ASHS vs. VBIL

Last updated Jun 4, 2026

ASHS (Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF) and VBIL (Vanguard 0-3 Month Treasury Bill ETF) are both exchange-traded funds - ASHS is a China Equities fund tracking the CSI 500 Index, while VBIL is a Ultrashort Bond fund tracking the Bloomberg US Treasury Bills 0-3 Months Index. Both are passively managed. Over the past year, ASHS returned 57.65% vs 3.93% for VBIL. At a correlation of -0.12, they often move in opposite directions. ASHS charges 0.65%/yr vs 0.07%/yr for VBIL.

Performance

ASHS vs. VBIL - 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 Vanguard 0-3 Month Treasury Bill ETF (VBIL). 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 VBIL's 1.50% 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%

VBIL

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.50%
• 6M: 1.80%
• 1Y: 3.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ASHS vs. VBIL - Yearly Performance Comparison

	2026 (YTD)	2025
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF	15.10%	34.91%
VBIL Vanguard 0-3 Month Treasury Bill ETF	1.50%	3.71%

Correlation

The correlation between ASHS and VBIL is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (All Time) Calculated using the full available price history since Feb 12, 2025	-0.12

Return for Risk

ASHS vs. VBIL — 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

VBIL

VBIL Risk / Return Rank: 100
VBIL Sharpe Ratio Rank: 100
VBIL Sortino Ratio Rank: 100
VBIL Omega Ratio Rank: 100
VBIL Calmar Ratio Rank: 99
VBIL Martin Ratio Rank: 100

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. VBIL - 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 Vanguard 0-3 Month Treasury Bill ETF (VBIL). 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	VBIL	Difference
Sharpe ratio: Return per unit of total volatility	2.57	15.17	-12.60
Sortino ratio: Return per unit of downside risk	3.27	39.11	-35.84
Omega ratio: Gain probability vs. loss probability	1.42	21.10	-19.68
Calmar ratio: Return relative to maximum drawdown	4.13	42.61	-38.48
Martin ratio: Return relative to average drawdown	13.72	532.54	-518.81
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. VBIL - Sharpe Ratio Comparison

The current ASHS Sharpe Ratio is 2.57, which is lower than the VBIL Sharpe Ratio of 15.17. The chart below compares the historical Sharpe Ratios of ASHS and VBIL, 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	VBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	15.17	-12.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	—	—
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	13.44	-13.25

Drawdowns

ASHS vs. VBIL - Drawdown Comparison

The maximum ASHS drawdown since its inception was -69.90%, which is greater than VBIL's maximum drawdown of -0.09%. Use the drawdown chart below to compare losses from any high point for ASHS and VBIL.

Drawdown Indicators

	ASHS	VBIL	Difference
Max Drawdown Largest peak-to-trough decline	-69.90%	-0.09%	-69.81%
Max Drawdown (1Y) Largest decline over 1 year	-14.03%	-0.09%	-13.94%
Max Drawdown (3Y) Largest decline over 3 years	-34.13%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-47.81%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.81%	—	—
Current Drawdown Current decline from peak	-33.57%	0.00%	-33.57%
Average Drawdown Average peak-to-trough decline	-48.57%	-0.00%	-48.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.21%	0.01%	+4.20%

Volatility

ASHS vs. VBIL - Volatility Comparison

Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) has a higher volatility of 7.33% compared to Vanguard 0-3 Month Treasury Bill ETF (VBIL) at 0.06%. This indicates that ASHS's price experiences larger fluctuations and is considered to be riskier than VBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASHS	VBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.33%	0.06%	+7.27%
Volatility (6M) Calculated over the trailing 6-month period	17.00%	0.16%	+16.84%
Volatility (1Y) Calculated over the trailing 1-year period	22.59%	0.26%	+22.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.46%	0.30%	+26.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.57%	0.30%	+25.27%

ASHS vs. VBIL - Expense Ratio Comparison

ASHS has a 0.65% expense ratio, which is higher than VBIL's 0.07% expense ratio.

Dividends

ASHS vs. VBIL - Dividend Comparison

ASHS has not paid dividends to shareholders, while VBIL's dividend yield for the trailing twelve months is around 3.65%.

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%
VBIL Vanguard 0-3 Month Treasury Bill ETF	3.65%	3.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ASHS and VBIL in my portfolio?

ASHS and VBIL have a correlation of -0.10, 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 VBIL?

ASHS has higher volatility (7.33%) compared to VBIL (0.06%). In terms of maximum drawdown, ASHS dropped -69.90% vs VBIL's -0.09%.

Which ETF is better, ASHS or VBIL?

On 1-year performance, ASHS leads with 57.65% vs 3.93% for VBIL. On fees, VBIL is cheaper at 0.07% per year. On volatility, VBIL has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ASHS or VBIL?

Over the 1-year period, ASHS has performed better with a 57.65% return vs 3.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ASHS or VBIL?

VBIL is cheaper with a 0.07% expense ratio, compared with 0.65% for ASHS.

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

VBIL has the higher dividend yield at 3.65%, compared with 0.00% for ASHS.

What is the main difference between ASHS and VBIL?

ASHS is categorized as China Equities, while VBIL is Ultrashort Bond. ASHS tracks CSI 500 Index, while VBIL tracks Bloomberg US Treasury Bills 0-3 Months Index. They also come from different issuers: Deutsche Bank and Vanguard. Their fees differ too: 0.65% for ASHS and 0.07% for VBIL.

Which has better risk-adjusted returns?

VBIL currently has the higher Sharpe Ratio (15.17 vs 2.57), 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.