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%.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
537.6 M
ASSETS UNDER MGMT
32 bp
EXPENSES
Fund Basics
| Fund sponsor | WisdomTree Asset Management In |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Sep 19, 2012 |
| Assets (mns) | $538 |
| Expense ratio | 32 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Principles-based |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ESR CAYMAN LTD. | 18.3 % |
| TENCENT HOLDINGS LTD | 12.7 % |
| ALIBABA GROUP HOLDING LTD. | 10.2 % |
| CONTEMPORARY AMPEREX TECHNOLOGY CO., LTD | 4.3 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 3.3 % |
| PING AN INSURANCE (GROUP) COMPANY OF CHI | 2.9 % |
| MEITUAN DIANPING | 2.3 % |
| NETEASE, INC | 2.2 % |
| ZHONGJI INNOLIGHT CO., LTD. CLASS A | 2.1 % |
| PING AN INSURANCE GROUP CO-H | 1.8 % |
Constituent Breakdown
| Number of holdings | 202 |
| Herfindahl-Hirschman Index | 704 |
| Wgt avg mkt cap (mns) | $209,583 |
| Large cap (>$10bn) | 73.8% |
| Mid cap ($2-10bn) | 19.2% |
| Small cap (<$2bn) | 1.4% |
| Developed mkts. | 4.1% |
| Emerging mkts. | 90.9% |
Country Exposure
 |
CHINA | 102.2 % |
 |
HONG KONG | 23.3 % |
Historical Performance
Standardized Performance (as of 10/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 41.7% | 32.3% | 21.3% | 16.5% | -6.6% | 5.6% | -- | 4.0% |
| Dividend Yield | 0.5% | 0.8% | 1.6% | 1.5% | 1.1% | 1.3% | -- | 1.4% |
| Total Returns | 42.1% | 33.1% | 22.8% | 18.0% | -5.5% | 6.8% | -- | 5.5% | Ann. Volatility | 28.0% | 29.9% | 31.0% | 30.9% | 33.1% | 29.8% | -- | 28.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.84 | 11% |
| MSCI EAFE | 1.12 | 26% |
| MSCI Emg Mkts | 1.40 | 46% |
Liquidity Measures
| Avg. volume (000) | 37 |
| ADV traded (mns) | $2 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.18% |
Technical Indicators
| Recent close | $42.33 |
| 30d moving avg. | $43.24 |
| Annualized volatility | 32.8% |
| Relative strength (RSI) | 52 |
| Short interest | 0.2% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| FLCH | Franklin FTSE China ETF | 52.9% | -13 bp | +14.9% |
| KALL | KraneShares MSCI All China Index ETF | 48.6% | +17 bp | +12.7% |
| MCHI | iShares MSCI China ETF | 47.8% | +27 bp | +16.2% |
| MCH | Matthews China Active ETF | 45.1% | +47 bp | +13.3% |
| JCHI | JPMorgan Active China ETF | 44.7% | +33 bp | +13.9% |
| GXC | SPDR S&P China ETF | 44.0% | +27 bp | +15.2% |
| TCHI | iShares MSCI China Multisector Tech ETF | 42.6% | +27 bp | +15.6% |
| KWEB | KraneShares CSI China Internet ETF | 38.8% | +37 bp | +23.8% |
| ASHR | Xtrackers Harvest CSI 300 China A-Shares ETF | 37.0% | +33 bp | +6.8% |
| EMQQ | EMQQ The Emerging Markets Internet & Ecommerce ETF | 34.4% | +54 bp | +13.1% |
Risk and Returns: CXSE vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 | --% |
Based on closing prices from 11/2/2025
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
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 Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
CXSE
12.9%
Cat. Avg
7.6%
ALTAR Score™ Calculation
Category Overview
There are 126 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.6% and a standard deviation of
2.6%. CXSE's ALTAR Score™ is approximately
2.1 standard deviations
above
the category average. This places CXSE in the 98th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
CXSESELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based Emerging Market Equity ETFs |
| # of ETFs | 98 |
| Avg. Expense Ratio | 64.7 bp |
| Std. Deviation | 29.4 bp |
| CXSE (32 bp) Percentile rank | 13 |
Peer Group Expense Ratio Distribution
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. | 64.7 | 41.8 | 106.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .