CN vs. CXSE

Last updated Jun 4, 2026

CN (Xtrackers MSCI All China Equity ETF) and CXSE (WisdomTree China ex-State-Owned Enterprises Fund) are both China Equities funds - CN tracks the MSCI China All Shares while CXSE tracks the WisdomTree China ex-State-Owned Enterprises Index. Both are passively managed. A 0.75 correlation means they provide meaningful diversification when combined. CN charges 0.50%/yr vs 0.32%/yr for CXSE.

Performance

CN vs. CXSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI All China Equity ETF (CN) and WisdomTree China ex-State-Owned Enterprises Fund (CXSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

CN vs. CXSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	-3.10%	-11.87%	-23.85%	-12.74%	31.55%	26.79%	-22.41%	43.69%
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 CN and CXSE is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since May 1, 2014	0.75

The correlation between CN and CXSE shifts across timeframes, from 0.47 (3 years) to 0.80 (10 years), reflecting how their relationship changes across market environments.

CN vs. CXSE - Sectors Allocation Comparison

Sectors	CN	CXSE
Financial Services	55.1%	6.2%
Consumer Cyclical	5.4%	26.2%
Industrials	1.0%	16.6%
Energy	0.9%	0.4%
Real Estate	0.8%	0.9%
Healthcare	0.8%	8.8%
Basic Materials	0.6%	3.4%
Communication Services	0.4%	10.1%
Technology	0.3%	22.6%
Consumer Defensive	0.3%	3.9%
Utilities	0.2%	0.3%

Return for Risk

CN vs. CXSE — Risk / Return Rank

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

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.

CN vs. CXSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI All China Equity ETF (CN) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CN	CXSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.14	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.25	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.26	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.19	—

Drawdowns

Drawdown Indicators

	CN	CXSE	Difference
Max Drawdown Largest peak-to-trough decline	—	-70.01%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-17.70%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-32.12%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-64.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-70.01%	—
Current Drawdown Current decline from peak	—	-46.01%	—
Average Drawdown Average peak-to-trough decline	—	-27.83%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.42%	—

Volatility

Volatility by Period

	CN	CXSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.29%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.54%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	21.39%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	32.30%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	28.70%	—

CN vs. CXSE - Expense Ratio Comparison

CN has a 0.50% expense ratio, which is higher than CXSE's 0.32% expense ratio.

Dividends

CN vs. CXSE - Dividend Comparison

CN 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
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	0.00%	4.04%	1.80%	2.00%	0.78%	4.18%	2.09%	0.81%	11.41%	14.00%
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 CN and CXSE in my portfolio?

CN and CXSE have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CN or CXSE?

On fees, CXSE is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CN or CXSE?

CXSE is cheaper with a 0.32% expense ratio, compared with 0.50% for CN.

Which ETF pays a higher dividend yield, CN or CXSE?

CXSE has the higher dividend yield at 1.99%, compared with 0.00% for CN.

What is the main difference between CN and CXSE?

CN tracks MSCI China All Shares, while CXSE tracks WisdomTree China ex-State-Owned Enterprises Index. They also come from different issuers: Deutsche Bank and WisdomTree. Their fees differ too: 0.50% for CN and 0.32% for CXSE.