At a glance
ASHR charges 0.65% a year, above the 0.48% average of the 6 funds most like it (the most expensive of 7). It has $1.91B in assets, the 2nd largest of that group; it paid 2.47% of its price in distributions over the past 12 months, annual. Over the past year it returned −6.2% with distributions reinvested (S&P 500: +11.5%), 2nd of those 7 funds; over three years it returned +9.8% a year. At its worst it fell 18.2% in the 2020 crash (S&P 500: 33.7%) and 32.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 43 months after the lows. Its ten largest positions make up 19.6% of the fund, out of 520 in all.
The short version
Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR), from DWS, tracks the CSI 300 Index. The index holds the 300 largest and most liquid stocks listed on mainland China's exchanges, known as A-shares. The fund buys these shares directly, through Hong Kong's Stock Connect link and its subadvisor's Chinese license. Its 0.65% expense ratio is the highest of seven similar funds compared. Its net assets of about $1.9 billion as of May 29, 2026, rank second.
Price history
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ASHR -6.2% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| ASHR official prospectus, to Dec 31, 2025 | — | +26.79% | — | -2.39% | +2.89% | — |
| ASHR price data to Oct 27, 2026 | -6.3% | -6.2% | +9.8% | -3.0% | +3.5% | +4.8% |
- Over the year to Oct 27, 2026, ASHR returned -6.2%, 2nd of 7 among similar funds.
- Its 5-year annualized return was -3.0% and its 10-year +3.5%.
- In the 2020 COVID crash it fell 18.2% and regained its old high 3.4 months after the low.
- Its worst full calendar year was 2018 (-28.4%); its best was 2014 (+51.3%).
- The deepest fall in its price history was 51.3% (Feb 17, 2021 to Feb 2, 2024), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -6.3% | — |
| 2025 | +27.0% | +26.79% |
| 2024 | +11.9% | +12.55% |
| 2023 | -12.5% | -13.07% |
| 2022 | -27.5% | -26.98% |
| 2021 | -1.6% | -2.17% |
| 2020 | +36.3% | +37.42% |
| 2019 | +36.5% | +35.57% |
| 2018 | -28.4% | -28.05% |
| 2017 | +33.5% | +31.81% |
| 2016 | -15.6% | -15.06% |
| 2015 | -2.5% | — |
| 2014 | +51.3% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 13.9% over that stretch · deepest drop along the way 18.2%, back to its old high 3.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 31.8% over that stretch · deepest drop along the way 32.4%, back to its old high 43 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.7600 | +153.3% |
| 2024 | $0.3000 | -49.2% |
| 2023 | $0.5900 | +84.4% |
| 2022 | $0.3200 | -8.6% |
| 2021 | $0.3500 | +9.4% |
| 2020 | $0.3200 | +10.3% |
| 2019 | $0.2900 | 0.0% |
| 2018 | $0.2900 | +11.5% |
| 2017 | $0.2600 | +52.9% |
| 2016 | $0.1700 | -98.0% |
| 2015 | $8.4300 | +8330.0% |
| 2014 | $0.1000 |
What's inside
As of May 29, 2026, the fund held 520 securities; the ten largest made up 19.65% of assets.
| Holding | Weight | |
|---|---|---|
| ZHONGJI INNOLIGHT CO LTD | 4.30% | |
| CONTEMPORARY AMPEREX TECHNOLOGY CO LTD | 2.85% | |
| EOPTOLINK TECHNOLOGY INC LTD | 2.62% | |
| KWEICHOW MOUTAI COMPANY LTD | 2.20% | |
| CONTEMPORARY AMPEREX TECHNOLOGY CO LTD | 1.34% | |
| PING AN INSURANCE (GROUP) COMPANY OF CHINA LTD | 1.33% | |
| CAMBRICON TECHNOLOGIES CORP LTD | 1.30% | |
| MIDEA GROUP CO LTD | 1.25% | |
| CHINA MERCHANTS BANK COMPANY LTD | 1.24% | |
| ZIJIN MINING GROUP CO LTD | 1.21% | |
| SUZHOU DONGSHAN PRECISION MANUFACTURING COMPANY LTD | 1.05% | |
| GIGA DEVICE SEMICONDUCTOR INC | 0.99% | |
| LUXSHARE PRECISION INDUSTRY CO LTD | 0.94% | |
| KWEICHOW MOUTAI COMPANY LTD | 0.91% | |
| CHINA YANGTZE POWER CO LTD | 0.89% |
By country
China 99.85%By asset type
Stocks 99.85%What changed recently
- Over the three months to May 29, 2026, investors withdrew a net $6.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -5.94%, +8.82%, +2.99%.
How it works
ASHR follows the CSI 300 Index, which is built to reflect the China A-share market. A-shares are stocks of companies incorporated in mainland China. They trade in renminbi, China's currency, on the Shanghai, Shenzhen and Beijing exchanges. The fund is passive, so no manager picks stocks. It aims for a correlation of 95% or better with the index before fees. It normally keeps at least 80% of net assets in the index's stocks.
Foreign funds can't buy A-shares freely. The advisor, DBX Advisors, works with subadvisor Harvest Global Investments, which holds a Chinese Qualified Foreign Investor (QFI) license. The fund buys through that license and through Stock Connect, a trading link between Hong Kong and the Shanghai and Shenzhen exchanges. Stock Connect caps total net purchases each day, and that cap can limit the fund's buying. The subadvisor plans to hold every index stock at its index weight, which is called full replication. If shares are hard to get, it may hold a representative sample instead.
The index is priced in onshore renminbi, but the fund is priced in US dollars, so currency swings affect returns. As of May 29, 2026, the holdings report listed 520 positions, and some companies appeared on more than one line. The top 10 lines made up 19.65% of assets. Portfolio turnover was 53%, according to the prospectus filed September 25, 2026.
What it really costs
- ASHR charges 0.65% a year, versus an average of 0.48% for the similar funds below (7th of 7, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $66 in the first year and $810 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| ASHR | $66 | $208 | $362 | $810 |
In a retirement portfolio
It holds stocks from a single country, swings sharply and has had long, deep losses, so it fits better as a small add-on than as a foundation.
ASHR launched in November 2013, so it has no record from the 2008 crisis. In the 2020 COVID crash it fell 18.2% and recovered by July 2020. In the 2022 bear market it fell 32.4% and took about 43 months, until May 2026, to recover. Its worst calendar year was 2018, when it lost 28.05%. Its deepest drop was 51.3%, from February 2021 to February 2024, and it had not fully recovered as of October 27, 2026. Anyone forced to sell in a slump like that could lock in large losses.
As of October 27, 2026, its trailing yield was 2.47%, paid once a year, so it doesn't provide steady income. Its 0.65% expense ratio is above the 0.48% average of similar funds. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want direct exposure to mainland China's largest A-share companies, such as Kweichow Moutai and CATL, as a small part of a portfolio.
- Investors who prefer an established A-share fund, launched in 2013, with about $1.9 billion in net assets as of May 29, 2026.
- Long-term holders who could sit through drops like the 51.3% fall from February 2021 to February 2024 without needing to sell.
Look elsewhere if
- Cost-focused investors: its 0.65% expense ratio is the highest of seven similar funds, compared with 0.19% for Franklin FTSE China ETF (FLCH).
- Retirees who want regular income: it pays once a year, and its trailing yield was 2.47% as of October 27, 2026.
- Investors uneasy with trading halts, Chinese government intervention, renminbi swings and a fund that depends on its subadvisor's QFI license.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| ASHR this fund | — | 0.65% | $1.91B | -6.2% | +9.8% |
| CNYA iShares MSCI China A ETF | 32% | 0.6% | $200.5M | -8.4% | +8.5% |
| KBA KraneShares Bosera MSCI China A 50 Connect … | 18% | 0.56% | $156.4M | -5.7% | +12.9% |
| CXSE WisdomTree China ex-State-Owned Enterprises… | 18% | 0.32% | $498.9M | -25.4% | +5.6% |
| GXC SPDR S&P China ETF | 16% | 0.59% | $434.9M | -20.8% | +8.5% |
| FLCH Franklin FTSE China ETF | 15% | 0.19% | $248.7M | -22.9% | +8.8% |
| MCHI iShares MSCI China ETF | 14% | 0.59% | $6.33B | -23.7% | +8.1% |
Questions investors ask
What does ASHR invest in?
ASHR holds mainland Chinese stocks from the CSI 300 Index, which covers the 300 largest and most liquid A-shares. As of May 29, 2026, its largest positions included Zhongji Innolight (4.3%), Contemporary Amperex Technology (CATL, about 4.2% across two lines), Kweichow Moutai (about 3.1% across two lines) and Eoptolink Technology (2.6%). The top 10 lines made up 19.65% of the fund, and nearly all assets were in Chinese stocks.
Is ASHR too risky for retirement?
ASHR carries more risk than a broad, diversified stock fund. Its worst drop was 51.3%, from February 2021 to February 2024, and it had not fully recovered as of October 27, 2026. After the 2022 bear market, it took about 43 months to recover. It also costs 0.65% a year, or $66 in the first year and $810 over 10 years in the SEC's standard $10,000 example. Some investors use it as a small satellite holding.
What's the difference between ASHR and CNYA?
Both funds own mainland China A-shares, and CNYA (iShares MSCI China A ETF) is ASHR's closest match by holdings overlap. ASHR tracks the CSI 300 Index, while CNYA tracks an MSCI China A index. CNYA costs 0.60% compared with ASHR's 0.65%. It is also much smaller, with about $200 million in net assets as of July 31, 2026. As of October 27, 2026, ASHR returned −6.2% over one year and 9.8% a year over three years. CNYA returned −8.4% and 8.5% over the same periods.
Does ASHR pay a dividend?
Yes, but only once a year. Over the 12 months to October 27, 2026, it paid about $0.76 per share, a trailing yield of 2.47%. Because it pays annually, it doesn't provide steady monthly or quarterly income. The prospectus notes that China generally withholds 10% tax on dividends paid to nonresident enterprises, and uncertain Chinese tax rules could create unexpected tax costs for the fund.
How has ASHR performed over 10 years?
ASHR's long-term returns have been modest and uneven. According to its prospectus, it returned 2.89% a year over the 10 years ending December 31, 2025, and −2.39% a year over five years. Calendar years ranged from a 26.98% loss in 2022 to a 37.42% gain in 2020, and it returned 26.79% in 2025. Based on its share price, its 10-year return was 3.5% a year as of October 27, 2026.