After the precipitous plunge in Chinese equities, exchange traded fund investors remain wary of China, largely ignoring a rally that has pushed Chinese markets back into bull territory.

The iShares China Large-Cap ETF (NYSEArca: FXI), the largest China-related ETF that tracks Chinese companies listed on the Hong Kong stock exchange, has jumped 20.2% since the August 24 low. Similarly, other China H-shares ETFs options including the SPDR S&P China ETF (NYSEArca: GXC) and the iShares MSCI China ETF (NYSEArca: MCHI) have increased 24.4% and 22.5%. A bull market is defined by a rise of 20% from a recent low.

Meanwhile, since August 24, FXI saw $138 million in net outflows, GXC lost $89.8 million and MCHI saw $37 million in redemptions, according to

Additionally, looking at China A-shares ETFs that track mainland Chinese stocks traded in Shanghai and Shenzhen, the Deutsche X-trackers Harvest CSI 300 China A-Shares ETF (NYSEArca: ASHR) surged 29.0%, KraneShares Bosera MSCI China A ETF (NYSEArca: KBA) rose 18.4% and Market Vectors ChinaAMC A-Share ETF (NYSEArca: PEK) advanced 32.4% since August 24.

Over the course of the rally, ASHR only saw $59.9 million in net inflows, KBA experienced $2.2 million in outflows and PEK added $4 million.

The Shanghai Composite Index officially entered a bull market Thursday, gaining 20.3% since the late-summer nadir, reports Chao Deng for the Wall Street Journal.

China’s smaller Shenzhen Composite Index and a gauge of China’s volatile start up shares have jumped 32% and 43%, respectively.