VP-DJ Shariah China A-Shares 100 ETF (0838EA) | Halal China ETF Malaysia

What is the VP-DJ Shariah China A-Shares 100 ETF?

The VP-DJ Shariah China A-Shares 100 ETF (0838EA) is a first-of-its-kind product in Malaysia: it is the only ETF on Bursa that gives Shariah-compliant exposure to Chinese mainland A-share stocks.

Managed by M&A Value Partners Asset Management Malaysia Sdn Bhd (formerly Value Partners Asset Management Malaysia), it tracks the Dow Jones Islamic Market China A-Shares 100 Index — a benchmark comprising the 100 largest Shariah-screened companies listed on the Shanghai (SSE) and Shenzhen (SZSE) stock exchanges.

Unlike 0823EA (which holds HK-listed stocks) and 0829EA (HK-listed consumer names), 0838EA invests directly in mainland China A-shares — the domestic stock market of China itself. This gives you exposure to companies that are primarily listed for Chinese domestic investors, including industrial champions like CATL (batteries), BYD (EVs), Midea (appliances) and Yangtze Power (electricity).

✓ Shariah-Compliant: All holdings are screened under the Dow Jones Islamic Market (DJIM) methodology, which applies both activity-based and financial ratio tests. Conventional banks and interest-based companies are excluded.

How the Shariah Screening Works

DJIM China A-Shares 100 Index — Screening Methodology

The index starts with the S&P Access China A Index universe and applies a two-stage filter:

S&P China A-Shares Universe

→

Business Activity Screen

→

Financial Ratio Screen

→

Top 100 by Market Cap

Business Activity Screen: Excludes companies with any significant revenue from alcohol, pork, tobacco, conventional weapons, gambling, adult entertainment, conventional banking/insurance, or interest-based financial services.

Financial Ratio Screen: Excludes companies where total debt, interest-bearing securities or accounts receivable exceed prescribed thresholds relative to total assets or market cap — preventing highly leveraged or interest-dependent companies from passing even if their core business is acceptable.

Remaining eligible stocks are ranked by float-adjusted market capitalisation. The top 80 by market cap are selected, then current constituents ranked 81–120 are added for stability, until 100 names are filled. The index is rebalanced semi-annually.

This rigorous screening means that even though China's stock market is dominated by state-owned banks — which would fail Shariah criteria — the DJIM index successfully selects a halal-compliant slice of the market including manufacturers, healthcare companies, technology firms and energy infrastructure.

Top Holdings

The index is heavy in manufacturing, clean energy and healthcare — reflecting which large A-share companies pass Shariah screening. Conventional banks are absent.

#	Company	Sector	Weight

Holdings at index launch (2021). Weights change semi-annually. Verify current composition at the official fund documents. Source: I3investor / Value Partners.

Portfolio Breakdown

Sector Allocation

Exchange Listing

All 100 holdings are A-shares listed on Shanghai (SSE) or Shenzhen (SZSE) exchanges. No HK-listed or US-listed stocks are included. Data approximate.

Understanding China A-Shares

China's equity market has three main segments relevant to Malaysian investors:

A-Shares (what 0838EA holds): Mainland Chinese companies listed on the Shanghai Stock Exchange (SSE) or Shenzhen Stock Exchange (SZSE), traded in Chinese Renminbi. These were historically inaccessible to foreign investors, but have been gradually opened up through programmes like Stock Connect.

H-Shares (what 0823EA holds): Mainland companies listed in Hong Kong, traded in Hong Kong Dollar. More internationally accessible and traditionally held by foreign investors.

Red Chips / P Chips (what 0829EA holds): HK-listed companies owned by Chinese government or private entities, incorporated outside mainland China.

Currency note: Although 0838EA trades on Bursa in MYR, the underlying stocks are A-shares priced in Chinese Renminbi (CNY/CNH). You therefore have indirect exposure to the CNY/MYR exchange rate. A strengthening Renminbi benefits returns; a weakening CNY reduces them.

Fees & Charges

Component	Rate (p.a.)	Notes
Annual Management Fee	~0.80%	M&A Value Partners Asset Management Malaysia
Annual Trustee Fee	~0.05%	Licensed trustee
Index Licence Fee	~0.05%	S&P Dow Jones Indices (DJIM licence)
Total Expense Ratio (est.)	~0.90%	Approx. total ongoing annual cost
Brokerage Commission	0.08%–0.10%	Per trade via Bursa broker

The ~0.90% TER is higher than 0823EA (~0.70%) and 0829EA (~0.59%), partly reflecting the additional complexity and cost of accessing mainland A-shares and maintaining the DJIM Shariah screening licence. Confirm exact fees in the official prospectus.

How to Buy 0838EA

Open a Bursa trading account

You need a CDS account and trading account with a licensed broker. Popular options: Rakuten Trade, moomoo MY, Maybank IB, RHB IB, CGS International.
Search for 0838EA or CHINA100-MYR

Use the stock code 0838EA in your broker's platform. The short name is CHINA100-MYR.
Check liquidity before trading

0838EA has a smaller AUM than 0829EA or 0823EA. Use limit orders rather than market orders to avoid wide bid-ask spreads.
Place your order (min 100 units)

At ~RM 1.17/unit, the minimum investment is approximately RM 117 plus brokerage.
Settlement T+2

No sales charge or redemption fee beyond brokerage. Funds are settled 2 business days after the trade.

China ETF Comparison

All China ETFs on Bursa Malaysia

ETF	Holdings	Market	TER	Shariah
0838EA VP-DJ Shariah China A-Shares 100	Industrial, EV, healthcare	SSE/SZSE A-Shares	~0.90%	✓ Shariah
0823EA Principal FTSE China 50	Banks, Tencent, Alibaba	HKEX (H-shares)	~0.70%	✗ No
0829EA/EB TradePlus S&P New China	Internet & consumption	HKEX (P chips/W-shares)	~0.59%	✗ No

If Shariah compliance is a requirement, 0838EA is your only option among Malaysia's China ETFs. If you have no Shariah requirement and want lower cost, 0829EA or 0823EA offer broader market access at better pricing.

VP-DJ Shariah ChinaA-Shares 100 ETF