CXSE vs. NTSX

Last updated Jun 4, 2026

CXSE (WisdomTree China ex-State-Owned Enterprises Fund) and NTSX (WisdomTree U.S. Efficient Core Fund) are both exchange-traded funds - CXSE is a China Equities fund tracking the WisdomTree China ex-State-Owned Enterprises Index, while NTSX is a Diversified Portfolio fund actively managed by WisdomTree. CXSE is passively managed, while NTSX is actively managed. Over the past 5 years, CXSE returned -8.07%/yr vs 9.69%/yr for NTSX. At a 0.45 correlation, their price movements are largely independent. CXSE charges 0.32%/yr vs 0.20%/yr for NTSX.

Performance

CXSE vs. NTSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree China ex-State-Owned Enterprises Fund (CXSE) and WisdomTree U.S. Efficient Core Fund (NTSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CXSE achieves a 0.93% return, which is significantly lower than NTSX's 8.62% 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%

NTSX

• 1D: -1.05%
• 1M: 4.37%
• YTD: 8.62%
• 6M: 7.83%
• 1Y: 25.27%
• 3Y*: 19.38%
• 5Y*: 9.69%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CXSE vs. NTSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CXSE WisdomTree China ex-State-Owned Enterprises Fund	0.93%	37.00%	8.56%	-18.02%	-29.32%	-23.67%	59.39%	37.96%	-18.75%
NTSX WisdomTree U.S. Efficient Core Fund	8.62%	18.82%	20.20%	22.70%	-25.84%	22.21%	24.87%	32.03%	-8.72%

Correlation

The correlation between CXSE and NTSX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Aug 3, 2018	0.45

CXSE vs. NTSX - Sectors Allocation Comparison

Sectors	CXSE	NTSX
Consumer Cyclical	26.2%	10.1%
Technology	22.6%	35.1%
Industrials	16.6%	7.7%
Communication Services	10.1%	12.5%
Healthcare	8.8%	8.4%
Financial Services	6.2%	12.3%
Consumer Defensive	3.9%	5.5%
Basic Materials	3.4%	1.4%
Real Estate	0.9%	1.5%
Energy	0.4%	3.5%
Utilities	0.3%	2.1%

Return for Risk

CXSE vs. NTSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CXSE

CXSE Risk / Return Rank: 28
CXSE Sharpe Ratio Rank: 31
CXSE Sortino Ratio Rank: 30
CXSE Omega Ratio Rank: 30
CXSE Calmar Ratio Rank: 28
CXSE Martin Ratio Rank: 22

NTSX

NTSX Risk / Return Rank: 60
NTSX Sharpe Ratio Rank: 60
NTSX Sortino Ratio Rank: 58
NTSX Omega Ratio Rank: 59
NTSX Calmar Ratio Rank: 55
NTSX Martin Ratio Rank: 66

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. NTSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree China ex-State-Owned Enterprises Fund (CXSE) and WisdomTree U.S. Efficient Core Fund (NTSX). 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	NTSX	Difference
Sharpe ratio: Return per unit of total volatility	1.14	2.06	-0.92
Sortino ratio: Return per unit of downside risk	1.67	2.81	-1.14
Omega ratio: Gain probability vs. loss probability	1.21	1.37	-0.16
Calmar ratio: Return relative to maximum drawdown	1.38	2.77	-1.39
Martin ratio: Return relative to average drawdown	2.90	12.25	-9.35
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. NTSX - Sharpe Ratio Comparison

The current CXSE Sharpe Ratio is 1.14, which is lower than the NTSX Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of CXSE and NTSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CXSE	NTSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	2.06	-0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.25	0.57	-0.82
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	0.71	-0.52

Drawdowns

CXSE vs. NTSX - Drawdown Comparison

The maximum CXSE drawdown since its inception was -70.01%, which is greater than NTSX's maximum drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for CXSE and NTSX.

Drawdown Indicators

	CXSE	NTSX	Difference
Max Drawdown Largest peak-to-trough decline	-70.01%	-31.34%	-38.67%
Max Drawdown (1Y) Largest decline over 1 year	-17.70%	-9.16%	-8.54%
Max Drawdown (3Y) Largest decline over 3 years	-32.12%	-16.82%	-15.30%
Max Drawdown (5Y) Largest decline over 5 years	-64.47%	-31.34%	-33.13%
Max Drawdown (10Y) Largest decline over 10 years	-70.01%	—	—
Current Drawdown Current decline from peak	-46.01%	-1.05%	-44.96%
Average Drawdown Average peak-to-trough decline	-27.83%	-6.79%	-21.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.42%	2.07%	+6.35%

Volatility

CXSE vs. NTSX - Volatility Comparison

WisdomTree China ex-State-Owned Enterprises Fund (CXSE) has a higher volatility of 7.29% compared to WisdomTree U.S. Efficient Core Fund (NTSX) at 3.39%. This indicates that CXSE's price experiences larger fluctuations and is considered to be riskier than NTSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CXSE	NTSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.29%	3.39%	+3.90%
Volatility (6M) Calculated over the trailing 6-month period	14.54%	9.58%	+4.96%
Volatility (1Y) Calculated over the trailing 1-year period	21.39%	12.31%	+9.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.30%	17.04%	+15.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.70%	18.27%	+10.43%

CXSE vs. NTSX - Expense Ratio Comparison

CXSE has a 0.32% expense ratio, which is higher than NTSX's 0.20% expense ratio.

Dividends

CXSE vs. NTSX - Dividend Comparison

CXSE's dividend yield for the trailing twelve months is around 1.99%, more than NTSX's 1.08% yield.

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%
NTSX WisdomTree U.S. Efficient Core Fund	1.08%	1.14%	1.14%	1.21%	1.36%	0.82%	0.92%	1.42%	0.62%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CXSE and NTSX in my portfolio?

CXSE and NTSX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CXSE or NTSX?

CXSE has higher volatility (7.29%) compared to NTSX (3.39%). In terms of maximum drawdown, CXSE dropped -70.01% vs NTSX's -31.34%.

Which ETF is better, CXSE or NTSX?

On 5-year performance, NTSX leads with 9.69% vs -8.07% for CXSE. On fees, NTSX is cheaper at 0.20% per year. On volatility, NTSX has been the lower-risk option at 3.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CXSE or NTSX?

Over the 5-year period, NTSX has performed better with a 9.69% return vs -8.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CXSE or NTSX?

NTSX is cheaper with a 0.20% expense ratio, compared with 0.32% for CXSE.

Which ETF pays a higher dividend yield, CXSE or NTSX?

CXSE has the higher dividend yield at 1.99%, compared with 1.08% for NTSX.

What is the main difference between CXSE and NTSX?

CXSE is categorized as China Equities, while NTSX is Diversified Portfolio. Their fees differ too: 0.32% for CXSE and 0.20% for NTSX.

Which has better risk-adjusted returns?

NTSX currently has the higher Sharpe Ratio (2.06 vs 1.14), 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.