GXC vs. CAS

Last updated Jun 23, 2026

GXC (SPDR S&P China ETF) and CAS (Simplify China A Shares PLUS Income ETF) are both China Equities funds. GXC is passively managed, while CAS is actively managed. At a 0.25 correlation, their price movements are largely independent. GXC charges 0.59%/yr vs 0.88%/yr for CAS.

Performance

GXC vs. CAS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P China ETF (GXC) and Simplify China A Shares PLUS Income ETF (CAS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GXC

• 1D: 0.75%
• 1M: -2.98%
• YTD: -6.50%
• 6M: -8.11%
• 1Y: 8.50%
• 3Y*: 10.33%
• 5Y*: -4.63%
• 10Y*: 5.28%

CAS

• 1D: -1.70%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GXC vs. CAS - Yearly Performance Comparison

	2026 (YTD)
GXC SPDR S&P China ETF	-2.68%
CAS Simplify China A Shares PLUS Income ETF	-5.11%

Correlation

The correlation between GXC and CAS is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 4, 2026	0.25

Return for Risk

GXC vs. CAS — Risk / Return Rank

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

GXC

GXC Risk / Return Rank: 15
GXC Sharpe Ratio Rank: 15
GXC Sortino Ratio Rank: 14
GXC Omega Ratio Rank: 15
GXC Calmar Ratio Rank: 15
GXC Martin Ratio Rank: 14

CAS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

GXC vs. CAS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P China ETF (GXC) and Simplify China A Shares PLUS Income ETF (CAS). 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.

	GXC	CAS	Difference
Sharpe ratio: Return per unit of total volatility	0.45	—	—
Sortino ratio: Return per unit of downside risk	0.75	—	—
Omega ratio: Gain probability vs. loss probability	1.09	—	—
Calmar ratio: Return relative to maximum drawdown	0.58	—	—
Martin ratio: Return relative to average drawdown	1.26	—	—

Drawdowns

GXC vs. CAS - Drawdown Comparison

The maximum GXC drawdown since its inception was -71.96%, which is greater than CAS's maximum drawdown of -5.11%. Use the drawdown chart below to compare losses from any high point for GXC and CAS.

Drawdown Indicators

	GXC	CAS	Difference
Max Drawdown Largest peak-to-trough decline	-71.96%	-5.11%	-66.85%
Max Drawdown (1Y) Largest decline over 1 year	-14.63%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-25.54%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-53.99%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-60.23%	—	—
Current Drawdown Current decline from peak	-33.92%	-5.11%	-28.81%
Average Drawdown Average peak-to-trough decline	-28.83%	-3.16%	-25.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.77%	—	—

Volatility

Volatility by Period

	GXC	CAS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.95%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.01%	13.51%	+5.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.00%	13.51%	+15.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.09%	13.51%	+12.58%

GXC vs. CAS - Expense Ratio Comparison

GXC has a 0.59% expense ratio, which is lower than CAS's 0.88% expense ratio.

Dividends

GXC vs. CAS - Dividend Comparison

GXC's dividend yield for the trailing twelve months is around 3.33%, while CAS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
GXC SPDR S&P China ETF	3.33%	2.40%	2.81%	3.70%	2.67%	1.35%	1.04%	1.60%	2.03%	1.84%	2.05%	2.85%

Frequently Asked Questions

Can I hold both GXC and CAS in my portfolio?

GXC and CAS have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GXC or CAS?

On fees, GXC is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GXC or CAS?

GXC is cheaper with a 0.59% expense ratio, compared with 0.88% for CAS.

Which ETF pays a higher dividend yield, GXC or CAS?

GXC has the higher dividend yield at 3.33%, compared with 0.00% for CAS.

What is the main difference between GXC and CAS?

They also come from different issuers: State Street and Simplify. Their fees differ too: 0.59% for GXC and 0.88% for CAS.