XCHA.DE vs. CXSE
XCHA.DE (Xtrackers CSI 300 Swap UCITS ETF 1C) and CXSE (WisdomTree China ex-State-Owned Enterprises Fund) are both China Equities funds - XCHA.DE tracks the MSCI China A Onshore NR CNY while CXSE tracks the WisdomTree China ex-State-Owned Enterprises Index. Both are passively managed. Over the past 10 years, XCHA.DE returned 9.08%/yr vs 6.98%/yr for CXSE. A 0.63 correlation means they provide meaningful diversification when combined. XCHA.DE charges 0.50%/yr vs 0.32%/yr for CXSE.
Performance
XCHA.DE vs. CXSE - Performance Comparison
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Different Trading Currencies
XCHA.DE is traded in EUR, while CXSE is traded in USD. To make them comparable, the CXSE values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, XCHA.DE achieves a 12.47% return, which is significantly higher than CXSE's 1.71% return. Over the past 10 years, XCHA.DE has outperformed CXSE with an annualized return of 9.08%, while CXSE has yielded a comparatively lower 6.98% annualized return.
XCHA.DE
- 1D
- -0.47%
- 1M
- 3.17%
- YTD
- 12.47%
- 6M
- 15.67%
- 1Y
- 39.28%
- 3Y*
- 12.45%
- 5Y*
- 3.01%
- 10Y*
- 9.08%
CXSE
- 1D
- -0.50%
- 1M
- 1.17%
- YTD
- 1.71%
- 6M
- -0.03%
- 1Y
- 19.04%
- 3Y*
- 8.18%
- 5Y*
- -7.28%
- 10Y*
- 6.98%
XCHA.DE vs. CXSE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XCHA.DE Xtrackers CSI 300 Swap UCITS ETF 1C | 12.47% | 14.69% | 24.35% | -14.26% | -19.18% | 13.33% | 31.24% | 44.98% | -21.84% | 18.89% |
CXSE WisdomTree China ex-State-Owned Enterprises Fund | 1.71% | 20.74% | 15.73% | -20.48% | -24.94% | -17.96% | 46.25% | 41.08% | -25.19% | 59.20% |
Correlation
The correlation between XCHA.DE and CXSE is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2012 | 0.63 |
The correlation between XCHA.DE and CXSE has been stable across timeframes, ranging from 0.63 to 0.72 - a consistent structural relationship.
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Return for Risk
XCHA.DE vs. CXSE — Risk / Return Rank
XCHA.DE
CXSE
XCHA.DE vs. CXSE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.DE) 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.
| XCHA.DE | CXSE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.17 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 1.17 | +1.21 |
| Martin ratioReturn relative to average drawdown | 4.62 | 2.34 | +2.28 |
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
| XCHA.DE | CXSE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 0.92 | +0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | -0.24 | +0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.25 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.22 | +0.09 |
Drawdowns
XCHA.DE vs. CXSE - Drawdown Comparison
The maximum XCHA.DE drawdown since its inception was -52.27%, smaller than the maximum CXSE drawdown of -66.54%. Use the drawdown chart below to compare losses from any high point for XCHA.DE and CXSE.
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Drawdown Indicators
| XCHA.DE | CXSE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.27% | -66.54% | +14.27% |
Max Drawdown (1Y)Largest decline over 1 year | -16.43% | -16.33% | -0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -26.32% | -30.82% | +4.50% |
Max Drawdown (5Y)Largest decline over 5 years | -37.07% | -60.83% | +23.76% |
Max Drawdown (10Y)Largest decline over 10 years | -38.55% | -66.54% | +27.99% |
Current DrawdownCurrent decline from peak | -1.81% | -44.24% | +42.43% |
Average DrawdownAverage peak-to-trough decline | -22.73% | -25.54% | +2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.48% | 8.16% | +0.32% |
Volatility
XCHA.DE vs. CXSE - Volatility Comparison
The current volatility for Xtrackers CSI 300 Swap UCITS ETF 1C (XCHA.DE) is 5.10%, while WisdomTree China ex-State-Owned Enterprises Fund (CXSE) has a volatility of 6.81%. This indicates that XCHA.DE 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.
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Volatility by Period
| XCHA.DE | CXSE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.10% | 6.81% | -1.71% |
Volatility (6M)Calculated over the trailing 6-month period | 10.37% | 13.90% | -3.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.51% | 20.91% | +5.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.27% | 30.91% | -7.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.20% | 28.08% | -4.88% |
XCHA.DE vs. CXSE - Expense Ratio Comparison
XCHA.DE has a 0.50% expense ratio, which is higher than CXSE's 0.32% expense ratio.
Dividends
XCHA.DE vs. CXSE - Dividend Comparison
XCHA.DE has not paid dividends to shareholders, while CXSE's dividend yield for the trailing twelve months is around 1.99%.
| 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% |
XCHA.DE Xtrackers CSI 300 Swap UCITS ETF 1C | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XCHA.DE and CXSE have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CXSE is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CXSE is cheaper with a 0.32% expense ratio, compared with 0.50% for XCHA.DE.
XCHA.DE tracks MSCI China A Onshore NR CNY, while CXSE tracks WisdomTree China ex-State-Owned Enterprises Index. They also come from different issuers: Xtrackers and WisdomTree. Their fees differ too: 0.50% for XCHA.DE and 0.32% for CXSE.
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