MCSMX vs. CXSE
Compare and contrast key facts about Matthews China Small Companies Fund (MCSMX) and WisdomTree China ex-State-Owned Enterprises Fund (CXSE).
MCSMX is managed by Matthews. It was launched on May 30, 2011. 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.
Performance
MCSMX vs. CXSE - Performance Comparison
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MCSMX vs. CXSE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MCSMX Matthews China Small Companies Fund | 10.66% | 28.85% | 2.82% | -17.50% | -31.25% | 6.71% | 82.73% | 35.41% | -17.65% | 53.71% |
CXSE WisdomTree China ex-State-Owned Enterprises Fund | -5.65% | 37.00% | 8.56% | -18.02% | -29.32% | -23.67% | 59.39% | 37.96% | -28.55% | 81.50% |
Returns By Period
In the year-to-date period, MCSMX achieves a 10.66% return, which is significantly higher than CXSE's -5.65% return. Over the past 10 years, MCSMX has outperformed CXSE with an annualized return of 11.23%, while CXSE has yielded a comparatively lower 6.54% annualized return.
MCSMX
- 1D
- -0.63%
- 1M
- -10.72%
- YTD
- 10.66%
- 6M
- 6.47%
- 1Y
- 31.98%
- 3Y*
- 6.45%
- 5Y*
- -2.56%
- 10Y*
- 11.23%
CXSE
- 1D
- 2.23%
- 1M
- -4.51%
- YTD
- -5.65%
- 6M
- -14.43%
- 1Y
- 13.45%
- 3Y*
- 4.74%
- 5Y*
- -9.31%
- 10Y*
- 6.54%
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MCSMX vs. CXSE - Expense Ratio Comparison
MCSMX has a 1.41% expense ratio, which is higher than CXSE's 0.32% expense ratio.
Return for Risk
MCSMX vs. CXSE — Risk / Return Rank
MCSMX
CXSE
MCSMX vs. CXSE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Matthews China Small Companies Fund (MCSMX) 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.
| MCSMX | CXSE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.48 | 0.54 | +0.94 |
Sortino ratioReturn per unit of downside risk | 1.94 | 0.87 | +1.07 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.12 | +0.17 |
Calmar ratioReturn relative to maximum drawdown | 1.32 | 0.73 | +0.59 |
Martin ratioReturn relative to average drawdown | 4.46 | 1.73 | +2.73 |
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
| MCSMX | CXSE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 0.54 | +0.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.11 | -0.29 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.23 | +0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.18 | +0.16 |
Correlation
The correlation between MCSMX and CXSE is 0.71, 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
MCSMX vs. CXSE - Dividend Comparison
MCSMX's dividend yield for the trailing twelve months is around 2.01%, less than CXSE's 2.12% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MCSMX Matthews China Small Companies Fund | 2.01% | 2.23% | 1.35% | 2.36% | 1.78% | 26.38% | 16.98% | 1.03% | 2.25% | 5.66% | 4.79% | 8.88% |
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% |
Drawdowns
MCSMX vs. CXSE - Drawdown Comparison
The maximum MCSMX drawdown since its inception was -55.77%, smaller than the maximum CXSE drawdown of -70.01%. Use the drawdown chart below to compare losses from any high point for MCSMX and CXSE.
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Drawdown Indicators
| MCSMX | CXSE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.77% | -70.01% | +14.24% |
Max Drawdown (1Y)Largest decline over 1 year | -15.69% | -17.98% | +2.29% |
Max Drawdown (5Y)Largest decline over 5 years | -53.98% | -64.47% | +10.49% |
Max Drawdown (10Y)Largest decline over 10 years | -55.77% | -70.01% | +14.24% |
Current DrawdownCurrent decline from peak | -24.92% | -49.53% | +24.61% |
Average DrawdownAverage peak-to-trough decline | -20.31% | -27.59% | +7.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.63% | 7.58% | -1.95% |
Volatility
MCSMX vs. CXSE - Volatility Comparison
Matthews China Small Companies Fund (MCSMX) has a higher volatility of 8.13% compared to WisdomTree China ex-State-Owned Enterprises Fund (CXSE) at 7.55%. This indicates that MCSMX'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
| MCSMX | CXSE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.13% | 7.55% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 14.70% | 15.29% | -0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.12% | 24.92% | -2.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.01% | 32.29% | -8.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.99% | 28.64% | -6.65% |