XC vs. USFR

Last updated Jun 3, 2026

XC (WisdomTree Emerging Markets ex-China Fund) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - XC is a Emerging Markets Diversified fund tracking the WisdomTree Emerging Markets ex-China Index - Benchmark TR Net, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 3 years, XC returned 10.44%/yr vs 4.76%/yr for USFR. At a correlation of -0.05, they often move in opposite directions. XC charges 0.32%/yr vs 0.15%/yr for USFR.

Performance

XC vs. USFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Emerging Markets ex-China Fund (XC) and WisdomTree Floating Rate Treasury Fund (USFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XC achieves a -1.96% return, which is significantly lower than USFR's 1.60% return.

XC

• 1D: 0.37%
• 1M: -1.07%
• YTD: -1.96%
• 6M: -0.86%
• 1Y: 10.08%
• 3Y*: 10.44%
• 5Y*: —
• 10Y*: —

USFR

• 1D: 0.02%
• 1M: 0.29%
• YTD: 1.60%
• 6M: 1.98%
• 1Y: 4.03%
• 3Y*: 4.76%
• 5Y*: 3.66%
• 10Y*: 2.47%

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

XC vs. USFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XC WisdomTree Emerging Markets ex-China Fund	-1.96%	18.19%	5.49%	21.31%	1.49%
USFR WisdomTree Floating Rate Treasury Fund	1.60%	4.23%	5.47%	5.18%	0.99%

Correlation

The correlation between XC and USFR is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Sep 23, 2022	-0.05

Return for Risk

XC vs. USFR — Risk / Return Rank

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

XC

XC Risk / Return Rank: 20
XC Sharpe Ratio Rank: 20
XC Sortino Ratio Rank: 21
XC Omega Ratio Rank: 20
XC Calmar Ratio Rank: 19
XC Martin Ratio Rank: 20

USFR

USFR Risk / Return Rank: 100
USFR Sharpe Ratio Rank: 100
USFR Sortino Ratio Rank: 100
USFR Omega Ratio Rank: 100
USFR Calmar Ratio Rank: 100
USFR 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.

XC vs. USFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets ex-China Fund (XC) and WisdomTree Floating Rate Treasury Fund (USFR). 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.

	XC	USFR	Difference
Sharpe ratio Return per unit of total volatility	0.69	15.11	-14.42
Sortino ratio Return per unit of downside risk	1.08	50.64	-49.56
Omega ratio Gain probability vs. loss probability	1.13	13.43	-12.30
Calmar ratio Return relative to maximum drawdown	0.83	203.42	-202.58
Martin ratio Return relative to average drawdown	2.45	787.84	-785.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XC vs. USFR - Sharpe Ratio Comparison

The current XC Sharpe Ratio is 0.69, which is lower than the USFR Sharpe Ratio of 15.11. The chart below compares the historical Sharpe Ratios of XC and USFR, 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

	XC	USFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.69	15.11	-14.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	9.26	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	3.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	1.60	-0.86

Drawdowns

XC vs. USFR - Drawdown Comparison

The maximum XC drawdown since its inception was -20.97%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for XC and USFR.

Drawdown Indicators

	XC	USFR	Difference
Max Drawdown Largest peak-to-trough decline	-20.97%	-1.36%	-19.61%
Max Drawdown (1Y) Largest decline over 1 year	-12.47%	-0.02%	-12.45%
Max Drawdown (3Y) Largest decline over 3 years	-20.97%	-0.06%	-20.91%
Max Drawdown (5Y) Largest decline over 5 years	—	-0.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.80%	—
Current Drawdown Current decline from peak	-7.94%	0.00%	-7.94%
Average Drawdown Average peak-to-trough decline	-4.11%	-0.16%	-3.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.25%	0.01%	+4.24%

Volatility

XC vs. USFR - Volatility Comparison

WisdomTree Emerging Markets ex-China Fund (XC) has a higher volatility of 4.83% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.06%. This indicates that XC's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XC	USFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	0.06%	+4.77%
Volatility (6M) Calculated over the trailing 6-month period	12.51%	0.18%	+12.33%
Volatility (1Y) Calculated over the trailing 1-year period	14.70%	0.27%	+14.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.86%	0.40%	+15.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.86%	0.81%	+15.05%

XC vs. USFR - Expense Ratio Comparison

XC has a 0.32% expense ratio, which is higher than USFR's 0.15% expense ratio.

Dividends

XC vs. USFR - Dividend Comparison

XC's dividend yield for the trailing twelve months is around 12.22%, more than USFR's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
USFR WisdomTree Floating Rate Treasury Fund	3.91%	4.15%	5.17%	5.12%	1.78%	0.01%	0.40%	2.08%	1.67%	1.03%	0.29%
XC WisdomTree Emerging Markets ex-China Fund	12.22%	11.74%	1.49%	1.42%	0.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XC and USFR in my portfolio?

XC and USFR 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, XC or USFR?

XC has higher volatility (4.83%) compared to USFR (0.06%). In terms of maximum drawdown, XC dropped -20.97% vs USFR's -1.36%.

Which ETF is better, XC or USFR?

On 3-year performance, XC leads with 10.44% vs 4.76% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XC or USFR?

Over the 3-year period, XC has performed better with a 10.44% return vs 4.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XC or USFR?

USFR is cheaper with a 0.15% expense ratio, compared with 0.32% for XC.

Which ETF pays a higher dividend yield, XC or USFR?

XC has the higher dividend yield at 12.22%, compared with 3.91% for USFR.

What is the main difference between XC and USFR?

XC is categorized as Emerging Markets Diversified, while USFR is Government Bonds. XC tracks WisdomTree Emerging Markets ex-China Index - Benchmark TR Net, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. Their fees differ too: 0.32% for XC and 0.15% for USFR.

Which has better risk-adjusted returns?

USFR currently has the higher Sharpe Ratio (15.11 vs 0.69), 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.