SHANGHAI, (Reuters) – Just months after MSCI launched its China megacap index, first ETFs (exchange-traded funds) to track the index started trading in China Monday. They are armed with $4B, equaling the amount of money that tracks the long-established.

After the MSCI China A50 Connect Index raised 26.7 billion Yuan (or 4.17 billion dollars) in China, the ETFs were launched in Shanghai and Shenzhen.

The MSCI index was launched August 20th, and is now almost at par with $4 billion worth of global ETF funds tracking its competitor, which was launched back in 2003.

The global index publishing industry is in a fierce fight to attract investors by offering innovative ways to place bets on China’s massive onshore A share market. MSCI’s huge splash will make it more difficult for FTSE Russell.

FTSE Russell is part of London Stock Exchange and said that after seeing investor interest in the index decline over the last few years, it recently held consultations with the market about its China A offering. It also stated on Friday that they are reviewing the findings for any possible adjustments.

China Asset Management Co. China Southern Asset Management Co. China Universal Asset Management Co. Managed the four ETFs that started trading Monday.

Fond managers that track the MSCI China A 50 Connect Index claim it has a better sector-allocation approach than the FTSE A50.

Jialiang Li (fund manager, Southern Asset Management), who launched the MSCI A50 ETF, stated that “the index gives more weight China’s new economic stocks, such new energy and tech, but avoids overweighting financial or consumer staples.”

Li stated that the MSCI index will be a key investment indicator for foreign investors because it offers a more accurate reflection of China’s economic situation.

MSCI also partnered up with Hong Kong Exchanges and Clearing Ltd to launch futures products based upon the MSCI China A50 Connect Index. This index is challenging Singapore Exchange’s SGX FTSE China A50 Index Futures.

FTSE Russell stated that an ecosystem around the FTSE China A50 including a liquid derivatives market is a “trumpcard” for their index.