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CXSE vs. CNYA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CXSE vs. CNYA

Last updated Jun 5, 2026

CXSE (WisdomTree China ex-State-Owned Enterprises Fund) and CNYA (iShares MSCI China A ETF) are both China Equities funds - CXSE tracks the WisdomTree China ex-State-Owned Enterprises Index while CNYA tracks the MSCI China A Inclusion Index. Both are passively managed. Over the past 5 years, CXSE returned -8.14%/yr vs -1.13%/yr for CNYA. A 0.75 correlation means they provide meaningful diversification when combined. CXSE charges 0.32%/yr vs 0.60%/yr for CNYA.

Performance

CXSE vs. CNYA - Performance Comparison

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

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Returns By Period

In the year-to-date period, CXSE achieves a 0.56% return, which is significantly lower than CNYA's 8.91% return.

CXSE

1D
-0.36%
1M
0.50%
YTD
0.56%
6M
-0.29%
1Y
21.07%
3Y*
11.14%
5Y*
-8.14%
10Y*
7.22%

CNYA

1D
-0.36%
1M
1.89%
YTD
8.91%
6M
13.45%
1Y
36.38%
3Y*
11.15%
5Y*
-1.13%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

CXSE vs. CNYA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CXSE
WisdomTree China ex-State-Owned Enterprises Fund		0.56%37.00%8.56%-18.02%-29.32%-23.67%59.39%37.96%-28.55%81.50%
CNYA
iShares MSCI China A ETF		8.91%26.48%10.78%-13.76%-26.51%3.53%41.54%35.95%-26.56%30.99%

Correlation

The correlation between CXSE and CNYA is 0.80, 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

0.80

Correlation (3Y)
Calculated over the trailing 3-year period

0.81

Correlation (5Y)
Calculated over the trailing 5-year period

0.80

Correlation (All Time)
Calculated using the full available price history since Jun 16, 2016

0.75

The correlation between CXSE and CNYA has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.

CXSE vs. CNYA - Sectors Allocation Comparison

Sectors
CXSE
CNYA

Consumer Cyclical

26.2%
5.7%

Technology

22.6%
30.0%

Industrials

16.6%
18.3%

Communication Services

10.1%
0.6%

Healthcare

8.8%
3.8%

Financial Services

6.2%
17.0%

Consumer Defensive

3.9%
6.7%

Basic Materials

3.4%
10.6%

Real Estate

0.9%
0.7%

Energy

0.4%
3.2%

Utilities

0.3%
3.2%

Consumer Cyclical

CXSE
26.2%
CNYA
5.7%

Technology

CXSE
22.6%
CNYA
30.0%

Industrials

CXSE
16.6%
CNYA
18.3%

Communication Services

CXSE
10.1%
CNYA
0.6%

Healthcare

CXSE
8.8%
CNYA
3.8%

Financial Services

CXSE
6.2%
CNYA
17.0%

Consumer Defensive

CXSE
3.9%
CNYA
6.7%

Basic Materials

CXSE
3.4%
CNYA
10.6%

Real Estate

CXSE
0.9%
CNYA
0.7%

Energy

CXSE
0.4%
CNYA
3.2%

Utilities

CXSE
0.3%
CNYA
3.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

WisdomTree China ex-State-Owned Enterprises Fund

iShares MSCI China A ETF

Often compared with CXSE:
CXSE vs. FLCHCXSE vs. MCHICXSE vs. PGJCXSE vs. CNXTCXSE vs. CHIQCXSE vs. FXICXSE vs. VOO
Often compared with CNYA:
CNYA vs. MCHICNYA vs. ASHRCNYA vs. ICHN.ASCNYA vs. KBACNYA vs. FLCHCNYA vs. ICGA.DECNYA vs. GXC

Return for Risk

CXSE vs. CNYA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CXSE
CXSE Risk / Return Rank: 2626
Overall Rank
CXSE Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
CXSE Sortino Ratio Rank: 2828
Sortino Ratio Rank
CXSE Omega Ratio Rank: 2727
Omega Ratio Rank
CXSE Calmar Ratio Rank: 2626
Calmar Ratio Rank
CXSE Martin Ratio Rank: 2121
Martin Ratio Rank
CNYA
CNYA Risk / Return Rank: 7171
Overall Rank
CNYA Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
CNYA Sortino Ratio Rank: 6464
Sortino Ratio Rank
CNYA Omega Ratio Rank: 6464
Omega Ratio Rank
CNYA Calmar Ratio Rank: 8686
Calmar Ratio Rank
CNYA Martin Ratio Rank: 7575
Martin Ratio Rank
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. CNYA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree China ex-State-Owned Enterprises Fund (CXSE) and iShares MSCI China A ETF (CNYA). 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.

CXSECNYADifference
Sharpe ratioReturn per unit of total volatility
0.99
2.11

-1.12

Sortino ratioReturn per unit of downside risk
1.48
2.92

-1.44

Omega ratioGain probability vs. loss probability

1.18

1.38

-0.20

Calmar ratioReturn relative to maximum drawdown

1.20

4.81

-3.62

Martin ratioReturn relative to average drawdown

2.50

14.19

-11.69

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CXSE vs. CNYA - Sharpe Ratio Comparison

The current CXSE Sharpe Ratio is 0.99, which is lower than the CNYA Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of CXSE and CNYA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

CXSECNYADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.99

2.11

-1.12

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.25

-0.05

-0.21

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.25

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.19

0.27

-0.08

Drawdowns

CXSE vs. CNYA - Drawdown Comparison

The maximum CXSE drawdown since its inception was -70.01%, which is greater than CNYA's maximum drawdown of -49.49%. Use the drawdown chart below to compare losses from any high point for CXSE and CNYA.

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Drawdown Indicators

CXSECNYADifference

Max Drawdown

Largest peak-to-trough decline

-70.01%

-49.49%

-20.52%

Max Drawdown (1Y)

Largest decline over 1 year

-17.70%

-7.59%

-10.11%

Max Drawdown (3Y)

Largest decline over 3 years

-32.12%

-33.35%

+1.23%

Max Drawdown (5Y)

Largest decline over 5 years

-64.47%

-44.70%

-19.77%

Max Drawdown (10Y)

Largest decline over 10 years

-70.01%

—

—

Current Drawdown

Current decline from peak

-46.21%

-13.73%

-32.48%

Average Drawdown

Average peak-to-trough decline

-27.84%

-20.68%

-7.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.45%

2.57%

+5.88%

Volatility

CXSE vs. CNYA - Volatility Comparison

WisdomTree China ex-State-Owned Enterprises Fund (CXSE) has a higher volatility of 7.30% compared to iShares MSCI China A ETF (CNYA) at 6.44%. This indicates that CXSE's price experiences larger fluctuations and is considered to be riskier than CNYA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CXSECNYADifference

Volatility (1M)

Calculated over the trailing 1-month period

7.30%

6.44%

+0.86%

Volatility (6M)

Calculated over the trailing 6-month period

14.52%

12.23%

+2.29%

Volatility (1Y)

Calculated over the trailing 1-year period

21.39%

17.31%

+4.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

32.29%

23.80%

+8.49%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

28.69%

23.55%

+5.14%

CXSE vs. CNYA - Expense Ratio Comparison

CXSE has a 0.32% expense ratio, which is lower than CNYA's 0.60% expense ratio.

Dividends

CXSE vs. CNYA - Dividend Comparison

CXSE's dividend yield for the trailing twelve months is around 1.99%, more than CNYA's 1.76% yield.

PositionTTM20252024202320222021202020192018201720162015
CNYA
iShares MSCI China A ETF		1.76%1.92%2.51%4.23%2.69%1.11%1.06%1.21%3.92%0.97%1.38%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

CXSE and CNYA have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CXSE has higher volatility (7.30%) compared to CNYA (6.44%). In terms of maximum drawdown, CXSE dropped -70.01% vs CNYA's -49.49%.

On 5-year performance, CNYA leads with -1.13% vs -8.14% for CXSE. On fees, CXSE is cheaper at 0.32% per year. On volatility, CNYA has been the lower-risk option at 6.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, CNYA has performed better with a -1.13% return vs -8.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

CXSE is cheaper with a 0.32% expense ratio, compared with 0.60% for CNYA.

CXSE has the higher dividend yield at 1.99%, compared with 1.76% for CNYA.

CXSE tracks WisdomTree China ex-State-Owned Enterprises Index, while CNYA tracks MSCI China A Inclusion Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.32% for CXSE and 0.60% for CNYA.

CNYA currently has the higher Sharpe Ratio (2.11 vs 0.99), 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.

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