China A-Shares vs the S&P 500

## What this measures

How mainland Chinese stocks (the CSI 300, held through the ASHR fund) have done against U.S. large caps (the S&P 500, through SPY), both measured in U.S. dollars.

## Why it matters

It is the scoreboard for one of the largest capital-allocation questions in the world: whether money is better in China or the United States. It also carries the yuan's moves against the dollar.

## How to read it

100 is January 4, 2016. A reading of 50 means Chinese A-shares have done half as well as the S&P 500 since then. A falling line means China is lagging. The low so far was 31.4 on September 13, 2024; on October 8, 2026 it read 32.6.

## What it does not say

Both funds' prices exclude dividends, and the China fund carries its own fees and tracking differences from the CSI 300 index.

## Source

Received through a licensed market data provider. Ratio computed by Palanor.