DEXC vs XSOE: Grades, Fees and Holdings Compared

Dimensional Emerging Markets ex China Core Equity ETF

DEXCBNYSE Arca

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund

XSOEANYSE Arca

Overlap

50.7%by weight

Expense ratio

XSOE −0.11pt a year

DEXC0.43%XSOE0.32%

Avg volume · 30D

XSOE 4.6×the volume

DEXC21.2KXSOE97K

DEXC vs XSOE Performance

Oct 31, 2025 – Oct 30, 2026

+22.8%DEXC+10.5%XSOE

Expense ratio: DEXC 0.43%; XSOE 0.32%, better
Fund size: DEXC $270M; XSOE $1.91B
1Y total return: DEXC +22.8%, better; XSOE +10.5%
Yield (12M): DEXC 1.77%; XSOE 1.82%, better
Holdings: DEXC 3250; XSOE 866
Avg volume (30D): DEXC 21.2K sh; XSOE 97K sh, better
NAV per share: DEXC $72.92; XSOE $43.15
52W range

ETF.net Grade

Pillar letters and Scores for DEXC, XSOE, with each pillar’s weight
Pillar	DEXC	XSOE
Cost30% weight	B57	A71Higher
Mission25% weight	A100	A100
Risk15% weight	C40	C48Higher
Tradability15% weight	C50	C53Higher
Holdings10% weight	A73Higher	B59
Durability5% weight	B60	A81Higher

Rank among Emerging Markets Stocks funds

How we build Categories ›

Same Category. DEXC and XSOE are both graded against the same 20 Emerging Markets Stocks funds, so their Grades compare head to head.

Emerging Markets Stocks⁠

Category · 20 funds

See all 20 ›

XSOE ranks 4th and DEXC 7th of 20 funds in the Emerging Markets Stocks Category.

Rank 1AVEXCVanguard Emerging Markets Ex-China ETFScore 82
Rank 2AXCEMColumbia EM Core ex-China ETFScore 78
Rank 3ABKEMBNY Mellon Emerging Markets Equity ETFScore 76
Rank 4AXSOEWisdomTree Emerging Markets ex-State-Owned Enterprises FundScore 71
Rank 5BEEMAiShares MSCI Emerging Markets Asia ETFScore 68
Rank 5BKEMXKraneShares MSCI Emerging Markets ex China Index ETFScore 68
Rank 7BDEXCDimensional Emerging Markets ex China Core Equity ETFScore 65
Rank 8BGMFState Street SPDR S&P Emerging Asia Pacific ETFScore 64

Our read on each fund

ETF.net Research

DEXCBDimensional Emerging Markets ex China Core Equity ETF

XSOEAWisdomTree Emerging Markets ex-State-Owned Enterprises Fund

In short

DEXC China sits out; roughly 3,500 other emerging-market stocks don't. Dimensional runs this one actively, leaning toward smaller, cheaper and more profitable companies instead of tracking a cap-weighted index.

XSOE One screen, applied hard: if a government owns more than 20% of a company, XSOE leaves it out. What is left is emerging markets minus the state champions, with country weights pushed back toward the standard EM mix.

Stated mandate

DEXC The portfolio seeks long-term capital appreciation.

XSOE The fund seeks to track the investment results of emerging-market companies that are not state-owned enterprises, defined as companies with no more than 20% government ownership.

Why people hold it

DEXC Goes wide: roughly 3,500 names across emerging markets with China excluded, and a documented lean toward smaller-cap, lower-relative-price and higher-profitability companies rather than index weights.dimensional.com sec.gov sec.gov 2
What's inside matches the label: emerging-market equity with China left out, in a standard 1940 Act fund that pays shareholders quarterly.
0.43% net of a waiver through February 28, 2027 (0.56% gross) sits near the category median fee, which is notable for a hands-on, factor-tilted portfolio rather than a tracker.

XSOE The 20% government-ownership cutoff is an index rule, not a manager's judgment call, and the fund has run on it since its 2014 launch.wisdomtree.com
0.32% a year, under the typical fund in its emerging-markets peer group, for a screen most broad EM funds never apply.
After the state-owned names come out, the index pushes country weights back toward where they started, so it stays a filtered EM portfolio rather than a country bet.wisdomtree.com
A multi-billion-dollar fund spread across roughly 800 stocks, and it has tracked its index closely.

Worth knowing

DEXC You pay for the tilts. Index-style ex-China rivals cost a fraction: VEXC charges 0.07% and XCEM 0.16%, neither reliant on a waiver.
That 0.43% leans on a fee waiver that runs through February 28, 2027. The underlying gross expense ratio is 0.56%.
Launched in 2024 and thinly traded next to the category's giants, so there's limited history to study and spreads deserve a look before you place an order.

XSOE Cheaper broad EM shelf-mates exist (BKEM at 0.11%, XCEM at 0.16%). The screen is what you are paying the difference for.
Government stakes cluster in banks and energy in EM, so removing them shifts the sector mix toward private-sector names. Expect it to behave differently from a plain EM index.wisdomtree.com
No country is excluded, so China stays in the mix, unlike ex-China peers VEXC and XCEM. It also sits among the more volatile funds in its peer group.

Full DEXC profile⁠

Full XSOE profile⁠

DEXC vs XSOE Holdings

How DEXC and XSOE differ

Overlap by weight

50.7%

Shared holdings make up 70.9% of XSOE and 58.9% of DEXC.

Level by level

Holdings479 in both50.7%
Countryby domicile82.6%
Sector11 Sectors88.5%
Asset classEquity100%

Sector

Sector weights in DEXC and XSOE, widest gap first
Sector	More in DEXCMore in XSOE	DEXC	XSOE
Technology	DEXC +6.4 points	49.4%	43.0%
Consumer Discretionary	XSOE +5.6 points	5.5%	11.1%
Communication	XSOE +2.8 points	2.6%	5.5%
Health Care	XSOE +1.8 points	2.7%	4.5%
Energy	DEXC +1.6 points	3.3%	1.7%
Materials	DEXC +1.4 points	6.6%	5.2%
Industrials	DEXC +1.1 points	9.3%	8.2%
Consumer Staples	XSOE +1.2 points	2.7%	3.9%
Utilities	DEXC +0.6 points	1.7%	1.1%
Real Estate	DEXC +0.3 points	1.3%	1.0%
Financials	DEXC +0.1 points	14.8%	14.7%

Country, concentration and asset class

Country by domicile

Country weights in DEXC and XSOE, widest gap first
Country	More in DEXCMore in XSOE	DEXC	XSOE
China	XSOE +16.5 points	0.1%	16.6%
Taiwan	DEXC +10.9 points	40.6%	29.7%
Brazil	DEXC +1.5 points	4.4%	2.9%
India	DEXC +1.0 points	15.2%	14.2%
Greece	DEXC +0.8 points	0.8%	0.0%
South Africa	DEXC +0.7 points	4.7%	4.0%
Hong Kong	XSOE +0.7 points	0.0%	0.7%
United States	DEXC +0.6 points	1.4%	0.8%
Other countries (14)	DEXC +1.7 points	32.8%	31.1%

Outside the US: DEXC 0% developed, 100% emerging. XSOE 1% developed, 99% emerging.

Concentration

Weight in the 10 largest Holdings

DEXC30.5%
XSOE37.1%

Securities held

DEXC3,224
XSOE842

Asset class

DEXC: Equity
XSOE: Equity

Holdings

Only in DEXC2,745
In both479
Only in XSOE363

Only in DEXC

2,745 securities, 40.8% of DEXC by weight

Taiwan Union Technology C0.96%
Ase Technology Holding Co0.68%
United Microelectronics C0.57%
Hdfc Bank Ltd0.55%
Petroleo Brasileiro SA0.51%
Reliance Industries Ltd0.49%
Petroleo Brasileiro SA0.46%
Vale SA0.31%
Kb Financial Group Inc0.31%
Orlen SA0.28%
Al Rajhi Bank0.26%
Gold Fields Ltd0.24%
Ardentec Corp0.21%
Shinhan Financial Group C0.21%
Aspeed Technology Inc0.21%
Kuwait Finance House Kscp0.21%
Mahindra & Mahindra Ltd0.20%
Valterra Platinum Limited0.20%
State Bank of India0.20%
First Abu Dhabi Bank Pjsc0.19%
Mega Financial Holding Co0.19%
Saudi Telecom Co0.19%
Vanguard International SE0.19%
Sasol Ltd0.19%
Hua Nan Financial Holding0.19%
Warba Bank Kscp0.19%
Emirates Nbd Bank Pjsc0.19%
Sibanye Stillwater Ltd0.17%
Anglogold0.17%
The Saudi National Bank0.16%
Emirates Telecommunicatio0.15%
Larsen & Toubro Ltd0.15%
Qatar National Bank Qpsc0.14%
Win Semiconductors Corp0.14%
Emaar Properties Pjsc0.14%
Saudi Arabian Oil Co0.13%
Woori Financial Group Inc0.13%
Cemex Sab De Cv0.13%
America Movil Sab De Cv0.12%
Air Arabia Pjsc0.12%
Tata Motors Ltd0.12%
Abu Dhabi Islamic Bank Pj0.12%
Shinsegae Co Ltd0.12%
Piraeus Bank SA0.12%
Ashok Leyland Ltd0.12%
Public Bank Bhd0.12%
Taiwan Cooperative Financ0.11%
Chunghwa Telecom Co Ltd0.11%
Samvardhana Motherson Int0.11%
Qatar Rial0.11%

Only in XSOE

363 securities, 30.1% of XSOE by weight

Tencent Holdings Ltd2.27%
Alibaba Group Holding Ltd1.72%
Al Rajhi Bank1.11%
SK Square Co Ltd0.72%
MercadoLibre Inc0.71%
Reliance Industries Ltd0.70%
Kuwaiti Dinar0.60%
Contemporary Amperex Techn-A0.50%
Kookmin Bank0.41%
PDD Holdings Inc.0.40%
Zhongji Innolight Co Ltd-A0.40%
Ping An Insurance Group Co of China0.39%
Xiaomi Corp-Class B0.34%
Midea Group Co Ltd0.32%
Meituan - Class B0.32%
Netease Inc0.30%
Mahindra & Mahindra Ltd0.30%
Wuxi Apptec Co Ltd-A0.27%
Larsen & Toubro Ltd0.24%
Bajaj Finance Ltd0.24%
Sar0.22%
Beigene Ltd0.22%
Ping An Insurance Group Co of China0.21%
Jd.Com Inc - Cl A0.21%
BYD Co Ltd0.20%
King Slide Works Co Ltd0.20%
Cambricon Technologies-A0.20%
Zomato Ltd0.20%
Eoptolink Technology Inc L-A0.20%
Embraer Sa0.19%
Trip.Com Group Ltd0.19%
Samsung C&T Corp0.19%
America Movil Sab De Cv0.18%
Advanced Info Service PCL - NVDR0.18%
Wuxi Biologics Cayman Inc0.16%
Baidu Inc-Class A0.16%
East Money Information Co-A0.16%
Foxconn Industrial Internet Co0.16%
Montage Technology Co Ltd-A0.16%
BYD Co Ltd0.15%
Kia Corp0.15%
Tata Motors Ltd /New0.15%
Dr Sulaiman Al Habib Medical0.15%
Luxshare Precision Industry Co0.15%
Cemex SAB de CV0.15%
Gigadevice Semiconductor Beiji0.15%
Posco Holdings0.14%
Grasim Industries Ltd0.14%
Jiangsu Hengrui Medicine Co Ltd0.13%
Yum China Holdings Inc0.13%

Weight gaps

The 100 widest of 479 Holdings in both funds.

Holding weights in DEXC and XSOE, widest gap first
Holding	More in DEXCMore in XSOE	DEXC	XSOE
Samsung Electronics Co	XSOE +2.59 points	4.72%	7.31%
Mediatek Inc	XSOE +0.99 points	0.76%	1.75%
Hdfc Bank Ltd	XSOE +0.74 points	0.01%	0.76%
Sk Hynix Inc	DEXC +0.59 points	7.09%	6.50%
Ase Technology Holding Co	XSOE +0.57 points	0.03%	0.60%
Macronix International	DEXC +0.51 points	0.56%	0.05%
Delta Electronics Inc	XSOE +0.43 points	0.26%	0.69%
United Microelectronics C	XSOE +0.36 points	0.02%	0.38%
Delta Electronics Thailan	XSOE +0.32 points	<0.01%	0.32%
Capitec Limited	XSOE +0.31 points	0.04%	0.35%
Shinhan Financial Group	XSOE +0.31 points	0.01%	0.32%
Natl Bk of Kuwait	XSOE +0.30 points	0.10%	0.40%
Unimicron Technology Corp	DEXC +0.28 points	0.65%	0.37%
Firstrand Ltd	XSOE +0.26 points	0.08%	0.34%
Hon Hai Precision Industr	XSOE +0.25 points	0.51%	0.76%
Tripod Technology Corp	DEXC +0.24 points	0.31%	0.07%
Standard Bank Group Ltd	XSOE +0.21 points	0.12%	0.33%
Infosys LtdINFY	XSOE +0.21 points	0.07%	0.28%
Lite-On Technology Corp	DEXC +0.20 points	0.35%	0.15%
Sigurd Microelectronics C	DEXC +0.20 points	0.22%	0.02%
Gold Circuit Electronics	DEXC +0.20 points	0.29%	0.09%
Allegro.eu SA	XSOE +0.20 points	0.04%	0.24%
Fomento Economico Mexican	XSOE +0.20 points	<0.01%	0.20%
Taiwan Semiconductor Manu	XSOE +0.19 points	13.99%	14.18%
Bank Central Asia Tbk Pt	XSOE +0.18 points	0.05%	0.23%
Ts Financial Holding Co	XSOE +0.17 points	0.12%	0.29%
Press Metal Aluminium Hol	XSOE +0.17 points	0.05%	0.22%
Weg SA	XSOE +0.17 points	0.02%	0.19%
Bharti Airtel Ltd	XSOE +0.16 points	0.47%	0.63%
Qatar Islamic Bank Saq	XSOE +0.16 points	0.03%	0.19%
Gulf Development Pcl	XSOE +0.17 points	<0.01%	0.17%
Bank Polska Kasa Opieki’s	XSOE +0.16 points	0.04%	0.20%
Kotak Mahindra Bank Ltd	XSOE +0.15 points	0.11%	0.26%
Sun Pharmaceutical Indust	XSOE +0.15 points	0.08%	0.23%
Grupo Financiero Banorte	XSOE +0.15 points	0.10%	0.25%
Naver Corp	XSOE +0.15 points	0.04%	0.19%
Alinma Bank	XSOE +0.15 points	0.05%	0.20%
Icici Bank LtdIBN	XSOE +0.14 points	0.48%	0.62%
Hindustan Unilever Ltd	XSOE +0.14 points	0.01%	0.15%
Kinsus Interconnect Techn	DEXC +0.13 points	0.20%	0.07%
Divi's Laboratories Ltd	XSOE +0.13 points	0.03%	0.16%
Hong Leong Bank Bhd	XSOE +0.13 points	0.01%	0.14%
Wistron Corp	DEXC +0.13 points	0.28%	0.15%
Oci Co Ltd	DEXC +0.12 points	0.14%	0.02%
Celltrion Inc	XSOE +0.12 points	0.06%	0.18%
Ultratech Cement Ltd	XSOE +0.12 points	0.04%	0.16%
Ctbc Financial Holding Co	DEXC +0.11 points	0.51%	0.40%
Lpp SA	XSOE +0.11 points	0.03%	0.14%
Chroma Ate Inc	XSOE +0.11 points	0.09%	0.20%
Ambev SA	XSOE +0.11 points	0.02%	0.13%
Far Eastone Telecommunica	DEXC +0.10 points	0.17%	0.07%
Maruti Suzuki India Ltd	XSOE +0.11 points	0.07%	0.18%
Wpg Holdings Ltd	DEXC +0.11 points	0.16%	0.05%
Asia Vital Components Co	XSOE +0.10 points	0.17%	0.27%
Tech Mahindra Ltd	XSOE +0.10 points	0.04%	0.14%
Titan Co Ltd	XSOE +0.10 points	0.12%	0.22%
Otp Bank Nyrt	XSOE +0.10 points	0.19%	0.29%
Lg Electronics Inc	DEXC +0.10 points	0.22%	0.12%
Daeduck Electronics Co Lt	DEXC +0.10 points	0.12%	0.02%
Hyundai Motor Co	DEXC +0.10 points	0.37%	0.27%
Compeq Manufacturing Co L	DEXC +0.09 points	0.15%	0.06%
Winbond Electronics Corp	XSOE +0.10 points	0.04%	0.14%
Samsung Biologics Co Ltd	XSOE +0.09 points	0.05%	0.14%
Tisco Financial Group Pcl	XSOE +0.10 points	<0.01%	0.10%
Powerchip Semiconductor M	DEXC +0.09 points	0.16%	0.07%
Hanmi Semiconductor	DEXC +0.10 points	0.16%	0.06%
Discovery Ltd	XSOE +0.10 points	0.05%	0.15%
Trent Ltd	XSOE +0.10 points	0.01%	0.11%
Dr Reddy's Laboratories L	XSOE +0.09 points	<0.01%	0.10%
Woori Financial Group Inc	XSOE +0.09 points	0.08%	0.17%
Indian Hotels Co Ltd/The	XSOE +0.09 points	0.02%	0.11%
Shoprite Holdings Ltd	XSOE +0.09 points	0.05%	0.14%
Samsung E&A Co Ltd	DEXC +0.09 points	0.16%	0.07%
Adani Enterprises Ltd	XSOE +0.09 points	0.01%	0.10%
Kasikornbank Pcl	XSOE +0.09 points	<0.01%	0.09%
Boubyan Bank Kscp	XSOE +0.08 points	<0.01%	0.09%
E.sun Financial Holding C	DEXC +0.08 points	0.31%	0.23%
Nan Ya Plastics Corp	XSOE +0.09 points	0.29%	0.38%
Isupetasys Co Ltd	DEXC +0.09 points	0.12%	0.03%
Elite Material Co Ltd	XSOE +0.08 points	0.28%	0.36%
Jentech Precision Industr	XSOE +0.08 points	0.07%	0.15%
Lg Energy Solution Ltd	XSOE +0.08 points	<0.01%	0.09%
Doosan Enerbility	XSOE +0.08 points	0.11%	0.19%
Qatar International Islam	XSOE +0.08 points	0.02%	0.10%
Ytl Power International B	XSOE +0.08 points	0.02%	0.10%
Holy Stone Enterprise Co	DEXC +0.07 points	0.10%	0.03%
Bid Corp Ltd	XSOE +0.08 points	0.07%	0.15%
True Corp Pcl	XSOE +0.08 points	0.01%	0.09%
International Container TICTEF	XSOE +0.08 points	0.02%	0.10%
Hana Financial Group Inc	DEXC +0.07 points	0.33%	0.26%
Suzano SA	XSOE +0.08 points	<0.01%	0.08%
Samsung Electro-Mechanics	DEXC +0.08 points	0.55%	0.47%
Novatek Microelectronics	DEXC +0.07 points	0.17%	0.10%
Grupo Mexico Sab De Cv	XSOE +0.07 points	0.26%	0.33%
Db Hitek Co Ltd	DEXC +0.08 points	0.10%	0.02%
Max Healthcare Institute	XSOE +0.08 points	0.01%	0.09%
Gigabyte Technology Co Lt	DEXC +0.07 points	0.09%	0.02%
Kgi Financial Holding Co	DEXC +0.07 points	0.27%	0.20%
B3 SA - Brasil Bolsa Balc	XSOE +0.07 points	0.07%	0.14%
Jsw Steel Ltd	XSOE +0.07 points	0.07%	0.14%

All 3,506 DEXC holdings⁠All 770 XSOE 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.

DEXC vs XSOE Cost

Overpaying DEXC vs XSOE

$2,120

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

DEXC 0.43%
$8,662
XSOE 0.32%
$6,542

Amount$10,000

Years30 years

Cost over time

DEXC 0.43%
XSOE 0.32%
Overpaying

Year by year

Year	DEXC	XSOE	Overpaying
10	$776	$580	$196
20	$2,994	$2,250	$744
30	$8,662	$6,542	$2,120

Expense ratio

0.43%DEXC
0.32%XSOE, cheaper

XSOE0.32%DEXC0.43%

0.07%0.91%

Middle half of Emerging Markets Stocks funds
Median 0.45%

XSOE 6th cheapest of 20 funds

DEXC 10th cheapest of 20 funds

DEXC vs XSOE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): DEXC 1.77%; XSOE 1.82%, better
Payout (12M): DEXC $1.27; XSOE $0.78
Last payment: DEXC $0.49; XSOE $0.22
Ex-dividend: DEXC Sep 22, 2026; XSOE Sep 25, 2026
Paid on: DEXC Sep 24, 2026; XSOE Sep 29, 2026
Frequency: DEXC Quarterly; XSOE Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DEXCQuarterly · 8 paymentsAll DEXC payments⁠

XSOEQuarterly · 33 paymentsAll XSOE payments⁠

DEXC vs XSOE Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: DEXC 22.2%since Dec 2024XSOE 17.0%
Return per unit of riskSharpe ratio, 3 years: DEXC 0.86since Dec 2024XSOE 0.90
Worst fallMax drawdown, 5 years: DEXC −18.3%since Nov 2024XSOE −37.2%
Market sensitivityBeta, 5 years: DEXC 1.10XSOE 1.18; Market = 1

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