ASHX vs. GXC

Last updated Apr 1, 2026

Compare and contrast key facts about Xtrackers MSCI China A Inclusion Equity ETF (ASHX) and SPDR S&P China ETF (GXC).

ASHX and GXC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ASHX is a passively managed fund by Deutsche Bank that tracks the performance of the MSCI China A Inclusion Index. It was launched on Oct 20, 2015. GXC is a passively managed fund by State Street that tracks the performance of the S&P China BMI Index. It was launched on Mar 19, 2007. Both ASHX and GXC 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

ASHX vs. GXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI China A Inclusion Equity ETF (ASHX) and SPDR S&P China ETF (GXC). The values are adjusted to include any dividend payments, if applicable.

ASHX vs. GXC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASHX Xtrackers MSCI China A Inclusion Equity ETF	0.00%	0.00%	0.27%	-13.59%	-26.45%	2.64%	42.24%	35.03%	-27.51%	20.14%
GXC SPDR S&P China ETF	-3.81%	30.84%	14.60%	-9.93%	-22.12%	-19.70%	28.31%	23.07%	-19.39%	51.66%

Returns By Period

ASHX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

GXC

• 1D: 2.12%
• 1M: -5.26%
• YTD: -3.81%
• 6M: -10.09%
• 1Y: 11.04%
• 3Y*: 7.34%
• 5Y*: -4.55%
• 10Y*: 5.19%

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

ASHX vs. GXC - Expense Ratio Comparison

ASHX has a 0.60% expense ratio, which is higher than GXC's 0.59% expense ratio.

ASHX

Xtrackers MSCI China A Inclusion Equity ETF

GXC

SPDR S&P China ETF

Return for Risk

ASHX vs. GXC — Risk / Return Rank

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

GXC

GXC Risk / Return Rank: 29
GXC Sharpe Ratio Rank: 29
GXC Sortino Ratio Rank: 29
GXC Omega Ratio Rank: 29
GXC Calmar Ratio Rank: 29
GXC Martin Ratio Rank: 27

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.

ASHX vs. GXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI China A Inclusion Equity ETF (ASHX) and SPDR S&P China ETF (GXC). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ASHX	GXC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.49	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.16	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.20	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.16	—

Correlation

The correlation between ASHX and GXC is 0.58, 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

ASHX vs. GXC - Dividend Comparison

ASHX has not paid dividends to shareholders, while GXC's dividend yield for the trailing twelve months is around 2.50%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASHX Xtrackers MSCI China A Inclusion Equity ETF	0.00%	0.00%	0.00%	2.38%	1.76%	0.84%	0.80%	1.78%	1.07%	2.48%	19.46%	2.91%
GXC SPDR S&P China ETF	2.50%	2.40%	2.81%	3.70%	2.67%	1.35%	1.04%	1.60%	2.03%	1.84%	2.05%	2.85%

Drawdowns

Drawdown Indicators

	ASHX	GXC	Difference
Max Drawdown Largest peak-to-trough decline	—	-71.96%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-16.56%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-54.30%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-60.23%	—
Current Drawdown Current decline from peak	—	-32.02%	—
Average Drawdown Average peak-to-trough decline	—	-28.81%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.20%	—

Volatility

Volatility by Period

	ASHX	GXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.79%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.72%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	22.59%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	28.94%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	26.08%	—