NTSE vs. CLIP

Last updated Jun 21, 2026

NTSE (WisdomTree Emerging Markets Efficient Core Fund) and CLIP (Global X 1-3 Month T-Bill ETF) are both exchange-traded funds - NTSE is a Diversified Portfolio fund actively managed by WisdomTree, while CLIP is a Ultrashort Bond fund tracking the Solactive 1-3 month US T-Bill Index - USD. NTSE is actively managed, while CLIP is passively managed. Over the past year, NTSE returned 62.08% vs 3.94% for CLIP. At a correlation of -0.04, they often move in opposite directions. NTSE charges 0.38%/yr vs 0.07%/yr for CLIP.

Performance

NTSE vs. CLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Emerging Markets Efficient Core Fund (NTSE) and Global X 1-3 Month T-Bill ETF (CLIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NTSE achieves a 33.62% return, which is significantly higher than CLIP's 1.68% return.

NTSE

• 1D: 3.54%
• 1M: 8.84%
• YTD: 33.62%
• 6M: 36.52%
• 1Y: 62.08%
• 3Y*: 23.97%
• 5Y*: 7.21%
• 10Y*: —

CLIP

• 1D: 0.04%
• 1M: 0.30%
• YTD: 1.68%
• 6M: 1.80%
• 1Y: 3.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NTSE vs. CLIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NTSE WisdomTree Emerging Markets Efficient Core Fund	33.62%	36.29%	4.42%	1.85%
CLIP Global X 1-3 Month T-Bill ETF	1.68%	4.23%	5.26%	2.82%

Correlation

The correlation between NTSE and CLIP is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (All Time) Calculated using the full available price history since Jun 21, 2023	-0.04

Return for Risk

NTSE vs. CLIP — Risk / Return Rank

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

NTSE

NTSE Risk / Return Rank: 85
NTSE Sharpe Ratio Rank: 87
NTSE Sortino Ratio Rank: 83
NTSE Omega Ratio Rank: 87
NTSE Calmar Ratio Rank: 84
NTSE Martin Ratio Rank: 83

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP Martin Ratio Rank: 100

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.

NTSE vs. CLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Efficient Core Fund (NTSE) and Global X 1-3 Month T-Bill ETF (CLIP). 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.

	NTSE	CLIP	Difference
Sharpe ratio: Return per unit of total volatility	2.69	17.97	-15.28
Sortino ratio: Return per unit of downside risk	3.48	81.28	-77.80
Omega ratio: Gain probability vs. loss probability	1.50	26.48	-24.97
Calmar ratio: Return relative to maximum drawdown	4.33	142.41	-138.08
Martin ratio: Return relative to average drawdown	16.00	1,288.03	-1,272.03

NTSE vs. CLIP - Sharpe Ratio Comparison

The current NTSE Sharpe Ratio is 2.69, which is lower than the CLIP Sharpe Ratio of 17.97. The chart below compares the historical Sharpe Ratios of NTSE and CLIP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NTSE vs. CLIP - Drawdown Comparison

The maximum NTSE drawdown since its inception was -42.84%, which is greater than CLIP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for NTSE and CLIP.

Drawdown Indicators

	NTSE	CLIP	Difference
Max Drawdown Largest peak-to-trough decline	-42.84%	-0.08%	-42.76%
Max Drawdown (1Y) Largest decline over 1 year	-14.20%	-0.03%	-14.17%
Max Drawdown (3Y) Largest decline over 3 years	-18.73%	-0.08%	-18.65%
Max Drawdown (5Y) Largest decline over 5 years	-42.65%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-19.59%	-0.00%	-19.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.83%	0.00%	+3.83%

Volatility

NTSE vs. CLIP - Volatility Comparison

WisdomTree Emerging Markets Efficient Core Fund (NTSE) has a higher volatility of 11.39% compared to Global X 1-3 Month T-Bill ETF (CLIP) at 0.07%. This indicates that NTSE's price experiences larger fluctuations and is considered to be riskier than CLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NTSE	CLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.39%	0.07%	+11.32%
Volatility (6M) Calculated over the trailing 6-month period	20.66%	0.15%	+20.51%
Volatility (1Y) Calculated over the trailing 1-year period	22.82%	0.22%	+22.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.74%	0.44%	+19.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.65%	0.44%	+19.21%

NTSE vs. CLIP - Expense Ratio Comparison

NTSE has a 0.38% expense ratio, which is higher than CLIP's 0.07% expense ratio.

Dividends

NTSE vs. CLIP - Dividend Comparison

NTSE's dividend yield for the trailing twelve months is around 2.48%, less than CLIP's 3.90% yield.

Position	TTM	2025	2024	2023	2022	2021
CLIP Global X 1-3 Month T-Bill ETF	3.90%	4.14%	5.11%	2.75%	0.00%	0.00%
NTSE WisdomTree Emerging Markets Efficient Core Fund	2.48%	3.35%	3.23%	2.44%	3.22%	2.10%

Frequently Asked Questions

Can I hold both NTSE and CLIP in my portfolio?

NTSE and CLIP have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NTSE or CLIP?

NTSE has higher volatility (11.39%) compared to CLIP (0.07%). In terms of maximum drawdown, NTSE dropped -42.84% vs CLIP's -0.08%.

Which ETF is better, NTSE or CLIP?

On 1-year performance, NTSE leads with 62.08% vs 3.94% for CLIP. On fees, CLIP is cheaper at 0.07% per year. On volatility, CLIP has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NTSE or CLIP?

Over the 1-year period, NTSE has performed better with a 62.08% return vs 3.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NTSE or CLIP?

CLIP is cheaper with a 0.07% expense ratio, compared with 0.38% for NTSE.

Which ETF pays a higher dividend yield, NTSE or CLIP?

CLIP has the higher dividend yield at 3.90%, compared with 2.48% for NTSE.

What is the main difference between NTSE and CLIP?

NTSE is categorized as Diversified Portfolio, while CLIP is Ultrashort Bond. They also come from different issuers: WisdomTree and Global X. Their fees differ too: 0.38% for NTSE and 0.07% for CLIP.

Which has better risk-adjusted returns?

CLIP currently has the higher Sharpe Ratio (17.97 vs 2.69), 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.