ASHR vs. CXSE

Last updated Jun 25, 2026

ASHR (Xtrackers Harvest CSI 300 China A-Shares ETF) and CXSE (WisdomTree China ex-State-Owned Enterprises Fund) are both China Equities funds - ASHR tracks the CSI 300 Index while CXSE tracks the WisdomTree China ex-State-Owned Enterprises Index. Both are passively managed. Over the past 10 years, ASHR returned 5.90%/yr vs 7.01%/yr for CXSE. A 0.70 correlation means they provide meaningful diversification when combined. ASHR charges 0.65%/yr vs 0.32%/yr for CXSE.

Performance

ASHR vs. CXSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) and WisdomTree China ex-State-Owned Enterprises Fund (CXSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASHR achieves a 9.16% return, which is significantly higher than CXSE's -4.16% return. Over the past 10 years, ASHR has underperformed CXSE with an annualized return of 5.90%, while CXSE has yielded a comparatively higher 7.01% annualized return.

ASHR

• 1D: -0.55%
• 1M: 1.44%
• YTD: 9.16%
• 6M: 9.26%
• 1Y: 34.40%
• 3Y*: 12.55%
• 5Y*: -0.97%
• 10Y*: 5.90%

CXSE

• 1D: -0.29%
• 1M: -3.14%
• YTD: -4.16%
• 6M: -5.53%
• 1Y: 12.86%
• 3Y*: 10.02%
• 5Y*: -9.30%
• 10Y*: 7.01%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ASHR vs. CXSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF	9.16%	27.02%	11.95%	-12.52%	-27.52%	-1.57%	36.29%	36.50%	-28.45%	33.47%
CXSE WisdomTree China ex-State-Owned Enterprises Fund	-4.16%	37.00%	8.56%	-18.02%	-29.32%	-23.67%	59.39%	37.96%	-28.55%	81.50%

Correlation

The correlation between ASHR and CXSE is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Nov 6, 2013	0.70

The correlation between ASHR and CXSE shifts across timeframes, from 0.70 (all time) to 0.84 (1 year), reflecting how their relationship changes across market environments.

ASHR vs. CXSE - Sectors Allocation Comparison

Sectors	ASHR	CXSE
Technology	31.1%	27.4%
Financial Services	19.1%	6.2%
Industrials	16.1%	12.7%
Basic Materials	9.4%	3.2%
Consumer Defensive	6.7%	4.0%
Consumer Cyclical	6.4%	24.6%
Healthcare	4.4%	8.6%
Utilities	3.1%	0.2%
Energy	2.5%	0.4%
Communication Services	0.8%	12.1%
Real Estate	0.4%	0.8%

Return for Risk

ASHR vs. CXSE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASHR

ASHR Risk / Return Rank: 72
ASHR Sharpe Ratio Rank: 67
ASHR Sortino Ratio Rank: 66
ASHR Omega Ratio Rank: 64
ASHR Calmar Ratio Rank: 87
ASHR Martin Ratio Rank: 76

CXSE

CXSE Risk / Return Rank: 18
CXSE Sharpe Ratio Rank: 19
CXSE Sortino Ratio Rank: 19
CXSE Omega Ratio Rank: 19
CXSE Calmar Ratio Rank: 18
CXSE Martin Ratio Rank: 16

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASHR vs. CXSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) and WisdomTree China ex-State-Owned Enterprises Fund (CXSE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ASHR	CXSE	Difference
Sharpe ratio: Return per unit of total volatility	1.94	0.60	+1.34
Sortino ratio: Return per unit of downside risk	2.69	0.96	+1.73
Omega ratio: Gain probability vs. loss probability	1.34	1.12	+0.23
Calmar ratio: Return relative to maximum drawdown	4.49	0.73	+3.76
Martin ratio: Return relative to average drawdown	12.97	1.44	+11.53

ASHR vs. CXSE - Sharpe Ratio Comparison

The current ASHR Sharpe Ratio is 1.94, which is higher than the CXSE Sharpe Ratio of 0.60. The chart below compares the historical Sharpe Ratios of ASHR and CXSE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ASHR vs. CXSE - Drawdown Comparison

The maximum ASHR drawdown since its inception was -51.30%, smaller than the maximum CXSE drawdown of -70.01%. Use the drawdown chart below to compare losses from any high point for ASHR and CXSE.

Drawdown Indicators

	ASHR	CXSE	Difference
Max Drawdown Largest peak-to-trough decline	-51.30%	-70.01%	+18.71%
Max Drawdown (1Y) Largest decline over 1 year	-7.69%	-17.70%	+10.01%
Max Drawdown (3Y) Largest decline over 3 years	-33.12%	-32.12%	-1.00%
Max Drawdown (5Y) Largest decline over 5 years	-44.59%	-64.47%	+19.88%
Max Drawdown (10Y) Largest decline over 10 years	-51.30%	-70.01%	+18.71%
Current Drawdown Current decline from peak	-16.36%	-48.73%	+32.37%
Average Drawdown Average peak-to-trough decline	-29.12%	-27.90%	-1.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	8.96%	-6.30%

Volatility

ASHR vs. CXSE - Volatility Comparison

Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) and WisdomTree China ex-State-Owned Enterprises Fund (CXSE) have volatilities of 7.34% and 7.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASHR	CXSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.34%	7.43%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	12.96%	15.56%	-2.60%
Volatility (1Y) Calculated over the trailing 1-year period	17.89%	21.86%	-3.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.01%	32.37%	-8.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.09%	28.73%	-4.64%

ASHR vs. CXSE - Expense Ratio Comparison

ASHR has a 0.65% expense ratio, which is higher than CXSE's 0.32% expense ratio.

Dividends

ASHR vs. CXSE - Dividend Comparison

ASHR's dividend yield for the trailing twelve months is around 2.11%, which matches CXSE's 2.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF	2.11%	2.31%	1.13%	2.48%	1.13%	0.88%	0.81%	0.98%	1.32%	0.84%	0.73%	30.13%
CXSE WisdomTree China ex-State-Owned Enterprises Fund	2.09%	1.95%	1.70%	1.71%	1.55%	0.86%	0.54%	0.96%	1.49%	1.24%	1.39%	2.50%

Frequently Asked Questions

Can I hold both ASHR and CXSE in my portfolio?

ASHR and CXSE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASHR or CXSE?

CXSE has higher volatility (7.43%) compared to ASHR (7.34%). In terms of maximum drawdown, ASHR dropped -51.30% vs CXSE's -70.01%.

Which ETF is better, ASHR or CXSE?

On 10-year performance, CXSE leads with 7.01% vs 5.90% for ASHR. On fees, CXSE is cheaper at 0.32% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ASHR or CXSE?

Over the 10-year period, CXSE has performed better with a 7.01% return vs 5.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ASHR or CXSE?

CXSE is cheaper with a 0.32% expense ratio, compared with 0.65% for ASHR.

Which ETF pays a higher dividend yield, ASHR or CXSE?

ASHR has the higher dividend yield at 2.11%, compared with 2.09% for CXSE.

What is the main difference between ASHR and CXSE?

ASHR tracks CSI 300 Index, while CXSE tracks WisdomTree China ex-State-Owned Enterprises Index. They also come from different issuers: DWS and WisdomTree. Their fees differ too: 0.65% for ASHR and 0.32% for CXSE.

Which has better risk-adjusted returns?

ASHR currently has the higher Sharpe Ratio (1.94 vs 0.60), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.