ASHS vs. USSG

Last updated Jun 4, 2026

ASHS (Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF) and USSG (Xtrackers MSCI USA ESG Leaders Equity ETF) are both exchange-traded funds - ASHS is a China Equities fund tracking the CSI 500 Index, while USSG is a Large Cap Growth Equities fund tracking the MSCI USA ESG Leaders. Both are passively managed. Over the past 5 years, ASHS returned 3.97%/yr vs 13.79%/yr for USSG. At a 0.33 correlation, their price movements are largely independent. ASHS charges 0.65%/yr vs 0.10%/yr for USSG.

Performance

ASHS vs. USSG - 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 MSCI USA ESG Leaders Equity ETF (USSG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASHS achieves a 15.10% return, which is significantly higher than USSG's 9.51% return.

ASHS

• 1D: -0.17%
• 1M: -0.19%
• YTD: 15.10%
• 6M: 23.90%
• 1Y: 57.65%
• 3Y*: 13.41%
• 5Y*: 3.97%
• 10Y*: 3.27%

USSG

• 1D: -0.80%
• 1M: 4.67%
• YTD: 9.51%
• 6M: 10.19%
• 1Y: 27.90%
• 3Y*: 22.38%
• 5Y*: 13.79%
• 10Y*: —

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

ASHS vs. USSG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF	15.10%	39.48%	2.68%	-10.03%	-24.78%	17.66%	28.22%	-6.21%
USSG Xtrackers MSCI USA ESG Leaders Equity ETF	9.51%	18.97%	23.45%	29.17%	-20.33%	31.83%	18.71%	19.24%

Correlation

The correlation between ASHS and USSG is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019	0.33

ASHS vs. USSG - Sectors Allocation Comparison

Sectors	ASHS	USSG
Technology	29.8%	36.9%
Industrials	19.7%	8.1%
Basic Materials	19.4%	2.1%
Healthcare	7.2%	9.6%
Financial Services	6.3%	10.6%
Consumer Cyclical	5.8%	8.6%
Energy	3.2%	2.1%
Communication Services	3.2%	14.5%
Consumer Defensive	2.6%	4.2%
Utilities	2.2%	1.1%
Real Estate	0.7%	2.2%

Return for Risk

ASHS vs. USSG — Risk / Return Rank

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

ASHS

ASHS Risk / Return Rank: 74
ASHS Sharpe Ratio Rank: 78
ASHS Sortino Ratio Rank: 71
ASHS Omega Ratio Rank: 70
ASHS Calmar Ratio Rank: 80
ASHS Martin Ratio Rank: 73

USSG

USSG Risk / Return Rank: 60
USSG Sharpe Ratio Rank: 64
USSG Sortino Ratio Rank: 64
USSG Omega Ratio Rank: 61
USSG Calmar Ratio Rank: 50
USSG Martin Ratio Rank: 60

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. USSG - 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 MSCI USA ESG Leaders Equity ETF (USSG). 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	USSG	Difference
Sharpe ratio Return per unit of total volatility	2.57	2.14	+0.43
Sortino ratio Return per unit of downside risk	3.27	3.00	+0.26
Omega ratio Gain probability vs. loss probability	1.42	1.38	+0.05
Calmar ratio Return relative to maximum drawdown	4.13	2.50	+1.63
Martin ratio Return relative to average drawdown	13.72	10.72	+3.00
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. USSG - Sharpe Ratio Comparison

The current ASHS Sharpe Ratio is 2.57, which is comparable to the USSG Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of ASHS and USSG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ASHS	USSG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	2.14	+0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.79	-0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.13	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.84	-0.65

Drawdowns

ASHS vs. USSG - Drawdown Comparison

The maximum ASHS drawdown since its inception was -69.90%, which is greater than USSG's maximum drawdown of -34.10%. Use the drawdown chart below to compare losses from any high point for ASHS and USSG.

Drawdown Indicators

	ASHS	USSG	Difference
Max Drawdown Largest peak-to-trough decline	-69.90%	-34.10%	-35.80%
Max Drawdown (1Y) Largest decline over 1 year	-14.03%	-11.20%	-2.83%
Max Drawdown (3Y) Largest decline over 3 years	-34.13%	-20.00%	-14.13%
Max Drawdown (5Y) Largest decline over 5 years	-47.81%	-27.00%	-20.81%
Max Drawdown (10Y) Largest decline over 10 years	-47.81%	—	—
Current Drawdown Current decline from peak	-33.57%	-1.21%	-32.36%
Average Drawdown Average peak-to-trough decline	-48.57%	-5.60%	-42.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.21%	2.61%	+1.60%

Volatility

ASHS vs. USSG - Volatility Comparison

Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) has a higher volatility of 7.33% compared to Xtrackers MSCI USA ESG Leaders Equity ETF (USSG) at 3.77%. This indicates that ASHS's price experiences larger fluctuations and is considered to be riskier than USSG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASHS	USSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.33%	3.77%	+3.56%
Volatility (6M) Calculated over the trailing 6-month period	17.00%	10.04%	+6.96%
Volatility (1Y) Calculated over the trailing 1-year period	22.59%	13.12%	+9.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.46%	17.59%	+8.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.57%	20.16%	+5.41%

ASHS vs. USSG - Expense Ratio Comparison

ASHS has a 0.65% expense ratio, which is higher than USSG's 0.10% expense ratio.

Dividends

ASHS vs. USSG - Dividend Comparison

ASHS has not paid dividends to shareholders, while USSG's dividend yield for the trailing twelve months is around 0.95%.

Position	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%
USSG Xtrackers MSCI USA ESG Leaders Equity ETF	0.95%	1.02%	1.13%	1.60%	1.52%	1.13%	1.42%	1.21%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ASHS and USSG in my portfolio?

ASHS and USSG have a correlation of 0.32, 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 USSG?

ASHS has higher volatility (7.33%) compared to USSG (3.77%). In terms of maximum drawdown, ASHS dropped -69.90% vs USSG's -34.10%.

Which ETF is better, ASHS or USSG?

On 5-year performance, USSG leads with 13.79% vs 3.97% for ASHS. On fees, USSG is cheaper at 0.10% per year. On volatility, USSG has been the lower-risk option at 3.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ASHS or USSG?

Over the 5-year period, USSG has performed better with a 13.79% return vs 3.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ASHS or USSG?

USSG is cheaper with a 0.10% expense ratio, compared with 0.65% for ASHS.

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

USSG has the higher dividend yield at 0.95%, compared with 0.00% for ASHS.

What is the main difference between ASHS and USSG?

ASHS is categorized as China Equities, while USSG is Large Cap Growth Equities. ASHS tracks CSI 500 Index, while USSG tracks MSCI USA ESG Leaders. Their fees differ too: 0.65% for ASHS and 0.10% for USSG.

Which has better risk-adjusted returns?

ASHS currently has the higher Sharpe Ratio (2.57 vs 2.14), 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.