iShares China Large-Cap ETF (FXI) Performance
FXI total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −15.0% since Dec 31, 2025
- 1 year
- −18.6% total return
- 5 years
- −2.9% a year
- 10 years
- +0.8% a year
- Since first price
- +4.9% a year since 2004
FXI trailing returns vs SPY, QQQ, AGG
| Period | FXI total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −6.0% | −6.0% | −1.0% | −5.0% | +0.9% |
| 3 months | −6.2% | −6.2% | +3.2% | +1.9% | −0.4% |
| 6 months | −10.8% | −11.5% | +7.8% | +8.4% | −1.5% |
| YTD | −15.0% | −15.6% | +12.3% | +15.1% | −1.0% |
| 1 year | −18.6% | −20.0% | +14.4% | +15.9% | −1.1% |
| 3 years | +38.0%+11.3%/yr | +28.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −13.9%−2.9%/yr | −23.4% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +8.7%+0.8%/yr | −14.6% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +38.8%+2.2%/yr | −3.4% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +79.3%+3.0%/yr | +14.0% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionOct 8, 2004 | +189.8%+4.9%/yr | +80.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FXI vs SPY
From Oct 8, 2004: FXI grew to $28,977, SPY to $101,128.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FXI returns by calendar year
13 of 21 full years positive. Best 2006 (+83.2%), worst 2008 (−47.8%). 2026 is year to date.
FXI annual returns table
| Year | FXI | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −15.0% | −22.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +28.9% | −23.2% | +17.7% | +20.8% | +7.2% |
| 2024 | +29.0% | −19.5% | +24.9% | +25.6% | +1.3% |
| 2023 | −12.4% | −29.0% | +26.2% | +54.9% | +5.7% |
| 2022 | −20.7% | −46.1% | −18.2% | −32.6% | −13.0% |
| 2021 | −20.1% | −33.7% | +28.7% | +27.4% | −1.8% |
| 2020 | +8.9% | −25.1% | +18.3% | +48.6% | +7.5% |
| 2019 | +14.9% | −17.0% | +31.2% | +39.0% | +8.5% |
| 2018 | −13.3% | −28.2% | −4.6% | −0.1% | +0.1% |
| 2017 | +36.3% | −7.3% | +21.7% | +32.7% | +3.6% |
| 2016 | +1.1% | −16.7% | +12.0% | +7.1% | +2.4% |
| 2015 | −12.9% | −36.0% | +1.2% | +9.4% | +0.5% |
| 2014 | +11.5% | −11.9% | +13.5% | +19.2% | +6.0% |
| 2013 | −2.1% | −23.7% | +32.3% | +36.6% | −2.0% |
| 2012 | +19.2% | −19.5% | +16.0% | +18.1% | +3.8% |
| 2011 | −17.5% | −34.8% | +1.9% | +3.4% | +7.7% |
| 2010 | +3.5% | −17.0% | +15.1% | +19.9% | +6.4% |
| 2009 | +47.3% | −27.8% | +26.4% | +54.7% | +3.0% |
| 2008 | −47.8% | −66.8% | −36.8% | −41.7% | +7.9% |
| 2007 | +54.8% | −26.2% | +5.1% | +19.0% | +6.6% |
| 2006 | +83.2% | −21.2% | +15.8% | +7.1% | +3.9% |
| 2005 | +13.3% | −13.9% | +4.8% | +1.6% | +2.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FXI largest drawdowns
Now 33.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 31, 2007 | −72.7% | Oct 27, 2008 | Feb 11, 2021 | 12 months | 13.3 years |
| Feb 17, 2021 | −60.8% | Oct 31, 2022 | not yet | 1.7 years | 5.7 years so far |
| Jan 3, 2007 | −21.3% | Mar 5, 2007 | May 16, 2007 | 2 months | 4 months |
| May 8, 2006 | −21.2% | Jun 13, 2006 | Oct 12, 2006 | 36 days | 5 months |
| Jul 23, 2007 | −16.0% | Aug 16, 2007 | Aug 24, 2007 | 24 days | 32 days |
| Aug 15, 2005 | −13.9% | Oct 27, 2005 | Jan 5, 2006 | 2 months | 5 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FXI risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2004 |
|---|---|---|---|---|
| Annualized return | +11.4% | −0.3% | +1.3% | +5.4% |
| Volatility (annualized) | 21.5% | 29.3% | 24.3% | 26.2% |
| Sharpe ratio | 0.40 | 0.00 | 0.08 | — |
| Sortino ratio | 0.74 | 0.01 | 0.12 | — |
| Best month | +20.1% | +34.4% | +34.4% | +34.4% |
| Worst month | −9.4% | −19.0% | −19.0% | −27.0% |
| Best 12 months | +53.2% | +53.2% | +53.2% | +158.5% |
| Worst 12 months | −15.8% | −47.2% | −47.2% | −64.6% |
| Positive months | 50% | 47% | 53% | 57% |
| Beta vs S&P 500 | 0.15 | 0.30 | 0.47 | — |
| Correlation with S&P 500 | 0.09 | 0.16 | 0.29 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FXI rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 253 | −64.6% | +5.1% | +158.5% | 59% |
| 3-year (a year) | 229 | −22.1% | +3.1% | +63.7% | 64% |
| 5-year (a year) | 205 | −12.5% | +2.0% | +21.2% | 61% |
| 10-year (a year) | 145 | −3.2% | +2.5% | +13.0% | 80% |
Every holding period starting at a month-end since 2004. Returns for 3 years and longer are annualized.
FXI performance overview
iShares China Large-Cap ETF (FXI) returned −18.6% over the past year and +0.8% a year over ten years, with distributions reinvested. Since its first recorded price in 2004 it has returned +4.9% a year, turning $10,000 into about $28,977. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −72.7%, from Oct 31, 2007 to Oct 27, 2008, and it took 12.3 years to get back to the old high. FXI finished 13 of its 21 full calendar years with a gain; the best year was 2006 (+83.2%) and the worst 2008 (−47.8%). Volatility has been 26.2% a year.
Related: FXI chart, FXI holdings, FXI dividends. See the FXI overview for the latest quote and fund facts.
FXI performance FAQ
What is the FXI return over the past year?
FXI returned −18.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 20.0%.
What is the average annual return of FXI?
FXI has returned −2.9% a year over 5 years, +0.8% a year over 10 years, +4.9% a year since October 8, 2004 (total return, distributions reinvested).
How much would $10,000 invested in FXI be worth?
$10,000 invested in FXI at its first recorded close on October 8, 2004 would be worth about $28,977 on October 23, 2026 with distributions reinvested.
What was the worst year for FXI?
The worst calendar year was 2008, with a total return of −47.8%. The best was 2006 at +83.2%.
What is the biggest drawdown of FXI?
The largest peak-to-trough decline was −72.7% between October 31, 2007 and October 27, 2008. It recovered to the old high on February 11, 2021, 12.3 years after the bottom.
How volatile is FXI?
Over the past 3 years FXI had an annualized volatility of 21.5% and a Sharpe ratio of 0.40 (excess return over 1–3 month T-bills per unit of risk).