CXSE

WisdomTree China ex-State-Owned Enterprises Fund

WisdomTree China ex-State-Owned Enterprises Fund seeks to track the investment results of Chinese companies that are not state-owned enterprises, which is defined as government ownership of greater than 20%.


Rules-Based, Semi-Diverse

MANAGEMENT MATRIX

FLCH

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorWisdomTree Asset Management In
CategoryEmerging Market Equities
Asset classEquity
Websitelink...
Inception dateSep 19, 2012
Assets (mns)$352
Expense ratio32 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionPrinciples-based
WeightingMarket Cap
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
ALIBABA GROUP HOLDING LTD. 10.3 %
PINDUODUO, INC. SPONSORED ADR CLASS A 5.7 %
NETEASE, INC 5.0 %
PING AN INSURANCE GROUP CO-H 3.9 %
MEITUAN DIANPING 3.7 %
CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD 2.4 %
PING AN INSURANCE (GROUP) COMPANY OF CHI 2.3 %
JD.COM, INC. CLASS A 2.0 %
LI AUTO, INC. CLASS A 1.9 %
KUAISHOU TECHNOLOGY CLASS B 1.9 %
Constituent Breakdown
Number of holdings191
Herfindahl-Hirschman Index 245
Wgt avg mkt cap (mns)$54,801
Large cap (>$10bn)72.9%
Mid cap ($2-10bn)25.5%
Small cap (<$2bn)1.5%
Developed mkts.18.8%
Emerging mkts.81.2%
Country Exposure
CHINA 90.6 %
HONG KONG 4.0 %
Historical Performance


Standardized Annual Returns (as of 03/31/2024)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
-7.0% -23.6% -18.1% -25.3% -6.7% -- 1.8%
Market Correlations
versus...BetaR-squared
S&P 5000.425%
MSCI EAFE0.8218%
MSCI Emg Mkts1.4661%
Liquidity Measures
Avg. volume (000)28
Turnover0.2%
Avg. Bid/Ask (% of price)0.18%
ADV of underlying (mns)$14,327
Technical Indicators
Recent close$25.76
30d moving avg.$28.69
Annualized volatility32.9%
Relative strength (RSI)43
Short interest (ETF)0.5%
Short interest (underlying)0.0%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: CXSE vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
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Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2023 2024E Fwd Est 2025E
Price-to-sales --x --x --x --x
Price-to-earnings --x --x --x --x
Price-to-cash flow --x --x --x --x
Price-to-growth --x --x --x --x
Price-to-book value --x --x --x --x
Yield --% --% --x --%
1.1 10.7 1.3 2.0% --
Based on closing prices from 4/18/2024
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SHOWING:
Price-to-Earnings
CXSE



Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.

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ETF Research Center Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

CXSE

5.9%

Cat. Avg

7.9%

Fund Category: Emerging Market Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™5.9%
Recommendation

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

Category Overview
There are 163 funds in the Emerging Market Equities category, with an average ALTAR Score™ of 7.9% and a standard deviation of 3.9%. CXSE's ALTAR Score™ is approximately 0.5 standard deviations below the category average. This places CXSE in the 31st percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
CXSE
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
CXSE 32.0 18.4 50.4
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .