Why is Vanguard S&P 500 (3140.hk) listed in Hong Kong not as popular as other S&P 500 ETFs(VOO.etc)?

I have laid out a couple of reasons below:

• When 3140.HK is trading in the Asian hours, it will not be trading close to its NAV since the underlying securities are all US-listed stocks, ie when 3140.HK is trading, the US market for US stocks like Apple, Google is closed.
• Not being able to trade close to NAV means that there will premium/discount to the NAV. If there is a premium, it means that you have to pay more. This will increase your trading cost.
• Since it is not as popular, the trading volume will not be as high as the ones traded in the US. As a result, it will increase the bid-ask spread, which once again, increases your trading cost.
• 3140.HK cost more to invest than VOO (0.18% vs 0.03%). If you are cost-conscious which you should be for broad-market ETF, then going with VOO makes more sense. But then again, please note that US-domiciled ETF is subjected to a 30% dividend tax withholding. Look to Irish-domiciled ETF which has 15% dividend tax withholding.
  Hope this helps.
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