PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ASHS vs. ECNS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ASHS vs. ECNS

Last updated Jun 23, 2026

ASHS (Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF) and ECNS (iShares MSCI China Small-Cap ETF) are both exchange-traded funds - ASHS is a China Equities fund tracking the CSI 500 Index, while ECNS is a Asia Pacific Equities fund tracking the MSCI China Small Cap Index. Both are passively managed. Over the past 10 years, ASHS returned 4.33%/yr vs 1.74%/yr for ECNS. A 0.63 correlation means they provide meaningful diversification when combined. ASHS charges 0.65%/yr vs 0.59%/yr for ECNS.

Performance

ASHS vs. ECNS - 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 iShares MSCI China Small-Cap ETF (ECNS). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, ASHS achieves a 23.25% return, which is significantly higher than ECNS's -8.11% return. Over the past 10 years, ASHS has outperformed ECNS with an annualized return of 4.33%, while ECNS has yielded a comparatively lower 1.74% 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%

ECNS

1D
0.38%
1M
-4.88%
YTD
-8.11%
6M
-9.36%
1Y
5.33%
3Y*
7.60%
5Y*
-7.59%
10Y*
1.74%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ASHS vs. ECNS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
ECNS
iShares MSCI China Small-Cap ETF		-8.11%36.49%5.64%-23.05%-24.58%2.11%25.42%7.84%-18.27%27.55%

Correlation

The correlation between ASHS and ECNS is 0.64, 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

0.64

Correlation (3Y)
Calculated over the trailing 3-year period

0.70

Correlation (5Y)
Calculated over the trailing 5-year period

0.68

Correlation (10Y)
Calculated over the trailing 10-year period

0.65

Correlation (All Time)
Calculated using the full available price history since May 21, 2014

0.63

The correlation between ASHS and ECNS has been stable across timeframes, ranging from 0.63 to 0.70 - a consistent structural relationship.

ASHS vs. ECNS - Sectors Allocation Comparison

Sectors
ASHS
ECNS

Technology

33.2%
12.6%

Industrials

18.7%
18.0%

Basic Materials

16.5%
8.4%

Healthcare

6.2%
19.9%

Consumer Cyclical

5.3%
9.3%

Financial Services

5.3%
4.6%

Utilities

2.3%
2.4%

Energy

2.2%
3.2%

Consumer Defensive

1.7%
4.2%

Communication Services

1.3%
6.5%

Real Estate

0.5%
8.7%

Technology

ASHS
33.2%
ECNS
12.6%

Industrials

ASHS
18.7%
ECNS
18.0%

Basic Materials

ASHS
16.5%
ECNS
8.4%

Healthcare

ASHS
6.2%
ECNS
19.9%

Consumer Cyclical

ASHS
5.3%
ECNS
9.3%

Financial Services

ASHS
5.3%
ECNS
4.6%

Utilities

ASHS
2.3%
ECNS
2.4%

Energy

ASHS
2.2%
ECNS
3.2%

Consumer Defensive

ASHS
1.7%
ECNS
4.2%

Communication Services

ASHS
1.3%
ECNS
6.5%

Real Estate

ASHS
0.5%
ECNS
8.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF

iShares MSCI China Small-Cap ETF

Often compared with ASHS:
ASHS vs. ASHRASHS vs. FXIASHS vs. KGRNASHS vs. KBAASHS vs. FLCHASHS vs. CNYAASHS vs. CNXT
Often compared with ECNS:
ECNS vs. MCHIECNS vs. CNXTECNS vs. DFAEECNS vs. CQQQECNS vs. FLCHECNS vs. EWTECNS vs. SCHF

Return for Risk

ASHS vs. ECNS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ASHS
ASHS Risk / Return Rank: 8686
Overall Rank
ASHS Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
ASHS Sortino Ratio Rank: 8686
Sortino Ratio Rank
ASHS Omega Ratio Rank: 8484
Omega Ratio Rank
ASHS Calmar Ratio Rank: 8888
Calmar Ratio Rank
ASHS Martin Ratio Rank: 8181
Martin Ratio Rank
ECNS
ECNS Risk / Return Rank: 1111
Overall Rank
ECNS Sharpe Ratio Rank: 1212
Sharpe Ratio Rank
ECNS Sortino Ratio Rank: 1111
Sortino Ratio Rank
ECNS Omega Ratio Rank: 1212
Omega Ratio Rank
ECNS Calmar Ratio Rank: 1111
Calmar Ratio Rank
ECNS Martin Ratio Rank: 1111
Martin Ratio Rank
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. ECNS - 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 iShares MSCI China Small-Cap ETF (ECNS). 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.

ASHSECNSDifference
Sharpe ratioReturn per unit of total volatility
3.01
0.26

+2.75

Sortino ratioReturn per unit of downside risk
3.71
0.48

+3.22

Omega ratioGain probability vs. loss probability

1.48

1.06

+0.42

Calmar ratioReturn relative to maximum drawdown

4.96

0.25

+4.71

Martin ratioReturn relative to average drawdown

15.51

0.53

+14.99

ASHS vs. ECNS - Sharpe Ratio Comparison

The current ASHS Sharpe Ratio is 3.01, which is higher than the ECNS Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of ASHS and ECNS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

ASHS vs. ECNS - Drawdown Comparison

The maximum ASHS drawdown since its inception was -69.90%, which is greater than ECNS's maximum drawdown of -63.43%. Use the drawdown chart below to compare losses from any high point for ASHS and ECNS.

Loading charts...

Drawdown Indicators

ASHSECNSDifference

Max Drawdown

Largest peak-to-trough decline

-69.90%

-63.43%

-6.47%

Max Drawdown (1Y)

Largest decline over 1 year

-14.03%

-21.48%

+7.45%

Max Drawdown (3Y)

Largest decline over 3 years

-34.13%

-31.72%

-2.41%

Max Drawdown (5Y)

Largest decline over 5 years

-47.81%

-59.61%

+11.80%

Max Drawdown (10Y)

Largest decline over 10 years

-47.81%

-63.43%

+15.62%

Current Drawdown

Current decline from peak

-28.86%

-40.85%

+11.99%

Average Drawdown

Average peak-to-trough decline

-48.49%

-29.41%

-19.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.48%

10.14%

-5.66%

Volatility

ASHS vs. ECNS - Volatility Comparison

Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) has a higher volatility of 7.65% compared to iShares MSCI China Small-Cap ETF (ECNS) at 5.50%. This indicates that ASHS's price experiences larger fluctuations and is considered to be riskier than ECNS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

ASHSECNSDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.65%

5.50%

+2.15%

Volatility (6M)

Calculated over the trailing 6-month period

17.69%

13.46%

+4.23%

Volatility (1Y)

Calculated over the trailing 1-year period

23.19%

20.63%

+2.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.57%

29.43%

-2.86%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.60%

25.91%

-0.31%

ASHS vs. ECNS - Expense Ratio Comparison

ASHS has a 0.65% expense ratio, which is higher than ECNS's 0.59% expense ratio.

Dividends

ASHS vs. ECNS - Dividend Comparison

ASHS has not paid dividends to shareholders, while ECNS's dividend yield for the trailing twelve months is around 6.40%.

PositionTTM20252024202320222021202020192018201720162015
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%
ECNS
iShares MSCI China Small-Cap ETF		6.40%6.20%5.98%4.89%3.54%4.87%3.59%3.23%6.16%3.18%4.29%3.58%

Frequently Asked Questions

ASHS and ECNS have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ASHS has higher volatility (7.65%) compared to ECNS (5.50%). In terms of maximum drawdown, ASHS dropped -69.90% vs ECNS's -63.43%.

On 10-year performance, ASHS leads with 4.33% vs 1.74% for ECNS. On fees, ECNS is cheaper at 0.59% per year. On volatility, ECNS has been the lower-risk option at 5.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, ASHS has performed better with a 4.33% return vs 1.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ECNS is cheaper with a 0.59% expense ratio, compared with 0.65% for ASHS.

ECNS has the higher dividend yield at 6.40%, compared with 0.00% for ASHS.

ASHS is categorized as China Equities, while ECNS is Asia Pacific Equities. ASHS tracks CSI 500 Index, while ECNS tracks MSCI China Small Cap Index. They also come from different issuers: Deutsche Bank and iShares. Their fees differ too: 0.65% for ASHS and 0.59% for ECNS.

ASHS currently has the higher Sharpe Ratio (3.01 vs 0.26), 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.

Portfolio Optimizer

Find the right allocation for ASHS and ECNS

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer