ASHR vs. EWH

Last updated Jun 24, 2026

ASHR (Xtrackers Harvest CSI 300 China A-Shares ETF) and EWH (iShares MSCI Hong Kong ETF) are both exchange-traded funds - ASHR is a China Equities fund tracking the CSI 300 Index, while EWH is a Asia Pacific Equities fund tracking the MSCI Hong Kong Index. Both are passively managed. Over the past 10 years, ASHR returned 5.96%/yr vs 4.69%/yr for EWH. A 0.60 correlation means they provide meaningful diversification when combined. ASHR charges 0.65%/yr vs 0.49%/yr for EWH.

Performance

ASHR vs. EWH - 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 iShares MSCI Hong Kong ETF (EWH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASHR achieves a 9.77% return, which is significantly higher than EWH's 1.00% return. Over the past 10 years, ASHR has outperformed EWH with an annualized return of 5.96%, while EWH has yielded a comparatively lower 4.69% annualized return.

ASHR

• 1D: -3.32%
• 1M: 2.01%
• YTD: 9.77%
• 6M: 10.21%
• 1Y: 37.51%
• 3Y*: 12.76%
• 5Y*: -0.54%
• 10Y*: 5.96%

EWH

• 1D: -0.98%
• 1M: -8.64%
• YTD: 1.00%
• 6M: -1.14%
• 1Y: 14.36%
• 3Y*: 8.16%
• 5Y*: -1.00%
• 10Y*: 4.69%

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

ASHR vs. EWH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF	9.77%	27.02%	11.95%	-12.52%	-27.52%	-1.57%	36.29%	36.50%	-28.45%	33.47%
EWH iShares MSCI Hong Kong ETF	1.00%	34.50%	0.00%	-13.87%	-6.81%	-3.49%	4.17%	10.74%	-8.76%	36.46%

Correlation

The correlation between ASHR and EWH is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Nov 6, 2013	0.60

The correlation between ASHR and EWH has been stable across timeframes, ranging from 0.56 to 0.63 - a consistent structural relationship.

ASHR vs. EWH - Sectors Allocation Comparison

Sectors	ASHR	EWH
Technology	31.1%	-
Financial Services	19.1%	43.9%
Industrials	16.1%	18.3%
Basic Materials	9.4%	-
Consumer Defensive	6.7%	2.6%
Consumer Cyclical	6.4%	3.9%
Healthcare	4.4%	-
Utilities	3.1%	11.6%
Energy	2.5%	-
Communication Services	0.8%	1.7%
Real Estate	0.4%	18.0%

Return for Risk

ASHR vs. EWH — Risk / Return Rank

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

ASHR

ASHR Risk / Return Rank: 73
ASHR Sharpe Ratio Rank: 68
ASHR Sortino Ratio Rank: 66
ASHR Omega Ratio Rank: 66
ASHR Calmar Ratio Rank: 88
ASHR Martin Ratio Rank: 77

EWH

EWH Risk / Return Rank: 25
EWH Sharpe Ratio Rank: 25
EWH Sortino Ratio Rank: 24
EWH Omega Ratio Rank: 23
EWH Calmar Ratio Rank: 24
EWH Martin Ratio Rank: 28

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. EWH - 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 iShares MSCI Hong Kong ETF (EWH). 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	EWH	Difference
Sharpe ratio: Return per unit of total volatility	2.11	0.86	+1.24
Sortino ratio: Return per unit of downside risk	2.89	1.30	+1.59
Omega ratio: Gain probability vs. loss probability	1.37	1.16	+0.22
Calmar ratio: Return relative to maximum drawdown	4.90	1.12	+3.78
Martin ratio: Return relative to average drawdown	14.20	3.61	+10.60

ASHR vs. EWH - Sharpe Ratio Comparison

The current ASHR Sharpe Ratio is 2.11, which is higher than the EWH Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of ASHR and EWH, 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. EWH - Drawdown Comparison

The maximum ASHR drawdown since its inception was -51.30%, smaller than the maximum EWH drawdown of -66.44%. Use the drawdown chart below to compare losses from any high point for ASHR and EWH.

Drawdown Indicators

	ASHR	EWH	Difference
Max Drawdown Largest peak-to-trough decline	-51.30%	-66.44%	+15.14%
Max Drawdown (1Y) Largest decline over 1 year	-7.69%	-12.91%	+5.22%
Max Drawdown (3Y) Largest decline over 3 years	-33.12%	-24.93%	-8.19%
Max Drawdown (5Y) Largest decline over 5 years	-44.59%	-41.28%	-3.31%
Max Drawdown (10Y) Largest decline over 10 years	-51.30%	-42.71%	-8.59%
Current Drawdown Current decline from peak	-15.89%	-12.58%	-3.31%
Average Drawdown Average peak-to-trough decline	-29.13%	-19.46%	-9.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	3.99%	-1.34%

Volatility

ASHR vs. EWH - Volatility Comparison

Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) has a higher volatility of 7.31% compared to iShares MSCI Hong Kong ETF (EWH) at 5.32%. This indicates that ASHR's price experiences larger fluctuations and is considered to be riskier than EWH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASHR	EWH	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.31%	5.32%	+1.99%
Volatility (6M) Calculated over the trailing 6-month period	12.95%	12.49%	+0.46%
Volatility (1Y) Calculated over the trailing 1-year period	17.88%	16.78%	+1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.01%	20.11%	+3.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.09%	19.54%	+4.55%

ASHR vs. EWH - Expense Ratio Comparison

ASHR has a 0.65% expense ratio, which is higher than EWH's 0.49% expense ratio.

Dividends

ASHR vs. EWH - Dividend Comparison

ASHR's dividend yield for the trailing twelve months is around 2.10%, less than EWH's 4.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF	2.10%	2.31%	1.13%	2.48%	1.13%	0.88%	0.81%	0.98%	1.32%	0.84%	0.73%	30.13%
EWH iShares MSCI Hong Kong ETF	4.90%	5.20%	4.17%	4.28%	2.91%	2.78%	2.56%	2.71%	2.93%	4.35%	3.08%	2.63%

Frequently Asked Questions

Can I hold both ASHR and EWH in my portfolio?

ASHR and EWH have a correlation of 0.56, 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 EWH?

ASHR has higher volatility (7.31%) compared to EWH (5.32%). In terms of maximum drawdown, ASHR dropped -51.30% vs EWH's -66.44%.

Which ETF is better, ASHR or EWH?

On 10-year performance, ASHR leads with 5.96% vs 4.69% for EWH. On fees, EWH is cheaper at 0.49% per year. On volatility, EWH has been the lower-risk option at 5.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ASHR or EWH?

Over the 10-year period, ASHR has performed better with a 5.96% return vs 4.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ASHR or EWH?

EWH is cheaper with a 0.49% expense ratio, compared with 0.65% for ASHR.

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

EWH has the higher dividend yield at 4.90%, compared with 2.10% for ASHR.

What is the main difference between ASHR and EWH?

ASHR is categorized as China Equities, while EWH is Asia Pacific Equities. ASHR tracks CSI 300 Index, while EWH tracks MSCI Hong Kong Index. They also come from different issuers: DWS and iShares. Their fees differ too: 0.65% for ASHR and 0.49% for EWH.

Which has better risk-adjusted returns?

ASHR currently has the higher Sharpe Ratio (2.11 vs 0.86), 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.