NBCE vs. ASHX

Last updated Jun 23, 2026

NBCE (Neuberger Berman China Equity ETF) and ASHX (Xtrackers MSCI China A Inclusion Equity ETF) are both China Equities funds. NBCE is actively managed, while ASHX is passively managed. At a 0.30 correlation, their price movements are largely independent. NBCE charges 0.74%/yr vs 0.60%/yr for ASHX.

Performance

NBCE vs. ASHX - Performance Comparison

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

Returns By Period

NBCE

• 1D: 2.88%
• 1M: 11.08%
• YTD: 36.34%
• 6M: 37.86%
• 1Y: 74.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASHX

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

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

NBCE vs. ASHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NBCE Neuberger Berman China Equity ETF	36.34%	39.08%	3.35%	-2.22%
ASHX Xtrackers MSCI China A Inclusion Equity ETF	0.00%	0.00%	0.27%	-2.96%

Correlation

The correlation between NBCE and ASHX is 0.30, 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 Oct 16, 2023	0.30

NBCE vs. ASHX - Sectors Allocation Comparison

Sectors	NBCE	ASHX
Technology	33.7%	14.1%
Industrials	17.7%	16.0%
Financial Services	14.0%	19.6%
Basic Materials	11.7%	9.6%
Consumer Cyclical	6.8%	7.1%
Consumer Defensive	4.3%	14.3%
Healthcare	4.2%	7.9%
Energy	3.7%	4.2%
Utilities	1.6%	4.3%
Real Estate	1.5%	1.4%
Communication Services	0.9%	1.5%

Return for Risk

NBCE vs. ASHX — Risk / Return Rank

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

NBCE

NBCE Risk / Return Rank: 95
NBCE Sharpe Ratio Rank: 95
NBCE Sortino Ratio Rank: 94
NBCE Omega Ratio Rank: 94
NBCE Calmar Ratio Rank: 96
NBCE Martin Ratio Rank: 94

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.

NBCE vs. ASHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman China Equity ETF (NBCE) 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.

	NBCE	ASHX	Difference
Sharpe ratio: Return per unit of total volatility	3.71	—	—
Sortino ratio: Return per unit of downside risk	4.63	—	—
Omega ratio: Gain probability vs. loss probability	1.64	—	—
Calmar ratio: Return relative to maximum drawdown	8.10	—	—
Martin ratio: Return relative to average drawdown	26.61	—	—

Drawdowns

Drawdown Indicators

	NBCE	ASHX	Difference
Max Drawdown Largest peak-to-trough decline	-28.42%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.23%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-8.99%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	—	—

Volatility

Volatility by Period

	NBCE	ASHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.37%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.17%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.33%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.33%	—	—

NBCE vs. ASHX - Expense Ratio Comparison

NBCE has a 0.74% expense ratio, which is higher than ASHX's 0.60% expense ratio.

Dividends

NBCE vs. ASHX - Dividend Comparison

NBCE's dividend yield for the trailing twelve months is around 0.97%, 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%
NBCE Neuberger Berman China Equity ETF	0.97%	1.32%	1.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NBCE and ASHX in my portfolio?

NBCE and ASHX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NBCE 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, NBCE or ASHX?

ASHX is cheaper with a 0.60% expense ratio, compared with 0.74% for NBCE.

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

NBCE has the higher dividend yield at 0.97%, compared with 0.00% for ASHX.

What is the main difference between NBCE and ASHX?

They also come from different issuers: Neuberger Berman and Deutsche Bank. Their fees differ too: 0.74% for NBCE and 0.60% for ASHX.