There are alternatives to EWH starting with the First Trust Hong Kong AlphaDEX Fund (NYSEArca: FHK), which like the other First Trust AlphaDEX funds, eschews cap-weighting in favor of focusing on growth and value factors.

And there is the iShares MSCI Hong Kong Small-Cap ETF (NYSEArca: EWHS). EWHS is up 20% this year while FHK is higher by 7.2%.

iShares MSCI Hong Kong ETF

ETF Trends editorial team contributed to this piece.