ASHS vs. MCHI

Last updated Apr 1, 2026

Compare and contrast key facts about Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) and iShares MSCI China ETF (MCHI).

ASHS and MCHI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ASHS is a passively managed fund by Deutsche Bank that tracks the performance of the CSI 500 Index. It was launched on May 21, 2014. MCHI is a passively managed fund by iShares that tracks the performance of the MSCI China Index. It was launched on Mar 29, 2011. Both ASHS and MCHI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ASHS vs. MCHI - 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 ETF (MCHI). The values are adjusted to include any dividend payments, if applicable.

ASHS vs. MCHI - 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	4.66%	39.48%	2.68%	-10.03%	-24.78%	17.66%	28.22%	24.53%	-35.91%	7.90%
MCHI iShares MSCI China ETF	-6.48%	31.04%	17.73%	-11.94%	-23.01%	-21.74%	27.78%	23.72%	-19.79%	54.67%

Returns By Period

In the year-to-date period, ASHS achieves a 4.66% return, which is significantly higher than MCHI's -6.48% return. Over the past 10 years, ASHS has underperformed MCHI with an annualized return of 2.07%, while MCHI has yielded a comparatively higher 4.66% annualized return.

ASHS

• 1D: 0.31%
• 1M: -11.46%
• YTD: 4.66%
• 6M: 7.27%
• 1Y: 40.76%
• 3Y*: 7.63%
• 5Y*: 3.78%
• 10Y*: 2.07%

MCHI

• 1D: 2.24%
• 1M: -4.88%
• YTD: -6.48%
• 6M: -13.64%
• 1Y: 5.57%
• 3Y*: 6.55%
• 5Y*: -5.65%
• 10Y*: 4.66%

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

ASHS vs. MCHI - Expense Ratio Comparison

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

ASHS

Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF

MCHI

iShares MSCI China ETF

Return for Risk

ASHS vs. MCHI — Risk / Return Rank

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

ASHS

ASHS Risk / Return Rank: 85
ASHS Sharpe Ratio Rank: 85
ASHS Sortino Ratio Rank: 83
ASHS Omega Ratio Rank: 83
ASHS Calmar Ratio Rank: 89
ASHS Martin Ratio Rank: 87

MCHI

MCHI Risk / Return Rank: 19
MCHI Sharpe Ratio Rank: 19
MCHI Sortino Ratio Rank: 20
MCHI Omega Ratio Rank: 20
MCHI Calmar Ratio Rank: 19
MCHI Martin Ratio Rank: 19

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. MCHI - 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 ETF (MCHI). 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.

	ASHS	MCHI	Difference
Sharpe ratio Return per unit of total volatility	1.70	0.23	+1.47
Sortino ratio Return per unit of downside risk	2.16	0.48	+1.68
Omega ratio Gain probability vs. loss probability	1.32	1.06	+0.25
Calmar ratio Return relative to maximum drawdown	2.85	0.31	+2.54
Martin ratio Return relative to average drawdown	10.16	0.80	+9.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ASHS vs. MCHI - Sharpe Ratio Comparison

The current ASHS Sharpe Ratio is 1.70, which is higher than the MCHI Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of ASHS and MCHI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ASHS	MCHI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	0.23	+1.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	-0.19	+0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.08	0.17	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.09	+0.07

Correlation

The correlation between ASHS and MCHI is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ASHS vs. MCHI - Dividend Comparison

ASHS has not paid dividends to shareholders, while MCHI's dividend yield for the trailing twelve months is around 2.26%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
MCHI iShares MSCI China ETF	2.26%	2.12%	2.31%	2.66%	1.78%	1.04%	1.04%	1.45%	1.60%	1.56%	1.66%	2.76%

Drawdowns

ASHS vs. MCHI - Drawdown Comparison

The maximum ASHS drawdown since its inception was -69.90%, which is greater than MCHI's maximum drawdown of -62.95%. Use the drawdown chart below to compare losses from any high point for ASHS and MCHI.

Drawdown Indicators

	ASHS	MCHI	Difference
Max Drawdown Largest peak-to-trough decline	-69.90%	-62.95%	-6.95%
Max Drawdown (1Y) Largest decline over 1 year	-14.03%	-17.17%	+3.14%
Max Drawdown (5Y) Largest decline over 5 years	-47.81%	-57.18%	+9.37%
Max Drawdown (10Y) Largest decline over 10 years	-47.81%	-62.95%	+15.14%
Current Drawdown Current decline from peak	-39.59%	-36.23%	-3.36%
Average Drawdown Average peak-to-trough decline	-48.78%	-24.40%	-24.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.93%	6.56%	-2.63%

Volatility

ASHS vs. MCHI - Volatility Comparison

Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) has a higher volatility of 8.57% compared to iShares MSCI China ETF (MCHI) at 7.34%. This indicates that ASHS's price experiences larger fluctuations and is considered to be riskier than MCHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASHS	MCHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.57%	7.34%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	16.21%	14.85%	+1.36%
Volatility (1Y) Calculated over the trailing 1-year period	24.04%	23.85%	+0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.08%	30.68%	-4.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.64%	27.39%	-1.75%