CAAS vs. CXSE

Last updated Jun 4, 2026

CAAS (China Automotive Systems, Inc.) is a stock, while CXSE (WisdomTree China ex-State-Owned Enterprises Fund) is China Equities fund tracking the WisdomTree China ex-State-Owned Enterprises Index. Over the past 10 years, CAAS returned 2.70%/yr vs 7.43%/yr for CXSE. At a 0.20 correlation, their price movements are largely independent.

Performance

CAAS vs. CXSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in China Automotive Systems, Inc. (CAAS) and WisdomTree China ex-State-Owned Enterprises Fund (CXSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAAS achieves a 4.11% return, which is significantly higher than CXSE's 0.93% return. Over the past 10 years, CAAS has underperformed CXSE with an annualized return of 2.70%, while CXSE has yielded a comparatively higher 7.43% annualized return.

CAAS

• 1D: -1.22%
• 1M: -0.56%
• YTD: 4.11%
• 6M: 7.65%
• 1Y: 9.24%
• 3Y*: 2.72%
• 5Y*: 2.09%
• 10Y*: 2.70%

CXSE

• 1D: -1.05%
• 1M: 0.71%
• YTD: 0.93%
• 6M: 0.61%
• 1Y: 24.36%
• 3Y*: 10.95%
• 5Y*: -8.07%
• 10Y*: 7.43%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CAAS vs. CXSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CAAS China Automotive Systems, Inc.	4.11%	3.90%	52.01%	-44.31%	116.42%	-57.05%	98.10%	29.10%	-49.17%	-10.45%
CXSE WisdomTree China ex-State-Owned Enterprises Fund	0.93%	37.00%	8.56%	-18.02%	-29.32%	-23.67%	59.39%	37.96%	-28.55%	81.50%

Correlation

The correlation between CAAS and CXSE is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.20
Correlation (All Time) Calculated using the full available price history since Sep 21, 2012	0.20

The correlation between CAAS and CXSE shifts across timeframes, from 0.10 (1 year) to 0.28 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

CAAS vs. CXSE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CAAS

CAAS Risk / Return Rank: 49
CAAS Sharpe Ratio Rank: 52
CAAS Sortino Ratio Rank: 47
CAAS Omega Ratio Rank: 44
CAAS Calmar Ratio Rank: 51
CAAS Martin Ratio Rank: 49

CXSE

CXSE Risk / Return Rank: 28
CXSE Sharpe Ratio Rank: 31
CXSE Sortino Ratio Rank: 30
CXSE Omega Ratio Rank: 30
CXSE Calmar Ratio Rank: 28
CXSE Martin Ratio Rank: 22

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CAAS vs. CXSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for China Automotive Systems, Inc. (CAAS) and WisdomTree China ex-State-Owned Enterprises Fund (CXSE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CAAS	CXSE	Difference
Sharpe ratio: Return per unit of total volatility	0.29	1.14	-0.85
Sortino ratio: Return per unit of downside risk	0.70	1.67	-0.97
Omega ratio: Gain probability vs. loss probability	1.08	1.21	-0.13
Calmar ratio: Return relative to maximum drawdown	0.46	1.38	-0.93
Martin ratio: Return relative to average drawdown	0.82	2.90	-2.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CAAS vs. CXSE - Sharpe Ratio Comparison

The current CAAS Sharpe Ratio is 0.29, which is lower than the CXSE Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of CAAS and CXSE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CAAS	CXSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.29	1.14	-0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	-0.25	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.03	0.26	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.19	-0.19

Drawdowns

CAAS vs. CXSE - Drawdown Comparison

The maximum CAAS drawdown since its inception was -94.04%, which is greater than CXSE's maximum drawdown of -70.01%. Use the drawdown chart below to compare losses from any high point for CAAS and CXSE.

Drawdown Indicators

	CAAS	CXSE	Difference
Max Drawdown Largest peak-to-trough decline	-94.04%	-70.01%	-24.03%
Max Drawdown (1Y) Largest decline over 1 year	-20.32%	-17.70%	-2.62%
Max Drawdown (3Y) Largest decline over 3 years	-44.96%	-32.12%	-12.84%
Max Drawdown (5Y) Largest decline over 5 years	-68.16%	-64.47%	-3.69%
Max Drawdown (10Y) Largest decline over 10 years	-80.21%	-70.01%	-10.20%
Current Drawdown Current decline from peak	-79.43%	-46.01%	-33.42%
Average Drawdown Average peak-to-trough decline	-71.83%	-27.83%	-44.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.31%	8.42%	+2.89%

Volatility

CAAS vs. CXSE - Volatility Comparison

China Automotive Systems, Inc. (CAAS) has a higher volatility of 8.50% compared to WisdomTree China ex-State-Owned Enterprises Fund (CXSE) at 7.29%. This indicates that CAAS's price experiences larger fluctuations and is considered to be riskier than CXSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAAS	CXSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.50%	7.29%	+1.21%
Volatility (6M) Calculated over the trailing 6-month period	19.73%	14.54%	+5.19%
Volatility (1Y) Calculated over the trailing 1-year period	31.81%	21.39%	+10.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.92%	32.30%	+23.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.43%	28.70%	+53.73%

Dividends

CAAS vs. CXSE - Dividend Comparison

CAAS has not paid dividends to shareholders, while CXSE's dividend yield for the trailing twelve months is around 1.99%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAAS China Automotive Systems, Inc.	0.00%	0.00%	19.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CXSE WisdomTree China ex-State-Owned Enterprises Fund	1.99%	1.95%	1.70%	1.71%	1.55%	0.86%	0.54%	0.96%	1.49%	1.24%	1.39%	2.50%

Frequently Asked Questions

Can I hold both CAAS and CXSE in my portfolio?

CAAS and CXSE have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CAAS or CXSE?

CAAS has higher volatility (8.50%) compared to CXSE (7.29%). In terms of maximum drawdown, CAAS dropped -94.04% vs CXSE's -70.01%.

Which has better risk-adjusted returns?

CXSE currently has the higher Sharpe Ratio (1.14 vs 0.29), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.