Chinese Tech ETFs Like FXI vs. US Stock Market Drop - What’s the Play Here?

Hey r/investing crew, I’ve been digging into some market trends lately and wanted to get your thoughts on this: Chinese tech ETFs like FXI (iShares China Large-Cap ETF) seem to be holding their own while the US stock market has been taking some hits. With all the tariff talk, economic uncertainty, and the S&P 500 looking a bit wobbly, is anyone else eyeing Chinese ETFs as a potential hedge or opportunity?

FXI tracks the FTSE China 50 Index—big names like Alibaba, Tencent, and JD.com—so it’s heavy on the large-cap Chinese stocks listed in Hong Kong. It’s not all tech, but tech’s a big chunk of it. Lately, it’s been showing some resilience, even with China’s own economic headwinds (property sector mess, slower growth, etc.). Meanwhile, the US market feels like it’s teetering—overvalued in spots, rate hikes looming, and everyone’s freaking out about a correction.

FXI’s cheaper than SPY/QQQ, with a 2.2% yield. Hedge potential or value trap with China’s risks (regulation, growth slowdown)? Anyone holding it or similar (KWEB, MCHI)? Thoughts?