DEEF vs. ASHS

Last updated Jun 4, 2026

DEEF (Xtrackers FTSE Developed ex US Multifactor ETF) and ASHS (Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF) are both exchange-traded funds - DEEF is a Foreign Large Cap Equities fund tracking the FTSE Developed ex US Comprehensive Factor Net Tax (US RIC) Index, while ASHS is a China Equities fund tracking the CSI 500 Index. Both are passively managed. Over the past 10 years, DEEF returned 8.28%/yr vs 3.27%/yr for ASHS. At a 0.36 correlation, their price movements are largely independent. DEEF charges 0.24%/yr vs 0.65%/yr for ASHS.

Performance

DEEF vs. ASHS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers FTSE Developed ex US Multifactor ETF (DEEF) 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

In the year-to-date period, DEEF achieves a 10.24% return, which is significantly lower than ASHS's 15.10% return. Over the past 10 years, DEEF has outperformed ASHS with an annualized return of 8.28%, while ASHS has yielded a comparatively lower 3.27% annualized return.

DEEF

• 1D: -0.08%
• 1M: 2.38%
• YTD: 10.24%
• 6M: 13.08%
• 1Y: 23.80%
• 3Y*: 17.65%
• 5Y*: 7.51%
• 10Y*: 8.28%

ASHS

• 1D: -0.17%
• 1M: -0.19%
• YTD: 15.10%
• 6M: 23.90%
• 1Y: 57.65%
• 3Y*: 13.41%
• 5Y*: 3.97%
• 10Y*: 3.27%

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

DEEF vs. ASHS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DEEF Xtrackers FTSE Developed ex US Multifactor ETF	10.24%	32.36%	2.77%	16.99%	-16.94%	9.22%	7.90%	19.30%	-14.50%	29.23%
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF	15.10%	39.48%	2.68%	-10.03%	-24.78%	17.66%	28.22%	24.53%	-35.91%	7.90%

Correlation

The correlation between DEEF and ASHS is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Nov 25, 2015	0.36

DEEF vs. ASHS - Sectors Allocation Comparison

Sectors	DEEF	ASHS
Industrials	23.4%	19.7%
Financial Services	14.2%	6.3%
Consumer Cyclical	10.8%	5.8%
Consumer Defensive	9.7%	2.6%
Basic Materials	9.6%	19.4%
Utilities	6.8%	2.2%
Real Estate	5.4%	0.7%
Energy	4.9%	3.2%
Technology	4.8%	29.8%
Healthcare	4.4%	7.2%
Communication Services	4.2%	3.2%

Return for Risk

DEEF vs. ASHS — Risk / Return Rank

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

DEEF

DEEF Risk / Return Rank: 49
DEEF Sharpe Ratio Rank: 52
DEEF Sortino Ratio Rank: 50
DEEF Omega Ratio Rank: 52
DEEF Calmar Ratio Rank: 46
DEEF Martin Ratio Rank: 47

ASHS

ASHS Risk / Return Rank: 74
ASHS Sharpe Ratio Rank: 78
ASHS Sortino Ratio Rank: 71
ASHS Omega Ratio Rank: 70
ASHS Calmar Ratio Rank: 80
ASHS Martin Ratio Rank: 73

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.

DEEF vs. ASHS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers FTSE Developed ex US Multifactor ETF (DEEF) 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.

	DEEF	ASHS	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.57	-0.80
Sortino ratio: Return per unit of downside risk	2.43	3.27	-0.84
Omega ratio: Gain probability vs. loss probability	1.32	1.42	-0.10
Calmar ratio: Return relative to maximum drawdown	2.25	4.13	-1.88
Martin ratio: Return relative to average drawdown	7.82	13.72	-5.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DEEF vs. ASHS - Sharpe Ratio Comparison

The current DEEF Sharpe Ratio is 1.77, which is lower than the ASHS Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of DEEF and ASHS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DEEF	ASHS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	2.57	-0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.15	+0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.13	+0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.19	+0.31

Drawdowns

DEEF vs. ASHS - Drawdown Comparison

The maximum DEEF drawdown since its inception was -36.48%, smaller than the maximum ASHS drawdown of -69.90%. Use the drawdown chart below to compare losses from any high point for DEEF and ASHS.

Drawdown Indicators

	DEEF	ASHS	Difference
Max Drawdown Largest peak-to-trough decline	-36.48%	-69.90%	+33.42%
Max Drawdown (1Y) Largest decline over 1 year	-10.64%	-14.03%	+3.39%
Max Drawdown (3Y) Largest decline over 3 years	-11.07%	-34.13%	+23.06%
Max Drawdown (5Y) Largest decline over 5 years	-31.08%	-47.81%	+16.73%
Max Drawdown (10Y) Largest decline over 10 years	-36.48%	-47.81%	+11.33%
Current Drawdown Current decline from peak	-3.63%	-33.57%	+29.94%
Average Drawdown Average peak-to-trough decline	-7.09%	-48.57%	+41.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	4.21%	-1.16%

Volatility

DEEF vs. ASHS - Volatility Comparison

The current volatility for Xtrackers FTSE Developed ex US Multifactor ETF (DEEF) is 3.88%, while Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS) has a volatility of 7.33%. This indicates that DEEF experiences smaller price fluctuations and is considered to be less risky than ASHS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DEEF	ASHS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.88%	7.33%	-3.45%
Volatility (6M) Calculated over the trailing 6-month period	11.62%	17.00%	-5.38%
Volatility (1Y) Calculated over the trailing 1-year period	13.53%	22.59%	-9.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.93%	26.46%	-11.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.29%	25.57%	-9.28%

DEEF vs. ASHS - Expense Ratio Comparison

DEEF has a 0.24% expense ratio, which is lower than ASHS's 0.65% expense ratio.

Dividends

DEEF vs. ASHS - Dividend Comparison

DEEF's dividend yield for the trailing twelve months is around 3.38%, 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%
DEEF Xtrackers FTSE Developed ex US Multifactor ETF	3.38%	3.63%	4.04%	3.96%	3.31%	3.84%	2.71%	3.74%	2.80%	2.61%	4.35%	0.00%

Frequently Asked Questions

Can I hold both DEEF and ASHS in my portfolio?

DEEF and ASHS have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DEEF or ASHS?

ASHS has higher volatility (7.33%) compared to DEEF (3.88%). In terms of maximum drawdown, DEEF dropped -36.48% vs ASHS's -69.90%.

Which ETF is better, DEEF or ASHS?

On 10-year performance, DEEF leads with 8.28% vs 3.27% for ASHS. On fees, DEEF is cheaper at 0.24% per year. On volatility, DEEF has been the lower-risk option at 3.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DEEF or ASHS?

Over the 10-year period, DEEF has performed better with a 8.28% return vs 3.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DEEF or ASHS?

DEEF is cheaper with a 0.24% expense ratio, compared with 0.65% for ASHS.

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

DEEF has the higher dividend yield at 3.38%, compared with 0.00% for ASHS.

What is the main difference between DEEF and ASHS?

DEEF is categorized as Foreign Large Cap Equities, while ASHS is China Equities. DEEF tracks FTSE Developed ex US Comprehensive Factor Net Tax (US RIC) Index, while ASHS tracks CSI 500 Index. Their fees differ too: 0.24% for DEEF and 0.65% for ASHS.

Which has better risk-adjusted returns?

ASHS currently has the higher Sharpe Ratio (2.57 vs 1.77), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.