A look at some the largest China exchange traded funds could imply this has been a lost year for ETFs providing access to the world’s second-largest economy.
However, there have been pockets of impressive among small, less mainstream China ETFs in 2013 with the Powershares Golden Dragon Halter USX China Portfolio (NYSEArca: PGJ) being among the China funds that proves 2013 has not been a lost year for select Chinese stocks.
PGJ has surged 52% this year while attracting $28.8 million of its $318.6 million in assets under management. That during a year in which some of the largest China ETFs have bled assets. PGJ’s impressive run may not be over. [A Strong Year for Some China ETFs]
With Tuesday’s “advance, PGJ is now back above the 50-day moving average. We should eventually see the 20-day exponential moving average cross through the 50-day exponential moving average and begin to separate,” according to Deron Wagner of Morpheus Trading Group.
PGJ has traded lower over the past two months with the most noticeably decline occurring from Oct. 18 to Nov. 7. The fund has since reclaimed most, though not all of those losses.