CXSE vs. CHIQ

Last updated Jul 8, 2026

CXSE (WisdomTree China ex-State-Owned Enterprises Fund) and CHIQ (Global X MSCI China Consumer Discretionary ETF) are both China Equities funds - CXSE tracks the WisdomTree China ex-State-Owned Enterprises Index while CHIQ tracks the MSCI China Consumer Discretionary 10/50 Index. Both are passively managed. Over the past 10 years, CXSE returned 6.78%/yr vs 5.94%/yr for CHIQ. Their correlation of 0.84 suggests significant overlap in exposure. CXSE charges 0.32%/yr vs 0.65%/yr for CHIQ.

Performance

CXSE vs. CHIQ - Performance Comparison

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

Returns By Period

In the year-to-date period, CXSE achieves a -5.20% return, which is significantly higher than CHIQ's -20.85% return. Over the past 10 years, CXSE has outperformed CHIQ with an annualized return of 6.78%, while CHIQ has yielded a comparatively lower 5.94% annualized return.

CXSE

• 1D: -0.78%
• 1M: -1.93%
• 6M: -9.44%
• YTD: -5.20%
• 1Y: 12.21%
• 3Y*: 8.91%
• 5Y*: -7.90%
• 10Y*: 6.78%

CHIQ

• 1D: 0.48%
• 1M: -6.45%
• 6M: -23.18%
• YTD: -20.85%
• 1Y: -18.76%
• 3Y*: -0.68%
• 5Y*: -10.99%
• 10Y*: 5.94%

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

CXSE vs. CHIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CXSE WisdomTree China ex-State-Owned Enterprises Fund	-5.20%	37.00%	8.56%	-18.02%	-29.32%	-23.67%	59.39%	37.96%	-28.55%	81.50%
CHIQ Global X MSCI China Consumer Discretionary ETF	-20.85%	13.69%	10.74%	-10.70%	-22.01%	-27.07%	92.61%	44.19%	-28.65%	67.74%

Correlation

The correlation between CXSE and CHIQ is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Sep 20, 2012	0.84

The correlation between CXSE and CHIQ shifts across timeframes, from 0.77 (1 year) to 0.92 (5 years), reflecting how their relationship changes across market environments.

CXSE vs. CHIQ - Sectors Allocation Comparison

Sectors	CXSE	CHIQ
Technology	27.4%	0.3%
Consumer Cyclical	24.6%	95.0%
Industrials	12.7%	0.4%
Communication Services	12.1%	-
Healthcare	8.6%	-
Financial Services	6.2%	-
Consumer Defensive	4.0%	3.6%
Basic Materials	3.2%	-
Real Estate	0.8%	0.4%
Energy	0.4%	-
Utilities	0.2%	-

Return for Risk

CXSE vs. CHIQ — Risk / Return Rank

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

CXSE

CXSE Risk / Return Rank: 18
CXSE Sharpe Ratio Rank: 19
CXSE Sortino Ratio Rank: 18
CXSE Omega Ratio Rank: 18
CXSE Calmar Ratio Rank: 18
CXSE Martin Ratio Rank: 16

CHIQ

CHIQ Risk / Return Rank: 3
CHIQ Sharpe Ratio Rank: 3
CHIQ Sortino Ratio Rank: 3
CHIQ Omega Ratio Rank: 3
CHIQ Calmar Ratio Rank: 5
CHIQ Martin Ratio Rank: 3

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.

CXSE vs. CHIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree China ex-State-Owned Enterprises Fund (CXSE) and Global X MSCI China Consumer Discretionary ETF (CHIQ). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CXSE	CHIQ	Difference
Sharpe ratio: Return per unit of total volatility	0.56	-0.83	+1.39
Sortino ratio: Return per unit of downside risk	0.91	-1.11	+2.01
Omega ratio: Gain probability vs. loss probability	1.11	0.88	+0.23
Calmar ratio: Return relative to maximum drawdown	0.69	-0.53	+1.22
Martin ratio: Return relative to average drawdown	1.31	-1.25	+2.56

CXSE vs. CHIQ - Sharpe Ratio Comparison

The current CXSE Sharpe Ratio is 0.56, which is higher than the CHIQ Sharpe Ratio of -0.83. The chart below compares the historical Sharpe Ratios of CXSE and CHIQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CXSE vs. CHIQ - Drawdown Comparison

The maximum CXSE drawdown since its inception was -70.01%, roughly equal to the maximum CHIQ drawdown of -67.04%. Use the drawdown chart below to compare losses from any high point for CXSE and CHIQ.

Drawdown Indicators

	CXSE	CHIQ	Difference
Max Drawdown Largest peak-to-trough decline	-70.01%	-67.04%	-2.97%
Max Drawdown (1Y) Largest decline over 1 year	-17.70%	-35.53%	+17.83%
Max Drawdown (3Y) Largest decline over 3 years	-32.12%	-35.53%	+3.41%
Max Drawdown (5Y) Largest decline over 5 years	-62.28%	-57.55%	-4.73%
Max Drawdown (10Y) Largest decline over 10 years	-70.01%	-67.04%	-2.97%
Current Drawdown Current decline from peak	-49.29%	-58.48%	+9.19%
Average Drawdown Average peak-to-trough decline	-27.95%	-30.75%	+2.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.33%	15.08%	-5.75%

Volatility

CXSE vs. CHIQ - Volatility Comparison

WisdomTree China ex-State-Owned Enterprises Fund (CXSE) has a higher volatility of 7.37% compared to Global X MSCI China Consumer Discretionary ETF (CHIQ) at 6.76%. This indicates that CXSE's price experiences larger fluctuations and is considered to be riskier than CHIQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CXSE	CHIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.37%	6.76%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	15.52%	16.40%	-0.88%
Volatility (1Y) Calculated over the trailing 1-year period	22.00%	22.60%	-0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.35%	37.75%	-5.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.75%	32.43%	-3.68%

CXSE vs. CHIQ - Expense Ratio Comparison

CXSE has a 0.32% expense ratio, which is lower than CHIQ's 0.65% expense ratio.

Dividends

CXSE vs. CHIQ - Dividend Comparison

CXSE's dividend yield for the trailing twelve months is around 1.53%, less than CHIQ's 1.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHIQ Global X MSCI China Consumer Discretionary ETF	1.70%	1.48%	2.65%	2.26%	0.38%	0.00%	0.11%	1.05%	2.71%	0.62%	1.51%	4.86%
CXSE WisdomTree China ex-State-Owned Enterprises Fund	1.53%	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 CXSE and CHIQ in my portfolio?

CXSE and CHIQ have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CXSE or CHIQ?

CXSE has higher volatility (7.37%) compared to CHIQ (6.76%). In terms of maximum drawdown, CXSE dropped -70.01% vs CHIQ's -67.04%.

Which ETF is better, CXSE or CHIQ?

On 10-year performance, CXSE leads with 6.78% vs 5.94% for CHIQ. On fees, CXSE is cheaper at 0.32% per year. On volatility, CHIQ has been the lower-risk option at 6.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CXSE or CHIQ?

Over the 10-year period, CXSE has performed better with a 6.78% return vs 5.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CXSE or CHIQ?

CXSE is cheaper with a 0.32% expense ratio, compared with 0.65% for CHIQ.

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

CHIQ has the higher dividend yield at 1.70%, compared with 1.53% for CXSE.

What is the main difference between CXSE and CHIQ?

CXSE tracks WisdomTree China ex-State-Owned Enterprises Index, while CHIQ tracks MSCI China Consumer Discretionary 10/50 Index. They also come from different issuers: WisdomTree and Global X. Their fees differ too: 0.32% for CXSE and 0.65% for CHIQ.

Which has better risk-adjusted returns?

CXSE currently has the higher Sharpe Ratio (0.56 vs -0.83), 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.