ASHX vs. MCHS

Last updated Apr 1, 2026

Compare and contrast key facts about Xtrackers MSCI China A Inclusion Equity ETF (ASHX) and Matthews China Discovery Active ETF (MCHS).

ASHX and MCHS 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. MCHS is an actively managed fund by Matthews. It was launched on Jan 10, 2024.

Performance

ASHX vs. MCHS - Performance Comparison

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

ASHX vs. MCHS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ASHX Xtrackers MSCI China A Inclusion Equity ETF	0.00%	0.00%	6.37%
MCHS Matthews China Discovery Active ETF	10.80%	31.19%	6.53%

Returns By Period

ASHX

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

MCHS

• 1D: -0.59%
• 1M: -10.87%
• YTD: 10.80%
• 6M: 7.16%
• 1Y: 32.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ASHX vs. MCHS - Expense Ratio Comparison

ASHX has a 0.60% expense ratio, which is lower than MCHS's 0.89% expense ratio.

MCHS

Matthews China Discovery Active ETF

ASHX

Xtrackers MSCI China A Inclusion Equity ETF

Return for Risk

ASHX vs. MCHS — Risk / Return Rank

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

MCHS

MCHS Risk / Return Rank: 72
MCHS Sharpe Ratio Rank: 71
MCHS Sortino Ratio Rank: 72
MCHS Omega Ratio Rank: 72
MCHS Calmar Ratio Rank: 76
MCHS Martin Ratio Rank: 72

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. MCHS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI China A Inclusion Equity ETF (ASHX) and Matthews China Discovery Active ETF (MCHS). 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	MCHS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.79	—

Correlation

The correlation between ASHX and MCHS is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ASHX vs. MCHS - Dividend Comparison

ASHX has not paid dividends to shareholders, while MCHS's dividend yield for the trailing twelve months is around 3.22%.

	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%
MCHS Matthews China Discovery Active ETF	3.22%	3.56%	5.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	ASHX	MCHS	Difference
Max Drawdown Largest peak-to-trough decline	—	-23.75%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-15.89%	—
Current Drawdown Current decline from peak	—	-11.50%	—
Average Drawdown Average peak-to-trough decline	—	-7.98%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.30%	—

Volatility

Volatility by Period

	ASHX	MCHS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.15%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	25.64%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	27.86%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	27.86%	—