FLLA vs XSOE: Grades, Fees and Holdings Compared

Franklin FTSE Latin America ETF

FLLABNYSE Arca

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund

XSOEANYSE Arca

Overlap

4.0%by weight

Expense ratio

FLLA −0.13pt a year

FLLA0.19%XSOE0.32%

Avg volume · 30D

XSOE 3.6×the volume

FLLA27.1KXSOE97K

5Y return · a year

FLLA +7.8pt

FLLA+11.9%XSOE+4.1%

FLLA vs XSOE Performance

Oct 29, 2021 – Oct 30, 2026

+75.3%FLLA+22.0%XSOE

Expense ratio: FLLA 0.19%, better; XSOE 0.32%
Fund size: FLLA $102M; XSOE $1.91B
1Y total return: FLLA +14.3%, better; XSOE +10.5%
Yield (12M): FLLA 5.11%, better; XSOE 1.82%
Holdings: FLLA 135; XSOE 866
Avg volume (30D): FLLA 27.1K sh; XSOE 97K sh, better
NAV per share: FLLA $25.52; XSOE $43.15
52W range

ETF.net Grade

Pillar letters and Scores for FLLA, XSOE, with each pillar’s weight
Pillar	FLLA	XSOE
Cost30% weight	A86Higher	A71
Mission25% weight	C49	A100Higher
Risk15% weight	D25	C48Higher
Tradability15% weight	B65Higher	C53
Holdings10% weight	C52	B59Higher
Durability5% weight	C53	A81Higher

Rank among Emerging Markets Stocks funds

How we build Categories ›

Same Category. FLLA 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 FLLA 13th 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 12BEWXState Street SPDR S&P Emerging Markets Small Cap ETFScore 60
Rank 13BFLLAFranklin FTSE Latin America ETFScore 59
Rank 13BSTXEStrive Emerging Markets Ex-China ETFScore 59

Our read on each fund

ETF.net Research

FLLABFranklin FTSE Latin America ETF

XSOEAWisdomTree Emerging Markets ex-State-Owned Enterprises Fund

In short

FLLA A single-region slice of emerging markets: FLLA tracks the FTSE Latin America Capped Index, roughly 150 stocks, for 0.19% a year, while the typical fund in its emerging-markets peer group charges more than double that.

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

FLLA The Fund seeks to track, before fees and expenses, the performance of the FTSE Latin America Capped Index through replication or representative sampling.

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

FLLA 0.19% a year against a peer-group median near 0.49%. Regional access is usually where fees creep up; here it doesn't.
Roughly 150 names, and the index is capped, which limits how big any single stock can get inside the basket.
Plain index plumbing from a 2018 launch: replication or representative sampling of a published FTSE benchmark, no derivatives layer, no active stock picking.
Ranks in the upper half of its emerging-markets cohort, and pays out quarterly.

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

FLLA Thinly traded. Spreads can widen and large orders move the price more than they would in a heavily traded fund.
One region, not a continent-spanning EM sleeve. Cohort peers like VEXC and XCEM spread across the whole emerging-markets universe; this one rides Latin America alone.
A smaller fund by assets, not one of the giants of the category.

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 FLLA profile⁠

Full XSOE profile⁠

FLLA vs XSOE Holdings

How FLLA and XSOE differ

Overlap by weight

4.0%

Shared holdings make up 47.7% of FLLA and 4.0% of XSOE.

Level by level

Holdings55 in both4.0%
Countryby domicile5.4%
Sector11 Sectors44.1%
Asset classEquity100%

Sector

Sector weights in FLLA and XSOE, widest gap first
Sector	More in FLLAMore in XSOE	FLLA	XSOE
Technology	XSOE +42.6 points	0.4%	43.0%
Materials	FLLA +12.5 points	17.7%	5.2%
Energy	FLLA +11.5 points	13.2%	1.7%
Financials	FLLA +11.4 points	26.1%	14.7%
Utilities	FLLA +8.3 points	9.4%	1.1%
Consumer Discretionary	XSOE +8.0 points	3.1%	11.1%
Consumer Staples	FLLA +6.6 points	10.5%	3.9%
Industrials	FLLA +3.7 points	11.9%	8.2%
Health Care	XSOE +2.9 points	1.6%	4.5%
Communication	XSOE +2.3 points	3.2%	5.5%
Real Estate	FLLA +1.8 points	2.8%	1.0%

Country, concentration and asset class

Country by domicile

Country weights in FLLA and XSOE, widest gap first
Country	More in FLLAMore in XSOE	FLLA	XSOE
Brazil	FLLA +53.4 points	56.3%	2.9%
Taiwan	XSOE +29.7 points	0.0%	29.7%
Mexico	FLLA +28.7 points	30.8%	2.1%
South Korea	XSOE +23.6 points	0.0%	23.6%
China	XSOE +16.6 points	0.0%	16.6%
India	XSOE +14.2 points	0.0%	14.2%
Chile	FLLA +8.4 points	8.8%	0.4%
Colombia	FLLA +4.0 points	4.1%	0.1%
Other countries (11)	XSOE +10.4 points	0.0%	10.4%

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

Concentration

Weight in the 10 largest Holdings

FLLA40.0%
XSOE37.1%

Securities held

FLLA130
XSOE842

Asset class

FLLA: Equity
XSOE: Equity

Holdings

Only in FLLA75
In both55
Only in XSOE787

Only in FLLA

75 securities, 52.2% of FLLA by weight

Petrobras - Petroleo Bras5.96%
Vale SA5.53%
Petrobras - Petroleo Bras5.53%
Itau Unibanco Holding S-P5.21%
America Movil Sab De C-Se2.50%
Banco Bradesco Sa-Pref1.88%
Itausa SA1.80%
Axia Energia SA1.56%
Banco Btg Pactual Sa-Unit1.51%
Cia Saneamento Basico De1.43%
Grupo Cibest SA - Pref1.36%
Soc Quimica Y Minera Chil1.03%
Falabella SA1.02%
Gerdau Sa-Pref0.78%
Banco Do Brasil S.a.0.70%
Companhia Paranaense De E0.67%
Banco De Credito E Invers0.65%
Bb Seguridade Participaco0.63%
Ecopetrol SA0.53%
Fibra Mty Sapi De Cv0.52%
Interconexion Electrica’s0.48%
Net Current Assets0.48%
Sigma Foods Sab De Cv0.45%
Cia Energetica Minas Ger-0.44%
Kimberly-Clark De Mexico-0.41%
Plaza SA Y Filiales0.38%
Promotora Y Operadora De0.38%
Grupo De Inv Suramericana0.35%
Parque Arauco S.a.0.35%
Caixa Seguridade Particip0.32%
Megacable Holdings-Cpo0.32%
Gentera Sab De Cv0.29%
Cia Saneamento Minas Gera0.29%
Qualitas Controladora Sab0.28%
Regional Sab De Cv0.27%
Enel Chile SA0.27%
Embotelladora Andina-Pref0.26%
Gruma S.a.b.-B0.25%
Alpek SA De Cv0.23%
Metalurgica Gerdau Sa-Pre0.23%
Cementos Argos SA0.23%
Gcc Sab De Cv0.21%
Allos SA0.20%
Smartfit - Ordinary0.20%
Porto Seguro SA0.20%
Grupo Comercial Chedraui0.20%
Isa Energia Brasil SA0.20%
Cpfl Energia SA0.19%
Hypera SA0.19%
Banco Itau Chile SA0.18%

Only in XSOE

787 securities, 97.0% of XSOE by weight

Taiwan Semiconductor Manufacturing Co Ltd14.18%
Samsung Electronics Co Ltd7.31%
SK Hynix Inc6.50%
Tencent Holdings Ltd2.27%
MediaTek Inc1.75%
Alibaba Group Holding Ltd1.72%
Al Rajhi Bank1.11%
Hon Hai Precision Industry Co0.76%
Hdfc Bank Limited0.76%
SK Square Co Ltd0.72%
MercadoLibre Inc0.71%
Reliance Industries Ltd0.70%
Delta Electronics Inc0.69%
Bharti Airtel Ltd0.63%
ICICI Bank Ltd0.62%
Kuwaiti Dinar0.60%
ASE Technology Holding Co Ltd0.60%
Contemporary Amperex Techn-A0.50%
Samsung Electro-Mechanics Co L0.47%
Kookmin Bank0.41%
PDD Holdings Inc.0.40%
Zhongji Innolight Co Ltd-A0.40%
National Bank of Kuwait0.40%
CTBC Financial Holding Co Ltd0.40%
Ping An Insurance Group Co of China0.39%
Fubon Financial Holding Co Ltd0.38%
United Microelectronics Corp0.38%
Nan Ya Plastics Corp0.38%
Unimicron Technology Corp0.37%
Elite Material Co Ltd0.36%
Capitec Bank Holdings Ltd0.35%
Xiaomi Corp-Class B0.34%
FirstRand Ltd0.34%
Standard Bank Group Ltd0.33%
Midea Group Co Ltd0.32%
Delta Electronics Thailand PCL - NVDR0.32%
Meituan - Class B0.32%
Axis Bank Ltd0.32%
Shinhan Financial Group Ltd0.32%
Cathay Financial Holding Co Ltd0.31%
Yuanta Financial Holding Co Ltd0.30%
Netease Inc0.30%
Mahindra & Mahindra Ltd0.30%
Taishin Financial Holding Co Ltd0.29%
OTP Bank PLC0.29%
MTN Group Ltd0.28%
Infosys Ltd ADR0.28%
Asia Vital Components Co Ltd0.27%
Wuxi Apptec Co Ltd-A0.27%
Hyundai Motor Co0.27%

Weight gaps

All 55 Holdings in both funds, largest gap first.

Holding weights in FLLA and XSOE, widest gap first
Holding	More in FLLAMore in XSOE	FLLA	XSOE
Grupo Mexico Sab De Cv-Se	FLLA +4.24 points	4.57%	0.33%
Grupo Financiero Banorte-	FLLA +3.46 points	3.71%	0.25%
Fomento Economico Mexica-	FLLA +2.70 points	2.90%	0.20%
Cemex Sab-Cpo	FLLA +2.04 points	2.19%	0.15%
Walmart De Mexico Sab De	FLLA +1.72 points	1.80%	0.08%
Weg SA	FLLA +1.60 points	1.79%	0.19%
B3 Sa-Brasil Bolsa Balcao	FLLA +1.55 points	1.69%	0.14%
Embraer SA	FLLA +1.50 points	1.69%	0.19%
Ambev SA	FLLA +1.42 points	1.55%	0.13%
Arca Continental Sab De C	FLLA +1.34 points	1.40%	0.06%
Prio SA	FLLA +1.29 points	1.44%	0.15%
Banco De Chile	FLLA +1.00 points	1.12%	0.12%
Industrias Penoles Sab De	FLLA +0.96 points	1.03%	0.07%
Grupo Aeroport Del Pacifi	FLLA +0.93 points	1.04%	0.11%
Latam Airlines Group SA	FLLA +0.84 points	0.90%	0.06%
Grupo Cibest SA	FLLA +0.76 points	0.83%	0.07%
Suzano SA	FLLA +0.75 points	0.83%	0.08%
Equatorial SA - Ord	FLLA +0.74 points	0.83%	0.09%
Vibra Energia SA	FLLA +0.70 points	0.77%	0.07%
Coca-Cola Femsa Sab De Cv	FLLA +0.65 points	0.72%	0.07%
Trust Fibra Uno	FLLA +0.61 points	0.68%	0.07%
Prologis Property Mexico	FLLA +0.61 points	0.65%	0.04%
Grupo Carso Sab De Cv-Ser	FLLA +0.58 points	0.62%	0.04%
Localiza Rent A Car	FLLA +0.57 points	0.61%	0.04%
Banco Santander Chile	FLLA +0.54 points	0.62%	0.08%
Grupo Bimbo Sab- Series A	FLLA +0.55 points	0.57%	0.02%
Rede D'or Sao Luiz SA	FLLA +0.53 points	0.60%	0.07%
Ultrapar Participacoes SA	FLLA +0.51 points	0.57%	0.06%
Eneva SA	FLLA +0.50 points	0.58%	0.08%
Grupo Aeroport Del Surest	FLLA +0.49 points	0.53%	0.04%
Telefonica Brasil S.a.	FLLA +0.48 points	0.54%	0.06%
Banco Bradesco S.a.	FLLA +0.48 points	0.50%	0.02%
Itau Unibanco Holding SA	FLLA +0.46 points	0.54%	0.08%
Raia Drogasil SA	FLLA +0.46 points	0.50%	0.04%
Rumo SA	FLLA +0.44 points	0.48%	0.04%
Grupo Aeroportuario Del C	FLLA +0.43 points	0.47%	0.04%
Energisa Sa-Units	FLLA +0.43 points	0.47%	0.04%
Motiva Infraestrutura De	FLLA +0.39 points	0.43%	0.04%
Totvs SA	FLLA +0.38 points	0.42%	0.04%
Corp Inmobiliaria Vesta’s	FLLA +0.37 points	0.42%	0.05%
Grupo Financiero Inbursa-	FLLA +0.36 points	0.39%	0.03%
Klabin SA - Unit	FLLA +0.35 points	0.38%	0.03%
Tim SA	FLLA +0.33 points	0.37%	0.04%
Empresas Copec SA	FLLA +0.32 points	0.34%	0.03%
Banco Del Bajio SA	FLLA +0.28 points	0.31%	0.03%
Engie Brasil Energia SA	FLLA +0.27 points	0.29%	0.02%
Mbrf Global Foods Company	FLLA +0.26 points	0.29%	0.03%
Cencosud SA	FLLA +0.25 points	0.28%	0.03%
Sendas Distribuidora SA	FLLA +0.24 points	0.26%	0.02%
Banco Santander Brasil-Un	FLLA +0.22 points	0.24%	0.02%
Lojas Renner S.a.	FLLA +0.21 points	0.22%	0.01%
Enel Americas SA	FLLA +0.19 points	0.21%	0.02%
Multiplan Empreendimentos	FLLA +0.18 points	0.20%	0.02%
Transmissora Alianca De-U	FLLA +0.17 points	0.21%	0.04%
Gps Participacoes E Empre	FLLA +0.10 points	0.11%	0.01%

All 154 FLLA 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.

FLLA vs XSOE Cost

Overpaying XSOE vs FLLA

$2,590

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

FLLA 0.19%
$3,952
XSOE 0.32%
$6,542

Amount$10,000

Years30 years

Cost over time

FLLA 0.19%
XSOE 0.32%
Overpaying

Year by year

Year	FLLA	XSOE	Overpaying
10	$347	$580	$233
20	$1,351	$2,250	$899
30	$3,952	$6,542	$2,590

Expense ratio

0.19%FLLA, cheaper
0.32%XSOE

FLLA0.19%XSOE0.32%

0.07%0.91%

Middle half of Emerging Markets Stocks funds
Median 0.45%

FLLA 4th cheapest of 20 funds

XSOE 6th cheapest of 20 funds

FLLA vs XSOE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FLLA 5.11%, better; XSOE 1.82%
Payout (12M): FLLA $1.30; XSOE $0.78
Last payment: FLLA $0.37; XSOE $0.22
Ex-dividend: FLLA Jun 26, 2026; XSOE Sep 25, 2026
Paid on: FLLA Jul 6, 2026; XSOE Sep 29, 2026
Frequency: FLLA Twice a year; XSOE Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FLLATwice a year · 19 paymentsAll FLLA payments⁠

XSOEQuarterly · 33 paymentsAll XSOE payments⁠

FLLA vs XSOE Risk

Fall from peak · 5 years

FLLA
XSOE

Risk facts

VolatilityStd dev, 3 years: FLLA 19.5%XSOE 17.0%, better
Return per unit of riskSharpe ratio, 3 years: FLLA 0.51XSOE 0.90, better
Worst fallMax drawdown, 5 years: FLLA −28.3%, betterXSOE −37.2%
Market sensitivityBeta, 5 years: FLLA 0.99XSOE 1.18; Market = 1

FLLA and XSOE in the news

All news⁠

Top Movers
Brazil small-cap fund falls 37% in the week Lula won again
Oct 30, 2026FLLA
Top Movers
Brazil funds fall as much as 31.6% after Lula wins the runoff
Oct 26, 2026FLLA
Top Movers
Brazil funds held their election gain through Friday
Oct 9, 2026FLLA
ETF Filings
Chile's LarrainVial files an active Latin America ETF through Tidal
Sep 23, 2026FLLA

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FLLA vs XSOE

In short

Stated mandate

Why people hold it