PGJ vs. CXSE
Compare and contrast key facts about Invesco Golden Dragon China ETF (PGJ) and WisdomTree China ex-State-Owned Enterprises Fund (CXSE).
PGJ and CXSE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PGJ is a passively managed fund by Invesco that tracks the performance of the Halter USX China Index. It was launched on Dec 9, 2004. 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. Both PGJ and CXSE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PGJ or CXSE.
Key characteristics
| PGJ | CXSE | |
|---|---|---|
| YTD Return | 8.15% | 15.96% |
| 1Y Return | 12.84% | 11.93% |
| 3Y Return (Ann) | -12.98% | -14.97% |
| 5Y Return (Ann) | -6.26% | -2.84% |
| 10Y Return (Ann) | -0.17% | 3.64% |
| Sharpe Ratio | 0.30 | 0.30 |
| Sortino Ratio | 0.72 | 0.70 |
| Omega Ratio | 1.08 | 1.09 |
| Calmar Ratio | 0.14 | 0.14 |
| Martin Ratio | 0.85 | 0.83 |
| Ulcer Index | 12.11% | 12.10% |
| Daily Std Dev | 34.26% | 33.28% |
| Max Drawdown | -78.37% | -70.01% |
| Current Drawdown | -65.75% | -58.29% |
Correlation
The correlation between PGJ and CXSE is 0.76, 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.
Performance
PGJ vs. CXSE - Performance Comparison
In the year-to-date period, PGJ achieves a 8.15% return, which is significantly lower than CXSE's 15.96% return. Over the past 10 years, PGJ has underperformed CXSE with an annualized return of -0.17%, while CXSE has yielded a comparatively higher 3.64% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PGJ vs. CXSE - Expense Ratio Comparison
PGJ has a 0.70% expense ratio, which is higher than CXSE's 0.32% expense ratio.
Risk-Adjusted Performance
PGJ vs. CXSE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Golden Dragon China ETF (PGJ) 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.
Dividends
PGJ vs. CXSE - Dividend Comparison
PGJ's dividend yield for the trailing twelve months is around 5.83%, more than CXSE's 1.70% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGJ Invesco Golden Dragon China ETF | 5.83% | 2.50% | 0.84% | 0.00% | 0.31% | 0.17% | 0.31% | 2.05% | 1.94% | 0.37% | 0.89% | 0.96% |
CXSE WisdomTree China ex-State-Owned Enterprises Fund | 1.70% | 1.71% | 1.55% | 0.86% | 0.54% | 0.96% | 1.49% | 1.24% | 1.39% | 1.02% | 2.29% | 2.75% |
Drawdowns
PGJ vs. CXSE - Drawdown Comparison
The maximum PGJ drawdown since its inception was -78.37%, which is greater than CXSE's maximum drawdown of -70.01%. Use the drawdown chart below to compare losses from any high point for PGJ and CXSE. For additional features, visit the drawdowns tool.
Volatility
PGJ vs. CXSE - Volatility Comparison
The current volatility for Invesco Golden Dragon China ETF (PGJ) is 11.81%, while WisdomTree China ex-State-Owned Enterprises Fund (CXSE) has a volatility of 12.87%. This indicates that PGJ experiences smaller price fluctuations and is considered to be less risky than CXSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.