XCHA.DE vs. ASHR

Last updated Jun 26, 2026

XCHA.DE (Xtrackers CSI 300 Swap UCITS ETF 1C) and ASHR (Xtrackers Harvest CSI 300 China A-Shares ETF) are both China Equities funds - XCHA.DE tracks the MSCI China A Onshore NR CNY while ASHR tracks the CSI 300 Index. Both are passively managed. Over the past 10 years, XCHA.DE returned 9.73%/yr vs 5.73%/yr for ASHR. Their correlation of 0.84 suggests significant overlap in exposure. XCHA.DE charges 0.50%/yr vs 0.65%/yr for ASHR.

Performance

XCHA.DE vs. ASHR - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.DE) and Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XCHA.DE is traded in EUR, while ASHR is traded in USD. To make them comparable, the ASHR values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, XCHA.DE achieves a 17.62% return, which is significantly higher than ASHR's 15.43% return. Over the past 10 years, XCHA.DE has outperformed ASHR with an annualized return of 9.73%, while ASHR has yielded a comparatively lower 5.73% annualized return.

XCHA.DE

• 1D: 1.81%
• 1M: 4.79%
• YTD: 17.62%
• 6M: 19.04%
• 1Y: 44.57%
• 3Y*: 15.80%
• 5Y*: 3.97%
• 10Y*: 9.73%

ASHR

• 1D: 2.24%
• 1M: 4.00%
• YTD: 15.43%
• 6M: 15.85%
• 1Y: 39.08%
• 3Y*: 12.12%
• 5Y*: 0.46%
• 10Y*: 5.73%

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

XCHA.DE vs. ASHR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XCHA.DE Xtrackers CSI 300 Swap UCITS ETF 1C	17.62%	14.66%	24.36%	-14.24%	-19.19%	13.31%	31.26%	44.91%	-21.79%	18.93%
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF	15.43%	11.95%	19.34%	-15.14%	-23.03%	5.79%	25.06%	39.59%	-25.09%	17.07%

Correlation

The correlation between XCHA.DE and ASHR is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Nov 6, 2013	0.84

The correlation between XCHA.DE and ASHR has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.

Return for Risk

XCHA.DE vs. ASHR — Risk / Return Rank

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

XCHA.DE

XCHA.DE Risk / Return Rank: 91
XCHA.DE Sharpe Ratio Rank: 91
XCHA.DE Sortino Ratio Rank: 90
XCHA.DE Omega Ratio Rank: 88
XCHA.DE Calmar Ratio Rank: 96
XCHA.DE Martin Ratio Rank: 91

ASHR

ASHR Risk / Return Rank: 76
ASHR Sharpe Ratio Rank: 72
ASHR Sortino Ratio Rank: 71
ASHR Omega Ratio Rank: 69
ASHR Calmar Ratio Rank: 89
ASHR Martin Ratio Rank: 79

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.

XCHA.DE vs. ASHR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.DE) 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.

	XCHA.DE	ASHR	Difference
Sharpe ratio: Return per unit of total volatility	2.71	2.25	+0.45
Sortino ratio: Return per unit of downside risk	3.61	3.07	+0.54
Omega ratio: Gain probability vs. loss probability	1.47	1.39	+0.09
Calmar ratio: Return relative to maximum drawdown	7.46	6.23	+1.23
Martin ratio: Return relative to average drawdown	19.02	15.66	+3.35

XCHA.DE vs. ASHR - Sharpe Ratio Comparison

The current XCHA.DE Sharpe Ratio is 2.71, which is comparable to the ASHR Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of XCHA.DE and ASHR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XCHA.DE vs. ASHR - Drawdown Comparison

The maximum XCHA.DE drawdown since its inception was -52.27%, roughly equal to the maximum ASHR drawdown of -50.79%. Use the drawdown chart below to compare losses from any high point for XCHA.DE and ASHR.

Drawdown Indicators

	XCHA.DE	ASHR	Difference
Max Drawdown Largest peak-to-trough decline	-52.27%	-50.79%	-1.48%
Max Drawdown (1Y) Largest decline over 1 year	-5.94%	-6.30%	+0.36%
Max Drawdown (3Y) Largest decline over 3 years	-26.34%	-32.74%	+6.40%
Max Drawdown (5Y) Largest decline over 5 years	-37.05%	-41.51%	+4.46%
Max Drawdown (10Y) Largest decline over 10 years	-38.54%	-45.66%	+7.12%
Current Drawdown Current decline from peak	-0.66%	-9.35%	+8.69%
Average Drawdown Average peak-to-trough decline	-24.44%	-27.20%	+2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.33%	2.51%	-0.18%

Volatility

XCHA.DE vs. ASHR - Volatility Comparison

The current volatility for Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.DE) is 6.20%, while Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) has a volatility of 6.99%. This indicates that XCHA.DE experiences smaller price fluctuations and is considered to be less risky than ASHR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XCHA.DE	ASHR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.20%	6.99%	-0.79%
Volatility (6M) Calculated over the trailing 6-month period	11.58%	12.40%	-0.82%
Volatility (1Y) Calculated over the trailing 1-year period	16.44%	17.46%	-1.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.32%	23.09%	-1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.20%	23.67%	-1.47%

XCHA.DE vs. ASHR - Expense Ratio Comparison

XCHA.DE has a 0.50% expense ratio, which is lower than ASHR's 0.65% expense ratio.

Dividends

XCHA.DE vs. ASHR - Dividend Comparison

XCHA.DE has not paid dividends to shareholders, while ASHR's dividend yield for the trailing twelve months is around 2.07%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASHR Xtrackers Harvest CSI 300 China A-Shares ETF	2.07%	2.31%	1.13%	2.48%	1.13%	0.88%	0.81%	0.98%	1.32%	0.84%	0.73%	30.13%
XCHA.DE Xtrackers CSI 300 Swap UCITS ETF 1C	0.00%	0.00%	0.00%	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 XCHA.DE and ASHR in my portfolio?

XCHA.DE and ASHR have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XCHA.DE or ASHR?

On fees, XCHA.DE is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XCHA.DE or ASHR?

XCHA.DE is cheaper with a 0.50% expense ratio, compared with 0.65% for ASHR.

What is the main difference between XCHA.DE and ASHR?

XCHA.DE tracks MSCI China A Onshore NR CNY, while ASHR tracks CSI 300 Index. They also come from different issuers: Xtrackers and DWS. Their fees differ too: 0.50% for XCHA.DE and 0.65% for ASHR.