XSOE vs. IVV

Last updated Jun 24, 2026

XSOE (WisdomTree Emerging Markets ex-State-Owned Enterprises Fund) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - XSOE is a Emerging Markets Equities fund tracking the WisdomTree Emerging Markets ex-State-Owned Enterprises Index, while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, XSOE returned 10.33%/yr vs 15.58%/yr for IVV. A 0.63 correlation means they provide meaningful diversification when combined. XSOE charges 0.32%/yr vs 0.03%/yr for IVV.

Performance

XSOE vs. IVV - 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 iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSOE achieves a 23.47% return, which is significantly higher than IVV's 8.20% return. Over the past 10 years, XSOE has underperformed IVV with an annualized return of 10.33%, while IVV has yielded a comparatively higher 15.58% annualized return.

XSOE

• 1D: -5.74%
• 1M: 2.49%
• YTD: 23.47%
• 6M: 24.31%
• 1Y: 46.15%
• 3Y*: 22.11%
• 5Y*: 4.49%
• 10Y*: 10.33%

IVV

• 1D: -1.42%
• 1M: -1.34%
• YTD: 8.20%
• 6M: 7.25%
• 1Y: 23.72%
• 3Y*: 20.79%
• 5Y*: 13.13%
• 10Y*: 15.58%

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

XSOE vs. IVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund	23.47%	30.05%	7.02%	10.28%	-25.83%	-5.92%	28.61%	24.81%	-18.60%	49.23%
IVV iShares Core S&P 500 ETF	8.20%	17.85%	24.93%	26.31%	-18.16%	28.76%	18.40%	31.07%	-4.49%	21.75%

Correlation

The correlation between XSOE and IVV is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Dec 10, 2014	0.63

The correlation between XSOE and IVV shifts across timeframes, from 0.63 (all time) to 0.74 (1 year), reflecting how their relationship changes across market environments.

XSOE vs. IVV - Sectors Allocation Comparison

Sectors	XSOE	IVV
Technology	43.9%	39.0%
Financial Services	14.1%	11.1%
Consumer Cyclical	11.3%	9.9%
Industrials	8.6%	7.8%
Communication Services	6.1%	10.6%
Basic Materials	4.8%	1.7%
Healthcare	3.9%	8.3%
Consumer Defensive	3.4%	4.5%
Energy	1.6%	3.1%
Utilities	1.3%	2.1%
Real Estate	0.9%	1.8%

Return for Risk

XSOE vs. IVV — Risk / Return Rank

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

XSOE

XSOE Risk / Return Rank: 69
XSOE Sharpe Ratio Rank: 68
XSOE Sortino Ratio Rank: 60
XSOE Omega Ratio Rank: 72
XSOE Calmar Ratio Rank: 73
XSOE Martin Ratio Rank: 72

IVV

IVV Risk / Return Rank: 59
IVV Sharpe Ratio Rank: 59
IVV Sortino Ratio Rank: 56
IVV Omega Ratio Rank: 58
IVV Calmar Ratio Rank: 56
IVV Martin Ratio Rank: 67

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. IVV - 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 iShares Core S&P 500 ETF (IVV). 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	IVV	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.91	+0.14
Sortino ratio: Return per unit of downside risk	2.65	2.60	+0.05
Omega ratio: Gain probability vs. loss probability	1.40	1.35	+0.05
Calmar ratio: Return relative to maximum drawdown	3.48	2.68	+0.80
Martin ratio: Return relative to average drawdown	12.67	11.98	+0.70

XSOE vs. IVV - Sharpe Ratio Comparison

The current XSOE Sharpe Ratio is 2.06, which is comparable to the IVV Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of XSOE and IVV, 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. IVV - Drawdown Comparison

The maximum XSOE drawdown since its inception was -45.23%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for XSOE and IVV.

Drawdown Indicators

	XSOE	IVV	Difference
Max Drawdown Largest peak-to-trough decline	-45.23%	-55.25%	+10.02%
Max Drawdown (1Y) Largest decline over 1 year	-13.31%	-8.89%	-4.42%
Max Drawdown (3Y) Largest decline over 3 years	-19.96%	-18.75%	-1.21%
Max Drawdown (5Y) Largest decline over 5 years	-42.05%	-24.53%	-17.52%
Max Drawdown (10Y) Largest decline over 10 years	-45.23%	-33.90%	-11.33%
Current Drawdown Current decline from peak	-5.74%	-3.14%	-2.60%
Average Drawdown Average peak-to-trough decline	-17.22%	-10.76%	-6.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.65%	1.99%	+1.66%

Volatility

XSOE vs. IVV - Volatility Comparison

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE) has a higher volatility of 12.60% compared to iShares Core S&P 500 ETF (IVV) at 4.88%. This indicates that XSOE's price experiences larger fluctuations and is considered to be riskier than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSOE	IVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.60%	4.88%	+7.72%
Volatility (6M) Calculated over the trailing 6-month period	20.57%	9.85%	+10.72%
Volatility (1Y) Calculated over the trailing 1-year period	22.57%	12.48%	+10.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.04%	16.98%	+3.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.89%	18.07%	+2.82%

XSOE vs. IVV - Expense Ratio Comparison

XSOE has a 0.32% expense ratio, which is higher than IVV's 0.03% expense ratio.

Dividends

XSOE vs. IVV - Dividend Comparison

XSOE's dividend yield for the trailing twelve months is around 1.32%, more than IVV's 1.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVV iShares Core S&P 500 ETF	1.11%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund	1.32%	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 IVV in my portfolio?

XSOE and IVV have a correlation of 0.74, 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 IVV?

XSOE has higher volatility (12.60%) compared to IVV (4.88%). In terms of maximum drawdown, XSOE dropped -45.23% vs IVV's -55.25%.

Which ETF is better, XSOE or IVV?

On 10-year performance, IVV leads with 15.58% vs 10.33% for XSOE. On fees, IVV is cheaper at 0.03% per year. On volatility, IVV has been the lower-risk option at 4.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSOE or IVV?

Over the 10-year period, IVV has performed better with a 15.58% return vs 10.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSOE or IVV?

IVV is cheaper with a 0.03% expense ratio, compared with 0.32% for XSOE.

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

XSOE has the higher dividend yield at 1.32%, compared with 1.11% for IVV.

What is the main difference between XSOE and IVV?

XSOE is categorized as Emerging Markets Equities, while IVV is S&P 500. XSOE tracks WisdomTree Emerging Markets ex-State-Owned Enterprises Index, while IVV tracks S&P 500 Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.32% for XSOE and 0.03% for IVV.

Which has better risk-adjusted returns?

XSOE currently has the higher Sharpe Ratio (2.06 vs 1.91), 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.