XSOE vs. XC
XSOE (WisdomTree Emerging Markets ex-State-Owned Enterprises Fund) and XC (WisdomTree Emerging Markets ex-China Fund) are both exchange-traded funds - XSOE is a Emerging Markets Equities fund tracking the WisdomTree Emerging Markets ex-State-Owned Enterprises Index, while XC is a Emerging Markets Diversified fund tracking the WisdomTree Emerging Markets ex-China Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, XSOE returned 22.11%/yr vs 10.32%/yr for XC. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.32% expense ratio.
Performance
XSOE vs. XC - Performance Comparison
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Returns By Period
In the year-to-date period, XSOE achieves a 23.47% return, which is significantly higher than XC's -1.97% 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%
XC
- 1D
- -1.25%
- 1M
- 0.63%
- YTD
- -1.97%
- 6M
- -2.47%
- 1Y
- 7.06%
- 3Y*
- 10.32%
- 5Y*
- —
- 10Y*
- —
XSOE vs. XC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund | 23.47% | 30.05% | 7.02% | 10.28% | 1.65% |
XC WisdomTree Emerging Markets ex-China Fund | -1.97% | 18.19% | 5.49% | 21.31% | 1.58% |
Correlation
The correlation between XSOE and XC is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2022 | 0.84 |
The correlation between XSOE and XC has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.
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Return for Risk
XSOE vs. XC — Risk / Return Rank
XSOE
XC
XSOE vs. XC - 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 Emerging Markets ex-China Fund (XC). 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 | XC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.58 | ||
| Sortino ratioReturn per unit of downside risk | +1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.09 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 0.57 | +2.92 |
| Martin ratioReturn relative to average drawdown | 12.67 | 1.51 | +11.17 |
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Drawdowns
XSOE vs. XC - Drawdown Comparison
The maximum XSOE drawdown since its inception was -45.23%, which is greater than XC's maximum drawdown of -20.97%. Use the drawdown chart below to compare losses from any high point for XSOE and XC.
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Drawdown Indicators
| XSOE | XC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.23% | -20.97% | -24.26% |
Max Drawdown (1Y)Largest decline over 1 year | -13.31% | -12.47% | -0.84% |
Max Drawdown (3Y)Largest decline over 3 years | -19.96% | -20.97% | +1.01% |
Max Drawdown (5Y)Largest decline over 5 years | -42.05% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.23% | — | — |
Current DrawdownCurrent decline from peak | -5.74% | -7.94% | +2.20% |
Average DrawdownAverage peak-to-trough decline | -17.22% | -4.17% | -13.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.65% | 4.69% | -1.04% |
Volatility
XSOE vs. XC - Volatility Comparison
WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE) has a higher volatility of 12.60% compared to WisdomTree Emerging Markets ex-China Fund (XC) at 5.04%. This indicates that XSOE's price experiences larger fluctuations and is considered to be riskier than XC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSOE | XC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.60% | 5.04% | +7.56% |
Volatility (6M)Calculated over the trailing 6-month period | 20.57% | 13.20% | +7.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.57% | 15.09% | +7.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.04% | 15.92% | +4.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.89% | 15.92% | +4.97% |
XSOE vs. XC - Expense Ratio Comparison
Both XSOE and XC have an expense ratio of 0.32%.
Dividends
XSOE vs. XC - Dividend Comparison
XSOE's dividend yield for the trailing twelve months is around 1.32%, less than XC's 12.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XC WisdomTree Emerging Markets ex-China Fund | 12.22% | 11.74% | 1.49% | 1.42% | 0.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
XSOE and XC have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XSOE has higher volatility (12.60%) compared to XC (5.04%). In terms of maximum drawdown, XSOE dropped -45.23% vs XC's -20.97%.
On 3-year performance, XSOE leads with 22.11% vs 10.32% for XC. Both ETFs have the same 0.32% expense ratio. On volatility, XC has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XSOE has performed better with a 22.11% return vs 10.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XSOE and XC have the same expense ratio: 0.32% per year.
XC has the higher dividend yield at 12.22%, compared with 1.32% for XSOE.
XSOE is categorized as Emerging Markets Equities, while XC is Emerging Markets Diversified. XSOE tracks WisdomTree Emerging Markets ex-State-Owned Enterprises Index, while XC tracks WisdomTree Emerging Markets ex-China Index - Benchmark TR Net.
XSOE currently has the higher Sharpe Ratio (2.06 vs 0.47), 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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