FXI vs SOXX: Correlation & Overlap
iShares China Large-Cap ETF (FXI) and iShares Semiconductor ETF (SOXX) show a moderate relationship: their 3-year correlation of weekly returns is 0.33. Looking through to holdings, 0% of the two portfolios is the same by weight.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FXI and SOXX?
On 3 years of weekly data the FXI/SOXX correlation comes out at 0.33, moderate. Recent behaviour matches the longer record: 0.25 over 1 year against 0.33 over 3. The 5-year figure is 0.33, and annualized covariance runs at 294.5 %².
By 3-year correlation, SOXX places #46 of the 74 assets tracked against FXI. Their recent paths diverged sharply: over the last 12 months SOXX outperformed by 116.1 percentage points (-6.1% for FXI against +110.0% for SOXX). The rolling one-year correlation moved between 0.26 and 0.68 over the past three years, a moderate range.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
FXI vs SOXX: side by side
| FXI (iShares China Large-Cap ETF) | SOXX (iShares Semiconductor ETF) | |
|---|---|---|
| 1-year return | -6.1% | +110.0% |
| 5-year return | -1.4% | +247.5% |
| Volatility (ann.) | 25.3% | 35.2% |
| Beta vs S&P 500 | 0.68 | 1.93 |
| Max drawdown (3Y) | -23.2% | -41.4% |
| Dividend yield | 1.87% | 0.29% |
| Expense ratio | 0.73% | 0.33% |
| Assets under management | $4.3B | $44.7B |
| Sector / category | ETF · International | ETF · Thematic |
FXI, iShares's Greater China Region fund, carries $4.3B under management, 50 holdings, a 0.73% expense ratio, a 1.87% trailing dividend yield. On the fund side, SOXX sits in the Technology category at iShares, with $44.7B under management, 30 holdings, a 0.33% expense ratio, a 0.29% trailing dividend yield.
Portfolio overlap between FXI and SOXX
The two portfolios are largely distinct. Weighing the shared positions, 0% of the two funds is identical, spread across 0 common holdings. That shared book is a large part of why the returns line up.
Largest positions held only by FXI: 9988 (9.72%), 939 (9.09%), 700 (8.51%), 1398 (6.35%), 1810 (5.16%). Only by SOXX: NVDA (8.87%), MU (8.64%), AMD (8.33%), AVGO (7.11%), MRVL (5.34%).
Overlap = sum of the smaller of the two weights across common holdings, from issuer disclosures as of 2026-08-26.
Year-by-year returns
| Year | FXI | SOXX |
|---|---|---|
| 2022 | -20.7% | -35.1% |
| 2023 | -12.4% | +67.1% |
| 2024 | +29.0% | +12.9% |
| 2025 | +28.9% | +40.7% |
| 2026 | -7.3% | +74.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FXI and SOXX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FXI and SOXX?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.25 over the last year and 0.33 over 5 years.
Is SOXX a good diversifier for FXI?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
How much do FXI and SOXX overlap?
0% by weight, across 0 common holdings, based on issuer-disclosed portfolios as of 2026-08-26.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fxi-vs-soxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fxi-vs-soxx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FXI correlations · SOXX correlations
