ASHX vs. KCAI

Last updated Jun 23, 2026

ASHX (Xtrackers MSCI China A Inclusion Equity ETF) and KCAI (KraneShares China Alpha Index ETF) are both China Equities funds - ASHX tracks the MSCI China A Inclusion Index while KCAI tracks the Qi China Alpha Index. Both are passively managed. ASHX charges 0.60%/yr vs 0.79%/yr for KCAI.

Performance

ASHX vs. KCAI - Performance Comparison

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

Returns By Period

ASHX

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

KCAI

• 1D: 1.90%
• 1M: 2.49%
• YTD: 7.28%
• 6M: 8.32%
• 1Y: 50.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ASHX vs. KCAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ASHX Xtrackers MSCI China A Inclusion Equity ETF	0.00%	0.00%	0.00%
KCAI KraneShares China Alpha Index ETF	7.28%	53.29%	11.36%

ASHX vs. KCAI - Sectors Allocation Comparison

Sectors	ASHX	KCAI
Financial Services	19.6%	39.0%
Industrials	16.0%	23.6%
Consumer Defensive	14.3%	-
Technology	14.1%	13.2%
Basic Materials	9.6%	11.3%
Healthcare	7.9%	1.3%
Consumer Cyclical	7.1%	11.5%
Utilities	4.3%	-
Energy	4.2%	-
Communication Services	1.5%	-
Real Estate	1.4%	-

Return for Risk

ASHX vs. KCAI — 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.

KCAI

KCAI Risk / Return Rank: 96
KCAI Sharpe Ratio Rank: 96
KCAI Sortino Ratio Rank: 96
KCAI Omega Ratio Rank: 94
KCAI Calmar Ratio Rank: 98
KCAI Martin Ratio Rank: 96

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. KCAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI China A Inclusion Equity ETF (ASHX) and KraneShares China Alpha Index ETF (KCAI). 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	KCAI	Difference
Sharpe ratio: Return per unit of total volatility	—	3.80	—
Sortino ratio: Return per unit of downside risk	—	5.39	—
Omega ratio: Gain probability vs. loss probability	—	1.67	—
Calmar ratio: Return relative to maximum drawdown	—	12.08	—
Martin ratio: Return relative to average drawdown	—	34.38	—

Drawdowns

Drawdown Indicators

	ASHX	KCAI	Difference
Max Drawdown Largest peak-to-trough decline	—	-25.48%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-4.23%	—
Current Drawdown Current decline from peak	—	-1.65%	—
Average Drawdown Average peak-to-trough decline	—	-7.02%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.48%	—

Volatility

Volatility by Period

	ASHX	KCAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.13%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	13.47%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	21.01%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	21.01%	—

ASHX vs. KCAI - Expense Ratio Comparison

ASHX has a 0.60% expense ratio, which is lower than KCAI's 0.79% expense ratio.

Dividends

ASHX vs. KCAI - Dividend Comparison

ASHX has not paid dividends to shareholders, while KCAI's dividend yield for the trailing twelve months is around 33.02%.

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%
KCAI KraneShares China Alpha Index ETF	33.02%	35.42%	2.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, ASHX or KCAI?

On fees, ASHX is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ASHX or KCAI?

ASHX is cheaper with a 0.60% expense ratio, compared with 0.79% for KCAI.

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

KCAI has the higher dividend yield at 33.02%, compared with 0.00% for ASHX.

What is the main difference between ASHX and KCAI?

ASHX tracks MSCI China A Inclusion Index, while KCAI tracks Qi China Alpha Index. They also come from different issuers: Deutsche Bank and KraneShares. Their fees differ too: 0.60% for ASHX and 0.79% for KCAI.