ASHS vs GXC: Grades, Fees and Holdings Compared

Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF

ASHSBNYSE Arca

State Street SPDR S&P China ETF

GXCANYSE Arca

Overlap

2.9%by weight

Expense ratio

GXC −0.06pt a year

ASHS0.65%GXC0.59%

Avg volume · 30D

GXC 2.7×the volume

ASHS8.62KGXC23.4K

10Y return · a year

GXC +2.1pt

ASHS+0.5%GXC+2.6%

ASHS vs GXC Performance

Oct 29, 2021 – Oct 30, 2026

−10.1%ASHS−18.2%GXC

Expense ratio: ASHS 0.65%; GXC 0.59%, better
Fund size: ASHS $24M; GXC $421M
1Y total return: ASHS −7.5%, better; GXC −19.1%
Yield (12M): ASHS 0.00%; GXC 2.46%, better
Holdings: ASHS 495; GXC 1539
Avg volume (30D): ASHS 8.62K sh; GXC 23.4K sh, better
NAV per share: ASHS $34.58; GXC $80.17
52W range

ETF.net Grade

Pillar letters and Scores for ASHS, GXC, with each pillar’s weight
Pillar	ASHS	GXC
Cost30% weight	C53	A78Higher
Mission25% weight	A75	A85Higher
Risk15% weight	B57	B67Higher
Tradability15% weight	C49	B69Higher
Holdings10% weight	A81Higher	A76
Durability5% weight	B60	A84Higher

Rank among China funds

How we build Categories ›

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

China⁠

Category · 28 funds

See all 28 ›

GXC ranks 4th 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 3AMCHIiShares MSCI China ETFScore 77
Rank 4AGXCState Street SPDR S&P China ETFScore 76
Rank 5AKBAKraneShares Bosera MSCI China A 50 Connect Index ETFScore 74
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

GXCAState Street SPDR S&P China ETF

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.

GXC The whole China market in one ticker: roughly 1,400 stocks from megacaps down to small caps, tracked since 2007. Most China funds buy the famous names. GXC buys the phone book.

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.

GXC The fund seeks to provide returns that generally correspond to the total return performance of the S&P China BMI 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.

GXC Holds roughly 1,400 names across large, mid and small caps, so the portfolio reaches well past the handful of megacap internet stocks that dominate narrower China funds.ssga.com
Running since 2007, one of the longest-tenured US-listed China index funds, with a track record covering several full boom and bust cycles in the market.ssga.com
Tracks the S&P China BMI Index tightly and sits in the upper tier of its single-country China peer group on our review.

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.

GXC The 0.59% expense ratio sits at the pricier end of the shelf. Plain index rivals such as FLCH and CXSE charge less for China exposure.
Volume is light next to the category's biggest China funds, so bid-ask spreads can widen. Limit orders are the usual defense.
One country, one policy regime: Chinese regulation, politics and currency moves drive the whole ride, and payouts land only once or twice a year.

Full ASHS profile⁠

Full GXC profile⁠

ASHS vs GXC Holdings

How ASHS and GXC differ

Overlap by weight

2.9%

Shared holdings make up 34.5% of ASHS and 2.9% of GXC.

Level by level

Holdings138 in both2.9%
Sector11 Sectors57.4%
Countryby domicile95.4%
Asset classEquity100%

Sector

Sector weights in ASHS and GXC, widest gap first
Sector	More in ASHSMore in GXC	ASHS	GXC
Technology	ASHS +24.1 points	36.1%	12.0%
Consumer Discretionary	GXC +15.3 points	5.7%	21.0%
Financials	GXC +12.5 points	6.5%	19.0%
Communication	GXC +11.0 points	2.3%	13.3%
Materials	ASHS +9.6 points	16.1%	6.5%
Industrials	ASHS +7.4 points	17.0%	9.6%
Consumer Staples	GXC +1.4 points	2.3%	3.7%
Real Estate	GXC +1.3 points	0.7%	2.0%
Health Care	ASHS +1.2 points	8.6%	7.4%
Energy	GXC +1.0 points	2.4%	3.4%
Utilities	ASHS +0.4 points	2.5%	2.1%

Country, concentration and asset class

Country by domicile

Country weights in ASHS and GXC, widest gap first
Country	More in ASHSMore in GXC	ASHS	GXC
China	ASHS +4.6 points	99.6%	95.0%
Hong Kong	GXC +2.8 points	0.0%	2.8%
United States	GXC +1.3 points	0.3%	1.7%
Other countries (5)	GXC +0.5 points	0.1%	0.6%

Outside the US: ASHS 0% developed, 100% emerging. GXC 3% developed, 97% emerging.

Concentration

Weight in the 10 largest Holdings

ASHS7.2%
GXC32.9%

Securities held

ASHS491
GXC1,533

Asset class

ASHS: Equity
GXC: Equity

Holdings

Only in ASHS353
In both138
Only in GXC1,395

Only in ASHS

353 securities, 64.9% of ASHS by weight

Yuanjie Semicon A (Hk-C)0.83%
Hwatsing Technology Co A0.83%
Hua Hong Semiconductor Ltd0.70%
Chifeng Jilong Gold Mining Co Ltd0.70%
Skyverse Technology Co Ltd-A0.67%
Raytron Technology Co Ltd0.65%
Zhejiang Supcon Technology Ltd A0.60%
Bank of Suzhou Co Ltd0.56%
Hongfa Technology Co A0.50%
Amlogic Shanghai Co Ltd0.46%
United Nova Technology (A) (SC SH)0.45%
Cig Shanghai (A) (Sc Sh)0.44%
Leader Harmonious Drive Sy-A0.42%
Guanghui Energy Co Ltd-A0.41%
Yangtze Optical Fibre And Cable Joint Stock Ltd Co - A0.39%
Wintime Energy Co Ltd-A0.39%
Kingsemi 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%
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%
BeOne Medicines Ltd - A0.35%
Centre Testing International Group Co Ltd0.34%
Smartsens Technology Shang-A0.34%
China Xd Electric Co A0.34%
Jiangsu Etern A (Hk-C)0.33%
Kingfa Sci & Tech Co Ltd0.33%
Shenzhen Everwin Precision-A0.33%
Gan & Lee Pharmaceuticals Co Ltd0.33%
Yangzhou Yangjie Electronic Technology Co Ltd - A0.32%
Chengtun Mining Group Co Ltd - A0.32%
Yunnan Chihong Zinc & Germ-A0.31%
First Capital Securities C-A0.31%
Zhejiang Yinlun Machinery Ltd A0.30%
Bank of Changsha Co Ltd - A0.30%
Shandong Sun Paper Industry JS-A0.30%
Hunan Yuneng New Energy Battery Material (A) (SC SZ)0.29%
APT Medical Inc-A0.29%
Beijing Roborock Technology Co Ltd0.29%
Pacific Securities Co/The-A0.29%
Jiangsu Changshu Rural Commercial Bank Co Ltd-A0.29%
Caitong Securities Co Ltd - A0.29%
Jchx Mining Mgmt A(Hk-C)0.29%

Only in GXC

1,395 securities, 96.6% of GXC by weight

Tencent Holdings Ltd9.22%
Alibaba Group Holding Ltd7.52%
China Construction Bank H4.02%
Ind & Comm Bk of China H2.41%
Bank of China Ltd H2.00%
Pdd Holdings Inc1.91%
Xiaomi Corp Class B1.76%
Meituan Class B1.55%
Ping An Insurance Group Co H1.27%
Netease Inc1.22%
Byd Co Ltd H1.02%
Jd.com Inc Class A1.00%
Petrochina Co Ltd H0.84%
Beone Medicines Ltd0.82%
China Life Insurance Co H0.73%
Trip.com Group Ltd0.72%
Wuxi Biologics Cayman Inc0.69%
China Merchants Bank H0.68%
Baidu Inc Class A Hkd0.68%
Zijin Mining Group Co Ltd H0.68%
Lenovo Group Ltd0.67%
Kweichow Moutai Co Ltd A0.63%
China Shenhua Energy Co H0.58%
Agricultural Bank of China H0.58%
Yum China Holdings Inc0.52%
Innovent Biologics Inc0.50%
Contemporary Amperex Techn A0.45%
Picc Property & Casualty H0.44%
China Petroleum & Chemical H0.41%
Ke Holdings Inc Adr0.39%
Pop Mart International Group0.37%
Anta Sports Products Ltd0.37%
China Resources Land Ltd0.36%
Ind & Comm Bk of China A0.35%
China Merchants Bank A0.35%
Agricultural Bank of China A0.35%
Geely Automobile Holdings Lt0.33%
China Citic Bank Corp Ltd H0.33%
Kuaishou Technology0.32%
Yangzijiang Shipbuilding0.31%
Nongfu Spring Co Ltd H0.31%
Citic Ltd0.30%
Bank of Communications Co H0.30%
China Yangtze Power Co Ltd A0.29%
Cspc Pharmaceutical Group Lt0.28%
Zto Express Cayman Inc Adr0.27%
China Pacific Insurance Gr H0.26%
Foxconn Industrial Interne A0.26%
China Mengniu Dairy Co0.25%
Sitc International Holdings0.25%

Weight gaps

The 100 widest of 138 Holdings in both funds.

Holding weights in ASHS and GXC, widest gap first
Holding	More in ASHSMore in GXC	ASHS	GXC
Hangzhou Changchuan Technology Co Ltd	ASHS +0.90 points	0.95%	0.05%
Accelink Technologies Co Ltd-A	ASHS +0.60 points	0.65%	0.05%
Sharetronic Data Technology-A	ASHS +0.60 points	0.63%	0.03%
Shenzhen Fastprint Circuit-A	ASHS +0.59 points	0.63%	0.04%
Shenzhen A (Hk-C)	ASHS +0.58 points	0.60%	0.02%
Ingenic Semiconductor Co Ltd	ASHS +0.52 points	0.54%	0.02%
Hubei Dinglong Co Ltd-A	ASHS +0.52 points	0.53%	0.01%
Shenzhen Sunway Communication Co Ltd	ASHS +0.51 points	0.53%	0.02%
Han's Laser Technology In-A	ASHS +0.51 points	0.54%	0.03%
BlueFocus Communication Group-A	ASHS +0.49 points	0.52%	0.03%
Pharmaron Beijing Co Ltd	ASHS +0.48 points	0.55%	0.07%
Tianshui Huatian Tech A	ASHS +0.48 points	0.51%	0.03%
Wangsu Science & Technolog-A	ASHS +0.46 points	0.47%	0.01%
RoboTechnik Intelligent Techno	ASHS +0.42 points	0.44%	0.02%
China Minmetals Rare A	ASHS +0.42 points	0.46%	0.04%
Konfoong Materials International L	ASHS +0.40 points	0.43%	0.03%
Shenzhen Sunlord Elect A	ASHS +0.40 points	0.41%	<0.01%
Advanced Fiber A(Hk-C)	ASHS +0.38 points	0.40%	0.02%
EverProX Technologies (A) (SC SZ)	ASHS +0.38 points	0.39%	0.01%
Shanghai 2345 Network Hold-A	ASHS +0.37 points	0.38%	<0.01%
Shenzhen Megmeet Electrical Co. Ltd -A	ASHS +0.37 points	0.40%	0.03%
Shandong Sinocera Functional Material Co Ltd	ASHS +0.37 points	0.39%	0.02%
Shannon Semiconductor Techn Cny 1.0	ASHS +0.36 points	0.39%	0.03%
Sangfor Technologies Inc	ASHS +0.35 points	0.39%	0.04%
Shenzhen Kedali Industry Co Ltd	ASHS +0.35 points	0.38%	0.03%
Gem Co Ltd-A	ASHS +0.34 points	0.36%	0.02%
Shenzhen Kaifa Technology Co Ltd	ASHS +0.34 points	0.37%	0.03%
Hengyi Petrochemical Co -A	ASHS +0.32 points	0.33%	<0.01%
Jiangsu Nata Opto-Electronic-A	ASHS +0.32 points	0.33%	<0.01%
Yunnan Energy New Material Co Ltd	ASHS +0.32 points	0.35%	0.03%
Hubei Feilihua Quartz Glass Co Ltd	ASHS +0.31 points	0.34%	0.03%
Talkweb Information System-A	ASHS +0.31 points	0.32%	0.01%
Do-Fluoride Chemical Co Ltd-A	ASHS +0.31 points	0.33%	0.02%
Shenzhen Capchem Technology Co Ltd	ASHS +0.30 points	0.31%	0.01%
Leo Group Co Ltd A	ASHS +0.30 points	0.31%	<0.01%
Sinomine Resource Group Co Ltd	ASHS +0.30 points	0.31%	<0.01%
Kingnet Network Co Ltd	ASHS +0.30 points	0.33%	0.03%
Sunwoda Electronic Co Ltd	ASHS +0.28 points	0.30%	0.02%
Asymchem Laboratories Tian Jin Co Ltd - A	ASHS +0.28 points	0.33%	0.05%
Lomon Billions Group Co -A	ASHS +0.28 points	0.31%	0.03%
Yunnan Tin Co Ltd-A	ASHS +0.28 points	0.29%	<0.01%
Changchun High & New Technology-A	ASHS +0.28 points	0.29%	0.01%
Jiangsu Hoperun Software C-A	ASHS +0.27 points	0.29%	0.02%
Jiangsu Yoke Tech A	ASHS +0.25 points	0.28%	0.03%
Wuhan Jingce Electronic Gr-A	ASHS +0.25 points	0.27%	0.02%
Dong-E-E-Jiaoco Ltd-A	ASHS +0.24 points	0.27%	0.03%
Changjiang Securities Co L-A	ASHS +0.24 points	0.29%	0.05%
Thunder Software Technology Co Ltd	ASHS +0.24 points	0.26%	0.02%
Shanghai RAAS Blood Products Co Ltd-A	ASHS +0.24 points	0.27%	0.03%
Hunan Gold Corp Ltd-A	ASHS +0.24 points	0.25%	<0.01%
Suzhou Maxwell Technologies Co Ltd	ASHS +0.24 points	0.26%	0.02%
T&S Communications Ltd A	ASHS +0.23 points	0.24%	<0.01%
Beijing Oriental Yuhong-A	ASHS +0.23 points	0.25%	0.02%
Qingdao TGOOD Electric Co Ltd-A	ASHS +0.23 points	0.27%	0.04%
Suzhou TA&A Ultra Clean Technology Co Ltd Class A	ASHS +0.23 points	0.25%	0.02%
Guangzhou Haige Communicat-A	ASHS +0.22 points	0.24%	0.02%
Intco Medical Technology Co - A	ASHS +0.22 points	0.25%	0.03%
Asia Potash International Investment Guangzhou Co Ltd	ASHS +0.22 points	0.24%	0.02%
Shanxi Xishan Coal & Electricity Co Ltd-A	ASHS +0.22 points	0.24%	0.02%
Zhejiang Hailiang Co A	ASHS +0.22 points	0.25%	0.03%
Walvax Biotechnology Co Ltd - A	ASHS +0.20 points	0.22%	0.02%
Guangzhou Shiyuan Electron-A	ASHS +0.21 points	0.23%	0.02%
Hang Zhou Great Star Industrial-A	ASHS +0.20 points	0.23%	0.03%
Beijing New Building Materials-A	ASHS +0.20 points	0.22%	0.02%
Digital China Group Co Ltd-A	ASHS +0.19 points	0.21%	0.02%
Siasun Robot & Automation-A	ASHS +0.19 points	0.22%	0.03%
Beijing Ultrapower Softwar-A	ASHS +0.18 points	0.19%	<0.01%
Sunresin New Materials A	ASHS +0.19 points	0.22%	0.03%
Wuhan Guide Infrared Co Ltd	ASHS +0.18 points	0.23%	0.05%
Jiangsu Yuyue Medical Equipment & Supply Co Ltd	ASHS +0.18 points	0.21%	0.03%
Sigmastar Technology Ltd-A	ASHS +0.18 points	0.19%	<0.01%
Avic Aero-Engine Controls-A	ASHS +0.18 points	0.20%	0.02%
Jl Mag Rare-Earth Co Ltd	ASHS +0.18 points	0.21%	0.03%
Beijing Easpring Material Technology Co Ltd	ASHS +0.17 points	0.18%	<0.01%
Hebei Sinopack Electronic Technology Co Ltd	ASHS +0.18 points	0.19%	0.01%
Inner Mongolia Yuan Xing Energy Co Ltd - A	ASHS +0.17 points	0.19%	0.02%
Shenzhen SC New Energy Technology Corp	ASHS +0.17 points	0.18%	0.01%
CNGR Advanced Material Co Ltd	ASHS +0.17 points	0.18%	0.01%
XJ Electric Co Ltd-A	ASHS +0.17 points	0.20%	0.03%
Hengdian Group DMEGC Magnetics-A	ASHS +0.16 points	0.18%	0.02%
Yongxing Special Materials Technology Co Ltd Class A	ASHS +0.16 points	0.17%	<0.01%
Meinian Onehealth A	ASHS +0.16 points	0.18%	0.02%
Guoyuan Securities Co Ltd-A	ASHS +0.16 points	0.21%	0.05%
Bohai Financial Investment Holding Co Ltd	ASHS +0.16 points	0.21%	0.05%
Perfect World Co Ltd-A	ASHS +0.16 points	0.18%	0.02%
Western Securities Co Ltd-A	ASHS +0.16 points	0.19%	0.03%
Wanda Cinema Line Co Ltd-A	ASHS +0.16 points	0.18%	0.02%
Hangzhou Oxygen Plant A	ASHS +0.15 points	0.17%	0.02%
Guangdong Hongda Blast A	ASHS +0.16 points	0.20%	0.04%
China Zhenhua Group Science & Technology Co Ltd - A	ASHS +0.15 points	0.17%	0.02%
China Baoan Group-A	ASHS +0.15 points	0.16%	<0.01%
Weihai Guangwei Composites Co Ltd	ASHS +0.15 points	0.16%	0.01%
Hualan Biological Engineering-A	ASHS +0.15 points	0.17%	0.02%
Fujian Newland Computer Co-A	ASHS +0.14 points	0.15%	<0.01%
Shenzhen Hans CNC Technology Co Ltd	ASHS +0.14 points	0.15%	<0.01%
Shijiazhuang Yiling Pharmaceuticals-A	ASHS +0.14 points	0.16%	0.02%
Beijing Yanjing Brewery Co Ltd	ASHS +0.14 points	0.18%	0.04%
Shenzhen Mtc Co A	ASHS +0.14 points	0.18%	0.04%
BGI Genomics Co Ltd	ASHS +0.14 points	0.15%	0.01%
Sichuan New Energy Power Co Ltd	ASHS +0.14 points	0.15%	<0.01%

All 496 ASHS holdings⁠All 1,547 GXC 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 GXC Cost

Overpaying ASHS vs GXC

$1,082

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

ASHS 0.65%
$12,717
GXC 0.59%
$11,635

Amount$10,000

Years30 years

Cost over time

ASHS 0.65%
GXC 0.59%
Overpaying

Year by year

Year	ASHS	GXC	Overpaying
10	$1,163	$1,058	$105
20	$4,440	$4,051	$389
30	$12,717	$11,635	$1,082

Expense ratio

0.65%ASHS
0.59%GXC, cheaper

GXC0.59%ASHS0.65%

0.19%5.01%

Middle half of China funds
Median 0.65%

GXC 5th cheapest of 28 funds

ASHS 11th cheapest of 28 funds

ASHS vs GXC Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ASHS 0.00%; GXC 2.46%, better
Payout (12M): ASHS None; GXC $1.99
Last payment: ASHS No data; GXC $0.67
Ex-dividend: ASHS No data; GXC Jun 22, 2026
Paid on: ASHS No data; GXC Jun 26, 2026
Frequency: ASHS No data; GXC Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

ASHS6 paymentsAll ASHS payments⁠

GXCTwice a year · 19 paymentsAll GXC payments⁠

ASHS vs GXC Risk

Fall from peak · 5 years

ASHS
GXC

Risk facts

VolatilityStd dev, 3 years: ASHS 29.1%GXC 20.7%, better
Return per unit of riskSharpe ratio, 3 years: ASHS 0.27GXC 0.27
Worst fallMax drawdown, 5 years: ASHS −45.5%, betterGXC −46.5%
Market sensitivityBeta, 5 years: ASHS 0.99GXC 0.69; Market = 1

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