As of September 2026, the S&P 500 index funds issued by China have developed into a fairly sizable presence in the market. Let’s first take a look at a few representative products currently leading in terms of scale, and the overall total expense ratios that include management fees and custody fees.
Among these top products, Bosera S&P with code 513500 has the largest assets, reaching RMB 24 billion, with a total expense ratio of 0.8%. Southern S&P with code 513650 comes next with assets of RMB 7.7 billion, and its total expense ratio is set at 0.75%. Another off-exchange product—Morgan S&P with code 017641—currently has assets of RMB 5 billion, with a total expense ratio of 0.65%. In addition, Huaxia S&P with code 159655 has assets of RMB 4 billion, with a total expense ratio of 0.75%.
If we sum up the products above, the combined total assets of these RMB-denominated funds are roughly around RMB 46 billion, which is equivalent to about USD 7 billion. Comparing this with a macro figure can make the relative position of this scale much clearer. The total market capitalization of all 500 companies included in the S&P 500 index is approximately as high as USD 70 trillion. In simple terms, the overall “plate” of this group of domestic funds is only about one ten-thousandth of the S&P 500 index’s total market capitalization.
To provide a more intuitive reference point, we can also observe performance in the U.S. domestic market. In the United States, the total assets of all types of funds specifically designed to track the S&P 500 index amount to roughly USD 1.6 trillion. This large figure accounts for about 23% of the index’s total market capitalization. Putting the two side by side, the scale of comparable funds in the U.S. domestic market is about 2,285 times that of the China market.
Among these top products, Bosera S&P with code 513500 has the largest assets, reaching RMB 24 billion, with a total expense ratio of 0.8%. Southern S&P with code 513650 comes next with assets of RMB 7.7 billion, and its total expense ratio is set at 0.75%. Another off-exchange product—Morgan S&P with code 017641—currently has assets of RMB 5 billion, with a total expense ratio of 0.65%. In addition, Huaxia S&P with code 159655 has assets of RMB 4 billion, with a total expense ratio of 0.75%.
If we sum up the products above, the combined total assets of these RMB-denominated funds are roughly around RMB 46 billion, which is equivalent to about USD 7 billion. Comparing this with a macro figure can make the relative position of this scale much clearer. The total market capitalization of all 500 companies included in the S&P 500 index is approximately as high as USD 70 trillion. In simple terms, the overall “plate” of this group of domestic funds is only about one ten-thousandth of the S&P 500 index’s total market capitalization.
To provide a more intuitive reference point, we can also observe performance in the U.S. domestic market. In the United States, the total assets of all types of funds specifically designed to track the S&P 500 index amount to roughly USD 1.6 trillion. This large figure accounts for about 23% of the index’s total market capitalization. Putting the two side by side, the scale of comparable funds in the U.S. domestic market is about 2,285 times that of the China market.