Fund Evaluator:
RBC China Equity I (RBCIX)
Follow This Fund
Best Performing in Greater China Region Over the Last Year
| 53.4% | Fidelity Advisor China Region Z (FIQFX) |
| 53.2% | Fidelity China Region (FHKCX) |
| 36.9% | Oberweis China Opportunities (OBCHX) |
| 12.4% | Goldman Sachs China Equity Inv (GSAEX) |
| 9.9% | Guinness Atkinson China & Hong Kong (ICHKX) |
Fund Details
RBC China Equity I Overview
RBC China Equity I (RBCIX) is an actively managed International Equity Greater China Region fund. RBC Global Asset Management. launched the fund in 2022.
The investment seeks to provide long-term capital growth. The fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its assets in equity investments in issuers economically tied to China. China includes Mainland China, Hong Kong, and Macau. The Advisor expects to invest primarily in common stocks, but may also invest in depositary receipts. This may include securities that trade in local Chinese, Hong Kong, or other foreign exchanges and securities that trade in Renminbi (“RMB”), the official currency of China. The fund is non-diversified.
About RBC China Equity I (RBCIX)
There are 1 members of the management team with an average tenure of 4.31 years: Siguo Chen (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI China NR USD index with a weighting of 100%. RBC China Equity I has 88 securities in its portfolio. The top 10 holdings constitute 46.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
RBC China Equity I is part of the Equity global asset class and is within the International Equity fund group. RBC China Equity I has 98.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 98.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). RBC China Equity I has 1.7% of the portfolio in cash.
Assets Under Management
The fund has $4 million in total assets, which is below the $82 million average for the Greater China Region category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
RBCIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The RBC China Equity I expense ratio is high compared to funds in the Greater China Region category. RBC China Equity I has an expense ratio of 1.05%, which is 17% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. RBC China Equity I has a portfolio turnover rate of 134%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 73% for the Greater China Region category.
Recently, in the month of July 2026, RBC China Equity I returned 0.4%, which earned it a grade of B, as the Greater China Region category had an average return of -5.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
RBC China Equity I has a trailing yield of 3.53%, which is above the 1.94% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
RBC China Equity I Grades
Year to date, the fund has returned -0.1%, 5.7 percentage points worse than the category, which translates into a grade of C. The fund has returned 22.8% over the past year (grade of B) and 13.0% over the past three years (grade of B).
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RBCIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| RBCIX Return (NAV) | 0.4% | -4.0% | 22.8% | 13.0% | na | na |
| RBCIX Grade | B | D | B | B | na | na |
| +/- Category | 6.1% | -0.6% | 3.1% | 2.6% | na | na |
| Greater China Region Avg | -5.7% | -3.4% | 19.7% | 10.4% | -2.0% | 7.3% |
| RBCIX Tax Cost Ratio | na | na | 1.5% | 0.9% | na | na |
RBCIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| RBCIX Return (NAV) | -0.1% | 50.8% | 6.2% | -9.6% | na | na | na | na | na | na | na |
| RBCIX Grade | C | A | F | B | na | na | na | na | na | na | na |
| +/- Category | -5.7% | 17.5% | -5.1% | 4.5% | na | na | na | na | na | na | na |
| Greater China Region Avg | 5.6% | 33.3% | 11.3% | -14.1% | -27.7% | -9.3% | 44.5% | 32.1% | -17.3% | 51.2% | -2.3% |
| Risk Measures | |
| Standard Deviation: | 22.3% |
| Total Risk Index: | 1.82 - High |
| Category Risk Index: | 1.01 - Above Average |
| Category Risk Grade: | D (62% Rank) |
| Beta: | 0.77 |
| R-Squared: | 23% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 3.5% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $6 Mil |
| Fund Total Assets: | $ 5 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 134% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 4.3 years | |||
| Average Tenure: 4.3 years | |||
| Managers (Year): Chen Siguo (2022) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 88 |
| % in Top 10 Holdings: | 46.0% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 98.3% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 98.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.7% |
Purchase Information
| Fund Family: | RBC Global Asset Management. |
| Phone Number: | 800-422-2766 |
| Website: | www.rbcgam.us |
| Status: | Open |
| Inception Date: | April 11, 2022 |
| Min. Initial Purchase: | $100,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.05% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.27% |
| Share Class: | RBC China Equity R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
