ICGA.DE vs. CXSE
ICGA.DE (iShares MSCI China UCITS ETF USD Acc) and CXSE (WisdomTree China ex-State-Owned Enterprises Fund) are both China Equities funds - ICGA.DE tracks the MSCI China while CXSE tracks the WisdomTree China ex-State-Owned Enterprises Index. Both are passively managed. Over the past 5 years, ICGA.DE returned -4.32%/yr vs -7.28%/yr for CXSE. Their correlation of 0.84 suggests significant overlap in exposure. ICGA.DE charges 0.28%/yr vs 0.32%/yr for CXSE.
Performance
ICGA.DE vs. CXSE - Performance Comparison
Loading charts...
Different Trading Currencies
ICGA.DE is traded in EUR, while CXSE is traded in USD. To make them comparable, the CXSE values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ICGA.DE achieves a -6.86% return, which is significantly lower than CXSE's 1.71% return.
ICGA.DE
- 1D
- -0.54%
- 1M
- -2.09%
- YTD
- -6.86%
- 6M
- -8.51%
- 1Y
- 2.73%
- 3Y*
- 7.72%
- 5Y*
- -4.32%
- 10Y*
- —
CXSE
- 1D
- -0.50%
- 1M
- 1.17%
- YTD
- 1.71%
- 6M
- -0.03%
- 1Y
- 19.04%
- 3Y*
- 8.18%
- 5Y*
- -7.28%
- 10Y*
- 6.98%
ICGA.DE vs. CXSE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ICGA.DE iShares MSCI China UCITS ETF USD Acc | -6.86% | 16.64% | 27.28% | -14.71% | -15.17% | -17.27% | 15.31% | 14.05% |
CXSE WisdomTree China ex-State-Owned Enterprises Fund | 1.71% | 20.74% | 15.73% | -20.48% | -24.94% | -17.96% | 46.25% | 17.51% |
Correlation
The correlation between ICGA.DE and CXSE is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2019 | 0.84 |
The correlation between ICGA.DE and CXSE has been stable across timeframes, ranging from 0.83 to 0.86 - 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
ICGA.DE vs. CXSE — Risk / Return Rank
ICGA.DE
CXSE
ICGA.DE vs. CXSE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China UCITS ETF USD Acc (ICGA.DE) and WisdomTree China ex-State-Owned Enterprises Fund (CXSE). 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.
| ICGA.DE | CXSE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.17 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.16 | 1.17 | -1.01 |
| Martin ratioReturn relative to average drawdown | 0.34 | 2.34 | -2.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ICGA.DE | CXSE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.15 | 0.92 | -0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.15 | -0.24 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.25 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | 0.22 | -0.18 |
Drawdowns
ICGA.DE vs. CXSE - Drawdown Comparison
The maximum ICGA.DE drawdown since its inception was -55.95%, smaller than the maximum CXSE drawdown of -66.54%. Use the drawdown chart below to compare losses from any high point for ICGA.DE and CXSE.
Loading charts...
Drawdown Indicators
| ICGA.DE | CXSE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.95% | -66.54% | +10.59% |
Max Drawdown (1Y)Largest decline over 1 year | -16.84% | -16.33% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -24.41% | -30.82% | +6.41% |
Max Drawdown (5Y)Largest decline over 5 years | -49.32% | -60.83% | +11.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -66.54% | — |
Current DrawdownCurrent decline from peak | -32.56% | -44.24% | +11.68% |
Average DrawdownAverage peak-to-trough decline | -28.80% | -25.54% | -3.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.08% | 8.16% | -0.08% |
Volatility
ICGA.DE vs. CXSE - Volatility Comparison
iShares MSCI China UCITS ETF USD Acc (ICGA.DE) has a higher volatility of 7.19% compared to WisdomTree China ex-State-Owned Enterprises Fund (CXSE) at 6.81%. This indicates that ICGA.DE's price experiences larger fluctuations and is considered to be riskier than CXSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ICGA.DE | CXSE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.19% | 6.81% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 13.31% | 13.90% | -0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.64% | 20.91% | -2.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.66% | 30.91% | -3.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.97% | 28.08% | -1.11% |
ICGA.DE vs. CXSE - Expense Ratio Comparison
ICGA.DE has a 0.28% expense ratio, which is lower than CXSE's 0.32% expense ratio.
Dividends
ICGA.DE vs. CXSE - Dividend Comparison
ICGA.DE has not paid dividends to shareholders, while CXSE's dividend yield for the trailing twelve months is around 1.99%.
| 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% |
ICGA.DE iShares MSCI China UCITS ETF USD Acc | 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
ICGA.DE and CXSE have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICGA.DE is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICGA.DE is cheaper with a 0.28% expense ratio, compared with 0.32% for CXSE.
ICGA.DE tracks MSCI China, while CXSE tracks WisdomTree China ex-State-Owned Enterprises Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.28% for ICGA.DE and 0.32% for CXSE.
Find the right allocation for ICGA.DE and CXSE
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