ISVBF vs. CXSE
ISVBF (iShares MSCI China A UCITS ETF) and CXSE (WisdomTree China ex-State-Owned Enterprises Fund) are both China Equities funds - ISVBF tracks the MSCI China A Inclusion Index while CXSE tracks the WisdomTree China ex-State-Owned Enterprises Index. Both are passively managed. Over the past 5 years, ISVBF returned -5.34%/yr vs -7.73%/yr for CXSE. At a 0.34 correlation, their price movements are largely independent. ISVBF charges 0.40%/yr vs 0.32%/yr for CXSE.
Performance
ISVBF vs. CXSE - Performance Comparison
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Returns By Period
In the year-to-date period, ISVBF achieves a -8.71% return, which is significantly lower than CXSE's -2.26% return.
ISVBF
- 1D
- 1.84%
- 1M
- -1.17%
- 6M
- -13.00%
- YTD
- -8.71%
- 1Y
- -1.01%
- 3Y*
- 8.64%
- 5Y*
- -5.34%
- 10Y*
- —
CXSE
- 1D
- 1.20%
- 1M
- -1.67%
- 6M
- -7.01%
- YTD
- -2.26%
- 1Y
- 10.16%
- 3Y*
- 8.45%
- 5Y*
- -7.73%
- 10Y*
- 6.83%
ISVBF vs. CXSE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ISVBF iShares MSCI China A UCITS ETF | -8.71% | 30.64% | 18.96% | -9.28% | -23.01% | -22.12% |
CXSE WisdomTree China ex-State-Owned Enterprises Fund | -2.26% | 37.00% | 8.56% | -18.02% | -29.32% | -22.83% |
Correlation
The correlation between ISVBF and CXSE 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 | 0.49 |
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, ISVBF and CXSE 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
ISVBF vs. CXSE — Risk / Return Rank
ISVBF
CXSE
ISVBF vs. CXSE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China A UCITS ETF (ISVBF) 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.
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.
| ISVBF | CXSE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.10 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 0.58 | -0.62 |
| Martin ratioReturn relative to average drawdown | -0.10 | 1.06 | -1.16 |
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Drawdowns
ISVBF vs. CXSE - Drawdown Comparison
The maximum ISVBF drawdown since its inception was -53.78%, smaller than the maximum CXSE drawdown of -70.01%. Use the drawdown chart below to compare losses from any high point for ISVBF and CXSE.
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Drawdown Indicators
| ISVBF | CXSE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.78% | -70.01% | +16.23% |
Max Drawdown (1Y)Largest decline over 1 year | -24.14% | -17.70% | -6.44% |
Max Drawdown (3Y)Largest decline over 3 years | -24.14% | -32.12% | +7.98% |
Max Drawdown (5Y)Largest decline over 5 years | -52.51% | -61.65% | +9.14% |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.01% | — |
Current DrawdownCurrent decline from peak | -26.01% | -47.72% | +21.71% |
Average DrawdownAverage peak-to-trough decline | -32.64% | -27.99% | -4.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.49% | 9.58% | +0.91% |
Volatility
ISVBF vs. CXSE - Volatility Comparison
iShares MSCI China A UCITS ETF (ISVBF) has a higher volatility of 7.72% compared to WisdomTree China ex-State-Owned Enterprises Fund (CXSE) at 7.34%. This indicates that ISVBF'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.
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Volatility by Period
| ISVBF | CXSE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.72% | 7.34% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 27.02% | 15.72% | +11.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.48% | 22.28% | +9.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.46% | 32.35% | -1.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.13% | 28.76% | +1.37% |
ISVBF vs. CXSE - Expense Ratio Comparison
ISVBF has a 0.40% expense ratio, which is higher than CXSE's 0.32% expense ratio.
Dividends
ISVBF vs. CXSE - Dividend Comparison
ISVBF has not paid dividends to shareholders, while CXSE's dividend yield for the trailing twelve months is around 1.48%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CXSE WisdomTree China ex-State-Owned Enterprises Fund | 1.48% | 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
ISVBF and CXSE 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 (7.72%) compared to CXSE (7.34%). In terms of maximum drawdown, ISVBF dropped -53.78% vs CXSE's -70.01%.
On 5-year performance, ISVBF leads with -5.34% vs -7.73% for CXSE. On fees, CXSE is cheaper at 0.32% per year. On volatility, CXSE has been the lower-risk option at 7.34%. 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 -5.34% return vs -7.73%. 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 1.48%, compared with 0.00% for ISVBF.
ISVBF tracks MSCI China A Inclusion Index, while CXSE tracks WisdomTree China ex-State-Owned Enterprises Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.40% for ISVBF and 0.32% for CXSE.
CXSE currently has the higher Sharpe Ratio (0.46 vs -0.03), 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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