XCNY vs. STXE

Last updated Jun 6, 2026

XCNY (SPDR S&P Emerging Markets ex-China ETF) and STXE (Strive Emerging Markets Ex-China ETF) are both Emerging Markets Diversified funds - XCNY tracks the S&P Emerging ex-China BMI while STXE tracks the Bloomberg US 1000 Dividend Growth Index - Benchmark TR Gross. Both are passively managed. Over the past year, XCNY returned 30.73% vs 64.77% for STXE. Their correlation of 0.88 suggests significant overlap in exposure. XCNY charges 0.15%/yr vs 0.32%/yr for STXE.

Performance

XCNY vs. STXE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Emerging Markets ex-China ETF (XCNY) and Strive Emerging Markets Ex-China ETF (STXE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XCNY achieves a 14.37% return, which is significantly lower than STXE's 34.11% return.

XCNY

• 1D: -4.45%
• 1M: -3.03%
• YTD: 14.37%
• 6M: 17.01%
• 1Y: 30.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

STXE

• 1D: -7.80%
• 1M: -1.63%
• YTD: 34.11%
• 6M: 37.97%
• 1Y: 64.77%
• 3Y*: 25.54%
• 5Y*: —
• 10Y*: —

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

XCNY vs. STXE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XCNY SPDR S&P Emerging Markets ex-China ETF	14.37%	20.42%	-3.51%
STXE Strive Emerging Markets Ex-China ETF	34.11%	34.23%	-5.50%

Correlation

The correlation between XCNY and STXE is 0.89, 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	0.89
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	0.88

The correlation between XCNY and STXE has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

XCNY vs. STXE - Sectors Allocation Comparison

Sectors	XCNY	STXE
Technology	36.1%	47.7%
Financial Services	21.7%	22.5%
Basic Materials	8.7%	7.1%
Industrials	7.7%	5.9%
Consumer Cyclical	5.6%	4.0%
Energy	4.9%	3.9%
Consumer Defensive	3.6%	2.2%
Communication Services	3.5%	3.2%
Utilities	3.3%	2.0%
Healthcare	2.7%	1.1%
Real Estate	2.3%	0.4%

Return for Risk

XCNY vs. STXE — Risk / Return Rank

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

XCNY

XCNY Risk / Return Rank: 57
XCNY Sharpe Ratio Rank: 57
XCNY Sortino Ratio Rank: 56
XCNY Omega Ratio Rank: 59
XCNY Calmar Ratio Rank: 56
XCNY Martin Ratio Rank: 59

STXE

STXE Risk / Return Rank: 84
STXE Sharpe Ratio Rank: 86
STXE Sortino Ratio Rank: 76
STXE Omega Ratio Rank: 85
STXE Calmar Ratio Rank: 85
STXE Martin Ratio Rank: 88

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.

XCNY vs. STXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Emerging Markets ex-China ETF (XCNY) and Strive Emerging Markets Ex-China ETF (STXE). 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.

	XCNY	STXE	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.68	-0.88
Sortino ratio: Return per unit of downside risk	2.47	3.24	-0.78
Omega ratio: Gain probability vs. loss probability	1.33	1.50	-0.16
Calmar ratio: Return relative to maximum drawdown	2.60	4.49	-1.88
Martin ratio: Return relative to average drawdown	9.94	18.09	-8.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XCNY vs. STXE - Sharpe Ratio Comparison

The current XCNY Sharpe Ratio is 1.79, which is lower than the STXE Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of XCNY and STXE, 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

	XCNY	STXE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	2.68	-0.88
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	1.33	-0.34

Drawdowns

XCNY vs. STXE - Drawdown Comparison

The maximum XCNY drawdown since its inception was -19.70%, roughly equal to the maximum STXE drawdown of -18.92%. Use the drawdown chart below to compare losses from any high point for XCNY and STXE.

Drawdown Indicators

	XCNY	STXE	Difference
Max Drawdown Largest peak-to-trough decline	-19.70%	-18.92%	-0.78%
Max Drawdown (1Y) Largest decline over 1 year	-11.86%	-14.51%	+2.65%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.92%	—
Current Drawdown Current decline from peak	-5.49%	-9.86%	+4.37%
Average Drawdown Average peak-to-trough decline	-4.14%	-3.72%	-0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	3.59%	-0.49%

Volatility

XCNY vs. STXE - Volatility Comparison

The current volatility for SPDR S&P Emerging Markets ex-China ETF (XCNY) is 7.62%, while Strive Emerging Markets Ex-China ETF (STXE) has a volatility of 13.05%. This indicates that XCNY experiences smaller price fluctuations and is considered to be less risky than STXE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XCNY	STXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.62%	13.05%	-5.43%
Volatility (6M) Calculated over the trailing 6-month period	15.21%	22.50%	-7.29%
Volatility (1Y) Calculated over the trailing 1-year period	17.22%	24.34%	-7.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.04%	18.20%	-0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.04%	18.20%	-0.16%

XCNY vs. STXE - Expense Ratio Comparison

XCNY has a 0.15% expense ratio, which is lower than STXE's 0.32% expense ratio.

Dividends

XCNY vs. STXE - Dividend Comparison

XCNY's dividend yield for the trailing twelve months is around 2.35%, more than STXE's 2.00% yield.

Position	TTM	2025	2024	2023
STXE Strive Emerging Markets Ex-China ETF	2.00%	2.66%	3.22%	1.08%
XCNY SPDR S&P Emerging Markets ex-China ETF	2.35%	2.68%	1.07%	0.00%

Frequently Asked Questions

Can I hold both XCNY and STXE in my portfolio?

XCNY and STXE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XCNY or STXE?

STXE has higher volatility (13.05%) compared to XCNY (7.62%). In terms of maximum drawdown, XCNY dropped -19.70% vs STXE's -18.92%.

Which ETF is better, XCNY or STXE?

On 1-year performance, STXE leads with 64.77% vs 30.73% for XCNY. On fees, XCNY is cheaper at 0.15% per year. On volatility, XCNY has been the lower-risk option at 7.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XCNY or STXE?

Over the 1-year period, STXE has performed better with a 64.77% return vs 30.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XCNY or STXE?

XCNY is cheaper with a 0.15% expense ratio, compared with 0.32% for STXE.

Which ETF pays a higher dividend yield, XCNY or STXE?

XCNY has the higher dividend yield at 2.35%, compared with 2.00% for STXE.

What is the main difference between XCNY and STXE?

XCNY tracks S&P Emerging ex-China BMI, while STXE tracks Bloomberg US 1000 Dividend Growth Index - Benchmark TR Gross. They also come from different issuers: State Street and Strive. Their fees differ too: 0.15% for XCNY and 0.32% for STXE.

Which has better risk-adjusted returns?

STXE currently has the higher Sharpe Ratio (2.68 vs 1.79), 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.