CNYA vs CXSE: Grades, Fees and Holdings Compared

iShares MSCI China A ETF

CNYAACboe

WisdomTree China ex-State-Owned Enterprises Fund

CXSEANasdaq

Overlap

23.2%by weight

Expense ratio

CXSE −0.28pt a year

CNYA0.60%CXSE0.32%

Avg volume · 30D

CNYA 1.3×the volume

CNYA47.2KCXSE37.2K

10Y return · a year

CNYA +0.5pt

CNYA+3.6%CXSE+3.1%

CNYA vs CXSE Performance

Oct 29, 2021 – Oct 30, 2026

−20.2%CNYA−39.0%CXSE

Expense ratio: CNYA 0.60%; CXSE 0.32%, better
Fund size: CNYA $158M; CXSE $372M
1Y total return: CNYA −9.6%, better; CXSE −24.9%
Yield (12M): CNYA 2.13%; CXSE 2.22%, better
Holdings: CNYA 419; CXSE 241
Avg volume (30D): CNYA 47.2K sh, better; CXSE 37.2K sh
NAV per share: CNYA $30.59; CXSE $31.37
52W range

ETF.net Grade

Pillar letters and Scores for CNYA, CXSE, with each pillar’s weight
Pillar	CNYA	CXSE
Cost30% weight	B67	A97Higher
Mission25% weight	A87	A100Higher
Risk15% weight	B67Higher	C47
Tradability15% weight	C43	B63Higher
Holdings10% weight	A84Higher	A74
Durability5% weight	A77	A79Higher

Rank among China funds

How we build Categories ›

Same Category. CNYA and CXSE are both graded against the same 28 China funds, so their Grades compare head to head.

China⁠

Category · 28 funds

See all 28 ›

CXSE ranks 1st and CNYA 7th of 28 funds in the China Category.

Rank 1ACXSEWisdomTree China ex-State-Owned Enterprises FundScore 81
Rank 2AFLCHFranklin FTSE China ETFScore 80
Rank 6AASHRXtrackers Harvest CSI 300 China A-Shares ETFScore 73
Rank 7ACNYAiShares MSCI China A ETFScore 70
Rank 8BECNSiShares MSCI China Small-Cap ETFScore 63

Our read on each fund

ETF.net Research

CNYAAiShares MSCI China A ETF

CXSEAWisdomTree China ex-State-Owned Enterprises Fund

In short

CNYA Most China ETFs buy the offshore listings. CNYA goes onshore, owning the Shanghai and Shenzhen A-shares that mainland investors trade, through an MSCI index built around the Stock Connect channel.

CXSE CXSE tracks an index that screens state-owned enterprises out of China, leaving the privately run companies. A tilt toward entrepreneurs rather than Beijing's balance sheet, at a fee well under the typical China fund.

Stated mandate

CNYA The Fund seeks to track an index of domestic Chinese equities traded on the Shanghai or Shenzhen Stock Exchange.

CXSE The Fund seeks to track, before fees and expenses, the price and yield performance of the WisdomTree China ex-State-Owned Enterprises Index.

Why people hold it

CNYA Onshore, not offshore: the index is built from domestic Chinese equities listed in Shanghai and Shenzhen, a different company mix from the Hong Kong-listed China funds.ishares.com
At 0.60%, the fee undercuts the typical single-country China fund.
About 400 mainland names, and the fund has stayed unusually close to its index versus its China peer group.
Running since 2016 on an MSCI index designed to follow the phased entry of A-shares into the emerging markets benchmark.msci.com

CXSE The whole design is one screen: state-controlled companies out, privately run ones in, about 200 of them. Not a broad China index with a tweak.
0.32% a year, well under half the 0.70% median for single-country China funds.
Trading since 2012, and one of the tighter, more faithful builds in a crowded China cohort.

Worth knowing

CNYA Access runs through Stock Connect: the index covers only A-shares reachable via that channel, not the entire mainland market.msci.com msci.com 2
Cheaper China options exist (JCHI at 0.15%, FLCH at 0.19%), but they buy offshore-listed shares rather than mainland ones.msci.com
A smaller, moderately traded fund, so bid-ask spreads carry more weight here than with the largest China ETFs.

CXSE Thinly traded next to China heavyweights like MCHI and GXC, so limit orders matter more here.
One country, about 200 stocks, and none of the state-backed heavyweights as ballast. Swings run bigger than a diversified global fund's.
Cheap for the group, not the cheapest: FLCH (0.19%) and JCHI (0.15%) undercut it with different mandates.

Full CNYA profile⁠

Full CXSE profile⁠

CNYA vs CXSE Holdings

How CNYA and CXSE differ

Overlap by weight

23.2%

Shared holdings make up 32.2% of CXSE and 29.8% of CNYA.

Level by level

Holdings84 in both23.2%
Sector11 Sectors60.9%
Countryby domicile93.8%
Asset classEquity100%

Sector

Sector weights in CNYA and CXSE, widest gap first
Sector	More in CNYAMore in CXSE	CNYA	CXSE
Consumer Discretionary	CXSE +21.7 points	4.4%	26.1%
Financials	CNYA +14.7 points	21.7%	7.0%
Communication	CXSE +9.5 points	1.2%	10.7%
Materials	CNYA +8.6 points	11.8%	3.2%
Health Care	CXSE +7.5 points	4.7%	12.2%
Technology	CNYA +3.8 points	27.2%	23.4%
Utilities	CNYA +3.6 points	3.9%	0.3%
Energy	CNYA +3.4 points	3.7%	0.3%
Consumer Staples	CNYA +2.9 points	7.5%	4.6%
Industrials	CNYA +2.1 points	13.5%	11.4%
Real Estate	CXSE +0.4 points	0.5%	0.9%

Country, concentration and asset class

Country by domicile

Country weights in CNYA and CXSE, widest gap first
Country	More in CNYAMore in CXSE	CNYA	CXSE
China	CNYA +6.1 points	98.9%	92.8%
Hong Kong	CXSE +3.3 points	1.1%	4.4%
United States	CXSE +2.4 points	0.0%	2.4%
Other countries (2)	CXSE +0.4 points	0.0%	0.4%

Outside the US: CNYA 1% developed, 99% emerging. CXSE 5% developed, 95% emerging.

Concentration

Weight in the 10 largest Holdings

CNYA18.6%
CXSE36.0%

Securities held

CNYA416
CXSE236

Asset class

CNYA: Equity
CXSE: Equity

Holdings

Only in CNYA332
In both84
Only in CXSE152

Only in CNYA

332 securities, 69.8% of CNYA by weight

Kweichow Moutai A4.15%
China Merchants Bank A2.12%
China Yangtze Power Ltd A1.72%
Agricultural Bank of China A1.50%
Zijin Mining Group Ltd A1.33%
Industrial and Commercial Bank of1.29%
Bank of Communications Ltd A1.09%
Industrial Bank A0.98%
Hygon Information Technology Ltd A0.93%
Petrochina A0.81%
Naura Technology Group Ltd A0.81%
Shanghai Pudong Development Bank A0.80%
Citic Securities A0.69%
Wuliangye Yibin Ltd A0.69%
China Shenhua Energy Ltd A0.66%
Bank of China Ltd A0.66%
Shaanxi Coal Industry Ltd A0.63%
China Construction Bank Corp A0.60%
Beijing-Shanghai High Speed Railwa0.60%
China Cssc Holdings Ltd A0.59%
Bank of Jiangsu Corporation A0.56%
Wanhua Chemical Group Ltd A0.55%
China Molybdenum A0.55%
Bank of Ningbo A0.53%
Guotai Haitong Securities Ltd A0.53%
Cosco Shipping Holdings Ltd A0.52%
Shengyi Technology Ltd A0.51%
China Petroleum & Chemical A0.50%
Advanced Micro-Fabrication Equipme0.49%
China Pacific Insurance (Group) A0.48%
China National Nuclear Power Ltd A0.47%
China State Construction Engineeri0.46%
Nari Technology A0.43%
China International Capital A0.42%
Postal Savings Bank of China Ltd A0.41%
Shennan Circuits Ltd A0.40%
Crrc Corp A0.37%
Shanxi Xinghuacun Fen Wine Factory0.37%
Boe Technology Group Ltd A0.37%
Bank of Nanjing Ltd A0.36%
Hithink Royalflush Information Net0.36%
China Everbright Bank Ltd A0.34%
China United Network Communication0.33%
China Merchants Energy Shipping Lt0.32%
Bank of Shanghai Ltd A0.32%
Baoshan Iron & Steel Ltd A0.31%
China Northern Rare Earth (Group)0.30%
Weichai Power Ltd A0.30%
Luzhou Lao Jiao Ltd A0.29%
Huatai Securities A0.29%

Only in CXSE

152 securities, 67.7% of CXSE by weight

Tencent Holdings Ltd9.97%
Alibaba Group Holding Ltd8.18%
PDD Holdings Inc.2.06%
Xiaomi Corp-Class B1.97%
Meituan - Class B1.71%
Ping An Insurance Group Co of China1.60%
Netease Inc1.42%
BYD Co Ltd1.22%
Jd.Com Inc - Cl A1.16%
Beigene Ltd1.03%
Trip.Com Group Ltd0.92%
Wuxi Biologics Cayman Inc0.90%
Baidu Inc-Class A0.90%
Innovent Biologics Inc0.73%
Yum China Holdings Inc0.64%
Pop Mart International Group0.61%
Geely Automobile Holdings Ltd0.55%
ANTA Sports Products Ltd0.53%
Wuxi Apptec Co Ltd-H0.53%
Kuaishou Technology0.49%
Ke Holdings Inc-Cl A0.49%
Nongfu Spring Co Ltd-H0.47%
Contemporary Amperex Techn-H0.45%
China Hongqiao Group Ltd0.44%
Akeso Inc0.43%
H World Group Ltd0.43%
ZTO Express Cayman Inc0.41%
SITC International Holdings Co0.40%
Genscript Biotech Corp0.38%
Full Truck Alliance -Spn Adr0.37%
Midea Group Co Ltd-H0.37%
WH Group Ltd0.37%
J&T Global Express Ltd0.37%
XPeng Inc - Class A Shares0.36%
Li Auto Inc-Class A0.36%
Sunny Optical Technology Group Co Ltd0.36%
Haier Smart Home Co Ltd-H0.35%
Z Ai Co Ltd0.35%
Nio Inc-Class A0.34%
Hansoh Pharmaceutical Group0.34%
Sino Biopharmaceutical Ltd0.33%
New Oriental Education & Tec0.31%
JD Health International Inc0.30%
Kingboard Laminates Holdings Ltd0.29%
ENN Energy Holdings Ltd0.29%
Tencent Music Ent - Class A0.29%
Horizon Robotics Inc0.29%
Li Ning Co Ltd0.28%
Xtalpi Holdings Ltd0.28%
Shenzhou International Group H0.28%

Weight gaps

All 84 Holdings in both funds, largest gap first.

Holding weights in CNYA and CXSE, widest gap first
Holding	More in CNYAMore in CXSE	CNYA	CXSE
Zhongji Innolight A	CXSE +1.51 points	1.43%	2.94%
Midea Group A	CXSE +1.08 points	0.70%	1.78%
Ping An Insurance (Group) of China	CXSE +1.01 points	1.35%	2.36%
Contemporary Amperex Technology A	CXSE +0.91 points	2.45%	3.36%
Wuxi Apptec A	CXSE +0.79 points	0.84%	1.63%
Eoptolink Technology Inc A	CXSE +0.74 points	0.65%	1.39%
Montage Technology A	CXSE +0.52 points	0.43%	0.95%
Gigadevice Semiconductor Inc A	CXSE +0.45 points	0.43%	0.88%
Ningxia Baofeng Energy Group Ltd A	CNYA +0.34 points	0.37%	0.03%
Byd A	CNYA +0.32 points	1.08%	0.76%
Gree Electric Appliances Inc of Zh	CXSE +0.29 points	0.28%	0.57%
Jiangsu Hengli Hydraulic A	CNYA +0.28 points	0.29%	<0.01%
Shenzhen Mindray Bio-Medical Elect	CNYA +0.28 points	0.55%	0.27%
Foshan Hai Tian Flavouring & Food	CNYA +0.27 points	0.34%	0.07%
Ping An Bank Ltd A	CNYA +0.27 points	0.54%	0.27%
Suzhou Dongshan Precision Manufact	CXSE +0.24 points	0.38%	0.62%
East Money Information Ltd A	CXSE +0.24 points	0.64%	0.88%
Victory Giant Technology Huizhou L	CXSE +0.23 points	0.27%	0.50%
S.f. Holding Ltd A	CNYA +0.23 points	0.39%	0.16%
Beijing Kingsoft Office Software A	CNYA +0.22 points	0.25%	0.03%
Zangge Mining Ltd A	CNYA +0.22 points	0.27%	0.05%
Avary Holding (Shenzhen) Ltd A	CNYA +0.21 points	0.26%	0.05%
Luxshare Precision Industry Ltd A	CXSE +0.20 points	0.76%	0.96%
Range Intelligent Computing Techno	CNYA +0.20 points	0.20%	<0.01%
Lens Technology A	CNYA +0.20 points	0.28%	0.08%
Rockchip Electronics Ltd A	CNYA +0.19 points	0.19%	<0.01%
Shanghai United Imaging Healthcare	CNYA +0.17 points	0.20%	0.03%
Satellite Chemical Ltd A	CNYA +0.18 points	0.20%	0.02%
Focus Media Information Technology	CNYA +0.16 points	0.18%	0.02%
Inner Mongolia Yili Industrial Gro	CXSE +0.16 points	0.44%	0.60%
Sichuan Kelun Pharmaceutical Ltd A	CNYA +0.16 points	0.16%	<0.01%
Omnivision Integrated Circuits Gro	CNYA +0.14 points	0.24%	0.10%
Yuanjie Semiconductor Technology L	CXSE +0.14 points	0.22%	0.36%
Shenzhen Inovance Technology A	CXSE +0.15 points	0.19%	0.34%
Tianqi Lithium Industries A	CNYA +0.14 points	0.14%	<0.01%
Guangdong Hec Technology Holding L	CNYA +0.13 points	0.16%	0.03%
Ganfeng Lithium Group Ltd A	CNYA +0.13 points	0.14%	0.01%
Haier Smart Home Ltd A	CNYA +0.11 points	0.30%	0.19%
Goldwind SCIENCE&TECHNOLOGY Ltd A	CNYA +0.11 points	0.11%	<0.01%
Shenzhen Envicool Technology Ltd A	CNYA +0.10 points	0.11%	<0.01%
Fuyao Glass Industry Group Ltd A	CNYA +0.10 points	0.26%	0.16%
Supcon Technology A	CNYA +0.10 points	0.14%	0.04%
Goertek A	CNYA +0.11 points	0.18%	0.07%
Zhejiang Huayou Cobalt Ltd A	CNYA +0.10 points	0.15%	0.05%
Eve Energy A	CNYA +0.10 points	0.23%	0.13%
Huaqin Technology A	CNYA +0.09 points	0.18%	0.09%
Sg Micro Corp A	CNYA +0.09 points	0.13%	0.04%
Hubei Dinglong Ltd A	CNYA +0.09 points	0.11%	0.02%
Shenzhen Techwinsemi Technology Lt	CNYA +0.09 points	0.15%	0.06%
Ingenic Semiconductor A	CNYA +0.08 points	0.13%	0.05%
Chaozhou Three-Circle (Group) Ltd	CXSE +0.09 points	0.35%	0.44%
Konfoong Materials International L	CNYA +0.08 points	0.12%	0.04%
Chifeng Jilong Gold Mining Group A	CNYA +0.08 points	0.14%	0.06%
Shenzhen Megmeet Electrical Ltd A	CNYA +0.08 points	0.12%	0.04%
Shenzhen Longsys Electronics A	CNYA +0.07 points	0.21%	0.14%
Cambricon Technologies Corporation	CXSE +0.06 points	1.28%	1.34%
Foxconn Industrial Internet Ltd A	CNYA +0.05 points	1.10%	1.05%
Hengtong Optic Electric Ltd A	CXSE +0.05 points	0.25%	0.30%
Sharetronic Data Technology Ltd A	CNYA +0.05 points	0.18%	0.13%
Sany Heavy Industry Ltd A	CNYA +0.05 points	0.35%	0.30%
Longi Green Energy Technology A	CNYA +0.05 points	0.16%	0.11%
Tcl Technology Group A	CXSE +0.05 points	0.20%	0.25%
Tbea Ltd A	CNYA +0.05 points	0.19%	0.14%
Zhejiang Sanhua Intelligent Contro	CXSE +0.05 points	0.13%	0.18%
Unisplendour Corp Ltd A	CNYA +0.04 points	0.14%	0.10%
Piotech Inc A	CNYA +0.04 points	0.29%	0.25%
Robotechnik Intelligent Technology	CNYA +0.03 points	0.10%	0.07%
Hans Laser Technology Ltd A	CXSE +0.03 points	0.05%	0.08%
Muyuan Foods Group Ltd A	CNYA +0.03 points	0.52%	0.49%
China Minsheng Banking A	CNYA +0.03 points	0.31%	0.28%
Tongfu Microelectronics Ltd A	CNYA +0.03 points	0.16%	0.13%
Verisilicon Microelectronics (Shan	CNYA +0.02 points	0.12%	0.10%
Jiangsu Hengrui Medicine Ltd A	CNYA +0.02 points	0.71%	0.69%
Biwin Storage Technology Ltd A	CNYA +0.02 points	0.17%	0.15%
Wus Printed Circuit (Kunshan) A	CXSE +0.01 points	0.43%	0.44%
Jcet Group Ltd A	CXSE +0.02 points	0.19%	0.21%
Wens Foodstuff Group	CNYA +0.02 points	0.25%	0.23%
Jiangsu Zhongtian Technology Ltd A	CNYA +0.01 points	0.18%	0.17%
Shandong Sinocera Functional Mater	CNYA +0.01 points	0.04%	0.03%
Skyverse Technology Ltd A	CNYA +0.01 points	0.18%	0.17%
Suzhou Tfc Optical Communicationin	Same weight	0.39%	0.39%
Sungrow Power Supply Ltd A	Same weight	0.32%	0.32%
Shannon Semiconductor Technology L	CNYA +0.01 points	0.10%	0.09%
Hangzhou Chang Chuan Technology Lt	Same weight	0.27%	0.27%

All 416 CNYA holdings⁠All 205 CXSE holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CNYA vs CXSE Cost

Overpaying CNYA vs CXSE

$5,275

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

CNYA 0.60%
$11,817
CXSE 0.32%
$6,542

Amount$10,000

Years30 years

Cost over time

CNYA 0.60%
CXSE 0.32%
Overpaying

Year by year

Year	CNYA	CXSE	Overpaying
10	$1,076	$580	$496
20	$4,116	$2,250	$1,866
30	$11,817	$6,542	$5,275

Expense ratio

0.60%CNYA
0.32%CXSE, cheaper

CXSE0.32%CNYA0.60%

0.19%5.01%

Middle half of China funds
Median 0.65%

CXSE 2nd cheapest of 28 funds

CNYA 9th cheapest of 28 funds

CNYA vs CXSE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CNYA 2.13%; CXSE 2.22%, better
Payout (12M): CNYA $0.65; CXSE $0.69
Last payment: CNYA $0.10; CXSE $0.26
Ex-dividend: CNYA Jun 15, 2026; CXSE Sep 25, 2026
Paid on: CNYA Jun 18, 2026; CXSE Sep 29, 2026
Frequency: CNYA Twice a year; CXSE Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

CNYATwice a year · 19 paymentsAll CNYA payments⁠

CXSEQuarterly · 31 paymentsAll CXSE payments⁠

CNYA vs CXSE Risk

Fall from peak · 5 years

CNYA
CXSE

Risk facts

VolatilityStd dev, 3 years: CNYA 20.2%, betterCXSE 24.9%
Return per unit of riskSharpe ratio, 3 years: CNYA 0.21, betterCXSE 0.12
Worst fallMax drawdown, 5 years: CNYA −44.6%, betterCXSE −57.6%
Market sensitivityBeta, 5 years: CNYA 0.60CXSE 0.75; Market = 1

CNYA and CXSE in the news

All news⁠

Deep Dive
Korea funds gained 94% this year. China internet funds lost 28%
Sep 13, 2026CNYA

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CNYA vs CXSE

In short

Stated mandate

Why people hold it

Worth knowing

How CNYA and CXSE differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CNYA

Only in CXSE

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Korea funds gained 94% this year. China internet funds lost 28%

How CNYA and CXSE differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in CNYA

Only in CXSE

Weight gaps