CNXT vs. ASHX

Last updated Jun 4, 2026

CNXT (VanEck Vectors ChinaAMC SME-ChiNext ETF) and ASHX (Xtrackers MSCI China A Inclusion Equity ETF) are both China Equities funds - CNXT tracks the SME-ChiNext 100 Index while ASHX tracks the MSCI China A Inclusion Index. Both are passively managed. A 0.65 correlation means they provide meaningful diversification when combined. CNXT charges 0.65%/yr vs 0.60%/yr for ASHX.

Performance

CNXT vs. ASHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT) and Xtrackers MSCI China A Inclusion Equity ETF (ASHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CNXT

• 1D: 0.88%
• 1M: 10.51%
• YTD: 33.52%
• 6M: 41.38%
• 1Y: 119.62%
• 3Y*: 26.28%
• 5Y*: 4.09%
• 10Y*: 6.63%

ASHX

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

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

CNXT vs. ASHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF	33.52%	59.31%	12.42%	-21.47%	-35.58%	8.78%	63.30%	42.66%	-39.48%	20.19%
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%	20.14%

Correlation

The correlation between CNXT and ASHX is 0.65, 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	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Oct 21, 2015	0.65

The correlation between CNXT and ASHX shifts across timeframes, from 0.36 (3 years) to 0.65 (10 years), reflecting how their relationship changes across market environments.

CNXT vs. ASHX - Sectors Allocation Comparison

Sectors	CNXT	ASHX
Technology	43.8%	14.1%
Industrials	33.2%	16.0%
Healthcare	7.0%	7.9%
Financial Services	5.6%	19.6%
Basic Materials	4.1%	9.6%
Consumer Defensive	2.6%	14.3%
Communication Services	2.5%	1.5%
Consumer Cyclical	1.2%	7.1%
Energy	-	4.2%
Real Estate	-	1.4%
Utilities	-	4.3%

Return for Risk

CNXT vs. ASHX — Risk / Return Rank

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

CNXT

CNXT Risk / Return Rank: 93
CNXT Sharpe Ratio Rank: 95
CNXT Sortino Ratio Rank: 92
CNXT Omega Ratio Rank: 89
CNXT Calmar Ratio Rank: 96
CNXT Martin Ratio Rank: 95

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.

CNXT vs. ASHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors ChinaAMC SME-ChiNext ETF (CNXT) and Xtrackers MSCI China A Inclusion Equity ETF (ASHX). 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.

	CNXT	ASHX	Difference
Sharpe ratio: Return per unit of total volatility	3.92	—	—
Sortino ratio: Return per unit of downside risk	4.53	—	—
Omega ratio: Gain probability vs. loss probability	1.57	—	—
Calmar ratio: Return relative to maximum drawdown	9.85	—	—
Martin ratio: Return relative to average drawdown	30.18	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CNXT	ASHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.92	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	—	—

Drawdowns

Drawdown Indicators

	CNXT	ASHX	Difference
Max Drawdown Largest peak-to-trough decline	-68.98%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-12.21%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-48.60%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-61.21%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-63.30%	—	—
Current Drawdown Current decline from peak	-2.15%	—	—
Average Drawdown Average peak-to-trough decline	-42.94%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.98%	—	—

Volatility

Volatility by Period

	CNXT	ASHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.24%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	30.74%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.27%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.64%	—	—

CNXT vs. ASHX - Expense Ratio Comparison

CNXT has a 0.65% expense ratio, which is higher than ASHX's 0.60% expense ratio.

Dividends

CNXT vs. ASHX - Dividend Comparison

CNXT's dividend yield for the trailing twelve months is around 0.13%, while ASHX has not paid dividends to shareholders.

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%
CNXT VanEck Vectors ChinaAMC SME-ChiNext ETF	0.13%	0.18%	0.15%	0.00%	0.00%	9.22%	0.01%	0.45%	0.00%	0.19%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CNXT and ASHX in my portfolio?

CNXT and ASHX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CNXT or ASHX?

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, CNXT or ASHX?

ASHX is cheaper with a 0.60% expense ratio, compared with 0.65% for CNXT.

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

CNXT has the higher dividend yield at 0.13%, compared with 0.00% for ASHX.

What is the main difference between CNXT and ASHX?

CNXT tracks SME-ChiNext 100 Index, while ASHX tracks MSCI China A Inclusion Index. They also come from different issuers: VanEck and Deutsche Bank. Their fees differ too: 0.65% for CNXT and 0.60% for ASHX.