CAS vs. ASHS

Last updated Jul 12, 2026

CAS (Simplify China A Shares PLUS Income ETF) and ASHS (Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF) are both China Equities funds. CAS is actively managed, while ASHS is passively managed. Their correlation of 0.93 suggests significant overlap in exposure. CAS charges 0.88%/yr vs 0.65%/yr for ASHS.

Performance

CAS vs. ASHS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify China A Shares PLUS Income ETF (CAS) and Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CAS

• 1D: -0.94%
• 1M: 2.69%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASHS

• 1D: -1.32%
• 1M: 4.92%
• 6M: 9.40%
• YTD: 18.49%
• 1Y: 52.16%
• 3Y*: 15.40%
• 5Y*: 4.44%
• 10Y*: 3.15%

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

CAS vs. ASHS - Yearly Performance Comparison

	2026 (YTD)
CAS Simplify China A Shares PLUS Income ETF	-1.43%
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF	0.96%

Correlation

The correlation between CAS and ASHS is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.93

CAS vs. ASHS - Sectors Allocation Comparison

Sectors	CAS	ASHS
Financial Services	40.5%	5.5%
Basic Materials	-	16.1%
Communication Services	-	1.1%
Consumer Cyclical	-	5.0%
Consumer Defensive	-	1.7%
Energy	-	2.0%
Healthcare	-	6.5%
Industrials	-	18.4%
Real Estate	-	0.5%
Technology	-	34.4%
Utilities	-	2.1%

Return for Risk

CAS vs. ASHS — Risk / Return Rank

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

CAS

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

ASHS

ASHS Risk / Return Rank: 81
ASHS Sharpe Ratio Rank: 85
ASHS Sortino Ratio Rank: 80
ASHS Omega Ratio Rank: 77
ASHS Calmar Ratio Rank: 86
ASHS Martin Ratio Rank: 77

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.

CAS vs. ASHS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify China A Shares PLUS Income ETF (CAS) and Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS). 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.

	CAS	ASHS	Difference
Sharpe ratio: Return per unit of total volatility	—	2.18	—
Sortino ratio: Return per unit of downside risk	—	2.83	—
Omega ratio: Gain probability vs. loss probability	—	1.36	—
Calmar ratio: Return relative to maximum drawdown	—	3.80	—
Martin ratio: Return relative to average drawdown	—	11.60	—

Drawdowns

CAS vs. ASHS - Drawdown Comparison

The maximum CAS drawdown since its inception was -7.26%, smaller than the maximum ASHS drawdown of -69.90%. Use the drawdown chart below to compare losses from any high point for CAS and ASHS.

Drawdown Indicators

	CAS	ASHS	Difference
Max Drawdown Largest peak-to-trough decline	-7.26%	-69.90%	+62.64%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.03%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-34.13%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-47.81%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-47.81%	—
Current Drawdown Current decline from peak	-4.94%	-31.61%	+26.67%
Average Drawdown Average peak-to-trough decline	-2.90%	-48.42%	+45.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.58%	—

Volatility

Volatility by Period

	CAS	ASHS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.69%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	30.04%	24.39%	+5.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.04%	26.76%	+3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.04%	25.69%	+4.35%

CAS vs. ASHS - Expense Ratio Comparison

CAS has a 0.88% expense ratio, which is higher than ASHS's 0.65% expense ratio.

Dividends

CAS vs. ASHS - Dividend Comparison

CAS's dividend yield for the trailing twelve months is around 0.36%, while ASHS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF	0.00%	0.00%	0.69%	0.65%	1.90%	0.76%	0.43%	0.57%	0.00%	0.00%	0.00%	8.34%
CAS Simplify China A Shares PLUS Income ETF	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CAS and ASHS in my portfolio?

With a correlation of 0.93, CAS and ASHS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, CAS or ASHS?

On fees, ASHS is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CAS or ASHS?

ASHS is cheaper with a 0.65% expense ratio, compared with 0.88% for CAS.

Which ETF pays a higher dividend yield, CAS or ASHS?

CAS has the higher dividend yield at 0.36%, compared with 0.00% for ASHS.

What is the main difference between CAS and ASHS?

They also come from different issuers: Simplify and Deutsche Bank. Their fees differ too: 0.88% for CAS and 0.65% for ASHS.