ASHS vs MCHI: Grades, Fees and Holdings Compared

Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF

ASHSBNYSE Arca

iShares MSCI China ETF

MCHIANasdaq

Overlap

1.8%by weight

Expense ratio

MCHI −0.06pt a year

ASHS0.65%MCHI0.59%

Avg volume · 30D

MCHI 259.5×the volume

ASHS8.62KMCHI2.24M

10Y return · a year

MCHI +1.8pt

ASHS+0.5%MCHI+2.3%

ASHS vs MCHI Performance

Oct 29, 2021 – Oct 30, 2026

−10.1%ASHS−20.6%MCHI

Expense ratio: ASHS 0.65%; MCHI 0.59%, better
Fund size: ASHS $24M; MCHI $5.49B
1Y total return: ASHS −7.5%, better; MCHI −21.3%
Yield (12M): ASHS 0.00%; MCHI 2.23%, better
Holdings: ASHS 495; MCHI 581
Avg volume (30D): ASHS 8.62K sh; MCHI 2.24M sh, better
NAV per share: ASHS $34.58; MCHI $48.89
52W range

ETF.net Grade

Pillar letters and Scores for ASHS, MCHI, with each pillar’s weight
Pillar	ASHS	MCHI
Cost30% weight	C53	A78Higher
Mission25% weight	A75	A87Higher
Risk15% weight	B57	B62Higher
Tradability15% weight	C49	A88Higher
Holdings10% weight	A81Higher	B58
Durability5% weight	B60	A91Higher

Rank among China funds

How we build Categories ›

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

China⁠

Category · 28 funds

See all 28 ›

MCHI ranks 3rd 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 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

MCHIAiShares MSCI 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.

MCHI The default one-ticker way to own China. MCHI has tracked the MSCI China Index since 2011, holding roughly 600 stocks open to international investors, and it stays actively traded.

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.

MCHI The fund seeks to track an index of Chinese equities available to international investors.

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.

MCHI One ticker, roughly 600 Chinese stocks. Instead of picking among share classes and listings, you get the MSCI China Index (Net) in a single line item.ishares.com
0.59% expense ratio, below the middle of the single-country China pack, and the fund has hewed closely to its stated index mandate.
Running since 2011 and now a multi-billion-dollar fund that trades actively, which is why it turns up as the reference China holding in so many portfolios.
One of the stronger implementations in its peer group on tradability and staying power, both scored in the top tier of the 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.

MCHI Cheaper broad-China options exist: FLCH charges 0.19% and JPMorgan's active JCHI 0.15%. You are paying up for MCHI's depth and liquidity.
Single-country equity risk, undiluted. Chinese regulation, currency and policy swings hit the whole basket at once, and the index leans heavily on its biggest names.
Distributions come once or twice a year, not monthly, so cash flow arrives in lumps.

Full ASHS profile⁠

Full MCHI profile⁠

ASHS vs MCHI Holdings

How ASHS and MCHI differ

Overlap by weight

1.8%

Shared holdings make up 37.5% of ASHS and 1.8% of MCHI.

Level by level

Holdings107 in both1.8%
Sector11 Sectors48.9%
Countryby domicile95.8%
Asset classEquity100%

Sector

Sector weights in ASHS and MCHI, widest gap first
Sector	More in ASHSMore in MCHI	ASHS	MCHI
Technology	ASHS +25.6 points	36.1%	10.5%
Consumer Discretionary	MCHI +17.4 points	5.7%	23.1%
Financials	MCHI +15.4 points	6.5%	21.9%
Communication	MCHI +15.1 points	2.3%	17.4%
Industrials	ASHS +11.6 points	17.0%	5.4%
Materials	ASHS +10.9 points	16.1%	5.2%
Health Care	ASHS +2.6 points	8.6%	6.0%
Energy	MCHI +1.4 points	2.4%	3.8%
Real Estate	MCHI +0.9 points	0.7%	1.6%
Consumer Staples	MCHI +0.7 points	2.3%	3.0%
Utilities	ASHS +0.5 points	2.5%	2.0%

Country, concentration and asset class

Country by domicile

Country weights in ASHS and MCHI, widest gap first
Country	More in ASHSMore in MCHI	ASHS	MCHI
China	ASHS +4.1 points	99.6%	95.5%
Hong Kong	MCHI +2.9 points	0.0%	2.9%
United States	MCHI +1.2 points	0.3%	1.6%
Taiwan	ASHS +0.1 points	0.1%	0.0%

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

Concentration

Weight in the 10 largest Holdings

ASHS7.2%
MCHI42.2%

Securities held

ASHS491
MCHI576

Asset class

ASHS: Equity
MCHI: Equity

Holdings

Only in ASHS384
In both107
Only in MCHI469

Only in ASHS

384 securities, 61.9% of ASHS by weight

Hongfa Technology Co A0.50%
Wangsu Science & Technolog-A0.47%
Cig Shanghai (A) (Sc Sh)0.44%
Shenzhen Sunlord Elect A0.41%
Guanghui Energy Co Ltd-A0.41%
Zhejiang Crystal-Optech Co Ltd-A0.38%
Zhejiang Cfmoto Power Co L-A0.37%
Qilu Bank Co Ltd - A0.37%
Beijing Huafeng Test & Control Technology Co Ltd0.37%
Zhejiang Shuanghuan Driveline Co Ltd0.36%
BeOne Medicines Ltd - A0.35%
Centre Testing International Group Co Ltd0.34%
Smartsens Technology Shang-A0.34%
Jiangsu Nata Opto-Electronic-A0.33%
Do-Fluoride Chemical Co Ltd-A0.33%
Gan & Lee Pharmaceuticals Co Ltd0.33%
Talkweb Information System-A0.32%
Yangzhou Yangjie Electronic Technology Co Ltd - A0.32%
Chengtun Mining Group Co Ltd - A0.32%
Shenzhen Capchem Technology Co Ltd0.31%
Yunnan Chihong Zinc & Germ-A0.31%
Leo Group Co Ltd A0.31%
First Capital Securities C-A0.31%
Zhejiang Yinlun Machinery Ltd A0.30%
Hunan Yuneng New Energy Battery Material (A) (SC SZ)0.29%
Jiangsu Hoperun Software C-A0.29%
Beijing Roborock Technology Co Ltd0.29%
Changchun High & New Technology-A0.29%
Pacific Securities Co/The-A0.29%
Jiangsu Changshu Rural Commercial Bank Co Ltd-A0.29%
Jchx Mining Mgmt A(Hk-C)0.29%
Dong-E-E-Jiaoco Ltd-A0.27%
Qingdao TGOOD Electric Co Ltd-A0.27%
Ninebot Ltd0.27%
Huaan Securities Co Ltd-A0.27%
Jiangsu Xinquan Automotive-A0.27%
Shenghe Resources Holding Co Ltd-A0.26%
Asr Microelectronics A0.26%
Jiangxi Zhengbang Technology Co Ltd - A0.26%
Thunder Software Technology Co Ltd0.26%
Suzhou Centec Communications C0.26%
Orbbec Inc A0.26%
Hisense Electric Co Ltd0.26%
Ningbo Joyson A (Hk-C)0.25%
Intco Medical Technology Co - A0.25%
Beijing Oriental Yuhong-A0.25%
Hunan Gold Corp Ltd-A0.25%
Zhejiang Hailiang Co A0.25%
Asia Potash International Investment Guangzhou Co Ltd0.24%
Sinolink Securities Co Ltd0.24%

Only in MCHI

469 securities, 97.6% of MCHI by weight

Tencent Holdings13.21%
Alibaba Group Holding9.14%
China Construction Bank Corp H4.84%
Industrial and Commercial Bank of2.88%
Xiaomi2.54%
Bank of China Ltd H2.30%
Meituan2.02%
Pdd Holdings Ads1.78%
Netease1.75%
Ping An Insurance (Group) Co of Ch1.72%
Byd H1.41%
Jd.com Class A1.29%
Petrochina H1.29%
China Merchants Bank H1.16%
Agricultural Bank of China H1.05%
Trip.com Group1.02%
China Life Insurance Ltd H1.00%
Beone Medicines AG0.99%
Zijin Mining Group Ltd H0.94%
Baidu0.88%
Wuxi Biologics Cayman0.88%
Lenovo Group0.86%
China Shenhua Energy Ltd H0.81%
Kweichow Moutai A0.69%
Yum China Holdings Inc0.67%
Innovent Biologics0.64%
Picc Property and Casualty Ltd H0.63%
China Petroleum and Chemical H0.62%
Anta Sports Products Ltd0.53%
Ke Holdings0.52%
Geely Automobile Holdings Ltd0.51%
China Resources Land0.49%
Kuaishou Technology0.42%
Nongfu Spring Ltd H0.42%
Wuxi Apptec H0.41%
Contemporary Amperex Technology A0.41%
China Pacific Insurance (Group) H0.39%
H World Group Adr0.39%
China Citic Bank Corp Ltd H0.38%
Pop Mart International Group0.38%
China Hongqiao Group Ltd0.36%
China Merchants Bank A0.36%
Cspc Pharmaceutical Group0.36%
Bank of Communications Ltd H0.35%
Zto Express (Cayman) Inc0.34%
Contemporary Amperex Technology Class0.33%
China Mengniu Dairy Ltd0.33%
Citic Ltd0.31%
Akeso Inc0.30%
China Yangtze Power Ltd A0.29%

Weight gaps

The 100 widest of 107 Holdings in both funds.

Holding weights in ASHS and MCHI, widest gap first
Holding	More in ASHSMore in MCHI	ASHS	MCHI
Hangzhou Changchuan Technology Co Ltd	ASHS +0.91 points	0.95%	0.04%
Yuanjie Semicon A (Hk-C)	ASHS +0.80 points	0.83%	0.03%
Hwatsing Technology Co A	ASHS +0.80 points	0.83%	0.03%
Hua Hong Semiconductor Ltd	ASHS +0.68 points	0.70%	0.02%
Chifeng Jilong Gold Mining Co Ltd	ASHS +0.68 points	0.70%	0.02%
Skyverse Technology Co Ltd-A	ASHS +0.64 points	0.67%	0.03%
Raytron Technology Co Ltd	ASHS +0.62 points	0.65%	0.03%
Accelink Technologies Co Ltd-A	ASHS +0.62 points	0.65%	0.03%
Shenzhen Fastprint Circuit-A	ASHS +0.61 points	0.63%	0.02%
Sharetronic Data Technology-A	ASHS +0.60 points	0.63%	0.03%
Shenzhen A (Hk-C)	ASHS +0.58 points	0.60%	0.02%
Zhejiang Supcon Technology Ltd A	ASHS +0.58 points	0.60%	0.02%
Bank of Suzhou Co Ltd	ASHS +0.54 points	0.56%	0.02%
Han's Laser Technology In-A	ASHS +0.53 points	0.54%	0.01%
Pharmaron Beijing Co Ltd	ASHS +0.52 points	0.55%	0.03%
Ingenic Semiconductor Co Ltd	ASHS +0.52 points	0.54%	0.02%
Shenzhen Sunway Communication Co Ltd	ASHS +0.51 points	0.53%	0.02%
BlueFocus Communication Group-A	ASHS +0.50 points	0.52%	0.02%
Hubei Dinglong Co Ltd-A	ASHS +0.51 points	0.53%	0.02%
Tianshui Huatian Tech A	ASHS +0.49 points	0.51%	0.02%
Amlogic Shanghai Co Ltd	ASHS +0.45 points	0.46%	0.01%
China Minmetals Rare A	ASHS +0.44 points	0.46%	0.02%
United Nova Technology (A) (SC SH)	ASHS +0.43 points	0.45%	0.02%
RoboTechnik Intelligent Techno	ASHS +0.42 points	0.44%	0.02%
Konfoong Materials International L	ASHS +0.41 points	0.43%	0.02%
Leader Harmonious Drive Sy-A	ASHS +0.40 points	0.42%	0.02%
Shenzhen Megmeet Electrical Co. Ltd -A	ASHS +0.38 points	0.40%	0.02%
Shandong Sinocera Functional Material Co Ltd	ASHS +0.38 points	0.39%	<0.01%
Wintime Energy Co Ltd-A	ASHS +0.38 points	0.39%	0.01%
EverProX Technologies (A) (SC SZ)	ASHS +0.38 points	0.39%	0.01%
Advanced Fiber A(Hk-C)	ASHS +0.38 points	0.40%	0.02%
Shannon Semiconductor Techn Cny 1.0	ASHS +0.37 points	0.39%	0.02%
Shanghai 2345 Network Hold-A	ASHS +0.37 points	0.38%	0.01%
Kingsemi Co Ltd	ASHS +0.36 points	0.38%	0.02%
Sangfor Technologies Inc	ASHS +0.37 points	0.39%	0.02%
Shenzhen Kedali Industry Co Ltd	ASHS +0.36 points	0.38%	0.02%
Yangtze Optical Fibre And Cable Joint Stock Ltd Co - A	ASHS +0.36 points	0.39%	0.03%
Henan Shijia Photons Technology (A) (SC SH)	ASHS +0.35 points	0.37%	0.02%
Anji Microelectronics Technology A	ASHS +0.36 points	0.37%	0.01%
Tongkun Group Co Ltd-A	ASHS +0.36 points	0.38%	0.02%
SooChow Securities Co Ltd	ASHS +0.35 points	0.37%	0.02%
Shenzhen Kaifa Technology Co Ltd	ASHS +0.35 points	0.37%	0.02%
Founder Technology Group -A	ASHS +0.34 points	0.36%	0.02%
Zhejiang Longsheng Group C-A	ASHS +0.35 points	0.36%	0.01%
Gem Co Ltd-A	ASHS +0.35 points	0.36%	0.01%
Yunnan Energy New Material Co Ltd	ASHS +0.33 points	0.35%	0.02%
Hubei Feilihua Quartz Glass Co Ltd	ASHS +0.33 points	0.34%	0.01%
Hengyi Petrochemical Co -A	ASHS +0.31 points	0.33%	0.02%
Asymchem Laboratories Tian Jin Co Ltd - A	ASHS +0.31 points	0.33%	0.02%
China Xd Electric Co A	ASHS +0.32 points	0.34%	0.02%
Jiangsu Etern A (Hk-C)	ASHS +0.32 points	0.33%	0.01%
Kingnet Network Co Ltd	ASHS +0.32 points	0.33%	0.01%
Kingfa Sci & Tech Co Ltd	ASHS +0.32 points	0.33%	0.01%
Shenzhen Everwin Precision-A	ASHS +0.32 points	0.33%	0.01%
Sinomine Resource Group Co Ltd	ASHS +0.30 points	0.31%	<0.01%
Lomon Billions Group Co -A	ASHS +0.30 points	0.31%	0.01%
Sunwoda Electronic Co Ltd	ASHS +0.29 points	0.30%	0.01%
Bank of Changsha Co Ltd - A	ASHS +0.28 points	0.30%	0.02%
Shandong Sun Paper Industry JS-A	ASHS +0.29 points	0.30%	0.01%
Changjiang Securities Co L-A	ASHS +0.28 points	0.29%	0.01%
APT Medical Inc-A	ASHS +0.27 points	0.29%	0.02%
Caitong Securities Co Ltd - A	ASHS +0.28 points	0.29%	0.01%
Yunnan Tin Co Ltd-A	ASHS +0.28 points	0.29%	0.01%
Tianfeng Securities Co Ltd - A	ASHS +0.27 points	0.28%	0.01%
Jiangsu Yoke Tech A	ASHS +0.27 points	0.28%	0.01%
Fiberhome Telecommunication Technologies Co Ltd (A)	ASHS +0.27 points	0.28%	0.01%
Angel Yeast Co Ltd	ASHS +0.27 points	0.28%	0.01%
Shanghai Allist Pharmaceuticals (A) (SC SH)	ASHS +0.25 points	0.27%	0.02%
Wuhan Jingce Electronic Gr-A	ASHS +0.26 points	0.27%	0.01%
Shanghai RAAS Blood Products Co Ltd-A	ASHS +0.26 points	0.27%	0.01%
Shanghai Putailai New Energy Technology Co Ltd - A	ASHS +0.25 points	0.27%	0.02%
Chongqing Polycomp International C	ASHS +0.25 points	0.27%	0.02%
Suzhou Maxwell Technologies Co Ltd	ASHS +0.25 points	0.26%	0.01%
Suzhou TA&A Ultra Clean Technology Co Ltd Class A	ASHS +0.24 points	0.25%	0.01%
Western Superconducting Technologies Co Ltd - A	ASHS +0.23 points	0.24%	0.01%
Ningbo Orient Wires & Cables Co Ltd	ASHS +0.23 points	0.24%	0.01%
Shanxi Xishan Coal & Electricity Co Ltd-A	ASHS +0.22 points	0.24%	0.02%
Wuhan Guide Infrared Co Ltd	ASHS +0.21 points	0.23%	0.02%
Beijing New Building Materials-A	ASHS +0.21 points	0.22%	0.01%
Shanxi Lu'an Environmental-A	ASHS +0.20 points	0.22%	0.02%
BOC International China Co Ltd - A	ASHS +0.21 points	0.22%	0.01%
Shenergy Company Limited-A	ASHS +0.20 points	0.22%	0.02%
QuantumCTek Co Ltd-A	ASHS +0.21 points	0.22%	0.01%
Wanxiang Qianchao Co Ltd-A	ASHS +0.21 points	0.22%	0.01%
Datang Intl Power A	ASHS +0.20 points	0.22%	0.02%
China National Software & Service Co Ltd (A)	ASHS +0.20 points	0.21%	<0.01%
Zhejiang Huafeng Spandex Co Ltd-A	ASHS +0.19 points	0.21%	0.02%
Guoyuan Securities Co Ltd-A	ASHS +0.20 points	0.21%	0.01%
Remegen Co Ltd-A	ASHS +0.20 points	0.21%	0.01%
Shanghai Electric Power Co-A	ASHS +0.19 points	0.20%	0.01%
Shanghai Friendess Electronic Technology Corp Ltd - A	ASHS +0.19 points	0.21%	0.02%
Inner Mongolia Junzheng En-A	ASHS +0.18 points	0.20%	0.02%
Haohua Chemical Science & Technology Corp Ltd	ASHS +0.19 points	0.20%	0.01%
Guangdong Dtech Technology Ltd A	ASHS +0.18 points	0.20%	0.02%
Jinduicheng Molybdenum Co Ltd	ASHS +0.18 points	0.20%	0.02%
Cict Mobile Communication Technology Co Ltd	ASHS +0.17 points	0.18%	0.01%
CNGR Advanced Material Co Ltd	ASHS +0.17 points	0.18%	0.01%
Baiyin Nonferrous Group Co Ltd	ASHS +0.16 points	0.17%	0.01%
Grace Fabric Technology Ltd A	ASHS +0.16 points	0.17%	0.01%
Zhuzhou CRRC Times Electric Co Ltd - A	ASHS +0.14 points	0.15%	<0.01%

All 496 ASHS holdings⁠All 577 MCHI 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 MCHI Cost

Overpaying ASHS vs MCHI

$1,082

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

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

Amount$10,000

Years30 years

Cost over time

ASHS 0.65%
MCHI 0.59%
Overpaying

Year by year

Year	ASHS	MCHI	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%MCHI, cheaper

MCHI0.59%ASHS0.65%

0.19%5.01%

Middle half of China funds
Median 0.65%

MCHI 5th cheapest of 28 funds

ASHS 11th cheapest of 28 funds

ASHS vs MCHI Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ASHS 0.00%; MCHI 2.23%, better
Payout (12M): ASHS None; MCHI $1.10
Last payment: ASHS No data; MCHI $0.36
Ex-dividend: ASHS No data; MCHI Jun 15, 2026
Paid on: ASHS No data; MCHI Jun 18, 2026
Frequency: ASHS No data; MCHI Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

ASHS6 paymentsAll ASHS payments⁠

MCHITwice a year · 19 paymentsAll MCHI payments⁠

ASHS vs MCHI Risk

Fall from peak · 5 years

ASHS
MCHI

Risk facts

VolatilityStd dev, 3 years: ASHS 29.1%MCHI 21.2%, better
Return per unit of riskSharpe ratio, 3 years: ASHS 0.27, betterMCHI 0.26
Worst fallMax drawdown, 5 years: ASHS −45.5%, betterMCHI −49.2%
Market sensitivityBeta, 5 years: ASHS 0.99MCHI 0.63; Market = 1

ASHS and MCHI in the news

All news⁠

Deep Dive
Korea's 3.9% drop split two kinds of emerging-markets fund
Sep 20, 2026MCHI
News
He Lifeng to lead five-day U.S. trade talks before Washington summit
Sep 19, 2026MCHI
News
PBOC's Pan says slower loan growth is China's new normal, not a miss to reverse
Sep 16, 2026MCHI
News
Beijing ends Trip.com's hotel exclusivity as international revenue grows more than 50%
Sep 15, 2026MCHI
News
Bessent tells House he will press China this weekend to cut Iran oil ties
Sep 15, 2026MCHI
News
China's factory output rises 5.2% as retail sales stall and investment falls 7.2%
Sep 15, 2026MCHI

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ASHS vs MCHI

In short

Stated mandate

Why people hold it