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 -9.30%/yr vs -6.48%/yr for ISVBF. At a 0.34 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 -4.16% return, which is significantly higher than ISVBF's -14.08% return.
CXSE
- 1D
- -0.29%
- 1M
- -3.14%
- YTD
- -4.16%
- 6M
- -5.53%
- 1Y
- 12.86%
- 3Y*
- 10.02%
- 5Y*
- -9.30%
- 10Y*
- 7.01%
ISVBF
- 1D
- -1.68%
- 1M
- -5.25%
- YTD
- -14.08%
- 6M
- -14.23%
- 1Y
- -5.03%
- 3Y*
- 8.21%
- 5Y*
- -6.48%
- 10Y*
- —
CXSE vs. ISVBF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CXSE WisdomTree China ex-State-Owned Enterprises Fund | -4.16% | 37.00% | 8.56% | -18.02% | -29.32% | -22.83% |
ISVBF iShares MSCI China A UCITS ETF | -14.08% | 30.64% | 18.96% | -9.28% | -23.01% | -22.12% |
Correlation
The correlation between CXSE and ISVBF is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.34 |
Over the past year, CXSE and ISVBF have become more correlated (0.64) than their long-term average of 0.34, 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.
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 | ISVBF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.00 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.73 | -0.23 | +0.96 |
| Martin ratioReturn relative to average drawdown | 1.44 | -0.54 | +1.98 |
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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% | -21.97% | +4.27% |
Max Drawdown (3Y)Largest decline over 3 years | -32.12% | -23.77% | -8.35% |
Max Drawdown (5Y)Largest decline over 5 years | -64.47% | -52.51% | -11.96% |
Max Drawdown (10Y)Largest decline over 10 years | -70.01% | — | — |
Current DrawdownCurrent decline from peak | -48.73% | -30.36% | -18.37% |
Average DrawdownAverage peak-to-trough decline | -27.90% | -32.68% | +4.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.96% | 9.28% | -0.32% |
Volatility
CXSE vs. ISVBF - Volatility Comparison
The current volatility for WisdomTree China ex-State-Owned Enterprises Fund (CXSE) is 7.43%, while iShares MSCI China A UCITS ETF (ISVBF) has a volatility of 8.48%. 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 | 7.43% | 8.48% | -1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 15.56% | 26.93% | -11.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.86% | 30.96% | -9.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.37% | 30.32% | +2.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.73% | 30.15% | -1.42% |
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 2.09%, 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 | 2.09% | 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 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISVBF has higher volatility (8.48%) compared to CXSE (7.43%). In terms of maximum drawdown, CXSE dropped -70.01% vs ISVBF's -53.78%.
On 5-year performance, ISVBF leads with -6.48% vs -9.30% for CXSE. On fees, CXSE is cheaper at 0.32% per year. On volatility, CXSE has been the lower-risk option at 7.43%. 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 -6.48% return vs -9.30%. 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 2.09%, 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 (0.60 vs -0.16), 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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