ASHX vs. KGRN

Last updated Jun 23, 2026

ASHX (Xtrackers MSCI China A Inclusion Equity ETF) and KGRN (KraneShares MSCI China Clean Technology Index ETF) are both China Equities funds - ASHX tracks the MSCI China A Inclusion Index while KGRN tracks the MSCI China IMI Environment 10/40 Index. Both are passively managed. A 0.53 correlation means they provide meaningful diversification when combined. ASHX charges 0.60%/yr vs 0.79%/yr for KGRN.

Performance

ASHX vs. KGRN - 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 MSCI China Clean Technology Index ETF (KGRN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ASHX

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

KGRN

• 1D: 0.76%
• 1M: -8.44%
• YTD: -8.65%
• 6M: -10.18%
• 1Y: -1.72%
• 3Y*: -0.90%
• 5Y*: -10.86%
• 10Y*: —

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

ASHX vs. KGRN - 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%	3.06%
KGRN KraneShares MSCI China Clean Technology Index ETF	-8.65%	21.45%	-1.11%	-14.75%	-40.45%	5.91%	138.49%	12.12%	-29.32%	-0.37%

Correlation

The correlation between ASHX and KGRN is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Oct 13, 2017	0.53

The correlation between ASHX and KGRN shifts across timeframes, from 0.36 (3 years) to 0.53 (all time), reflecting how their relationship changes across market environments.

ASHX vs. KGRN - Sectors Allocation Comparison

Sectors	ASHX	KGRN
Financial Services	19.6%	-
Industrials	16.0%	26.9%
Consumer Defensive	14.3%	-
Technology	14.1%	11.6%
Basic Materials	9.6%	-
Healthcare	7.9%	-
Consumer Cyclical	7.1%	36.2%
Utilities	4.3%	21.2%
Energy	4.2%	3.4%
Communication Services	1.5%	-
Real Estate	1.4%	-

Return for Risk

ASHX vs. KGRN — 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.

KGRN

KGRN Risk / Return Rank: 8
KGRN Sharpe Ratio Rank: 8
KGRN Sortino Ratio Rank: 8
KGRN Omega Ratio Rank: 8
KGRN Calmar Ratio Rank: 8
KGRN Martin Ratio Rank: 8

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. KGRN - 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 MSCI China Clean Technology Index ETF (KGRN). 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	KGRN	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.07	—
Sortino ratio: Return per unit of downside risk	—	0.06	—
Omega ratio: Gain probability vs. loss probability	—	1.01	—
Calmar ratio: Return relative to maximum drawdown	—	-0.07	—
Martin ratio: Return relative to average drawdown	—	-0.16	—

Drawdowns

Drawdown Indicators

	ASHX	KGRN	Difference
Max Drawdown Largest peak-to-trough decline	—	-66.24%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-24.11%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-42.19%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-63.60%	—
Current Drawdown Current decline from peak	—	-52.16%	—
Average Drawdown Average peak-to-trough decline	—	-34.03%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.07%	—

Volatility

Volatility by Period

	ASHX	KGRN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.53%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.89%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	23.48%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	34.65%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	32.82%	—

ASHX vs. KGRN - Expense Ratio Comparison

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

Dividends

ASHX vs. KGRN - Dividend Comparison

ASHX has not paid dividends to shareholders, while KGRN's dividend yield for the trailing twelve months is around 0.94%.

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%
KGRN KraneShares MSCI China Clean Technology Index ETF	0.94%	0.85%	1.49%	0.74%	1.98%	0.41%	0.01%	5.88%	2.04%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ASHX and KGRN in my portfolio?

ASHX and KGRN have a correlation of 0.53, 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 KGRN?

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 KGRN?

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

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

KGRN has the higher dividend yield at 0.94%, compared with 0.00% for ASHX.

What is the main difference between ASHX and KGRN?

ASHX tracks MSCI China A Inclusion Index, while KGRN tracks MSCI China IMI Environment 10/40 Index. They also come from different issuers: Deutsche Bank and CICC. Their fees differ too: 0.60% for ASHX and 0.79% for KGRN.