FXP vs. ASHR
FXP (ProShares UltraShort FTSE China 50) and ASHR (Xtrackers Harvest CSI 300 China A-Shares ETF) are both exchange-traded funds - FXP is a Leveraged Equities fund tracking the FTSE China 50 Net Tax USD (TR) (-200%), while ASHR is a China Equities fund tracking the CSI 300 Index. Both are passively managed. Over the past 10 years, FXP returned -22.28%/yr vs 5.96%/yr for ASHR. At a correlation of -0.72, they often move in opposite directions. FXP charges 0.95%/yr vs 0.65%/yr for ASHR.
Performance
FXP vs. ASHR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FXP achieves a 30.56% return, which is significantly higher than ASHR's 9.77% return. Over the past 10 years, FXP has underperformed ASHR with an annualized return of -22.28%, while ASHR has yielded a comparatively higher 5.96% annualized return.
FXP
- 1D
- 4.04%
- 1M
- 14.69%
- YTD
- 30.56%
- 6M
- 32.48%
- 1Y
- 12.48%
- 3Y*
- -27.51%
- 5Y*
- -14.41%
- 10Y*
- -22.28%
ASHR
- 1D
- -3.32%
- 1M
- 2.01%
- YTD
- 9.77%
- 6M
- 10.21%
- 1Y
- 37.51%
- 3Y*
- 12.76%
- 5Y*
- -0.54%
- 10Y*
- 5.96%
FXP vs. ASHR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXP ProShares UltraShort FTSE China 50 | 30.56% | -45.32% | -52.46% | 12.74% | -11.73% | 23.56% | -39.47% | -29.01% | 12.45% | -49.76% |
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF | 9.77% | 27.02% | 11.95% | -12.52% | -27.52% | -1.57% | 36.29% | 36.50% | -28.45% | 33.47% |
Correlation
The correlation between FXP and ASHR is -0.68, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.74 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2013 | -0.72 |
The correlation between FXP and ASHR has been stable across timeframes, ranging from -0.74 to -0.68 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FXP vs. ASHR — Risk / Return Rank
FXP
ASHR
FXP vs. ASHR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort FTSE China 50 (FXP) and Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR). 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.
| FXP | ASHR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.79 | ||
| Sortino ratioReturn per unit of downside risk | -2.17 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.37 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.51 | 4.90 | -4.39 |
| Martin ratioReturn relative to average drawdown | 0.89 | 14.20 | -13.31 |
Loading charts...
Drawdowns
FXP vs. ASHR - Drawdown Comparison
The maximum FXP drawdown since its inception was -99.94%, which is greater than ASHR's maximum drawdown of -51.30%. Use the drawdown chart below to compare losses from any high point for FXP and ASHR.
Loading charts...
Drawdown Indicators
| FXP | ASHR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.94% | -51.30% | -48.64% |
Max Drawdown (1Y)Largest decline over 1 year | -24.73% | -7.69% | -17.04% |
Max Drawdown (3Y)Largest decline over 3 years | -82.34% | -33.12% | -49.22% |
Max Drawdown (5Y)Largest decline over 5 years | -87.85% | -44.59% | -43.26% |
Max Drawdown (10Y)Largest decline over 10 years | -94.71% | -51.30% | -43.41% |
Current DrawdownCurrent decline from peak | -99.91% | -15.89% | -84.02% |
Average DrawdownAverage peak-to-trough decline | -94.15% | -29.13% | -65.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.56% | 2.65% | +11.91% |
Volatility
FXP vs. ASHR - Volatility Comparison
ProShares UltraShort FTSE China 50 (FXP) has a higher volatility of 12.22% compared to Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) at 7.31%. This indicates that FXP's price experiences larger fluctuations and is considered to be riskier than ASHR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FXP | ASHR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.22% | 7.31% | +4.91% |
Volatility (6M)Calculated over the trailing 6-month period | 29.48% | 12.95% | +16.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.65% | 17.88% | +21.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.21% | 24.01% | +39.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.78% | 24.09% | +30.69% |
FXP vs. ASHR - Expense Ratio Comparison
FXP has a 0.95% expense ratio, which is higher than ASHR's 0.65% expense ratio.
Dividends
FXP vs. ASHR - Dividend Comparison
FXP's dividend yield for the trailing twelve months is around 3.58%, more than ASHR's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF | 2.10% | 2.31% | 1.13% | 2.48% | 1.13% | 0.88% | 0.81% | 0.98% | 1.32% | 0.84% | 0.73% | 30.13% |
FXP ProShares UltraShort FTSE China 50 | 3.58% | 9.57% | 3.55% | 2.20% | 0.06% | 0.00% | 0.06% | 1.20% | 0.16% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FXP and ASHR have a correlation of -0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXP has higher volatility (12.22%) compared to ASHR (7.31%). In terms of maximum drawdown, FXP dropped -99.94% vs ASHR's -51.30%.
On 10-year performance, ASHR leads with 5.96% vs -22.28% for FXP. On fees, ASHR is cheaper at 0.65% per year. On volatility, ASHR has been the lower-risk option at 7.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ASHR has performed better with a 5.96% return vs -22.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ASHR is cheaper with a 0.65% expense ratio, compared with 0.95% for FXP.
FXP has the higher dividend yield at 3.58%, compared with 2.10% for ASHR.
FXP is categorized as Leveraged Equities, while ASHR is China Equities. FXP tracks FTSE China 50 Net Tax USD (TR) (-200%), while ASHR tracks CSI 300 Index. They also come from different issuers: ProShares and DWS. Their fees differ too: 0.95% for FXP and 0.65% for ASHR.
ASHR currently has the higher Sharpe Ratio (2.11 vs 0.32), 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.
Find the right allocation for FXP and ASHR
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer