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Hang Seng S&P 500 Index ETF

3195 / 9195

HKD Counter USD Counter

Hang Seng S&P 500 Index ETF (the “Fund”) offers both listed class of Units (“Listed Class Units”) and unlisted classes of Units (“Unlisted Class Units”). Switching between Unlisted Class Units and Listed Class Units is not available.

(Capitalised terms used herein but not otherwise defined will have the same meanings as defined in the Hong Kong Offering Document of the Hang Seng Investment Index Funds Series IV (the “Series”) and the relevant Appendix of the Fund)

Applicable to both Listed Class Units and Unlisted Class Units:

  • The Fund is an index-tracking fund which aims to match as closely as practicable, before fees and expenses, the USD denominated total return performance (net of withholding tax) of the S&P 500 Index (the “Index”).
  • The Fund is subject to investment risks, equity market risk, concentration risk, passive investment risks, tracking error risks, termination risks, reliance on the same group risk, risks associated with investment in financial derivative instruments, risk of investing in other collective investment schemes.
  • Investors of Listed Class Units and Unlisted Class Units are subject to different pricing and dealing arrangements and may be at an advantage or disadvantage depending on market conditions. The Net Asset Value per Unit of each of the Listed Class Units and Unlisted Class Units may be different due to different fees and cost arrangement applicable to the units.

Risks applicable to Listed Class Units only:

  • The Listed Class Units of the Fund is subject to trading risks, dual counter risks, trading differences risk, reliance on market maker risks, and currency risk.
  • The Manager may at its discretion pay dividend out of capital or effectively out of the capital^ of the Fund. Payment of dividends out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any such capital gains attributable to that original investment. Any such distributions may result in an immediate reduction in the Net Asset Value per Unit.

^The Manager may at its discretion pay distribution out of gross income while charging/paying all or part of the Fund’s fees and expenses to/out of the capital of the Fund (resulting in an increase in distributable income for the payment of distribution by the Fund), and thereby effectively pay distributions out of the capital of the Fund.

Risks applicable to Unlisted Class Units only:

  • The Unlisted Class Units of the Fund is subject to currency and exchange rate control risk and currency hedging risk.

Investments involve risks and investors may lose substantial part of their investment in the Fund. Investors should not only base on this material alone to make investment decisions, but should read the Fund’s offering documents (including the full text of the risk factors stated therein) in detail.

Hang Seng S&P 500 Index ETF
The only S&P 500 Index ETF
in Hong Kong
Fast pass to the US stock market:
Trade US stocks in Hong Kong time zone
Trade US stocks
in Hong Kong dollars

Why S&P 500 Index?

Most representative
US equity index
Quality
constituents selected
A Hard-to-beat Index
Over 65 years
track record
1. The most representative US stock market index
With the HIGHEST US market coverage ratio among major US equity indices1
Sector balance will be considered in the selection of the S&P 500 Index constituents,
which makes it a better representation of the overall US market compared with the other 2 major indices.
Assets tracking the index2
USD 11.4 Trillion
double the 3rd largest country’s GDP3
The only index adopted by
SEC for market risk control – Circuit Breaker4
2. Quality screening overlay
5 key criteria of constituents inclusion
Market capitalization
Market capitalization
US$15.8bn
or more
Earnings
Earnings
Sum of the past 4Qs’ earnings and the most recent Q’s earnings must be positive
Liquidity
Liquidity
Float adjusted
liquidity ratio
≥ 0.75
Public float
Public float
Investable
weight factor
≥ 0.1
Committee
Committee
Gatekeeper for stocks inclusion
The S&P 500 Index is not solely based on size, but employs quality screening criteria to identify high-quality US companies for inclusion as constituents.
3. Outperforming most US active funds
The S&P 500 Index outperformed 93% of US Active Funds5 in the past 20 years
4. Over 65 years time-proven track record
S&P 500 Index Return
Since Launch (Mar 1957 - Feb 2024)6
Annualized Returns6
1 Yr
3 Yr
5 Yr
S&P 500
Index
30.5%
11.9%
14.8%
Calendar Year Performance6
YTD
2023
2022
2021
2020
2019
S&P 500
Index
7.11%
26.3%
-18.1%
28.7%
18.4%
31.5%

Index information7

Index sector weightings

Index top 10 holdings

Company name
Sector
Index weighting
Microsoft Corp
Information technology
7.2%
Apple Inc
Information technology
6.2%
Nvidia Corp
Information technology
4.6%
Amazon.com Inc
Consumer discretionary
3.8%
Meta Platforms, Inc. Class A
Communication services
2.5%
Alphabet Inc A
Communication services
1.9%
Berkshire Hathaway B
Financials
1.7%
Alphabet Inc C
Communication services
1.6%
Eli Lilly & Co
Health care
1.4%
Broadcom Inc
Information technology
1.3%

Fund information

Key facts

Stock Code
HKD Counter: 3195
USD Counter: 9195
Listing Date
23 April 2024
Listing Exchange
The Stock Exchange of Hong Kong Limited
Investment Objective
The Fund is an index-tracking fund which aims to match as closely as practicable, before fees and expenses, the USD denominated total return performance (net of withholding tax) of the S&P 500 Index.
Base Currency
USD
Trading Currency
HKD, USD
Issue Price
~HKD7.8 (equivalent to USD1)
USD1
Lot Size
HKD Counter: 100 Units
USD Counter: 100 Units
ISIN Code
HKD Counter: HK0000998515
USD Counter: HK0000998507
Management Fee8
Up to 0.55% per annum in respect of the Listed Class only
Total Expense Ratio (TER)9
0.90% per annum

Underlying Index Information

Underlying Index
S&P 500 Index
Bloomberg Code
SPTR500N
Review Frequency
Quarterly
Rebalance Frequency
Quarterly
[1]

Source: Bloomberg, data as of 31 Dec 2023. No. of constituents in the S&P 500 Index, Nasdaq-100 Index and Dow Jones Industrial Average are 500, 100 and 30 respectively.

[2]

Source: S&P Dow Jones Indices LLC. Data as of 31 Dec 2023.

[3]

Source: Organisation for Economic Cooperation and Development (OECD). Data as of 31 Dec 2023. Third largest country in terms of GDP.

[4]

US Securities Exchange Commission, as of 1 Jun 2012. A cross-market trading halt can be triggered at three circuit breaker thresholds-7% (Level 1), 13% (Level 2), and 20% (Level 3). These triggers are set off by the markets at point levels that are calculated daily based on the prior day’s closing price of the S&P 500 Index.

[5]

Sources: S&P Dow Jones Indices LLC, CRSP(The Center for Research in Security Prices). Data as of 30 Jun 2023. Peer Group is classified according to the following SPIVA Fund Category Definition: US Equity Funds (All Large-Cap Funds). Based on a sampling size of over 900 active funds. Past performance is no guarantee of future results.

[6]

Source: S&P Dow Jones Indices LLC, Data as of 29 Feb 2024. All figures are calculated in total return.

[7]

Source: S&P Dow Jones Indices LLC, as of 29 Feb 2024. Numbers in the bracket represents the number of constituents in that sector.

[8]

Please note that the annual rate stated may be increased up to a permitted maximum rate as set out in the Prospectus of the Fund by giving one month’s prior notice to relevant Unitholders. Please refer to the “Fees and Expenses” section of the Prospectus for further details of the fees and charges payable.

[9]

This figure is an estimate only (as the Fund is newly set up) and represents the sum of the estimated ongoing expenses chargeable to the Units over a 12-month period expressed as a percentage of the estimated average NAV of the Units over the same period. The actual figures may be different from the estimate. Please refer to the “Fees and Expenses” section in the Prospectus for details. This figure may vary from year to year.

Disclaimer

The S&P 500 is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by Hang Seng Investment Management Limited ("HSVM"). S&P®, S&P 500®, US 500, The 500, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); The Hang Seng S&P 500 Index ETF is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500.

The content is prepared by Hang Seng Investment Management Limited (“HSVM”). The content shall not be changed or modified and the content shall not be used in any other manner unless with the prior written consent of HSVM. At the time of publication of the content, certain information of the content is obtained and prepared from sources which HSVM believes to be reliable, and HSVM does not warrant, guarantee or represent the accuracy, validity or completeness of such information. Under no circumstances shall the content constitute a representation that it is correct as of any time subsequent to the date of publication. HSVM reserves the right to change the content without notice. The content is for reference only and is the view of HSVM and does not constitute and should not be regarded as an offer or solicitation to anyone to invest into any investment product. You should read the relevant investment product’s offering document (including the full text of the risk factors and charges stated therein). Investment involves risks (including the risk of loss of capital invested), prices of investment product units may go up as well as down, past performance is not indicative of future performance. A positive distribution rate (if any) does not imply a positive return. Fund award (if any) is for reference only and does not guarantee any fund performance or the performance of HSVM. If you have any doubt about the content or investment product (including its offering document), you should seek independent professional financial advice. HSVM will not be liable to anyone for any cost, claims, fees, penalties, loss or liability incurred if the content is improperly used. The content shall not be duplicated or stored or distributed or “Hang Seng Investment Management Limited”, “恒生投資管理有限公司”, “恒生投資管理”, “恒生投資” or any marks containing these names shall not be used without the prior written consent of HSVM. HSVM and Hang Seng Indexes Company Limited and other index companies (collectively “Index Companies”) are separate and independent entities, HSVM’s views and opinions do not represent the views or opinions of the Index Companies and HSVM cannot influence Index Companies on any matter. Where the investment products referred to in the content have been authorized by the Securities and Futures Commission or the China Securities Regulatory Commission or other regulators (as the case may be), such authorization is not a recommendation or endorsement of the investment products and does not guarantee the commercial merits of the investment products or their performance. It does not mean the investment products are suitable for all investors nor is it an endorsement of their suitability for any particular investor or class of investors. The content has not been reviewed by the Securities and Futures Commission.