ASHS vs CXSE: Grades, Fees and Holdings Compared

Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF

ASHSBNYSE Arca

WisdomTree China ex-State-Owned Enterprises Fund

CXSEANasdaq

Overlap

1.5%by weight

Expense ratio

CXSE −0.33pt a year

ASHS0.65%CXSE0.32%

Avg volume · 30D

CXSE 4.3×the volume

ASHS8.62KCXSE37.2K

10Y return · a year

CXSE +2.6pt

ASHS+0.5%CXSE+3.1%

ASHS vs CXSE Performance

Oct 29, 2021 – Oct 30, 2026

−10.1%ASHS−39.0%CXSE

Expense ratio: ASHS 0.65%; CXSE 0.32%, better
Fund size: ASHS $24M; CXSE $372M
1Y total return: ASHS −7.5%, better; CXSE −24.9%
Yield (12M): ASHS 0.00%; CXSE 2.22%, better
Holdings: ASHS 495; CXSE 241
Avg volume (30D): ASHS 8.62K sh; CXSE 37.2K sh, better
NAV per share: ASHS $34.58; CXSE $31.37
52W range

ETF.net Grade

Pillar letters and Scores for ASHS, CXSE, with each pillar’s weight
Pillar	ASHS	CXSE
Cost30% weight	C53	A97Higher
Mission25% weight	A75	A100Higher
Risk15% weight	B57Higher	C47
Tradability15% weight	C49	B63Higher
Holdings10% weight	A81Higher	A74
Durability5% weight	B60	A79Higher

Rank among China funds

How we build Categories ›

Same Category. ASHS and CXSE are both graded against the same 28 China funds, so their Grades compare head to head.

China⁠

Category · 28 funds

See all 28 ›

CXSE ranks 1st and ASHS 10th of 28 funds in the China Category.

Rank 1ACXSEWisdomTree China ex-State-Owned Enterprises FundScore 81
Rank 2AFLCHFranklin FTSE China ETFScore 80
Rank 8BTCHIiShares MSCI China Multisector Tech ETFScore 63
Rank 10BASHSXtrackers Harvest CSI 500 China A-Shares Small Cap ETFScore 61
Rank 10BJCHIJPMorgan Active China ETF Active China ETFScore 61

Our read on each fund

ETF.net Research

ASHSBXtrackers Harvest CSI 500 China A-Shares Small Cap ETF

CXSEAWisdomTree China ex-State-Owned Enterprises Fund

In short

ASHS A pure play on the small end of mainland China: roughly 500 of the smallest, most liquid A-shares, indexed and left alone. Running since 2014 at 0.65% a year.

CXSE CXSE tracks an index that screens state-owned enterprises out of China, leaving the privately run companies. A tilt toward entrepreneurs rather than Beijing's balance sheet, at a fee well under the typical China fund.

Stated mandate

ASHS The Fund passively seeks to approximate an index tracking small-cap companies in China's A-Share market, specifically the 500 smallest and most liquid stocks.

CXSE The Fund seeks to track, before fees and expenses, the price and yield performance of the WisdomTree China ex-State-Owned Enterprises Index.

Why people hold it

ASHS Specific mandate: roughly 500 of the smallest, most liquid stocks in China's onshore A-share market, tracked by index rather than stock-picked.
0.65% a year sits a shade under the middle of the China ETF pack, though broad-China alternatives run cheaper (FLCH at 0.19%, JCHI at 0.15%).
Live since 2014 and it stays on its stated small-cap A-share index instead of drifting. Lands in the upper half of its China peer group.
Spreading across about 500 names keeps any single mainland company from steering the whole portfolio.

CXSE The whole design is one screen: state-controlled companies out, privately run ones in, about 200 of them. Not a broad China index with a tweak.
0.32% a year, well under half the 0.70% median for single-country China funds.
Trading since 2012, and one of the tighter, more faithful builds in a crowded China cohort.

Worth knowing

ASHS Small fund, thin trading. Spreads can widen, so limit orders and patience matter more here than with the household-name China trackers.
One country, one size band, no hedging. That concentration shows up as one of the rougher rides in its China cohort.
Not built as an income line: distributions have not been a regular feature of this fund.

CXSE Thinly traded next to China heavyweights like MCHI and GXC, so limit orders matter more here.
One country, about 200 stocks, and none of the state-backed heavyweights as ballast. Swings run bigger than a diversified global fund's.
Cheap for the group, not the cheapest: FLCH (0.19%) and JCHI (0.15%) undercut it with different mandates.

Full ASHS profile⁠

Full CXSE profile⁠

ASHS vs CXSE Holdings

How ASHS and CXSE differ

Overlap by weight

1.5%

Shared holdings make up 9.1% of ASHS and 1.5% of CXSE.

Level by level

Holdings16 in both1.5%
Sector11 Sectors64.6%
Countryby domicile93.2%
Asset classEquity100%

Sector

Sector weights in ASHS and CXSE, widest gap first
Sector	More in ASHSMore in CXSE	ASHS	CXSE
Consumer Discretionary	CXSE +20.4 points	5.7%	26.1%
Materials	ASHS +12.9 points	16.1%	3.2%
Technology	ASHS +12.7 points	36.1%	23.4%
Communication	CXSE +8.4 points	2.3%	10.7%
Industrials	ASHS +5.6 points	17.0%	11.4%
Health Care	CXSE +3.6 points	8.6%	12.2%
Consumer Staples	CXSE +2.3 points	2.3%	4.6%
Utilities	ASHS +2.2 points	2.5%	0.3%
Energy	ASHS +2.1 points	2.4%	0.3%
Financials	CXSE +0.5 points	6.5%	7.0%
Real Estate	CXSE +0.2 points	0.7%	0.9%

Country, concentration and asset class

Country by domicile

Country weights in ASHS and CXSE, widest gap first
Country	More in ASHSMore in CXSE	ASHS	CXSE
China	ASHS +6.8 points	99.6%	92.8%
Hong Kong	CXSE +4.4 points	0.0%	4.4%
United States	CXSE +2.0 points	0.3%	2.4%
Other countries (2)	CXSE +0.3 points	0.1%	0.4%

Outside the US: ASHS 0% developed, 100% emerging. CXSE 5% developed, 95% emerging.

Concentration

Weight in the 10 largest Holdings

ASHS7.2%
CXSE36.0%

Securities held

ASHS491
CXSE236

Asset class

ASHS: Equity
CXSE: Equity

Holdings

Only in ASHS475
In both16
Only in CXSE220

Only in ASHS

475 securities, 90.3% of ASHS by weight

Hwatsing Technology Co A0.83%
Hua Hong Semiconductor Ltd0.70%
Raytron Technology Co Ltd0.65%
Accelink Technologies Co Ltd-A0.65%
Shenzhen Fastprint Circuit-A0.63%
Bank of Suzhou Co Ltd0.56%
Pharmaron Beijing Co Ltd0.55%
Shenzhen Sunway Communication Co Ltd0.53%
BlueFocus Communication Group-A0.52%
Tianshui Huatian Tech A0.51%
Hongfa Technology Co A0.50%
Wangsu Science & Technolog-A0.47%
Amlogic Shanghai Co Ltd0.46%
China Minmetals Rare A0.46%
United Nova Technology (A) (SC SH)0.45%
Leader Harmonious Drive Sy-A0.42%
Shenzhen Sunlord Elect A0.41%
Guanghui Energy Co Ltd-A0.41%
Advanced Fiber A(Hk-C)0.40%
Yangtze Optical Fibre And Cable Joint Stock Ltd Co - A0.39%
EverProX Technologies (A) (SC SZ)0.39%
Wintime Energy Co Ltd-A0.39%
Sangfor Technologies Inc0.39%
Kingsemi Co Ltd0.38%
Shanghai 2345 Network Hold-A0.38%
Shenzhen Kedali Industry Co Ltd0.38%
Zhejiang Crystal-Optech Co Ltd-A0.38%
Tongkun Group Co Ltd-A0.38%
Henan Shijia Photons Technology (A) (SC SH)0.37%
Zhejiang Cfmoto Power Co L-A0.37%
Anji Microelectronics Technology A0.37%
SooChow Securities Co Ltd0.37%
Shenzhen Kaifa Technology Co Ltd0.37%
Qilu Bank Co Ltd - A0.37%
Beijing Huafeng Test & Control Technology Co Ltd0.37%
Founder Technology Group -A0.36%
Zhejiang Longsheng Group C-A0.36%
Zhejiang Shuanghuan Driveline Co Ltd0.36%
Gem Co Ltd-A0.36%
BeOne Medicines Ltd - A0.35%
Yunnan Energy New Material Co Ltd0.35%
Centre Testing International Group Co Ltd0.34%
Hubei Feilihua Quartz Glass Co Ltd0.34%
Smartsens Technology Shang-A0.34%
China Xd Electric Co A0.34%
Asymchem Laboratories Tian Jin Co Ltd - A0.33%
Hengyi Petrochemical Co -A0.33%
Jiangsu Nata Opto-Electronic-A0.33%
Do-Fluoride Chemical Co Ltd-A0.33%
Jiangsu Etern A (Hk-C)0.33%

Only in CXSE

220 securities, 98.4% of CXSE by weight

Tencent Holdings Ltd9.97%
Alibaba Group Holding Ltd8.18%
Contemporary Amperex Techn-A3.36%
Zhongji Innolight Co Ltd-A2.94%
Ping An Insurance Group Co of China2.36%
PDD Holdings Inc.2.06%
Xiaomi Corp-Class B1.97%
Midea Group Co Ltd1.78%
Meituan - Class B1.71%
Wuxi Apptec Co Ltd-A1.63%
Ping An Insurance Group Co of China1.60%
Netease Inc1.42%
Eoptolink Technology Inc L-A1.39%
Cambricon Technologies-A1.34%
BYD Co Ltd1.22%
Jd.Com Inc - Cl A1.16%
Foxconn Industrial Internet Co1.05%
Beigene Ltd1.03%
Luxshare Precision Industry Co0.96%
Montage Technology Co Ltd-A0.95%
Trip.Com Group Ltd0.92%
Wuxi Biologics Cayman Inc0.90%
Baidu Inc-Class A0.90%
East Money Information Co-A0.88%
Gigadevice Semiconductor Beiji0.88%
BYD Co Ltd0.76%
Innovent Biologics Inc0.73%
Jiangsu Hengrui Medicine Co Ltd0.69%
Yum China Holdings Inc0.64%
Suzhou Dongshan Precision-A0.62%
Pop Mart International Group0.61%
Inner Mongolia Yili Industrial0.60%
Gree Electric Appliances Inc0.57%
Geely Automobile Holdings Ltd0.55%
ANTA Sports Products Ltd0.53%
Wuxi Apptec Co Ltd-H0.53%
Victory Giant Technology -A0.50%
Kuaishou Technology0.49%
Ke Holdings Inc-Cl A0.49%
Muyuan Foodstuff Co Ltd0.49%
Nongfu Spring Co Ltd-H0.47%
Contemporary Amperex Techn-H0.45%
Wus Printed Circuit Kunsha-A0.44%
China Hongqiao Group Ltd0.44%
Chaozhou Three-Circle Group-A0.44%
Akeso Inc0.43%
H World Group Ltd0.43%
ZTO Express Cayman Inc0.41%
SITC International Holdings Co0.40%
Suzhou Tfc Optical Communi-A0.39%

Weight gaps

All 16 Holdings in both funds, largest gap first.

Holding weights in ASHS and CXSE, widest gap first
Holding	More in ASHSMore in CXSE	ASHS	CXSE
Hangzhou Changchuan Technology Co Ltd	ASHS +0.68 points	0.95%	0.27%
Chifeng Jilong Gold Mining Co Ltd	ASHS +0.64 points	0.70%	0.06%
Zhejiang Supcon Technology Ltd A	ASHS +0.56 points	0.60%	0.04%
Shenzhen A (Hk-C)	ASHS +0.54 points	0.60%	0.06%
Hubei Dinglong Co Ltd-A	ASHS +0.51 points	0.53%	0.02%
Ingenic Semiconductor Co Ltd	ASHS +0.49 points	0.54%	0.05%
Sharetronic Data Technology-A	ASHS +0.50 points	0.63%	0.13%
Skyverse Technology Co Ltd-A	ASHS +0.50 points	0.67%	0.17%
Yuanjie Semicon A (Hk-C)	ASHS +0.47 points	0.83%	0.36%
Han's Laser Technology In-A	ASHS +0.46 points	0.54%	0.08%
Cig Shanghai (A) (Sc Sh)	ASHS +0.42 points	0.44%	0.02%
Konfoong Materials International L	ASHS +0.39 points	0.43%	0.04%
RoboTechnik Intelligent Techno	ASHS +0.37 points	0.44%	0.07%
Shenzhen Megmeet Electrical Co. Ltd -A	ASHS +0.36 points	0.40%	0.04%
Shandong Sinocera Functional Material Co Ltd	ASHS +0.36 points	0.39%	0.03%
Shannon Semiconductor Techn Cny 1.0	ASHS +0.30 points	0.39%	0.09%

All 496 ASHS holdings⁠All 205 CXSE holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ASHS vs CXSE Cost

Overpaying ASHS vs CXSE

$6,175

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

ASHS 0.65%
$12,717
CXSE 0.32%
$6,542

Amount$10,000

Years30 years

Cost over time

ASHS 0.65%
CXSE 0.32%
Overpaying

Year by year

Year	ASHS	CXSE	Overpaying
10	$1,163	$580	$583
20	$4,440	$2,250	$2,190
30	$12,717	$6,542	$6,175

Expense ratio

0.65%ASHS
0.32%CXSE, cheaper

CXSE0.32%ASHS0.65%

0.19%5.01%

Middle half of China funds
Median 0.65%

CXSE 2nd cheapest of 28 funds

ASHS 11th cheapest of 28 funds

ASHS vs CXSE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ASHS 0.00%; CXSE 2.22%, better
Payout (12M): ASHS None; CXSE $0.69
Last payment: ASHS No data; CXSE $0.26
Ex-dividend: ASHS No data; CXSE Sep 25, 2026
Paid on: ASHS No data; CXSE Sep 29, 2026
Frequency: ASHS No data; CXSE Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ASHS6 paymentsAll ASHS payments⁠

CXSEQuarterly · 31 paymentsAll CXSE payments⁠

ASHS vs CXSE Risk

Fall from peak · 5 years

ASHS
CXSE

Risk facts

VolatilityStd dev, 3 years: ASHS 29.1%CXSE 24.9%, better
Return per unit of riskSharpe ratio, 3 years: ASHS 0.27, betterCXSE 0.12
Worst fallMax drawdown, 5 years: ASHS −45.5%, betterCXSE −57.6%
Market sensitivityBeta, 5 years: ASHS 0.99CXSE 0.75; Market = 1

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