The BCHI ETF is an active ETF that seeks investment opportunities connected to shifts in global supply chains within emerging-market equities excluding China. GMO combines country allocation, sector themes, and individual company analysis to build its portfolio.

It may be suitable for long-term investors who want to review emerging-market exposure with a reduced China weighting alongside a supply chain realignment theme.

It is an actively managed ETF run by GMO.

GMO examines each country's demographics, cost competitiveness, infrastructure, macroeconomic conditions, trade flows, and valuations before selecting sectors and themes and picking individual companies. As a result, the influence of manager judgment may be more pronounced than in a straightforward index-tracking approach.

• Emerging-market exposure excluding China
• A combination of country allocation with theme and security selection

Assets under management (AUM) stand at $12.8M, with a total expense ratio of 0.65% annually.

Liquidity and fees can vary even among funds in the same category. Unlike broad index products, the BCHI ETF combines a supply chain realignment theme with active manager judgment, so it is appropriate to review trading conditions and costs alongside changes in country-level exposure.

Performance trends can vary based on expectations tied to supply chain migration, overall risk appetite for emerging-market equities, and local currency movements. If conditions in a particular country or sector change, the selected portfolio's volatility may differ from that of broad emerging-market products.

Fund flows into this product can be influenced by demand for China-excluded exposure, overall investor sentiment toward emerging markets, and the market's view of active management. When market uncertainty rises, country-level regulation, liquidity conditions, and currency shifts may all factor into buy and sell decisions.

The fund is distinguished by its China-excluded emerging-market selection strategy aligned with supply chain shifts, but performance dispersion can be significant due to active management and country-specific variables.

The IEMG ETF shown in the table provides broad emerging-market exposure, while the VWO ETF serves as a comparable Vanguard emerging-market product. The EEM ETF offers an iShares approach to emerging markets, and the AVEM ETF is another emerging-market equity benchmark. The EMXC ETF shares the trait of excluding China with the BCHI ETF, making the two worth comparing in terms of investment scope. However, since the BCHI ETF is actively managed and selects countries, sectors, and securities linked to supply chain shifts, comparisons should consider country exposure, management style, and fee structure together.

Before investing, it is worth checking whether an investment universe that excludes China aligns with your own emerging-market allocation objectives. Because the BCHI ETF is actively managed with individual country and sector selection, its management style, costs, and trading conditions should be reviewed alongside broad index products for comparison.

Emerging-market equities can experience significant price swings based on local economic conditions, policy, regulation, liquidity, and currency factors. Because the BCHI ETF excludes China and selects areas tied to supply chain shifts, it may be exposed to country and sector risks that differ from those of broad emerging-market products.

The GMO Beyond China ETF (GMO) is an active ETF worth considering for those looking to reduce their China weighting while seeking emerging-market opportunities tied to supply chain realignment. However, it is appropriate to first verify that the BCHI ETF's selection strategy matches your investment objectives and that the cost and country exposure differences relative to comparable products are acceptable before making a decision.