ASHX vs. HYDW

Last updated Jul 14, 2026

ASHX (Xtrackers MSCI China A Inclusion Equity ETF) and HYDW (Xtrackers Low Beta High Yield Bond ETF) are both exchange-traded funds - ASHX is a China Equities fund tracking the MSCI China A Inclusion Index, while HYDW is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market Low Beta Index. Both are passively managed. At a 0.27 correlation, their price movements are largely independent. ASHX charges 0.60%/yr vs 0.20%/yr for HYDW.

Performance

ASHX vs. HYDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI China A Inclusion Equity ETF (ASHX) and Xtrackers Low Beta High Yield Bond ETF (HYDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ASHX

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

HYDW

• 1D: -0.17%
• 1M: 0.16%
• 6M: 1.17%
• YTD: 1.35%
• 1Y: 5.17%
• 3Y*: 6.86%
• 5Y*: 3.45%
• 10Y*: —

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

ASHX vs. HYDW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ASHX Xtrackers MSCI China A Inclusion Equity ETF	0.00%	0.00%	0.27%	-13.59%	-26.45%	2.64%	42.24%	35.03%	-30.38%
HYDW Xtrackers Low Beta High Yield Bond ETF	1.35%	8.47%	5.42%	9.84%	-7.86%	2.77%	5.51%	11.44%	-1.15%

Correlation

The correlation between ASHX and HYDW is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018	0.27

The correlation between ASHX and HYDW shifts across timeframes, from 0.11 (3 years) to 0.27 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ASHX vs. HYDW — Risk / Return Rank

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

ASHX

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

HYDW

HYDW Risk / Return Rank: 73
HYDW Sharpe Ratio Rank: 70
HYDW Sortino Ratio Rank: 78
HYDW Omega Ratio Rank: 77
HYDW Calmar Ratio Rank: 63
HYDW Martin Ratio Rank: 79

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. HYDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI China A Inclusion Equity ETF (ASHX) and Xtrackers Low Beta High Yield Bond ETF (HYDW). 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.

	ASHX	HYDW	Difference
Sharpe ratio: Return per unit of total volatility	—	1.79	—
Sortino ratio: Return per unit of downside risk	—	2.76	—
Omega ratio: Gain probability vs. loss probability	—	1.36	—
Calmar ratio: Return relative to maximum drawdown	—	2.48	—
Martin ratio: Return relative to average drawdown	—	11.95	—

Drawdowns

Drawdown Indicators

	ASHX	HYDW	Difference
Max Drawdown Largest peak-to-trough decline	—	-17.75%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-2.09%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.54%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-12.68%	—
Current Drawdown Current decline from peak	—	-0.32%	—
Average Drawdown Average peak-to-trough decline	—	-1.87%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.43%	—

Volatility

Volatility by Period

	ASHX	HYDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.58%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.29%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	2.91%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	6.41%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	6.95%	—

ASHX vs. HYDW - Expense Ratio Comparison

ASHX has a 0.60% expense ratio, which is higher than HYDW's 0.20% expense ratio.

Dividends

ASHX vs. HYDW - Dividend Comparison

ASHX has not paid dividends to shareholders, while HYDW's dividend yield for the trailing twelve months is around 5.75%.

Position	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%
HYDW Xtrackers Low Beta High Yield Bond ETF	5.75%	5.75%	5.35%	5.69%	4.78%	3.30%	4.45%	4.56%	4.42%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ASHX and HYDW in my portfolio?

ASHX and HYDW have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ASHX or HYDW?

On fees, HYDW is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ASHX or HYDW?

HYDW is cheaper with a 0.20% expense ratio, compared with 0.60% for ASHX.

Which ETF pays a higher dividend yield, ASHX or HYDW?

HYDW has the higher dividend yield at 5.75%, compared with 0.00% for ASHX.

What is the main difference between ASHX and HYDW?

ASHX is categorized as China Equities, while HYDW is High Yield Bonds. ASHX tracks MSCI China A Inclusion Index, while HYDW tracks Solactive USD High Yield Corporates Total Market Low Beta Index. Their fees differ too: 0.60% for ASHX and 0.20% for HYDW.