Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF
ALTAR
Score™		 4.8% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 21.5x P/Sales
ratio		 1.5x
P/BV
ratio		 2.0x Div.
yield		 1.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Xtrackers Harvest CSI 500 China-A Shares Small Cap Fund is an exchange-traded fund incorporated in the USA. The Fund seeks to track the performance of the CSI 500 Net Total Return Index USD.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor Harvest Global Investments Ltd
Website www.DBXUS.com
Inception date May 21, 2014
Assets (mns) $29
Currency USD
Expense ratio 65 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 497
Wgt avg mkt cap (mns) $3,417
Large cap (>$10bn) 1.9%
Mid cap ($2-10bn) 92.9%
Small cap (<$2bn) 5.1%
Developed mkts 0.2%
Emerging mkts 99.8%

TOP TEN HOLDINGS
VICTORY GIANT TECHNOLOGY (HUIZHOU) 2.5 %
ANHUI JIANGHUAI AUTO CO-A 1.3 %
SUZHOU DONGSHAN PRECISION MANUFACT 1.2 %
KUANG-CHI TECHNOLOGIES CO., LTD. C 1.0 %
HUAGONG TECH CO., LTD. CLASS A 1.0 %
VERISILICON MICROELECTRONICS (SHAN 0.8 %
GIANT NETWORK GROUP CO. LTD. CLASS 0.7 %
JIANGSU HOPERUN SOFTWARE C-A 0.7 %
SHANGHAI 2345 NETWORK HOLDING GROU 0.7 %
CHIFENG JILONG GOLD MINING CO., LT 0.6 %
Total 10.3 %

TOP COUNTRY EXPOSURE
CHINA 101.3 %
BRITISH VIRGIN ISLANDS 0.2 %









HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
36.1% 27.3% 3.2% 1.6% 4.8%

Market Correlations
versus... Beta R-squared
S&P500 0.50 7%
MSCI EAFE 0.51 9%
MSCI Emg. Mkts. 0.75 23%

Technical Indicators
Recent close $36.81
30d moving avg. $36.55
Annualized volatility 25.2%
Short interest (ETF) 37.6%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 23
Turnover 2.9%
Bid/Ask (% of price) 0.39%
ADV underlying (mns) $24,972

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 95 potential alternatives to the Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF ETF based on the alternatives' overlap in portfolio holdings with ASHS. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ASHS Expense: 65 bp ALTAR Score™: 4.8%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ASHS
Ticker Fund
Name		 Overlap1
vs ASHS
(%)		 Expense
ratio
(bp)		 Savings
vs ASHS
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs ASHS
(%)
TCHI iShares MSCI China Multisector Tech ETF 5.6 59 6 16.1 +11.3
KSTR KraneShares SSE STAR Market 50 Index ETF 4.6 89 -24 1.0 -3.8
OBOR KraneShares MSCI One Belt One Road Index ETF 4.0 79 -14 8.5 +3.7
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 3.9 58 7 10.0 +5.1
WBAT WisdomTree Battery Value Chain and Innovation Fund 3.7 45 20 4.0 -0.8
FLCH Franklin FTSE China ETF 3.5 19 46 15.5 +10.7
DMAT Global X Disruptive Materials ETF 3.4 59 6 6.2 +1.4
CNXT VanEck ChiNext ETF 3.1 65 0 4.0 -0.8
KARS KraneShares Electric Vehicles & Future Mobility Index ETF 2.9 72 -7 -0.9 -5.7
CQQQ Invesco China Technology ETF 2.5 70 -5 12.2 +7.4
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 2.2 44 21 10.6 +5.8
RAYC Rayliant Quantamental China Equity ETF 2.2 80 -15 7.3 +2.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 2.1 45 20 9.9 +5.1
KURE KraneShares MSCI All China Health Care Index ETF 1.9 65 0 2.7 -2.2
CNYA iShares MSCI China A ETF 1.8 60 5 6.2 +1.4
LIMI Themes Lithium & Battery Metal Miners ETF 1.7 35 30 5.3 +0.5
DFEV Dimensional Emerging Markets Value ETF 1.6 43 22 13.1 +8.3
CXSE WisdomTree China ex-State-Owned Enterprises Fund 1.4 32 33 15.7 +10.9
CHIQ Global X MSCI China Consumer Discretionary ETF 1.4 65 0 16.3 +11.5
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 1.3 41 24 8.5 +3.7
GXC SPDR S&P China ETF 1.2 59 6 15.0 +10.2
EV Mast Global Battery Recycling & Production ETF 1.1 65 0 10.6 +5.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 1.1 50 15 10.9 +6.1
DEHP Dimensional Emerging Markets High Profitability ETF 1.1 41 24 6.5 +1.7
VWO Vanguard FTSE Emerging Markets ETF 1.1 7 58 10.0 +5.1
LIT Global X Lithium & Battery Tech ETF 1.1 75 -10 3.8 -1.0
JCHI JPMorgan Active China ETF 1.1 65 0 14.8 +10.0
BKEM BNY Mellon Emerging Markets Equity ETF 1.0 11 54 9.7 +4.9
DFEM Dimensional Emerging Markets Core Equity 2 ETF 1.0 38 27 9.0 +4.2
DFAE Dimensional Emerging Core Equity Market ETF 0.9 35 30 9.0 +4.2
MCH Matthews China Active ETF 0.9 79 -14 13.9 +9.1
FLAX Franklin FTSE Asia Ex Japan ETF 0.8 19 46 8.9 +4.1
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 0.8 59 6 8.7 +3.9
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.7 33 32 9.6 +4.8
KGRN KraneShares MSCI China Clean Technology Index ETF 0.6 79 -14 0.3 -4.5
ILIT iShares Lithium Miners and Producers ETF 0.6 47 18 4.9 +0.1
ZSB USCF Sustainable Battery Metals Strategy Fund 0.6 61 4 6.7 +1.9
IVRS iShares Future Metaverse Tech and Communications ETF 0.6 47 18 2.5 -2.3
AQWA Global X Clean Water ETF 0.5 50 15 4.9 +0.1
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 0.5 15 50 9.9 +5.1
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 0.5 15 50 7.6 +2.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.5 30 35 7.8 +3.0
ION ProShares S&P Global Core Battery Metals ETF 0.4 58 7 8.1 +3.3
ROBO ROBO Global Robotics & Automation Index ETF 0.4 95 -30 3.3 -1.6
CGRO CoreValues Alpha Greater China Growth ETF 0.4 75 -10 4.5 -0.3
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.4 46 19 9.7 +4.9
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 0.4 32 33 8.8 +4.0
ICLN iShares Global Clean Energy ETF 0.4 41 24 4.4 -0.4
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 0.4 25 40 6.5 +1.7
MINV Matthews Asia Innovators Active ETF 0.4 79 -14 7.0 +2.2
VEU Vanguard FTSE All-World ex-US Index Fund 0.4 4 61 8.0 +3.2
GMF SPDR S&P Emerging Asia Pacific ETF 0.3 49 16 9.2 +4.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 0.3 66 -1 9.1 +4.3
VXUS Vanguard Total International Stock ETF 0.3 5 60 7.8 +2.9
VNQI Vanguard Global ex-U.S. Real Estate ETF 0.3 12 53 8.1 +3.3
EMGF iShares Emerging Markets Equity Factor ETF 0.3 25 40 11.3 +6.5
KROP Global X AgTech & Food Innovation ETF 0.3 50 15 2.0 -2.8
BOTT Themes Robotics & Automation ETF 0.3 35 30 3.5 -1.4
EMC Global X Emerging Markets Great Consumer ETF 0.3 75 -10 10.8 +6.0
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 0.3 36 29 9.4 +4.6
ETEC iShares Breakthrough Environmental Solutions ETF 0.3 47 18 3.2 -1.6
VSGX Vanguard ESG International Stock ETF 0.2 10 55 7.5 +2.7
SPEM SPDR Portfolio Emerging Markets ETF 0.2 7 58 10.3 +5.5
EWX SPDR S&P Emerging Markets Small Cap ETF 0.2 65 0 7.8 +3.0
DEM WisdomTree Emerging Markets High Dividend Fund 0.2 63 2 13.7 +8.9
MCHI iShares MSCI China ETF 0.2 59 6 17.1 +12.3
SDEM Global X MSCI SuperDividend Emerging Markets ETF 0.2 67 -2 14.0 +9.2
VSS Vanguard FTSE All-World ex-US Small-Cap ETF 0.2 8 57 6.1 +1.3
COPA Themes Copper Miners ETF 0.2 35 30 4.7 -0.2
GMET VanEck Green Metals ETF 0.2 63 2 7.2 +2.4
GTEK Goldman Sachs Future Tech Leaders Equity ETF 0.2 75 -10 3.0 -1.9
NUEM Nuveen ESG Emerging Markets Equity ETF 0.1 36 29 7.6 +2.8
VYMI Vanguard International High Dividend Yield ETF 0.1 17 48 9.6 +4.8
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 0.1 30 35 9.0 +4.2
BKF iShares MSCI BIC ETF 0.1 69 -4 13.5 +8.7
ADIV SmartETFs Asia Pacific Dividend Builder ETF 0.1 78 -13 9.5 +4.7
TTAI FCF International Quality ETF 0.1 59 6 7.4 +2.6
SCHE Schwab Emerging Markets Equity ETF 0.1 11 54 10.6 +5.8
IEMG iShares Core MSCI Emerging Markets ETF 0.1 9 56 10.1 +5.3
JSTC Adasina Social Justice All Cap Global ETF 0.1 89 -24 4.9 +0.1
EEM iShares MSCI Emerging Markets ETF 0.1 69 -4 9.9 +5.1
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 0.1 30 35 9.9 +5.1
AAXJ iShares MSCI All Country Asia ex Japan ETF 0.1 70 -5 8.9 +4.1
CWI SPDR MSCI ACWI ex-US ETF 0.0 30 35 7.4 +2.6
PICK iShares MSCI Global Metals & Mining Producers ETF 0.0 39 26 11.3 +6.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 0.0 41 24 7.2 +2.4
VT Vanguard Total World Stock ETF 0.0 6 59 5.8 +1.0
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.0 9 56 5.6 +0.8
EEMA iShares MSCI Emerging Markets Asia ETF 0.0 49 16 9.8 +5.0
EMXF iShares ESG Advanced MSCI EM ETF 0.0 16 49 8.3 +3.5
VIGI Vanguard International Dividend Appreciation ETF 0.0 10 55 6.4 +1.6
IGRO iShares International Dividend Growth ETF 0.0 15 50 7.3 +2.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.0 20 45 5.5 +0.7
JHEM John Hancock Multifactor Emerging Markets ETF 0.0 49 16 9.8 +5.0
GXUS Goldman Sachs MarketBeta Total International Equity ETF 0.0 18 47 7.9 +3.1

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%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
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

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VALUATION METRICS
  2024 2025E 2026E
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 500 China A-Shares Small Cap ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.0 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 4.8 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.54 CATEGORY
AVERAGE		 1.51
 
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.