ASHS vs. ASHR

Last updated Jun 23, 2026

ASHS (Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF) and ASHR (Xtrackers Harvest CSI 300 China A-Shares ETF) are both China Equities funds - ASHS tracks the CSI 500 Index while ASHR tracks the CSI 300 Index. Both are passively managed. Over the past 10 years, ASHS returned 4.33%/yr vs 6.32%/yr for ASHR. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.65% expense ratio.

Performance

ASHS vs. ASHR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) and Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASHS achieves a 23.25% return, which is significantly higher than ASHR's 13.55% return. Over the past 10 years, ASHS has underperformed ASHR with an annualized return of 4.33%, while ASHR has yielded a comparatively higher 6.32% annualized return.

ASHS

• 1D: 2.15%
• 1M: 4.69%
• YTD: 23.25%
• 6M: 27.23%
• 1Y: 69.26%
• 3Y*: 17.55%
• 5Y*: 5.45%
• 10Y*: 4.33%

ASHR

• 1D: 2.64%
• 1M: 5.52%
• YTD: 13.55%
• 6M: 14.38%
• 1Y: 42.93%
• 3Y*: 14.04%
• 5Y*: 0.31%
• 10Y*: 6.32%

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

ASHS vs. ASHR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF	23.25%	39.48%	2.68%	-10.03%	-24.78%	17.66%	28.22%	24.53%	-35.91%	7.90%
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF	13.55%	27.02%	11.95%	-12.52%	-27.52%	-1.57%	36.29%	36.50%	-28.45%	33.47%

Correlation

The correlation between ASHS and ASHR is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since May 21, 2014	0.84

The correlation between ASHS and ASHR has been stable across timeframes, ranging from 0.84 to 0.86 - a consistent structural relationship.

ASHS vs. ASHR - Sectors Allocation Comparison

Sectors	ASHS	ASHR
Technology	33.2%	31.1%
Industrials	18.7%	16.1%
Basic Materials	16.5%	9.4%
Healthcare	6.2%	4.4%
Consumer Cyclical	5.3%	6.4%
Financial Services	5.3%	19.1%
Utilities	2.3%	3.1%
Energy	2.2%	2.5%
Consumer Defensive	1.7%	6.7%
Communication Services	1.3%	0.8%
Real Estate	0.5%	0.4%

Return for Risk

ASHS vs. ASHR — Risk / Return Rank

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

ASHS

ASHS Risk / Return Rank: 86
ASHS Sharpe Ratio Rank: 91
ASHS Sortino Ratio Rank: 86
ASHS Omega Ratio Rank: 84
ASHS Calmar Ratio Rank: 88
ASHS Martin Ratio Rank: 81

ASHR

ASHR Risk / Return Rank: 82
ASHR Sharpe Ratio Rank: 80
ASHR Sortino Ratio Rank: 79
ASHR Omega Ratio Rank: 76
ASHR Calmar Ratio Rank: 91
ASHR Martin Ratio Rank: 83

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.

ASHS vs. ASHR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) and Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR). 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.

	ASHS	ASHR	Difference
Sharpe ratio: Return per unit of total volatility	3.01	2.46	+0.55
Sortino ratio: Return per unit of downside risk	3.71	3.36	+0.35
Omega ratio: Gain probability vs. loss probability	1.48	1.43	+0.05
Calmar ratio: Return relative to maximum drawdown	4.96	5.61	-0.64
Martin ratio: Return relative to average drawdown	15.51	16.31	-0.80

ASHS vs. ASHR - Sharpe Ratio Comparison

The current ASHS Sharpe Ratio is 3.01, which is comparable to the ASHR Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of ASHS and ASHR, 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

ASHS vs. ASHR - Drawdown Comparison

The maximum ASHS drawdown since its inception was -69.90%, which is greater than ASHR's maximum drawdown of -51.30%. Use the drawdown chart below to compare losses from any high point for ASHS and ASHR.

Drawdown Indicators

	ASHS	ASHR	Difference
Max Drawdown Largest peak-to-trough decline	-69.90%	-51.30%	-18.60%
Max Drawdown (1Y) Largest decline over 1 year	-14.03%	-7.69%	-6.34%
Max Drawdown (3Y) Largest decline over 3 years	-34.13%	-33.12%	-1.01%
Max Drawdown (5Y) Largest decline over 5 years	-47.81%	-44.59%	-3.22%
Max Drawdown (10Y) Largest decline over 10 years	-47.81%	-51.30%	+3.49%
Current Drawdown Current decline from peak	-28.86%	-13.00%	-15.86%
Average Drawdown Average peak-to-trough decline	-48.49%	-29.13%	-19.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.48%	2.64%	+1.84%

Volatility

ASHS vs. ASHR - Volatility Comparison

Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) has a higher volatility of 7.65% compared to Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) at 6.41%. This indicates that ASHS's price experiences larger fluctuations and is considered to be riskier than ASHR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASHS	ASHR	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.65%	6.41%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	17.69%	12.47%	+5.22%
Volatility (1Y) Calculated over the trailing 1-year period	23.19%	17.58%	+5.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.57%	23.96%	+2.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.60%	24.09%	+1.51%

ASHS vs. ASHR - Expense Ratio Comparison

Both ASHS and ASHR have an expense ratio of 0.65%.

Dividends

ASHS vs. ASHR - Dividend Comparison

ASHS has not paid dividends to shareholders, while ASHR's dividend yield for the trailing twelve months is around 2.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF	2.03%	2.31%	1.13%	2.48%	1.13%	0.88%	0.81%	0.98%	1.32%	0.84%	0.73%	30.13%
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF	0.00%	0.00%	0.69%	0.65%	1.90%	0.76%	0.43%	0.57%	0.00%	0.00%	0.00%	8.34%

Frequently Asked Questions

Can I hold both ASHS and ASHR in my portfolio?

ASHS and ASHR have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASHS or ASHR?

ASHS has higher volatility (7.65%) compared to ASHR (6.41%). In terms of maximum drawdown, ASHS dropped -69.90% vs ASHR's -51.30%.

Which ETF is better, ASHS or ASHR?

On 10-year performance, ASHR leads with 6.32% vs 4.33% for ASHS. Both ETFs have the same 0.65% expense ratio. On volatility, ASHR has been the lower-risk option at 6.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ASHS or ASHR?

Over the 10-year period, ASHR has performed better with a 6.32% return vs 4.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ASHS or ASHR?

ASHS and ASHR have the same expense ratio: 0.65% per year.

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

ASHR has the higher dividend yield at 2.03%, compared with 0.00% for ASHS.

What is the main difference between ASHS and ASHR?

ASHS tracks CSI 500 Index, while ASHR tracks CSI 300 Index. They also come from different issuers: Deutsche Bank and DWS.

Which has better risk-adjusted returns?

ASHS currently has the higher Sharpe Ratio (3.01 vs 2.46), 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.