CXSE vs. ISVBF
CXSE (WisdomTree China ex-State-Owned Enterprises Fund) and ISVBF (iShares MSCI China A UCITS ETF) are both China Equities funds - CXSE tracks the WisdomTree China ex-State-Owned Enterprises Index while ISVBF tracks the MSCI China A Inclusion Index. Both are passively managed. Over the past 5 years, CXSE returned -8.07%/yr vs -5.16%/yr for ISVBF. At a 0.33 correlation, their price movements are largely independent. CXSE charges 0.32%/yr vs 0.40%/yr for ISVBF.
Performance
CXSE vs. ISVBF - Performance Comparison
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Returns By Period
In the year-to-date period, CXSE achieves a 0.93% return, which is significantly higher than ISVBF's -6.46% return.
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%
ISVBF
- 1D
- -2.03%
- 1M
- -2.58%
- YTD
- -6.46%
- 6M
- -7.93%
- 1Y
- 7.29%
- 3Y*
- 9.94%
- 5Y*
- -5.16%
- 10Y*
- —
CXSE vs. ISVBF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CXSE WisdomTree China ex-State-Owned Enterprises Fund | 0.93% | 37.00% | 8.56% | -18.02% | -29.32% | -22.66% |
ISVBF iShares MSCI China A UCITS ETF | -6.46% | 30.64% | 18.96% | -9.28% | -23.01% | -22.12% |
Correlation
The correlation between CXSE and ISVBF is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since May 6, 2021 | 0.33 |
Over the past year, CXSE and ISVBF have become more correlated (0.65) than their long-term average of 0.33, meaning their price movements have been converging.
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Return for Risk
CXSE vs. ISVBF — Risk / Return Rank
CXSE
ISVBF
CXSE vs. ISVBF - 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 UCITS ETF (ISVBF). 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.
| CXSE | ISVBF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.07 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.38 | 0.38 | +1.00 |
| Martin ratioReturn relative to average drawdown | 2.90 | 0.89 | +2.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CXSE | ISVBF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.14 | 0.24 | +0.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.25 | -0.17 | -0.08 |
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 | -0.15 | +0.34 |
Drawdowns
CXSE vs. ISVBF - Drawdown Comparison
The maximum CXSE drawdown since its inception was -70.01%, which is greater than ISVBF's maximum drawdown of -53.78%. Use the drawdown chart below to compare losses from any high point for CXSE and ISVBF.
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Drawdown Indicators
| CXSE | ISVBF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.01% | -53.78% | -16.23% |
Max Drawdown (1Y)Largest decline over 1 year | -17.70% | -19.18% | +1.48% |
Max Drawdown (3Y)Largest decline over 3 years | -32.12% | -23.77% | -8.35% |
Max Drawdown (5Y)Largest decline over 5 years | -64.47% | -53.22% | -11.25% |
Max Drawdown (10Y)Largest decline over 10 years | -70.01% | — | — |
Current DrawdownCurrent decline from peak | -46.01% | -24.18% | -21.83% |
Average DrawdownAverage peak-to-trough decline | -27.83% | -32.76% | +4.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.42% | 8.21% | +0.21% |
Volatility
CXSE vs. ISVBF - Volatility Comparison
The current volatility for WisdomTree China ex-State-Owned Enterprises Fund (CXSE) is 7.29%, while iShares MSCI China A UCITS ETF (ISVBF) has a volatility of 10.81%. This indicates that CXSE experiences smaller price fluctuations and is considered to be less risky than ISVBF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CXSE | ISVBF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.29% | 10.81% | -3.52% |
Volatility (6M)Calculated over the trailing 6-month period | 14.54% | 26.55% | -12.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.39% | 30.57% | -9.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.30% | 30.20% | +2.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.70% | 30.21% | -1.51% |
CXSE vs. ISVBF - Expense Ratio Comparison
CXSE has a 0.32% expense ratio, which is lower than ISVBF's 0.40% expense ratio.
Dividends
CXSE vs. ISVBF - Dividend Comparison
CXSE's dividend yield for the trailing twelve months is around 1.99%, while ISVBF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ISVBF iShares MSCI China A UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CXSE and ISVBF have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISVBF has higher volatility (10.81%) compared to CXSE (7.29%). In terms of maximum drawdown, CXSE dropped -70.01% vs ISVBF's -53.78%.
On 5-year performance, ISVBF leads with -5.16% vs -8.07% for CXSE. On fees, CXSE is cheaper at 0.32% per year. On volatility, CXSE has been the lower-risk option at 7.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ISVBF has performed better with a -5.16% return vs -8.07%. 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 0.40% for ISVBF.
CXSE has the higher dividend yield at 1.99%, compared with 0.00% for ISVBF.
CXSE tracks WisdomTree China ex-State-Owned Enterprises Index, while ISVBF tracks MSCI China A Inclusion Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.32% for CXSE and 0.40% for ISVBF.
CXSE currently has the higher Sharpe Ratio (1.14 vs 0.24), 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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