CAS vs. ASHS

Last updated Jun 23, 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. A 0.69 correlation means they provide meaningful diversification when combined. 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: -1.70%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASHS

• 1D: 2.15%
• 1M: 4.69%
• YTD: 23.25%
• 6M: 27.23%
• 1Y: 69.26%
• 3Y*: 17.55%
• 5Y*: 5.45%
• 10Y*: 4.33%

*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	-5.11%
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF	7.08%

Correlation

The correlation between CAS and ASHS is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 4, 2026	0.69

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: 86
ASHS Sharpe Ratio Rank: 91
ASHS Sortino Ratio Rank: 86
ASHS Omega Ratio Rank: 84
ASHS Calmar Ratio Rank: 88
ASHS Martin Ratio Rank: 81

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	—	3.01	—
Sortino ratio: Return per unit of downside risk	—	3.71	—
Omega ratio: Gain probability vs. loss probability	—	1.48	—
Calmar ratio: Return relative to maximum drawdown	—	4.96	—
Martin ratio: Return relative to average drawdown	—	15.51	—

Drawdowns

CAS vs. ASHS - Drawdown Comparison

The maximum CAS drawdown since its inception was -5.11%, 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	-5.11%	-69.90%	+64.79%
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	-5.11%	-28.86%	+23.75%
Average Drawdown Average peak-to-trough decline	-3.16%	-48.49%	+45.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.48%	—

Volatility

Volatility by Period

	CAS	ASHS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.65%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.69%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.51%	23.19%	-9.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.51%	26.57%	-13.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.51%	25.60%	-12.09%

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

Neither CAS nor ASHS has 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	0.00%	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?

CAS and ASHS have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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 and ASHS have nearly identical dividend yields, around 0.00%.

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.