Xtrackers Harvest CSI 300 China A-Shares
ALTAR
Score™
9.2% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
12.5x P/Sales
ratio
1.2x
P/BV
ratio
1.6x Div.
yield
2.6%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Xtrackers Harvest CSI 300 China A-Shares Fund is an exchange-traded fund incorporated in the USA. The fund seeks to track the performance of the CSI 300 Index. Through the use of an RQFII quota ASHR is able to offer US investors direct access to Chinese A-Shares which are listed on the Shenzen and Shanghai Stock Exchanges.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Deutsche Bank AG
Website www.DBXUS.com
Inception date Nov 06, 2013
Assets (mns) $1,720
Currency USD
Expense ratio 65 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 300
Wgt avg mkt cap (mns) $56,354
Large cap (>$10bn) 74.2%
Mid cap ($2-10bn) 25.7%
Small cap (<$2bn) 0.1%
Developed mkts 9.3%
Emerging mkts 90.7%

TOP TEN HOLDINGS
PING AN INSURANCE (GROUP) COMPANY 7.5 %
KWEICHOW MOUTAI CO LTD-A 4.9 %
CHINA MERCHANTS BANK -A 3.0 %
JIANGSU HENGRUI MEDICINE CO., LTD. 2.3 %
GREE ELECTRIC APPLIANCES I-A 2.2 %
INDUSTRIAL BANK CO LTD -A 2.2 %
GD MIDEA HOLDING CO LTD -A 2.2 %
WULIANGYE YIBIN CO LTD-A 2.0 %
INNER MONGOLIA YILI INDUSTRIAL GRO 1.4 %
CITIC SECURITIES CO-A 1.4 %
Total 29.1 %

TOP COUNTRY EXPOSURE
CHINA 97.2 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
27.3% 21.8% 7.1% -- 6.5%

Market Correlations
versus... Beta R-squared
S&P500 1.05 40%
MSCI EAFE 1.13 40%
MSCI Emg. Mkts. 1.00 51%

Technical Indicators
Recent close $28.19
30d moving avg. $28.14
Annualized volatility 19.9%
Short interest (ETF) 15.6%
Relative strength (RSI) 57

Liquidity measures
Avg. volume (thou.) 2,624
Turnover 4.3%
Bid/Ask (% of price) 0.04%
ADV underlying (mns) $13,444

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Xtrackers Harvest CSI 300 China A-Shares ETF based on the alternatives' overlap in portfolio holdings with ASHR. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ASHR Expense: 65 bp ALTAR Score™: 9.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ASHR
Ticker Fund
Name
Overlap1
vs ASHR
(%)
Expense
ratio
(bp)
Savings
vs ASHR
(bp)
ALTAR
Score™
(%)
ALTAR
vs ASHR
(%)
PEK VanEck Vectors ChinaAMC A-Shares 96.4 60 5 9.3 +0.0
ASHX Xtrackers MSCI China A Inclusion 79.4 60 5 9.3 +0.1
CNYA iShares MSCI China A 78.9 65 0 9.2 -0.0
KBA KraneShares MSCI China A Int'l 76.1 60 5 8.9 -0.4
CNHX CSOP MSCI China A International Hedged 75.0 79 -14 9.3 +0.1
AFTY CSOP FTSE China A50 51.6 70 -5 11.1 +1.8
WCHN WisdomTree ICBCCS S&P China 500 44.6 55 10 9.2 -0.0
KALL KraneShares MSCI China All Shares 34.1 49 16 9.2 -0.0
KFYP KraneShares CICC China Leaders 100 28.8 70 -5 11.8 +2.6
CXSE WisdomTree China ex-State Owned Enterprises 22.4 32 33 7.3 -2.0
CHIL Global X MSCI China Large-Cap 50 21.1 29 36 10.7 +1.4
CNXT VanEck Vectors China AMC SME-ChiNext 14.4 65 0 5.5 -3.8
CHIX Global X MSCI China Financials 13.1 65 0 19.6 +10.3
CHIS Global X MSCI China Consumer Staples 12.9 65 0 3.2 -6.1
GXC SPDR S&P China ETF 11.3 59 6 9.3 +0.1
CHII Global X MSCI China Industrials 9.2 66 -1 13.8 +4.6
OBOR KraneShares MSCI One Belt One Road Index 8.2 79 -14 9.3 +0.1
FLCH Franklin FTSE China 7.4 19 46 10.1 +0.9
MCHI iShares MSCI China 7.4 59 6 9.5 +0.3
CHIK Global X MSCI China Information Technology 6.9 65 0 5.4 -3.9

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Xtrackers Harvest CSI 300 China A-Shares
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.7 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 9.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.42 CATEGORY
AVERAGE
1.49
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.