a security and the cost of acquiring it. Employs a representative sampling strategy or a replication strategy to replicate the Index’s return by investing in all or a representative subset of the Index constituents in proportion to their weightings.

Cost

Access to clean retail share class with no trailer fees to achieve the lowest possible fees.

How it fits in a portfolio

Investors seeking passive and cost-effective exposure to MPF-approved Hong Kong equities may consider the Fund as a satellite holding within their equity allocation, given its diversified exposure across large and mid-cap Hong Kong-listed companies. Investors should remain mindful that the Fund is an equity strategy and will likely experience periods of heightened volatility and drawdowns. Investors should note the Fund’s focus on Hong Kong, which may expose them to specific country-related risks, and may wish to consider additional regional diversification.

Invest in this fund

Performance

Returns

NAV

Shows the total return of this accumulating fund, which includes dividends reinvested.

Total returns

Cumulative

Annualised

All Time

74.63%

YTD

6.42%

1 month

6.42%

6 month

13.99%

1 year

45.11%

As of Jan 2026

Distributions

This is an accumulating fund, so dividends are re-invested at the fund level.

Risk metrics

Max drawdown

-10.18%As of Jan 2026

Volatility

20.85%As of Jan 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	6.4%	-	-	-	-	-	-	-	-	-	-	-
2025	37.7%	1.0%	12.6%	1.7%	-3.4%	5.5%	4.3%	4.6%	2.7%	8.6%	-3.8%	-0.5%	0.3%
2024	19.4%	-10.0%	7.3%	0.3%	6.8%	2.4%	-2.2%	-0.9%	2.7%	20.8%	-5.0%	-3.7%	2.5%
2023	-	-	-	-	-	-	-	-	-	-	-	0.0%	-0.2%

Top Exposures

Holdings

Regions

Sectors

Alibaba Group Holding Ltd Ordinary Shares	9.98%
HSBC Holdings PLC	9.46%
Tencent Holdings Ltd	8.57%
AIA Group Ltd	4.05%
China Construction Bank Corp Class H	2.95%
Xiaomi Corp Class B	2.61%
Meituan Class B	2.21%
Industrial And Commercial Bank Of China Ltd Class H	2.21%
Hong Kong Exchanges and Clearing Ltd	2.16%
Ping An Insurance (Group) Co. of China Ltd Class H	2.01%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

0.20% p.a.

Fund facts

ISIN

HK0000956778

Fund house

BlackRock

Fund benchmark

FTSE MPF Hong Kong PR HKD

Fund inception date

15 Nov 2023

Fund class currency

HKD

Fund share class

D2 HKD Acc

Oldest share class ISIN

HK0000157567

Oldest share inception date

01 Aug 2013

Pricing frequency

Daily

Warning statements

All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
Past performance is not indicative of future performance.
Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

Opinions Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this material are subject to market influences and contingent upon matters outside the control of Endowus HK Limited (“Endowus”) and therefore may not be realised in the future. Further, any opinion or estimate is made on a general basis and subject to change without notice. In presenting the information above, none of Endowus HK Limited, its affiliates, directors, employees, representatives or agents have given any consideration to, nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Therefore, no representation is made as to the completeness and adequacy of the information to make an informed decision. You should carefully consider (i) whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances. You may also wish to seek financial advice through a financial advisor or the Endowus platform and independent legal, accounting, regulatory or tax advice, as appropriate.

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Product Risk Rating Please note that any product risk rating (the “PRR”) provided by us is an internal rating assigned based on our product risk assessment model, and is for your reference only. The PRR is subject to change from time to time. The PRR does not take into account your individual circumstances, objectives or needs and should not be regarded as advice or recommendation to purchase, hold or sell any fund or make any other investment decisions. Accordingly, you should not solely rely on the PRR in making your investment decision in the relevant Fund.

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Disclaimer:

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HK0000956778iShares Hong Kong Equity Index Fund

HK0000956778
iShares Hong Kong Equity Index Fund