XSOE vs. USFR
XSOE (WisdomTree Emerging Markets ex-State-Owned Enterprises Fund) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - XSOE is a Emerging Markets Equities fund tracking the WisdomTree Emerging Markets ex-State-Owned Enterprises Index, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 10 years, XSOE returned 10.77%/yr vs 2.47%/yr for USFR. At a 0.01 correlation, their price movements are largely independent. XSOE charges 0.32%/yr vs 0.15%/yr for USFR.
Performance
XSOE vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, XSOE achieves a 27.99% return, which is significantly higher than USFR's 1.60% return. Over the past 10 years, XSOE has outperformed USFR with an annualized return of 10.77%, while USFR has yielded a comparatively lower 2.47% annualized 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%
USFR
- 1D
- 0.02%
- 1M
- 0.29%
- YTD
- 1.60%
- 6M
- 1.98%
- 1Y
- 4.03%
- 3Y*
- 4.76%
- 5Y*
- 3.66%
- 10Y*
- 2.47%
XSOE vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund | 27.99% | 30.05% | 7.02% | 10.28% | -25.83% | -5.92% | 28.61% | 24.81% | -18.60% | 49.23% |
USFR WisdomTree Floating Rate Treasury Fund | 1.60% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 1.03% |
Correlation
The correlation between XSOE and USFR is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2014 | 0.01 |
The correlation between XSOE and USFR shifts across timeframes, from -0.12 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XSOE vs. USFR — Risk / Return Rank
XSOE
USFR
XSOE vs. USFR - 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 WisdomTree Floating Rate Treasury Fund (USFR). 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 | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -12.32 | ||
| Sortino ratioReturn per unit of downside risk | -46.99 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 13.43 | -11.92 |
| Calmar ratioReturn relative to maximum drawdown | 4.14 | 203.42 | -199.28 |
| Martin ratioReturn relative to average drawdown | 15.84 | 787.84 | -772.00 |
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
| XSOE | USFR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.79 | 15.11 | -12.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 9.26 | -9.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | 3.07 | -2.55 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 1.60 | -1.20 |
Drawdowns
XSOE vs. USFR - Drawdown Comparison
The maximum XSOE drawdown since its inception was -45.23%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for XSOE and USFR.
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Drawdown Indicators
| XSOE | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.23% | -1.36% | -43.87% |
Max Drawdown (1Y)Largest decline over 1 year | -13.31% | -0.02% | -13.29% |
Max Drawdown (3Y)Largest decline over 3 years | -19.96% | -0.06% | -19.90% |
Max Drawdown (5Y)Largest decline over 5 years | -42.05% | -0.18% | -41.87% |
Max Drawdown (10Y)Largest decline over 10 years | -45.23% | -0.80% | -44.43% |
Current DrawdownCurrent decline from peak | -1.31% | 0.00% | -1.31% |
Average DrawdownAverage peak-to-trough decline | -17.28% | -0.16% | -17.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.47% | 0.01% | +3.46% |
Volatility
XSOE vs. USFR - Volatility Comparison
WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE) has a higher volatility of 8.57% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.06%. This indicates that XSOE's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSOE | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.57% | 0.06% | +8.51% |
Volatility (6M)Calculated over the trailing 6-month period | 17.24% | 0.18% | +17.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.77% | 0.27% | +19.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.43% | 0.40% | +19.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.59% | 0.81% | +19.78% |
XSOE vs. USFR - Expense Ratio Comparison
XSOE has a 0.32% expense ratio, which is higher than USFR's 0.15% expense ratio.
Dividends
XSOE vs. USFR - Dividend Comparison
XSOE's dividend yield for the trailing twelve months is around 1.28%, less than USFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USFR WisdomTree Floating Rate Treasury Fund | 3.91% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% | 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
XSOE and USFR have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XSOE has higher volatility (8.57%) compared to USFR (0.06%). In terms of maximum drawdown, XSOE dropped -45.23% vs USFR's -1.36%.
On 10-year performance, XSOE leads with 10.77% vs 2.47% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XSOE has performed better with a 10.77% return vs 2.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR is cheaper with a 0.15% expense ratio, compared with 0.32% for XSOE.
USFR has the higher dividend yield at 3.91%, compared with 1.28% for XSOE.
XSOE is categorized as Emerging Markets Equities, while USFR is Government Bonds. XSOE tracks WisdomTree Emerging Markets ex-State-Owned Enterprises Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. Their fees differ too: 0.32% for XSOE and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (15.11 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.
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