KCAI vs. ASHX

Last updated Jun 27, 2026

KCAI (KraneShares China Alpha Index ETF) and ASHX (Xtrackers MSCI China A Inclusion Equity ETF) are both China Equities funds - KCAI tracks the Qi China Alpha Index while ASHX tracks the MSCI China A Inclusion Index. Both are passively managed. KCAI charges 0.79%/yr vs 0.60%/yr for ASHX.

Performance

KCAI vs. ASHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares China Alpha Index ETF (KCAI) and Xtrackers MSCI China A Inclusion Equity ETF (ASHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

KCAI

• 1D: -1.13%
• 1M: -1.87%
• YTD: 4.28%
• 6M: 4.63%
• 1Y: 43.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASHX

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

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

KCAI vs. ASHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KCAI KraneShares China Alpha Index ETF	4.28%	53.29%	11.36%
ASHX Xtrackers MSCI China A Inclusion Equity ETF	0.00%	0.00%	0.00%

KCAI vs. ASHX - Sectors Allocation Comparison

Sectors	KCAI	ASHX
Financial Services	39.0%	19.6%
Industrials	23.6%	16.0%
Technology	13.2%	14.1%
Consumer Cyclical	11.5%	7.1%
Basic Materials	11.3%	9.6%
Healthcare	1.3%	7.9%
Communication Services	-	1.5%
Consumer Defensive	-	14.3%
Energy	-	4.2%
Real Estate	-	1.4%
Utilities	-	4.3%

Return for Risk

KCAI vs. ASHX — Risk / Return Rank

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

KCAI

KCAI Risk / Return Rank: 95
KCAI Sharpe Ratio Rank: 95
KCAI Sortino Ratio Rank: 95
KCAI Omega Ratio Rank: 93
KCAI Calmar Ratio Rank: 97
KCAI Martin Ratio Rank: 96

ASHX

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.

KCAI vs. ASHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares China Alpha Index ETF (KCAI) 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.

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.

	KCAI	ASHX	Difference
Sharpe ratio: Return per unit of total volatility	3.20	—	—
Sortino ratio: Return per unit of downside risk	4.57	—	—
Omega ratio: Gain probability vs. loss probability	1.56	—	—
Calmar ratio: Return relative to maximum drawdown	9.93	—	—
Martin ratio: Return relative to average drawdown	28.09	—	—

Drawdowns

Drawdown Indicators

	KCAI	ASHX	Difference
Max Drawdown Largest peak-to-trough decline	-25.48%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-4.41%	—	—
Current Drawdown Current decline from peak	-4.41%	—	—
Average Drawdown Average peak-to-trough decline	-6.99%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	—	—

Volatility

Volatility by Period

	KCAI	ASHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.56%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.00%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.69%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.02%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.02%	—	—

KCAI vs. ASHX - Expense Ratio Comparison

KCAI has a 0.79% expense ratio, which is higher than ASHX's 0.60% expense ratio.

Dividends

KCAI vs. ASHX - Dividend Comparison

KCAI's dividend yield for the trailing twelve months is around 33.97%, 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%
KCAI KraneShares China Alpha Index ETF	33.97%	35.42%	2.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, KCAI 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, KCAI or ASHX?

ASHX is cheaper with a 0.60% expense ratio, compared with 0.79% for KCAI.

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

KCAI has the higher dividend yield at 33.97%, compared with 0.00% for ASHX.

What is the main difference between KCAI and ASHX?

KCAI tracks Qi China Alpha Index, while ASHX tracks MSCI China A Inclusion Index. They also come from different issuers: KraneShares and Deutsche Bank. Their fees differ too: 0.79% for KCAI and 0.60% for ASHX.