Both are US-listed China ETFs, but they answer different questions. MCHI is the "whole market in one fund" default — mostly Hong Kong and US-listed shares with a slice of A-shares. ASHR is the dedicated onshore play: 300 mainland A-shares (CSI 300) in RMB. Here is the head-to-head so you can choose on purpose.
Verified snapshot figures (fees, AUM, holdings, yield) as of August 2026. Live prices as of Aug 28, 2026 (delayed Nasdaq snapshot).
| Metric | MCHI — iShares MSCI China | ASHR — Xtrackers CSI 300 A-Shares |
|---|---|---|
| Issuer | iShares (BlackRock) | Xtrackers (DWS) |
| Tracks | MSCI China Index | CSI 300 Index |
| Strategy | Broad, diversified China (offshore-leaning) | A-shares (mainland) focused |
| Listing mix | Offshore: HK + US ADRs (~80% HK/US, ~17% A-share via Connect) | Onshore: mainland A-shares (RMB) |
| Expense ratio | 0.59% | 0.65% |
| AUM | $6.2B | $1.5B |
| Dividend yield | ~2.0% | ~2.1% |
| # Holdings | 575 | 300 |
| Top holdings | Tencent, Alibaba, China Construction Bank | Ping An, Kweichow Moutai, China Merchants Bank |
| Last price | $54.90 (Aug 28, 2026) | $34.56 (Aug 28, 2026) |
| Best for | Core, diversified China holding in one position | Direct mainland A-share exposure |
MCHI gives you China through Hong Kong and US-listed shares, with only about 17% of the basket in mainland A-shares (reached via Stock Connect). ASHR is the opposite: it is 100% CSI 300 mainland A-shares, the large-cap core of the Shanghai and Shenzhen markets. If "I want real onshore China" is your goal, ASHR is the direct line; MCHI is the diversified, offshore-leaning default.
Because ASHR's assets are RMB-denominated, a weaker yuan hits a USD-based investor more directly. MCHI is mostly HKD/USD (HK + US listings), so its currency drag is smaller even though its A-share sleeve still carries some RMB risk. Both still carry China equity risk on top.
MCHI spans the whole economy — banks, telecoms, energy and the tech giants (Tencent, Alibaba). ASHR is the CSI 300 blue-chip club: Ping An, Kweichow Moutai, China Merchants Bank and peers. Several ASHR names also trade as H-shares, but ASHR holds the mainland line specifically, so pricing and premiums differ from the HK twin.
MCHI is cheaper (0.59% vs 0.65%) and larger ($6.2B vs $1.5B AUM), which usually means tighter trading spreads. Yields are close (~2.0% vs ~2.1%) — both own high-yielding SOE banks, so income is similar; ASHR edges ahead on yield because it is pure mainland large-caps.
We do not publish 1-year / 3-year / 5-year return figures on this page. Historical numbers change constantly and we will not show unverified performance. For current trailing returns, open the official issuer fact sheet (iShares for MCHI, Xtrackers for ASHR) or use your broker's fund research page. What we can show with confidence is the verified structure above (fees, size, holdings, yield) and the delayed live price.