XSOE vs. FSSGX

Last updated Jun 4, 2026

XSOE (WisdomTree Emerging Markets ex-State-Owned Enterprises Fund) and FSSGX (Fidelity SAI Sustainable Emerging Markets Equity Fund) are both funds - XSOE is a Emerging Markets Equities fund tracking the WisdomTree Emerging Markets ex-State-Owned Enterprises Index, while FSSGX is a Emerging Markets Diversified fund actively managed by Fidelity. XSOE is passively managed, while FSSGX is actively managed. Over the past 3 years, XSOE returned 23.36%/yr vs 28.00%/yr for FSSGX. Their correlation of 0.95 suggests significant overlap in exposure. XSOE charges 0.32%/yr vs 0.95%/yr for FSSGX.

Performance

XSOE vs. FSSGX - 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 Fidelity SAI Sustainable Emerging Markets Equity Fund (FSSGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSOE achieves a 27.99% return, which is significantly lower than FSSGX's 34.28% return.

XSOE

• 1D: -1.31%
• 1M: 9.84%
• YTD: 27.99%
• 6M: 30.83%
• 1Y: 54.87%
• 3Y*: 23.36%
• 5Y*: 5.06%
• 10Y*: 10.77%

FSSGX

• 1D: 1.42%
• 1M: 9.41%
• YTD: 34.28%
• 6M: 37.14%
• 1Y: 66.38%
• 3Y*: 28.00%
• 5Y*: —
• 10Y*: —

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

XSOE vs. FSSGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund	27.99%	30.05%	7.02%	10.28%	-9.58%
FSSGX Fidelity SAI Sustainable Emerging Markets Equity Fund	34.28%	38.40%	7.34%	11.67%	-7.56%

Correlation

The correlation between XSOE and FSSGX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Apr 26, 2022	0.95

The correlation between XSOE and FSSGX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

XSOE vs. FSSGX — Risk / Return Rank

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

XSOE

XSOE Risk / Return Rank: 82
XSOE Sharpe Ratio Rank: 84
XSOE Sortino Ratio Rank: 81
XSOE Omega Ratio Rank: 84
XSOE Calmar Ratio Rank: 80
XSOE Martin Ratio Rank: 80

FSSGX

FSSGX Risk / Return Rank: 91
FSSGX Sharpe Ratio Rank: 95
FSSGX Sortino Ratio Rank: 88
FSSGX Omega Ratio Rank: 88
FSSGX Calmar Ratio Rank: 92
FSSGX Martin Ratio Rank: 91

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.

XSOE vs. FSSGX - 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 Fidelity SAI Sustainable Emerging Markets Equity Fund (FSSGX). 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.

	XSOE	FSSGX	Difference
Sharpe ratio: Return per unit of total volatility	2.79	3.43	-0.64
Sortino ratio: Return per unit of downside risk	3.65	4.19	-0.54
Omega ratio: Gain probability vs. loss probability	1.51	1.62	-0.11
Calmar ratio: Return relative to maximum drawdown	4.14	4.99	-0.85
Martin ratio: Return relative to average drawdown	15.84	19.05	-3.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSOE vs. FSSGX - Sharpe Ratio Comparison

The current XSOE Sharpe Ratio is 2.79, which is comparable to the FSSGX Sharpe Ratio of 3.43. The chart below compares the historical Sharpe Ratios of XSOE and FSSGX, 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

	XSOE	FSSGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.79	3.43	-0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	1.01	-0.60

Drawdowns

XSOE vs. FSSGX - Drawdown Comparison

The maximum XSOE drawdown since its inception was -45.23%, which is greater than FSSGX's maximum drawdown of -24.11%. Use the drawdown chart below to compare losses from any high point for XSOE and FSSGX.

Drawdown Indicators

	XSOE	FSSGX	Difference
Max Drawdown Largest peak-to-trough decline	-45.23%	-24.11%	-21.12%
Max Drawdown (1Y) Largest decline over 1 year	-13.31%	-13.47%	+0.16%
Max Drawdown (3Y) Largest decline over 3 years	-19.96%	-15.80%	-4.16%
Max Drawdown (5Y) Largest decline over 5 years	-42.05%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.23%	—	—
Current Drawdown Current decline from peak	-1.31%	0.00%	-1.31%
Average Drawdown Average peak-to-trough decline	-17.28%	-5.45%	-11.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.47%	3.51%	-0.04%

Volatility

XSOE vs. FSSGX - Volatility Comparison

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE) has a higher volatility of 8.57% compared to Fidelity SAI Sustainable Emerging Markets Equity Fund (FSSGX) at 8.01%. This indicates that XSOE's price experiences larger fluctuations and is considered to be riskier than FSSGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSOE	FSSGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.57%	8.01%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	17.24%	16.73%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	19.77%	19.60%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.43%	19.24%	+0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.59%	19.24%	+1.35%

XSOE vs. FSSGX - Expense Ratio Comparison

XSOE has a 0.32% expense ratio, which is lower than FSSGX's 0.95% expense ratio.

Dividends

XSOE vs. FSSGX - Dividend Comparison

XSOE's dividend yield for the trailing twelve months is around 1.28%, less than FSSGX's 2.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSSGX Fidelity SAI Sustainable Emerging Markets Equity Fund	2.13%	2.87%	3.83%	1.01%	0.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund	1.28%	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 FSSGX in my portfolio?

With a correlation of 0.93, XSOE and FSSGX 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, XSOE or FSSGX?

XSOE has higher volatility (8.57%) compared to FSSGX (8.01%). In terms of maximum drawdown, XSOE dropped -45.23% vs FSSGX's -24.11%.

Which has better risk-adjusted returns?

FSSGX currently has the higher Sharpe Ratio (3.43 vs 2.79), 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.