Goodness/holiness is the best performance (neaamaty),
It is happiness;
He gains happiness, who performs the best deeds for holiness.
(This is a transliteration in English based on the works of CE Kanga).
NOTES: Ervad CE Kanga explains: the word ‘ASHOI’ as Raasti, purity, holiness or abstinence from evil. He says that the Avesta lauds Ashoi. The purity of the heart is the highest wealth and happiness in the world. Only the most honest attain this happiness. Once one is born in this world, ones first deed should be to gain this purity. (See 48th Ha. 5th Fakro of the Ijashne). The Avesta recommends that Ashem Vohu prayed often and at various times helps achieve this purity.
RAASTI= the way of the Path; the Tao; the following of the Divine Law/Law of Nature.
Translation by Dossabhai Sorabji Framroze:
Righteousness is the highest virtue,
That alone is happiness.
Happiness is to him,
Who is righteous for the sake of the highest Righteousness.
As I see it, Ashem Vohu is a short stanza in praise of righteousness. Framroze interprets Ashoi as understood by the Zoroastrians.
“The meaning of ashoi is far deeper then mere purity. ‘Asha’ of the avatar is a very ancient word and is to be taken in the highest spiritual sense possible.”–Framroze
It represents the eternal law of truth the one great spiritual law the Tao of Confucius.
Translation by James Darmesteter:
Holiness (Asha) is the best of all good: it is also happiness.
Happy is the man who is holy with perfect holiness!
Righteousness is the best good, (and it) is happiness.
Happiness (is) to him, who (is) righteous for the sake of the best righteousness.