XSOE vs. EDIV

Last updated Aug 4, 2026

XSOE (WisdomTree Emerging Markets ex-State-Owned Enterprises Fund) and EDIV (SPDR S&P Emerging Markets Dividend ETF) are both Emerging Markets Equities funds - XSOE tracks the WisdomTree Emerging Markets ex-State-Owned Enterprises Index while EDIV tracks the S&P Emerging Markets Dividend Opportunities Index. Both are passively managed. Over the past 10 years, XSOE returned 9.26%/yr vs 7.99%/yr for EDIV. Their 0.71 correlation means they have sometimes moved together and sometimes differently. XSOE charges 0.32%/yr vs 0.49%/yr for EDIV.

Performance

XSOE vs. EDIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE) and SPDR S&P Emerging Markets Dividend ETF (EDIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSOE achieves a 17.82% return, which is significantly higher than EDIV's 8.38% return. Over the past 10 years, XSOE has outperformed EDIV with an annualized return of 9.26%, while EDIV has yielded a comparatively lower 7.99% annualized return.

XSOE

• 1D: 0.75%
• 1M: -3.00%
• 6M: 9.56%
• YTD: 17.82%
• 1Y: 35.13%
• 3Y*: 18.40%
• 5Y*: 4.61%
• 10Y*: 9.26%
• ALL TIME*: 7.25%

EDIV

• 1D: 0.41%
• 1M: 0.90%
• 6M: 2.64%
• YTD: 8.38%
• 1Y: 14.16%
• 3Y*: 16.55%
• 5Y*: 12.01%
• 10Y*: 7.99%
• ALL TIME*: 3.16%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EDIV SPDR S&P Emerging Markets Dividend ETF	$4.69M	$5.05M	$5.54M
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund	$5.36M	$5.75M	$6.87M

XSOE vs. EDIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund	17.82%	30.05%	7.02%	10.28%	-25.83%	-5.92%	28.61%	24.81%	-18.60%	49.23%
EDIV SPDR S&P Emerging Markets Dividend ETF	8.38%	16.45%	12.75%	41.91%	-15.31%	11.21%	-9.95%	11.80%	-6.16%	28.20%

Correlation

The correlation between XSOE and EDIV is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.76
Correlation (10Y) Provides a long-term view across more market conditions.	0.75
Correlation (All Time) Calculated using the full available price history since Dec 10, 2014	0.71

The correlation between XSOE and EDIV has been stable across timeframes, ranging from 0.71 to 0.76 - a consistent structural relationship.

XSOE vs. EDIV - Sectors Allocation Comparison

Sectors	XSOE	EDIV
Technology	40.8%	6.4%
Consumer Cyclical	10.0%	7.8%
Financial Services	8.7%	17.3%
Industrials	6.9%	6.2%
Communication Services	5.0%	5.1%
Basic Materials	3.5%	0.8%
Consumer Defensive	2.5%	9.3%
Healthcare	2.3%	0.6%
Energy	1.4%	4.0%
Real Estate	0.6%	1.8%
Utilities	0.4%	1.8%

Return for Risk

XSOE vs. EDIV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XSOE

XSOE Risk / Return Rank: 60
XSOE Sharpe Ratio Rank: 59
XSOE Sortino Ratio Rank: 54
XSOE Omega Ratio Rank: 62
XSOE Calmar Ratio Rank: 65
XSOE Martin Ratio Rank: 60

EDIV

EDIV Risk / Return Rank: 41
EDIV Sharpe Ratio Rank: 43
EDIV Sortino Ratio Rank: 42
EDIV Omega Ratio Rank: 43
EDIV Calmar Ratio Rank: 38
EDIV Martin Ratio Rank: 38

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XSOE vs. EDIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE) and SPDR S&P Emerging Markets Dividend ETF (EDIV). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	XSOE	EDIV	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.10	+0.35
Sortino ratio: Return per unit of downside risk	1.98	1.60	+0.37
Omega ratio: Gain probability vs. loss probability	1.28	1.21	+0.07
Calmar ratio: Return relative to maximum drawdown	2.39	1.37	+1.01
Martin ratio: Return relative to average drawdown	7.55	4.01	+3.54

XSOE vs. EDIV - Sharpe Ratio Comparison

The current XSOE Sharpe Ratio is 1.45, which is higher than the EDIV Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of XSOE and EDIV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XSOE vs. EDIV - Drawdown Comparison

The maximum XSOE drawdown since its inception was -45.23%, smaller than the maximum EDIV drawdown of -53.36%. Use the drawdown chart below to compare losses from any high point for XSOE and EDIV.

Drawdown Indicators

	XSOE	EDIV	Difference
Max Drawdown Largest peak-to-trough decline	-45.23%	-53.36%	+8.13%
Max Drawdown (1Y) Largest decline over 1 year	-14.79%	-10.36%	-4.43%
Max Drawdown (3Y) Largest decline over 3 years	-19.96%	-13.84%	-6.12%
Max Drawdown (5Y) Largest decline over 5 years	-38.76%	-28.32%	-10.44%
Max Drawdown (10Y) Largest decline over 10 years	-45.23%	-40.76%	-4.47%
Current Drawdown Current decline from peak	-10.06%	-2.30%	-7.76%
Average Drawdown Average peak-to-trough decline	-17.13%	-19.18%	+2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.66%	3.54%	+1.12%

Volatility

XSOE vs. EDIV - Volatility Comparison

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE) has a higher volatility of 9.01% compared to SPDR S&P Emerging Markets Dividend ETF (EDIV) at 4.12%. This indicates that XSOE's price experiences larger fluctuations and is considered to be riskier than EDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSOE	EDIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.01%	4.12%	+4.89%
Volatility (6M) Calculated over the trailing 6-month period	22.22%	11.07%	+11.15%
Volatility (1Y) Calculated over the trailing 1-year period	24.36%	12.94%	+11.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.29%	13.96%	+6.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.97%	17.31%	+3.66%

XSOE vs. EDIV - Expense Ratio Comparison

XSOE has a 0.32% expense ratio, which is lower than EDIV's 0.49% expense ratio.

Dividends

XSOE vs. EDIV - Dividend Comparison

XSOE's dividend yield for the trailing twelve months is around 1.66%, less than EDIV's 4.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EDIV SPDR S&P Emerging Markets Dividend ETF	4.19%	4.69%	3.94%	4.26%	4.94%	3.84%	3.52%	3.83%	3.41%	2.99%	4.94%	5.33%
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund	1.66%	1.50%	1.44%	1.78%	2.53%	1.36%	1.02%	2.01%	1.56%	0.65%	1.43%	3.93%

Frequently Asked Questions

Can I hold both XSOE and EDIV in my portfolio?

XSOE and EDIV have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XSOE or EDIV?

XSOE has higher volatility (9.01%) compared to EDIV (4.12%). In terms of maximum drawdown, XSOE dropped -45.23% vs EDIV's -53.36%.

Which ETF is better, XSOE or EDIV?

On 10-year performance, XSOE leads with 9.26% vs 7.99% for EDIV. On fees, XSOE is cheaper at 0.32% per year. On volatility, EDIV has been the lower-risk option at 4.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSOE or EDIV?

Over the 10-year period, XSOE has performed better with a 9.26% return vs 7.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSOE or EDIV?

XSOE is cheaper with a 0.32% expense ratio, compared with 0.49% for EDIV.

Which ETF pays a higher dividend yield, XSOE or EDIV?

EDIV has the higher dividend yield at 4.19%, compared with 1.66% for XSOE.

What is the main difference between XSOE and EDIV?

XSOE tracks WisdomTree Emerging Markets ex-State-Owned Enterprises Index, while EDIV tracks S&P Emerging Markets Dividend Opportunities Index. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.32% for XSOE and 0.49% for EDIV.

Which has better risk-adjusted returns?

XSOE currently has the higher Sharpe Ratio (1.45 vs 1.10), 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.