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CXSE vs KWEB

WisdomTree China ex-State-Owned Enterprises Fund

CXSEANasdaq

KraneShares CSI China Internet ETF

KWEBCNYSE Arca

Overlap

Expense ratio

CXSE −0.37pt a year

CXSE0.32%KWEB0.69%

Avg volume · 30D

KWEB 481.8×the volume

CXSE37.2KKWEB17.9M

10Y return · a year

CXSE +6.3pt

CXSE+3.1%KWEB−3.2%

CXSE vs KWEB Performance

Oct 29, 2021 – Oct 30, 2026

−39.0%CXSE−42.9%KWEB

Oct 29, 2021 to Oct 30, 2026. CXSE −39.0%. KWEB −42.9%. Use the arrow keys to read each point.−30%−20%−10%0%Oct 2021Apr 2024Oct 2026
Expense ratio
CXSE 0.32%, better
KWEB 0.69%
Fund size
CXSE $372M
KWEB $4.22B
1Y total return
CXSE −24.9%, better
KWEB −39.6%
Yield (12M)
CXSE 2.22%
KWEB 9.22%, better
Holdings
CXSE 241
KWEB 46
Avg volume (30D)
CXSE 37.2K sh
KWEB 17.9M sh, better
NAV per share
CXSE $31.37
KWEB $22.70
52W range

ETF.net Grade

CXSE: Cost 97, Risk 47, Mission 100, Tradability 63, Holdings 74, Durability 79. KWEB: Cost 38, Risk 16, Mission not scored, Tradability 77, Holdings 35, Durability 79.
Pillar letters and Scores for CXSE, KWEB, with each pillar’s weight
PillarCXSEKWEB
Cost30% weightA97HigherD38
Mission25% weightA100Not scored
Risk15% weightC47HigherF16
Tradability15% weightB63A77Higher
Holdings10% weightA74HigherD35
Durability5% weightA79A79

Rank among China funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. CXSE and KWEB 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 KWEB 21st of 28 funds in the China Category.

  1. Rank 1ACXSEWisdomTree China ex-State-Owned Enterprises FundScore 81
  2. Rank 2AFLCHFranklin FTSE China ETFScore 80
  3. Rank 20CNBCENeuberger Berman China Equity ETFScore 44
  4. Rank 21CKWEBKraneShares CSI China Internet ETFScore 43
  5. Rank 22CCCPXCorgi China 2x Daily ETFScore 40

Our read on each fund

ETF.net Research

CXSEAWisdomTree China ex-State-Owned Enterprises Fund

KWEBCKraneShares CSI China Internet ETF

In short

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.

KWEB China's internet giants, undiluted: roughly 30 offshore-listed names instead of a whole-market basket. Live since 2013, KWEB is the ticker traders reach for when they want to express a view on China tech.

Stated mandate

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

KWEB The Fund seeks to track, before fees and expenses, the performance of the CSI Overseas China Internet Index, which covers publicly traded China-based companies focused primarily on internet and internet-related businesses.

Why people hold it

  • 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.
  • KWEB Tracks the CSI Overseas China Internet Index: about 30 China-based internet companies listed in Hong Kong, on NASDAQ or the NYSE. A sector bet, not a country bet.kraneshares.com
  • Among the most actively traded funds in the China group, with an options market deep enough that KraneShares runs a covered-call fund written on KWEB itself.kraneshares.com
  • At 0.69% a year, the fee sits right at the median for its China peer group despite the narrow single-theme mandate.
  • Trading since 2013 and now a multi-billion-dollar fund: a long operating history for a single-country thematic product.

Worth knowing

  • 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.
  • KWEB About 30 stocks, one sector, one country. That concentration cuts both ways, and price swings run large next to broad China funds.
  • The index covers offshore listings only (Hong Kong, NASDAQ, NYSE), so mainland-listed A-share internet names sit outside the portfolio.kraneshares.com
  • Whole-market China exposure is cheaper: FLCH charges 0.19% and MCHI 0.59%, both spanning the full market rather than one theme.

Full CXSE profile⁠

Full KWEB profile⁠

CXSE vs KWEB 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.

CXSE vs KWEB Cost

Overpaying KWEB vs CXSE

$6,887

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

  • CXSE 0.32%

    $6,542

  • KWEB 0.69%

    $13,429

$10,000
30 years

Cost over time

  • CXSE 0.32%
  • KWEB 0.69%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530KWEB $13,429CXSE $6,542

Year by year

YearCXSEKWEBOverpaying
10$580$1,232$652
20$2,250$4,697$2,447
30$6,542$13,429$6,887

Expense ratio

  • 0.32%CXSE, cheaper
  • 0.69%KWEB
  • Middle half of China funds
  • Median 0.65%

CXSE 2nd cheapest of 28 funds

KWEB 17th cheapest of 28 funds

CXSE vs KWEB Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
CXSE 2.22%
KWEB 9.22%, better
Payout (12M)
CXSE $0.69
KWEB $2.10
Last payment
CXSE $0.26
KWEB $2.10
Ex-dividend
CXSE Sep 25, 2026
KWEB Dec 22, 2025
Paid on
CXSE Sep 29, 2026
KWEB Dec 23, 2025
Frequency
CXSE Quarterly
KWEB Annual

Distribution history

Per share, 2017 to 2026, same scale for both

CXSEQuarterly · 31 paymentsAll CXSE payments⁠
One bar per payment. 31 payments from 2017 to 2026 YTD. Jun 26, 2017 $0.23; Sep 26, 2017 $0.07; Dec 26, 2017 $0.0095; Jun 25, 2018 $0.26; Sep 25, 2018 $0.14; Dec 24, 2018 $0.05; Jun 24, 2019 $0.18; Sep 24, 2019 $0.21; Dec 23, 2019 $0.01; Jun 23, 2020 $0.21; Sep 22, 2020 $0.10; Dec 21, 2020 $0.05; Jun 24, 2021 $0.25; Sep 24, 2021 $0.14; Dec 27, 2021 $0.04; Mar 25, 2022 $0.16; Jun 24, 2022 $0.23; Sep 26, 2022 $0.11; Dec 23, 2022 $0.04; Jun 26, 2023 $0.25; Sep 25, 2023 $0.11; Dec 22, 2023 $0.13; Jun 25, 2024 $0.29; Sep 25, 2024 $0.14; Dec 26, 2024 $0.09; Jun 25, 2025 $0.32; Sep 25, 2025 $0.14; Dec 26, 2025 $0.33; Mar 26, 2026 $0.02; Jun 25, 2026 $0.09; Sep 25, 2026 $0.26. Use the arrow keys to read each point.$0$2.502017202020232026YTD
KWEBAnnual · 9 paymentsAll KWEB payments⁠
One bar per payment. 9 payments from 2017 to 2026 YTD. Dec 19, 2017 $0.34; Dec 26, 2018 $1.27; Dec 27, 2019 $0.04; Dec 29, 2020 $0.22; Dec 29, 2021 $2.58; Dec 18, 2023 $0.42; Dec 27, 2023 $0.04; Dec 17, 2024 $1.02; Dec 22, 2025 $2.10. Use the arrow keys to read each point.$0$2.502017202020232026YTD

CXSE vs KWEB Risk

Fall from peak · 5 years

  • CXSE
  • KWEB
Oct 29, 2021 to Oct 30, 2026. Worst fall: KWEB −61.9% · Oct 2022. Use the arrow keys to read each point.−60%−40%−20%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
CXSE 24.9%, betterKWEB 31.1%
Return per unit of riskSharpe ratio, 3 years
CXSE 0.12, betterKWEB −0.03
Worst fallMax drawdown, 5 years
CXSE −57.6%, betterKWEB −61.9%
Market sensitivityBeta, 5 years
CXSE 0.75KWEB 0.88

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