(Bloomberg) -- Most stock investors would be thrilled with an 80% return in the past year. For those who bought BlackRock Inc.’s flagship ETF for mainland Chinese shares, however, it’s akin to getting shortchanged.

The $9.1 billion iShares FTSE A50 China Index ETF, an exchange-traded fund designed to track returns of the 50 largest companies traded in Shanghai and Shenzhen, has underperformed its benchmark by a whopping 29 percentage points on a total return basis over that span.

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