China & Hong Kong Equities
Today’s price sits at the 30.6th percentile of modeled fair value — 56% of modeled scenarios put fair value above the market.
- Median fair value
- 106.0
- Upside to median
- +6.0%
- Last close
- $53.95
- Confidence
- moderate-high
Return distributions, not point forecasts
Percentiles describe the spread of scenario outcomes under the stated method. The width of the range carries as much information as the midpoint.
One year
modeled- P90
- +42.1%
- P75
- +27.5%
- Median
- +11.3%
- P25
- -4.9%
- P10
- -19.5%
68% of modeled scenarios end positive.
Shareholder yield plus sustainable earnings growth plus a 20% partial valuation convergence, dispersed using realized index volatility.
Three years, annualised
modeled- P90
- +30.0%
- P75
- +20.9%
- Median
- +10.7%
- P25
- +0.6%
- P10
- -8.5%
Same decomposition as the one-year model with valuation convergence spread over three years and dispersion scaled by the square root of the horizon.
Against the Treasury hurdle
- 1y Treasury
- 4.13%
- Expected excess
- +7.2%
- Basis
- direct
Modeled one-year expected-return median less the one-year Treasury par yield on an investment basis. This is a modeled spread, not a guaranteed excess return, and no calibrated probability of beating the hurdle is published for this asset class.
9 in this asset class
| Symbol | Valuation | Fair value | Last close | 1y modeled |
|---|---|---|---|---|
| 2800.HK Hang Seng Index Tracker | —Unavailable | — | $26.00 | — |
| 3033.HK Hang Seng Technology Index | —Unavailable | — | $4.44 | — |
| ASHR China A-Shares | —Unavailable | — | $34.09 | — |
| CHIQ China Consumer Sector | —Unavailable | — | $16.87 | — |
| CQQQ China Technology Sector | —Unavailable | — | $47.44 | — |
| EWH Hong Kong Broad Market | —Unavailable | — | $22.93 | — |
| FXI China Large-Cap | —Unavailable | — | $35.00 | — |
| KWEB China Internet Sector | —Unavailable | — | $25.36 | — |
| MCHI China Broad Market | +1.2Somewhat cheap | 106.0 | $53.95 | +11.3% |