CXSE vs. FRDM
CXSE (WisdomTree China ex-State-Owned Enterprises Fund) and FRDM (Freedom 100 Emerging Markets ETF) are both exchange-traded funds - CXSE is a China Equities fund tracking the WisdomTree China ex-State-Owned Enterprises Index, while FRDM is a Emerging Markets Diversified fund tracking the Life + Liberty Freedom 100 Emerging Markets Index. Both are passively managed. Over the past 5 years, CXSE returned -8.60%/yr vs 18.68%/yr for FRDM. A 0.56 correlation means they provide meaningful diversification when combined. CXSE charges 0.32%/yr vs 0.49%/yr for FRDM.
Performance
CXSE vs. FRDM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CXSE achieves a -2.88% return, which is significantly lower than FRDM's 40.13% return.
CXSE
- 1D
- -0.05%
- 1M
- -3.10%
- YTD
- -2.88%
- 6M
- -4.37%
- 1Y
- 16.59%
- 3Y*
- 8.84%
- 5Y*
- -8.60%
- 10Y*
- 7.47%
FRDM
- 1D
- 0.49%
- 1M
- 9.04%
- YTD
- 40.13%
- 6M
- 46.37%
- 1Y
- 87.32%
- 3Y*
- 34.29%
- 5Y*
- 18.68%
- 10Y*
- —
CXSE vs. FRDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CXSE WisdomTree China ex-State-Owned Enterprises Fund | -2.88% | 37.00% | 8.56% | -18.02% | -29.32% | -23.67% | 59.39% | 20.46% |
FRDM Freedom 100 Emerging Markets ETF | 40.13% | 61.27% | 1.70% | 22.77% | -14.45% | 6.13% | 16.90% | 12.23% |
Correlation
The correlation between CXSE and FRDM is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since May 23, 2019 | 0.56 |
The correlation between CXSE and FRDM has been stable across timeframes, ranging from 0.51 to 0.56 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CXSE vs. FRDM — Risk / Return Rank
CXSE
FRDM
CXSE vs. FRDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree China ex-State-Owned Enterprises Fund (CXSE) and Freedom 100 Emerging Markets ETF (FRDM). 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 | FRDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.49 | ||
| Sortino ratioReturn per unit of downside risk | -2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.54 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 5.02 | -4.21 |
| Martin ratioReturn relative to average drawdown | 1.63 | 19.36 | -17.73 |
Loading charts...
Drawdowns
CXSE vs. FRDM - Drawdown Comparison
The maximum CXSE drawdown since its inception was -70.01%, which is greater than FRDM's maximum drawdown of -40.49%. Use the drawdown chart below to compare losses from any high point for CXSE and FRDM.
Loading charts...
Drawdown Indicators
| CXSE | FRDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.01% | -40.49% | -29.52% |
Max Drawdown (1Y)Largest decline over 1 year | -17.70% | -16.87% | -0.83% |
Max Drawdown (3Y)Largest decline over 3 years | -32.12% | -16.87% | -15.25% |
Max Drawdown (5Y)Largest decline over 5 years | -64.47% | -29.25% | -35.22% |
Max Drawdown (10Y)Largest decline over 10 years | -70.01% | — | — |
Current DrawdownCurrent decline from peak | -48.04% | -4.36% | -43.68% |
Average DrawdownAverage peak-to-trough decline | -27.86% | -7.09% | -20.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.70% | 4.37% | +4.33% |
Volatility
CXSE vs. FRDM - Volatility Comparison
The current volatility for WisdomTree China ex-State-Owned Enterprises Fund (CXSE) is 7.13%, while Freedom 100 Emerging Markets ETF (FRDM) has a volatility of 14.27%. This indicates that CXSE experiences smaller price fluctuations and is considered to be less risky than FRDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CXSE | FRDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.13% | 14.27% | -7.14% |
Volatility (6M)Calculated over the trailing 6-month period | 15.04% | 24.39% | -9.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.64% | 26.86% | -5.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.33% | 21.35% | +10.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.69% | 23.09% | +5.60% |
CXSE vs. FRDM - Expense Ratio Comparison
CXSE has a 0.32% expense ratio, which is lower than FRDM's 0.49% expense ratio.
Dividends
CXSE vs. FRDM - Dividend Comparison
CXSE's dividend yield for the trailing twelve months is around 2.06%, more than FRDM's 1.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CXSE WisdomTree China ex-State-Owned Enterprises Fund | 2.06% | 1.95% | 1.70% | 1.71% | 1.55% | 0.86% | 0.54% | 0.96% | 1.49% | 1.24% | 1.39% | 2.50% |
FRDM Freedom 100 Emerging Markets ETF | 1.56% | 2.26% | 2.53% | 2.66% | 2.72% | 2.17% | 1.11% | 1.07% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CXSE and FRDM have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRDM has higher volatility (14.27%) compared to CXSE (7.13%). In terms of maximum drawdown, CXSE dropped -70.01% vs FRDM's -40.49%.
On 5-year performance, FRDM leads with 18.68% vs -8.60% for CXSE. On fees, CXSE is cheaper at 0.32% per year. On volatility, CXSE has been the lower-risk option at 7.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FRDM has performed better with a 18.68% return vs -8.60%. 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 0.49% for FRDM.
CXSE has the higher dividend yield at 2.06%, compared with 1.56% for FRDM.
CXSE is categorized as China Equities, while FRDM is Emerging Markets Diversified. CXSE tracks WisdomTree China ex-State-Owned Enterprises Index, while FRDM tracks Life + Liberty Freedom 100 Emerging Markets Index. They also come from different issuers: WisdomTree and Freedom Funds. Their fees differ too: 0.32% for CXSE and 0.49% for FRDM.
FRDM currently has the higher Sharpe Ratio (3.15 vs 0.66), 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.
Find the right allocation for CXSE and FRDM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer