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Xtrackers MSCI China A Inclusion Equity ETF
ETF
ASHX
Payout Change
Pending
Price as of:
$18.4548
+0.0
+0.0%
primary theme
N/A
ASHX (ETF)
Xtrackers MSCI China A Inclusion Equity ETF
Payout Change
Pending
Price as of:
$18.4548
+0.0
+0.0%
primary theme
N/A
ASHX (ETF)
Xtrackers MSCI China A Inclusion Equity ETF
Payout Change
Pending
Price as of:
$18.4548
+0.0
+0.0%
primary theme
N/A
Name
As of 03/14/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
0.3%
1 yr return
-15.1%
3 Yr Avg Return
-12.0%
5 Yr Avg Return
-0.1%
Net Assets
$4.92 M
Holdings in Top 10
17.4%
52 WEEK LOW AND HIGH
$18.5
$16.42
$23.22
Expenses
OPERATING FEES
Expense Ratio 0.60%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 33.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 03/14/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
ASHX - Profile
Distributions
- YTD Total Return 0.3%
- 3 Yr Annualized Total Return -12.0%
- 5 Yr Annualized Total Return -0.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.74%
- Dividend Yield 2.4%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameXtrackers MSCI China A Inclusion Equity ETF
-
Fund Family NameXTRACKERS
-
Inception DateOct 20, 2015
-
Shares Outstanding250001
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBryan Richards
Fund Description
The fund, using a “passive” or indexing investment approach, seeks investment results that correspond generally to the performance, before fees and expenses, of the Underlying Index, which is designed to track the equity market performance of China A-Shares that are accessible through the Shanghai-Hong Kong Stock Connect program (“Shanghai Connect”) or the Shenzhen-Hong Kong Stock Connect program (“Shenzhen Connect,” and together with Shanghai Connect, “Stock Connect”). “A-Shares” are equity securities issued by companies incorporated in mainland China and are denominated in renminbi (“RMB”). Certain eligible A-Shares are traded on the Shanghai Stock Exchange (“SSE”) or Shenzhen Stock Exchange (“SZSE”). The Underlying Index is designed to track the inclusion of A-Shares in the MSCI Emerging Markets Index over time and is constructed by MSCI, Inc. (the “Index Provider” or “MSCI”) by applying eligibility criteria for the MSCI Global Investable Market Indexes (“GIMI”), and then excluding small-capitalization A-Shares (as determined by MSCI), A-Shares suspended for trading for more than 50 days in the past 12 months and A-Shares that are not accessible through Stock Connect. The Underlying Index is weighted by each issuer’s free float-adjusted market capitalization (i.e., includes only shares that are readily available for trading in the market) available to foreign investors and includes large- and mid-capitalization companies, as determined by MSCI. The fund intends to invest in A-Shares included in the Underlying Index primarily through Stock Connect. Stock Connect is a securities trading and clearing program with an aim to achieve mutual stock market access between the People’s Republic of China (“China”or the “PRC”) and Hong Kong. Stock Connect was developed by Hong Kong Exchanges and Clearing Limited, the SSE (in the case of Shanghai Connect) or the SZSE (in the case of Shenzhen Connect), and China Securities Depository and Clearing Corporation Limited (“CSDCC”). Under Stock Connect, the fund’s trading of eligible A-Shares listed on the SSE or the SZSE, as applicable, would be effectuated through DBX Advisors LLC (the “Advisor”). Trading through Stock Connect is subject to a daily quota (“Daily Quota”), which limits the maximum net purchases on any particular day by Hong Kong investors (and foreign investors trading through Hong Kong) trading PRC listed securities and PRC investors trading Hong Kong listed securities through the relevant Stock Connect, and as such, buy orders for A-Shares would be rejected once the Daily Quota is exceeded (although the fund will be permitted to sell A-Shares regardless of the Daily Quota balance). The Daily Quota is not specific to the fund, but to all investors investing through the Stock Connect. Accordingly, the fund’s direct investments in A-Shares will be limited in part by the Daily Quota that limits total purchases through Stock Connect. From time to time, other stock exchanges in China may participate in Stock Connect, and A-Shares listed and traded on such other stock exchanges and accessible through Stock Connect may be added to the Underlying Index, as determined by MSCI.Under current regulations in China, foreign investors can also invest in the PRC’s domestic securities markets through certain market-access programs. These programs include the Qualified Foreign Investor (“QFI”, including Qualified Foreign Institutional Investor (“QFII”) and Renminbi Qualified Foreign Institutional Investor (“RQFII”)) program, where investors will be required to obtain a license from the China Securities Regulatory Commission (“CSRC”) in order to participate in the program. QFIs will also need to register with China’s State Administration of Foreign Exchange (“SAFE”) to remit foreign currencies which can be traded on the China Foreign Exchange Trade System (in the case of a QFII) and RMB (in the case of an RQFII) in the PRC for the purpose of investing in the PRC’s domestic securities markets. Investment companies are not currently within the types of entities that are eligible for a QFI license.The fund intends to invest directly in A-Shares through Stock Connect, but, in the future, may also utilize a QFI license applied for by and granted to the Advisor and/or a subadvisor subsequently appointed for the fund. In the event the Advisor obtains a QFI license, or appoints a subadvisor that has such license, under certain circumstances, including when the fund’s ability to invest in A-Shares through Stock Connect is restricted as a result of the Daily Quota or otherwise, the Advisor and/or a subadvisor, on behalf of the fund, may invest in A-Shares and other permitted China securities listed on the SSE and SZSE through the QFI program.The Advisor expects to use a full replication indexing strategy to seek to track the Underlying Index. As such, the Advisor expects to invest directly in the component securities (or a substantial number of the component securities) of the Underlying Index in substantially the same weightings in which they are represented in the Underlying Index. If it is not possible for the Advisor to acquire component securities due to limited availability or regulatory restrictions, the Advisor may use a representative sampling indexing strategy to seek to track the Underlying Index instead of a full replication indexing strategy. “Representative sampling” is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to the Underlying Index. The securities selected are expected to have, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability and yield), and liquidity measures similar to those of the Underlying Index. The fund may or may not hold all of the securities in the Underlying Index when the Advisor is using a representative sampling indexing strategy.The fund will normally invest at least 80% of its total assets in securities (including depositary receipts in respect of such securities) of issuers that comprise the Underlying Index. The fund will seek to achieve its investment objective by primarily investing directly in A-Shares. The fund intends to invest directly in A-Shares via Stock Connect and, in the future, may also utilize any QFI license applied for by and granted to the Advisor and/or a subadvisor. While the fund intends to invest primarily and directly in A-Shares, the fund also may invest in securities of issuers not included in the Underlying Index, certain derivative instruments (see “Derivatives” subsection) and other pooled investment vehicles, including exchange-traded funds (“ETFs”), whether or not managed by the Advisor, as well as foreign investment companies, that the Advisor believes will help the fund to achieve its investment objective. The remainder of the fund’s assets will be invested primarily in money market instruments and cash equivalents. Under normal circumstances, the fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in A-Shares of Chinese issuers or in derivative instruments and other securities that provide investment exposure to A-Shares of Chinese issuers.As of July 31, 2023, the Underlying Index consisted of 541 securities with an average market capitalization of approximately $3.16 billion and a minimum market capitalization of approximately $597 million. Under normal circumstances, the Underlying Index is reconstituted quarterly in February, May, August and November. The fund changes its portfolio in accordance with the Underlying Index, and, therefore, any changes to the Underlying Index’s reconstitution schedule will result in corresponding changes to the fund’s schedule of portfolio changes. Any changes made to the Underlying Index in between scheduled reconstitutions (e.g., in the event of a corporate action) also will result in corresponding changes to the fund’s portfolio.The fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to the extent that the Underlying Index is concentrated. As of July 31, 2023, a significant percentage of the Underlying Index was comprised of issuers in the financials (18.72%)and industrials (15.61%) sectors. The financials sector contains companies engaged in banking, financial services, consumer finance, capital markets and insurance activities.It also includes financial exchanges and data and mortgage real estate investment trusts(REITs). The industrials sector includes manufacturers and distributors of capital goods such as aerospace anddefense, building products, electrical equipment and machinery and companies that offer construction and engineering services. It also includes providers of commercial and professional services including printing, environmental and facilities services, office services and supplies,securityand alarm services,human resource and employment services,research and consulting services.Italso includes companies that provide transportation services. The fund’s exposure to particular sectors may change over time to correspond to changes in the Underlying Index.The fund may become “non-diversified,” as defined under the Investment Company Act of 1940, as amended, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the index that the fund is designed to track. Shareholder approval will not be sought when the fund crosses from diversified to non-diversified status under such circumstances.The fund or securities referred to herein are not sponsored, endorsed, issued, sold or promoted by MSCI, and MSCI bears no liability with respect to the fund or securities or any index on which the fund or securities are based.Derivatives. The fund may invest in derivatives, which are financial instruments whose performance is derived, at least in part, from the performance of an underlying asset, security or index. In particular, portfolio management may use futures contracts, stock index futures, options on futures, swap contracts and other types of derivatives in seeking performance that corresponds to its Underlying Index and will not use such instruments for speculative purposes.Securities lending. The fund may lend securities (up to one-third of total assets) to approved institutions, such as registered broker-dealers,pooled investment vehicles,banks and other financial institutions. In connection with such loans, the fund receives liquid collateral in an amount that isbased on the type and value of the securities being lent.
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ASHX - Performance
Return Ranking - Trailing
| Period | ASHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.3% | -10.7% | 6.8% | 44.12% |
| 1 Yr | -15.1% | -29.3% | 27.0% | 55.88% |
| 3 Yr | -12.0%* | -30.0% | 4.9% | 13.98% |
| 5 Yr | -0.1%* | -15.4% | 15.6% | 23.08% |
| 10 Yr | N/A* | -4.2% | 9.6% | 58.33% |
* Annualized
Return Ranking - Calendar
| Period | ASHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -15.6% | -26.6% | 26.3% | 45.10% |
| 2022 | -27.7% | -41.6% | -9.4% | 49.47% |
| 2021 | 1.8% | -52.5% | 26.5% | 15.22% |
| 2020 | 41.1% | 1.3% | 138.5% | 32.50% |
| 2019 | 32.6% | -1.9% | 42.6% | 26.92% |
Total Return Ranking - Trailing
| Period | ASHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.3% | -10.7% | 6.8% | 44.12% |
| 1 Yr | -15.1% | -29.3% | 27.0% | 55.88% |
| 3 Yr | -12.0%* | -30.0% | 4.9% | 13.98% |
| 5 Yr | -0.1%* | -15.4% | 15.6% | 23.08% |
| 10 Yr | N/A* | -4.2% | 9.6% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | ASHX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -13.6% | -25.7% | 30.1% | 37.25% |
| 2022 | -26.4% | -40.4% | -6.8% | 50.53% |
| 2021 | 2.7% | -48.9% | 29.5% | 21.74% |
| 2020 | 42.2% | 2.0% | 138.5% | 52.50% |
| 2019 | 35.0% | 7.8% | 44.4% | 23.08% |
ASHX - Holdings
Concentration Analysis
| ASHX | Category Low | Category High | ASHX % Rank | |
|---|---|---|---|---|
| Net Assets | 4.92 M | 1.13 M | 6.93 B | 85.29% |
| Number of Holdings | 563 | 26 | 1185 | 6.06% |
| Net Assets in Top 10 | 831 K | 534 K | 3.2 B | 97.98% |
| Weighting of Top 10 | 17.35% | 4.9% | 81.8% | 98.99% |
Top 10 Holdings
- Kweichow Moutai Co Ltd 6.03%
- Contemporary Amperex Technology Co Ltd 1.96%
- China Merchants Bank Co Ltd 1.58%
- Wuliangye Yibin Co Ltd 1.55%
- China Yangtze Power Co Ltd 1.49%
- Ping An Insurance Group Co of China Ltd 1.17%
- BYD Co Ltd 0.99%
- Shenzhen Mindray Bio-Medical Electronics Co Ltd 0.94%
- Agricultural Bank of China Ltd 0.83%
- Shanxi Xinghuacun Fen Wine Factory Co Ltd 0.82%
Asset Allocation
| Weighting | Return Low | Return High | ASHX % Rank | |
|---|---|---|---|---|
| Stocks | 99.11% | 0.00% | 101.98% | 44.00% |
| Cash | 0.90% | 0.00% | 33.66% | 69.70% |
| Preferred Stocks | 0.00% | 0.00% | 2.60% | 41.41% |
| Convertible Bonds | 0.00% | 0.00% | 0.15% | 41.84% |
| Bonds | 0.00% | 0.00% | 69.90% | 37.00% |
| Other | 0.00% | -0.02% | 47.32% | 95.96% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | ASHX % Rank | |
|---|---|---|---|---|
| Financial Services | 18.22% | 0.00% | 41.62% | 21.43% |
| Industrials | 16.59% | 0.00% | 36.69% | 24.49% |
| Consumer Defense | 15.88% | 0.00% | 20.13% | 11.22% |
| Technology | 13.15% | 0.00% | 58.02% | 40.82% |
| Basic Materials | 10.41% | 0.00% | 19.86% | 9.18% |
| Healthcare | 8.97% | 0.00% | 100.00% | 36.73% |
| Consumer Cyclical | 7.97% | 0.00% | 95.37% | 90.82% |
| Energy | 3.25% | 0.00% | 19.38% | 10.20% |
| Utilities | 2.70% | 0.00% | 11.37% | 21.43% |
| Real Estate | 1.89% | 0.00% | 22.12% | 63.27% |
| Communication Services | 0.98% | 0.00% | 41.06% | 80.61% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | ASHX % Rank | |
|---|---|---|---|---|
| Non US | 98.48% | 0.00% | 99.79% | 11.11% |
| US | 0.62% | 0.00% | 99.93% | 72.73% |
ASHX - Expenses
Operational Fees
| ASHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.60% | 0.09% | 12.20% | 90.91% |
| Management Fee | 0.60% | 0.09% | 1.50% | 13.73% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.06% | 0.25% | N/A |
Sales Fees
| ASHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| ASHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| ASHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 33.00% | 4.00% | 241.00% | 34.52% |
ASHX - Distributions
Dividend Yield Analysis
| ASHX | Category Low | Category High | ASHX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.38% | 0.00% | 9.87% | 23.53% |
Dividend Distribution Analysis
| ASHX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| ASHX | Category Low | Category High | ASHX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.74% | -1.76% | 3.66% | 21.43% |
Capital Gain Distribution Analysis
| ASHX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 22, 2023 | $0.439 | OrdinaryDividend |
| Dec 23, 2022 | $0.383 | OrdinaryDividend |
| Dec 27, 2021 | $0.254 | OrdinaryDividend |
| Dec 28, 2020 | $0.237 | OrdinaryDividend |
| Dec 24, 2019 | $0.374 | OrdinaryDividend |
| Dec 27, 2018 | $0.170 | OrdinaryDividend |
| Jan 04, 2018 | $0.548 | OrdinaryDividend |
| Jan 04, 2017 | $2.817 | OrdinaryDividend |
| Dec 28, 2015 | $0.741 | OrdinaryDividend |
ASHX - Fund Manager Analysis
Managers
Bryan Richards
Start Date
Tenure
Tenure Rank
Oct 20, 2015
6.62
6.6%
■ Joined DWS Group GmbH & Co. KGaA in 2011 with 11 years of industry experience. ■ Head of Passive Portfolio Management, Americas: New York. Bryan Richards is a Director with Deutsche Asset and Wealth Management and has served as a Portfolio Manager in the Passive Asset Management business since 2011. Mr. Richards began his career as an equity analyst at Fairhaven Capital LLC in Boston supporting two Portfolio Managers in a long-short equity strategy. Mr. Richards joined XShares Advisors, an ETF issuer, as a Vice President in 2007, providing analysis on index and fund construction as well as fund operations and performance before being promoted to Director of Fund Operations in 2009. Mr. Richards holds a BS Degree in Finance from Boston College and is a CFA Charterholder.
Patrick Dwyer
Start Date
Tenure
Tenure Rank
Aug 25, 2016
5.77
5.8%
Joined DWS Group GmbH & Co KGaA in 2016 with 16 years of industry experience. Mr. Dwyer is a Director with Deutsche Asset Management and has served as a Portfolio Manager in the Passive Asset Management business since 2016. Prior to his current role, Mr. Dwyer was the head of Northern Trust’s International Equity Index ETF and Overlay portfolio management team in Chicago, managing portfolios for North American based clients.Patrick Dwyer is a Vice President at The Northern Trust Company, Chicago. He is a Senior Portfolio Manager and Trader in the Quantitative Management Group of Northern Trust Global Investments and is responsible for the management of international index portfolios. His time at Northern Trust included working in New York, Chicago, and in Hong Kong building a portfolio management desk. Mr. Dwyer has a broad range of experience managing developed, emerging, and frontier index mandates, and currency and future overlay portfolios.Before his current role, Patrick was a portfolio manager in the domestic index portfolio team. Prior to joining Northern Trust in 2003, Mr. Dwyer participated in the Deutsche Asset Management graduate training program. He rotated through the domestic fixed income and US structured equity fund management groups. Mr. Dwyer received a BS in Finance from Rutgers University in 2001.
Shlomo Bassous
Start Date
Tenure
Tenure Rank
Oct 02, 2017
4.66
4.7%
Mr. Bassous is a Vice President with Deutsche Asset Management and has served as a Portfolio Manager in the DWS Group GmbH & Co. KGaA in 2017 with 13 years of industry experience. . Prior to joining Deutsche Bank, Mr. Bassous served as Portfolio Manager at Northern Trust Asset Management where he managed equity portfolios across a variety of global benchmarks. While at Northern Trust, he spent several years in Chicago, London and Hong Kong where he managed portfolios on behalf of institutional clients in North America, Europe, the Middle East and Asia. Before joining Northern Trust in 2007, he worked at The Bank of New York Mellon and Morgan Stanley in a variety of roles supporting equity trading and portfolio management. Mr. Bassous received a BS in Finance from Yeshiva University in 2004.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 24.1 | 3.67 | 3.22 |
