TCHI vs. CXSE

Last updated Jun 4, 2026

TCHI (iShares MSCI China Multisector Tech ETF) and CXSE (WisdomTree China ex-State-Owned Enterprises Fund) are both exchange-traded funds - TCHI is a Technology Equities fund tracking the MSCI China Technology Sub-Industries Select Capped Index - Benchmark TR Net, while CXSE is a China Equities fund tracking the WisdomTree China ex-State-Owned Enterprises Index. Both are passively managed. Over the past 3 years, TCHI returned 17.38%/yr vs 10.95%/yr for CXSE. Their correlation of 0.94 suggests significant overlap in exposure. TCHI charges 0.59%/yr vs 0.32%/yr for CXSE.

Performance

TCHI vs. CXSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI China Multisector Tech ETF (TCHI) and WisdomTree China ex-State-Owned Enterprises Fund (CXSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TCHI achieves a 11.01% return, which is significantly higher than CXSE's 0.93% return.

TCHI

• 1D: -0.54%
• 1M: 9.28%
• YTD: 11.01%
• 6M: 11.70%
• 1Y: 44.38%
• 3Y*: 17.38%
• 5Y*: —
• 10Y*: —

CXSE

• 1D: -1.05%
• 1M: 0.71%
• YTD: 0.93%
• 6M: 0.61%
• 1Y: 24.36%
• 3Y*: 10.95%
• 5Y*: -8.07%
• 10Y*: 7.43%

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

TCHI vs. CXSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TCHI iShares MSCI China Multisector Tech ETF	11.01%	33.13%	9.09%	-5.61%	-24.32%
CXSE WisdomTree China ex-State-Owned Enterprises Fund	0.93%	37.00%	8.56%	-18.02%	-27.28%

Correlation

The correlation between TCHI and CXSE is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (All Time) Calculated using the full available price history since Feb 2, 2022	0.94

The correlation between TCHI and CXSE has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

TCHI vs. CXSE - Sectors Allocation Comparison

Sectors	TCHI	CXSE
Technology	56.0%	22.6%
Consumer Cyclical	15.8%	26.2%
Industrials	13.5%	16.6%
Communication Services	10.0%	10.1%
Consumer Defensive	2.5%	3.9%
Energy	1.0%	0.4%
Financial Services	0.6%	6.2%
Basic Materials	0.3%	3.4%
Healthcare	-	8.8%
Real Estate	-	0.9%
Utilities	-	0.3%

Return for Risk

TCHI vs. CXSE — Risk / Return Rank

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

TCHI

TCHI Risk / Return Rank: 44
TCHI Sharpe Ratio Rank: 50
TCHI Sortino Ratio Rank: 48
TCHI Omega Ratio Rank: 47
TCHI Calmar Ratio Rank: 43
TCHI Martin Ratio Rank: 31

CXSE

CXSE Risk / Return Rank: 28
CXSE Sharpe Ratio Rank: 31
CXSE Sortino Ratio Rank: 30
CXSE Omega Ratio Rank: 30
CXSE Calmar Ratio Rank: 28
CXSE Martin Ratio Rank: 22

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.

TCHI vs. CXSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China Multisector Tech ETF (TCHI) 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.

	TCHI	CXSE	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.14	+0.60
Sortino ratio: Return per unit of downside risk	2.39	1.67	+0.72
Omega ratio: Gain probability vs. loss probability	1.30	1.21	+0.09
Calmar ratio: Return relative to maximum drawdown	2.15	1.38	+0.77
Martin ratio: Return relative to average drawdown	4.74	2.90	+1.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TCHI vs. CXSE - Sharpe Ratio Comparison

The current TCHI Sharpe Ratio is 1.74, which is higher than the CXSE Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of TCHI and CXSE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TCHI	CXSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	1.14	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.25	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.26	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.19	-0.10

Drawdowns

TCHI vs. CXSE - Drawdown Comparison

The maximum TCHI drawdown since its inception was -43.96%, smaller than the maximum CXSE drawdown of -70.01%. Use the drawdown chart below to compare losses from any high point for TCHI and CXSE.

Drawdown Indicators

	TCHI	CXSE	Difference
Max Drawdown Largest peak-to-trough decline	-43.96%	-70.01%	+26.05%
Max Drawdown (1Y) Largest decline over 1 year	-20.73%	-17.70%	-3.03%
Max Drawdown (3Y) Largest decline over 3 years	-27.78%	-32.12%	+4.34%
Max Drawdown (5Y) Largest decline over 5 years	—	-64.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-70.01%	—
Current Drawdown Current decline from peak	-2.88%	-46.01%	+43.13%
Average Drawdown Average peak-to-trough decline	-21.49%	-27.83%	+6.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.39%	8.42%	+0.97%

Volatility

TCHI vs. CXSE - Volatility Comparison

iShares MSCI China Multisector Tech ETF (TCHI) has a higher volatility of 9.03% compared to WisdomTree China ex-State-Owned Enterprises Fund (CXSE) at 7.29%. This indicates that TCHI'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.

Volatility by Period

	TCHI	CXSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.03%	7.29%	+1.74%
Volatility (6M) Calculated over the trailing 6-month period	17.79%	14.54%	+3.25%
Volatility (1Y) Calculated over the trailing 1-year period	25.64%	21.39%	+4.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.88%	32.30%	+2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.88%	28.70%	+6.18%

TCHI vs. CXSE - Expense Ratio Comparison

TCHI has a 0.59% expense ratio, which is higher than CXSE's 0.32% expense ratio.

Dividends

TCHI vs. CXSE - Dividend Comparison

TCHI's dividend yield for the trailing twelve months is around 2.19%, more than CXSE's 1.99% yield.

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%
TCHI iShares MSCI China Multisector Tech ETF	2.19%	2.44%	2.49%	4.28%	1.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TCHI and CXSE in my portfolio?

With a correlation of 0.92, TCHI and CXSE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TCHI or CXSE?

TCHI has higher volatility (9.03%) compared to CXSE (7.29%). In terms of maximum drawdown, TCHI dropped -43.96% vs CXSE's -70.01%.

Which ETF is better, TCHI or CXSE?

On 3-year performance, TCHI leads with 17.38% vs 10.95% for CXSE. On fees, CXSE is cheaper at 0.32% per year. On volatility, CXSE has been the lower-risk option at 7.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TCHI or CXSE?

Over the 3-year period, TCHI has performed better with a 17.38% return vs 10.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TCHI or CXSE?

CXSE is cheaper with a 0.32% expense ratio, compared with 0.59% for TCHI.

Which ETF pays a higher dividend yield, TCHI or CXSE?

TCHI has the higher dividend yield at 2.19%, compared with 1.99% for CXSE.

What is the main difference between TCHI and CXSE?

TCHI is categorized as Technology Equities, while CXSE is China Equities. TCHI tracks MSCI China Technology Sub-Industries Select Capped Index - Benchmark TR Net, while CXSE tracks WisdomTree China ex-State-Owned Enterprises Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.59% for TCHI and 0.32% for CXSE.

Which has better risk-adjusted returns?

TCHI currently has the higher Sharpe Ratio (1.74 vs 1.14), 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.