SPDR S&P China ETF (GXC) Performance
GXC total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −15.5% since Dec 31, 2025
- 1 year
- −18.8% total return
- 5 years
- −4.7% a year
- 10 years
- +2.4% a year
- Since first price
- +4.2% a year since 2007
GXC trailing returns vs SPY, QQQ, AGG
| Period | GXC total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −7.9% | −7.9% | −1.0% | −5.0% | +0.9% |
| 3 months | −8.2% | −8.2% | +3.2% | +1.9% | −0.4% |
| 6 months | −14.1% | −14.8% | +7.8% | +8.4% | −1.5% |
| YTD | −15.5% | −16.1% | +12.3% | +15.1% | −1.0% |
| 1 year | −18.8% | −20.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +30.6%+9.3%/yr | +19.8% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −21.2%−4.7%/yr | −30.9% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +26.9%+2.4%/yr | +2.3% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +84.0%+4.1%/yr | +32.8% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionMar 23, 2007 | +123.6%+4.2%/yr | +51.7% | — | — | — |
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: GXC vs SPY
From Mar 23, 2007: GXC grew to $22,363, SPY to $75,673.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
GXC returns by calendar year
11 of 18 full years positive. Best 2009 (+60.6%), worst 2008 (−48.7%). 2026 is year to date.
GXC annual returns table
| Year | GXC | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −15.5% | −21.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +30.8% | −22.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +14.6% | −22.9% | +24.9% | +25.6% | +1.3% |
| 2023 | −9.9% | −26.5% | +26.2% | +54.9% | +5.7% |
| 2022 | −22.1% | −43.1% | −18.2% | −32.6% | −13.0% |
| 2021 | −19.7% | −34.8% | +28.7% | +27.4% | −1.8% |
| 2020 | +28.3% | −22.8% | +18.3% | +48.6% | +7.5% |
| 2019 | +23.1% | −16.9% | +31.2% | +39.0% | +8.5% |
| 2018 | −19.4% | −33.0% | −4.6% | −0.1% | +0.1% |
| 2017 | +51.7% | −8.1% | +21.7% | +32.7% | +3.6% |
| 2016 | +0.1% | −17.4% | +12.0% | +7.1% | +2.4% |
| 2015 | −5.2% | −33.6% | +1.2% | +9.4% | +0.5% |
| 2014 | +4.5% | −11.0% | +13.5% | +19.2% | +6.0% |
| 2013 | +8.1% | −19.1% | +32.3% | +36.6% | −2.0% |
| 2012 | +21.7% | −16.3% | +16.0% | +18.1% | +3.8% |
| 2011 | −16.8% | −35.1% | +1.9% | +3.4% | +7.7% |
| 2010 | +7.5% | −17.5% | +15.1% | +19.9% | +6.4% |
| 2009 | +60.6% | −25.7% | +26.4% | +54.7% | +3.0% |
| 2008 | −48.7% | −66.0% | −36.8% | −41.7% | +7.9% |
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.
GXC largest drawdowns
Now 40.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 31, 2007 | −72.2% | Oct 27, 2008 | Apr 22, 2015 | 12 months | 7.5 years |
| Feb 17, 2021 | −60.2% | Oct 31, 2022 | not yet | 1.7 years | 5.7 years so far |
| Apr 27, 2015 | −39.7% | Feb 11, 2016 | Jul 19, 2017 | 10 months | 2.2 years |
| Jan 26, 2018 | −33.0% | Oct 29, 2018 | Jul 8, 2020 | 9 months | 2.4 years |
| Jul 23, 2007 | −16.8% | Aug 16, 2007 | Aug 27, 2007 | 24 days | 35 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
GXC risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +9.7% | −2.2% | +3.0% | +4.6% |
| Volatility (annualized) | 20.3% | 26.3% | 23.1% | 25.9% |
| Sharpe ratio | 0.34 | -0.10 | 0.14 | 0.25 |
| Sortino ratio | 0.63 | -0.15 | 0.22 | 0.37 |
| Best month | +22.1% | +28.8% | +28.8% | +28.8% |
| Worst month | −10.9% | −14.4% | −14.4% | −23.6% |
| Best 12 months | +51.2% | +51.2% | +59.2% | +81.6% |
| Worst 12 months | −15.6% | −45.3% | −45.3% | −64.6% |
| Positive months | 50% | 45% | 52% | 53% |
| Beta vs S&P 500 | 0.30 | 0.35 | 0.52 | — |
| Correlation with S&P 500 | 0.18 | 0.21 | 0.34 | — |
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.
GXC rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 224 | −64.6% | +4.9% | +81.6% | 60% |
| 3-year (a year) | 200 | −22.6% | +5.6% | +25.5% | 77% |
| 5-year (a year) | 176 | −9.0% | +3.9% | +19.3% | 64% |
| 10-year (a year) | 116 | +0.2% | +5.1% | +11.9% | 100% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
GXC performance overview
SPDR S&P China ETF (GXC) returned −18.8% over the past year and +2.4% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +4.2% a year, turning $10,000 into about $22,363. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −72.2%, from Oct 31, 2007 to Oct 27, 2008, and it took 6.5 years to get back to the old high. GXC finished 11 of its 18 full calendar years with a gain; the best year was 2009 (+60.6%) and the worst 2008 (−48.7%). Volatility has been 25.9% a year.
Related: GXC chart, GXC holdings, GXC dividends. See the GXC overview for the latest quote and fund facts.
GXC performance FAQ
What is the GXC return over the past year?
GXC returned −18.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 20.5%.
What is the average annual return of GXC?
GXC has returned −4.7% a year over 5 years, +2.4% a year over 10 years, +4.2% a year since March 23, 2007 (total return, distributions reinvested).
How much would $10,000 invested in GXC be worth?
$10,000 invested in GXC at its first recorded close on March 23, 2007 would be worth about $22,363 on October 23, 2026 with distributions reinvested.
What was the worst year for GXC?
The worst calendar year was 2008, with a total return of −48.7%. The best was 2009 at +60.6%.
What is the biggest drawdown of GXC?
The largest peak-to-trough decline was −72.2% between October 31, 2007 and October 27, 2008. It recovered to the old high on April 22, 2015, 6.5 years after the bottom.
How volatile is GXC?
Over the past 3 years GXC had an annualized volatility of 20.3% and a Sharpe ratio of 0.34 (excess return over 1–3 month T-bills per unit of risk).