CXSE vs. MCHS
Compare and contrast key facts about WisdomTree China ex-State-Owned Enterprises Fund (CXSE) and Matthews China Discovery Active ETF (MCHS).
CXSE and MCHS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CXSE is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree China ex-State-Owned Enterprises Index. It was launched on Sep 19, 2012. MCHS is an actively managed fund by Matthews. It was launched on Jan 10, 2024.
Performance
CXSE vs. MCHS - Performance Comparison
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CXSE vs. MCHS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CXSE WisdomTree China ex-State-Owned Enterprises Fund | -5.37% | 37.00% | 15.57% |
MCHS Matthews China Discovery Active ETF | 13.36% | 31.19% | 6.53% |
Returns By Period
In the year-to-date period, CXSE achieves a -5.37% return, which is significantly lower than MCHS's 13.36% return.
CXSE
- 1D
- 0.30%
- 1M
- -3.35%
- YTD
- -5.37%
- 6M
- -14.60%
- 1Y
- 13.26%
- 3Y*
- 4.84%
- 5Y*
- -9.25%
- 10Y*
- 6.57%
MCHS
- 1D
- 2.32%
- 1M
- -9.45%
- YTD
- 13.36%
- 6M
- 9.20%
- 1Y
- 35.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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CXSE vs. MCHS - Expense Ratio Comparison
CXSE has a 0.32% expense ratio, which is lower than MCHS's 0.89% expense ratio.
Return for Risk
CXSE vs. MCHS — Risk / Return Rank
CXSE
MCHS
CXSE vs. MCHS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree China ex-State-Owned Enterprises Fund (CXSE) and Matthews China Discovery Active ETF (MCHS). 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 | MCHS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.53 | 1.37 | -0.84 |
Sortino ratioReturn per unit of downside risk | 0.86 | 1.94 | -1.08 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.29 | -0.17 |
Calmar ratioReturn relative to maximum drawdown | 0.77 | 2.23 | -1.47 |
Martin ratioReturn relative to average drawdown | 1.80 | 8.17 | -6.36 |
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 | MCHS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.53 | 1.37 | -0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.29 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.83 | -0.66 |
Correlation
The correlation between CXSE and MCHS is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
CXSE vs. MCHS - Dividend Comparison
CXSE's dividend yield for the trailing twelve months is around 2.12%, less than MCHS's 3.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CXSE WisdomTree China ex-State-Owned Enterprises Fund | 2.12% | 1.95% | 1.70% | 1.71% | 1.55% | 0.86% | 0.54% | 0.96% | 1.49% | 1.24% | 1.39% | 2.50% |
MCHS Matthews China Discovery Active ETF | 3.14% | 3.56% | 5.48% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
CXSE vs. MCHS - Drawdown Comparison
The maximum CXSE drawdown since its inception was -70.01%, which is greater than MCHS's maximum drawdown of -23.75%. Use the drawdown chart below to compare losses from any high point for CXSE and MCHS.
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Drawdown Indicators
| CXSE | MCHS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.01% | -23.75% | -46.26% |
Max Drawdown (1Y)Largest decline over 1 year | -17.70% | -15.89% | -1.81% |
Max Drawdown (5Y)Largest decline over 5 years | -64.47% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -70.01% | — | — |
Current DrawdownCurrent decline from peak | -49.38% | -9.45% | -39.93% |
Average DrawdownAverage peak-to-trough decline | -27.59% | -7.98% | -19.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.64% | 4.34% | +3.30% |
Volatility
CXSE vs. MCHS - Volatility Comparison
The current volatility for WisdomTree China ex-State-Owned Enterprises Fund (CXSE) is 6.47%, while Matthews China Discovery Active ETF (MCHS) has a volatility of 7.12%. This indicates that CXSE experiences smaller price fluctuations and is considered to be less risky than MCHS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CXSE | MCHS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.47% | 7.12% | -0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 15.27% | 15.31% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.92% | 25.73% | -0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.28% | 27.87% | +4.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.64% | 27.87% | +0.77% |