FXP vs. ASHR
FXP (ProShares UltraShort FTSE China 50) and ASHR (Xtrackers Harvest CSI 300 China A-Shares ETF) are both China Equities funds - FXP tracks the FTSE China 50 Net Tax USD (TR) (-200%) while ASHR tracks the CSI 300 Index. Both are passively managed. Over the past 10 years, FXP returned -22.22%/yr vs 4.85%/yr for ASHR. Their -0.72 correlation means they have often moved in opposite directions in the past. FXP charges 0.95%/yr vs 0.65%/yr for ASHR.
Performance
FXP vs. ASHR - Performance Comparison
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Returns By Period
In the year-to-date period, FXP achieves a 6.18% return, which is significantly higher than ASHR's 4.57% return. Over the past 10 years, FXP has underperformed ASHR with an annualized return of -22.22%, while ASHR has yielded a comparatively higher 4.85% annualized return.
FXP
- 1D
- 0.44%
- 1M
- -23.97%
- 6M
- 9.78%
- YTD
- 6.18%
- 1Y
- -1.26%
- 3Y*
- -27.96%
- 5Y*
- -21.08%
- 10Y*
- -22.22%
- ALL TIME*
- -28.45%
ASHR
- 1D
- 1.27%
- 1M
- -2.30%
- 6M
- 3.34%
- YTD
- 4.57%
- 1Y
- 23.02%
- 3Y*
- 8.56%
- 5Y*
- -0.69%
- 10Y*
- 4.85%
- ALL TIME*
- 5.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $123.03M | $146.38M | $160.76M | |
| $103.24K | $95.91K | $96.09K |
FXP vs. ASHR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXP ProShares UltraShort FTSE China 50 | 6.18% | -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 | 4.57% | 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 -0.58, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.58 |
Correlation (3Y) Balances recent behavior with more history. | -0.67 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.70 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.73 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2013 | -0.72 |
The correlation between FXP and ASHR shifts across timeframes, from -0.73 (10 years) to -0.58 (1 year), reflecting how their relationship changes across market environments.
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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 | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.21 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 2.35 | -2.40 |
| Martin ratioReturn relative to average drawdown | -0.11 | 6.73 | -6.84 |
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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.
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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 | -25.65% | -9.84% | -15.81% |
Max Drawdown (3Y)Largest decline over 3 years | -82.34% | -33.12% | -49.22% |
Max Drawdown (5Y)Largest decline over 5 years | -87.85% | -44.10% | -43.75% |
Max Drawdown (10Y)Largest decline over 10 years | -93.56% | -51.30% | -42.26% |
Current DrawdownCurrent decline from peak | -99.92% | -19.88% | -80.04% |
Average DrawdownAverage peak-to-trough decline | -94.18% | -29.03% | -65.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.62% | 3.43% | +8.19% |
Volatility
FXP vs. ASHR - Volatility Comparison
ProShares UltraShort FTSE China 50 (FXP) has a higher volatility of 10.97% compared to Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) at 8.13%. 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.
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Volatility by Period
| FXP | ASHR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.97% | 8.13% | +2.84% |
Volatility (6M)Calculated over the trailing 6-month period | 29.41% | 15.45% | +13.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.60% | 19.82% | +20.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.72% | 23.98% | +38.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.81% | 24.21% | +30.60% |
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 3.39%, more than ASHR's 2.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF | 2.21% | 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 | 3.39% | 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 -0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXP has higher volatility (10.97%) compared to ASHR (8.13%). In terms of maximum drawdown, FXP dropped -99.94% vs ASHR's -51.30%.
On 10-year performance, ASHR leads with 4.85% vs -22.22% for FXP. On fees, ASHR is cheaper at 0.65% per year. On volatility, ASHR has been the lower-risk option at 8.13%. 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 4.85% return vs -22.22%. 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 3.39%, compared with 2.21% for ASHR.
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 (1.17 vs -0.03), 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.
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