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XSOE ETF — Holdings & Analysis

The WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE) is an ETF with $1.85 billion in assets under management and an expense ratio of 0.32%. XSOE provides exposure to emerging market equities while excluding state-owned enterprises, offering a differentiated approach within the emerging markets category. This fund seeks to track the performance of a modified float-adjusted market cap weighted index, focusing on companies with less government involvement. Past performance does not guarantee future results.

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE) ETF — Price, Holdings & Analysis

The WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE) is an ETF with $1.85 billion in assets under management and an expense ratio of 0.32%. XSOE provides exposure to emerging market equities while excluding state-owned enterprises, offering a differentiated approach within the emerging markets category. This fund seeks to track the performance of a modified float-adjusted market cap weighted index, focusing on companies with less government involvement. Past performance does not guarantee future results.

ETF Overview

Under normal circumstances, at least 80% of the fund's total assets will be invested in component securities of the index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities. The index is a modified float-adjusted market cap weighted index that consists of common stocks in emerging markets, excluding common stocks of "state-owned enterprises." The fund is non-diversified.
XSOE aims to provide investors with targeted exposure to emerging market companies, specifically excluding those with significant state ownership. This strategy is implemented by tracking a modified float-adjusted market capitalization weighted index. The fund invests at least 80% of its total assets in the component securities of the index. By excluding state-owned enterprises, XSOE seeks to capture the growth potential of emerging market companies that are more driven by market forces and less influenced by government policies. The fund's top holdings include Taiwan Semiconductor Manufacturing Co Ltd (12.15%), Samsung Electronics Co Ltd (6.03%), and Tencent Holdings Ltd (3.38%). Sector allocation is heavily weighted towards Technology (32.5%), followed by Cash & Others (21.1%) and Consumer Cyclical (11.3%). Country exposure is diversified across Taiwan (22.2%), China (21.5%), India (16.8%), and South Korea (16.6%). XSOE is non-diversified.

Risk Metrics

XSOE, while providing exposure to a broad range of emerging market companies, carries certain risks. The fund's concentration in the technology sector (32.5%) exposes it to sector-specific downturns. Country exposure is also concentrated in Taiwan, China, India and South Korea, which could amplify the impact of regional economic or political events. The fund's beta of 0.98 indicates that it is slightly less volatile than the broader market. The expense ratio of 0.32% will create a small drag on performance over time. As a non-diversified fund, XSOE may invest a larger portion of its assets in a smaller number of issuers than a diversified fund. Past performance does not guarantee future results.

Expense Ratio

0.32%

Top Holdings

Sector Allocation

  • Technology: 32.5%
  • Cash & Others: 21.1%
  • Consumer Cyclical: 11.3%
  • Financial Services: 9.9%
  • Industrials: 7.1%
  • Communication Services: 6.1%
  • Basic Materials: 3.9%
  • Consumer Defensive: 2.7%
  • Healthcare: 2.6%
  • Energy: 1.7%
  • Real Estate: 0.6%
  • Utilities: 0.5%
  • Taiwan: 22.2%
  • China: 21.5%
  • India: 16.8%
  • South Korea: 16.6%
  • South Africa: 4.0%
  • Brazil: 3.2%
  • Saudi Arabia: 3.0%
  • Mexico: 2.4%
  • Thailand: 1.4%
  • Malaysia: 1.2%

Dividend Yield

1.32%

Risk Metrics

  • Beta: 0.98

Questions & Answers

What is XSOE and what does it track?

XSOE, the WisdomTree Emerging Markets ex-State-Owned Enterprises Fund, is an ETF that seeks to track the performance of a modified float-adjusted market capitalization weighted index composed of companies in emerging markets, excluding state-owned enterprises. The fund aims to provide exposure to emerging market economies while avoiding companies with significant government ownership. With $1.85 billion in assets under management, XSOE offers a targeted approach to investing in emerging markets. The fund's top holdings include companies like Taiwan Semiconductor Manufacturing and Samsung Electronics.

What is the expense ratio for XSOE?

The expense ratio for XSOE is 0.32%. This means that for every $10,000 invested in the fund, $32 is used to cover annual operating expenses. While this charge impacts overall returns, it is lower than the category average of 0.44% for emerging market equity ETFs. the may be worth researching expense ratio as part of their overall investment decision.

What are the top holdings in XSOE?

The top holdings in XSOE include some of the largest and most influential companies in emerging markets. As of 2026-03-15, the top three holdings are Taiwan Semiconductor Manufacturing Co Ltd (12.15%), Samsung Electronics Co Ltd (6.03%), and Tencent Holdings Ltd (3.38%). Other significant holdings include SK Hynix Inc (3.15%) and Alibaba Group Holding Ltd Ordinary Shares (2.92%). These companies represent a significant portion of the fund's overall performance.

Is XSOE a good long-term investment?

Whether XSOE is a suitable long-term investment depends on an individual's investment goals, risk tolerance, and time horizon. The fund offers exposure to emerging markets while excluding state-owned enterprises, which may appeal to investors seeking market-driven growth. XSOE's sector allocation is heavily weighted towards technology (32.5%), which could be beneficial or detrimental depending on the performance of that sector. Investors should carefully consider the fund's strategy, holdings, and risk factors before making a decision. Past performance does not guarantee future results.

How does XSOE compare to similar ETFs?

XSOE differentiates itself from other emerging market ETFs through its exclusion of state-owned enterprises. This targeted approach may appeal to investors seeking exposure to market-driven companies. With an expense ratio of 0.32%, XSOE is competitively priced compared to some other ETFs in the category. The fund's AUM of $1.85 billion indicates a substantial investor interest. Other emerging market ETFs may have different investment strategies, sector allocations, and country exposures, so investors should compare these factors carefully.

Does XSOE pay dividends?

Yes, XSOE distributes dividends to its shareholders. The current dividend yield for XSOE is 1.32%. This means that for every $100 invested in the fund, investors can expect to receive $1.32 in dividend payments annually, before taxes. Dividend payments can vary over time and are not guaranteed.