ASHX tracks the CSI 300 USD Hedged Index, which is designed to provide direct access to China A-shares while diminishing the negative effects of a depreciating Chinese yuan currency against the U.S. dollar. The CSI 300 Index covers the 300 largest A-shares on mainland Shanghai and Shenzhen exchanges.

Additionally, the CSOP MSCI China A International Hedged ETF (NYSEArca: CNHX) also acts like the currency-hedged version of the KraneShares Bosera MSCI China A ETF (NYSEArca: KBA).

CNHX tries to reflect the performance of the MSCI China A International with CNH 100% Hedged to USD Index, which includes Chinese A-shares listed on both the Shanghai Stock Exchange and Shenzhen Stock Exchange while also mitigating exposure to fluctuations in the Chinese renminbi relative to the USD.

Potential investors, though, should be aware that the two currency-hedged China A-shares ETFs are still relatively new and show low volumes, so people should use limit orders to better control trades.

The currency-hedged China A-shares ETFs have been slightly outpacing the non-hedged versions as the Chinese currency depreciated against the USD. For instance, a chart of ASHX since its inception compared to ASHR:

Source: Yahoo! Finance

For more information on the Chinese market, visit our China category.

Max Chen contributed to this article.