CNQQ vs. ASHS
CNQQ (Rayliant-ChinaAMC Transformative China Tech ETF) and ASHS (Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF) are both China Equities funds - CNQQ tracks the Solactive ChinaAMC Transformative China Tech while ASHS tracks the CSI 500 Index. Both are passively managed. Their 0.78 correlation means they have sometimes moved together and sometimes differently. CNQQ charges 0.75%/yr vs 0.65%/yr for ASHS.
Performance
CNQQ vs. ASHS - Performance Comparison
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Returns By Period
In the year-to-date period, CNQQ achieves a 1.50% return, which is significantly lower than ASHS's 5.42% return.
CNQQ
- 1D
- 0.73%
- 1M
- -4.81%
- 6M
- -0.44%
- YTD
- 1.50%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
ASHS
- 1D
- 1.43%
- 1M
- -11.80%
- 6M
- -5.14%
- YTD
- 5.42%
- 1Y
- 31.86%
- 3Y*
- 10.54%
- 5Y*
- 2.02%
- 10Y*
- 2.41%
- ALL TIME*
- 5.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $378.39K | $628.93K | $596.17K | |
| $685.05K | $467.08K | $508.55K |
CNQQ vs. ASHS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF | 1.50% | -5.22% |
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF | 5.42% | 4.42% |
Correlation
The correlation between CNQQ and ASHS is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 26, 2025 | 0.78 |
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Return for Risk
CNQQ vs. ASHS — Risk / Return Rank
CNQQ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ASHS
CNQQ vs. ASHS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Rayliant-ChinaAMC Transformative China Tech ETF (CNQQ) and Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF (ASHS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CNQQ | ASHS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.21 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.83 | — |
| Martin ratioReturn relative to average drawdown | — | 5.53 | — |
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Drawdowns
CNQQ vs. ASHS - Drawdown Comparison
The maximum CNQQ drawdown since its inception was -17.82%, smaller than the maximum ASHS drawdown of -69.90%. Use the drawdown chart below to compare losses from any high point for CNQQ and ASHS.
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Drawdown Indicators
| CNQQ | ASHS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.82% | -69.90% | +52.08% |
Max Drawdown (1Y)Largest decline over 1 year | — | -17.46% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -34.13% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -47.81% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.81% | — |
Current DrawdownCurrent decline from peak | -12.07% | -39.15% | +27.08% |
Average DrawdownAverage peak-to-trough decline | -8.56% | -48.36% | +39.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 5.76% | — |
Volatility
CNQQ vs. ASHS - Volatility Comparison
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Volatility by Period
| CNQQ | ASHS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 12.45% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 21.30% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 27.77% | 26.59% | +1.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.77% | 27.11% | +0.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.77% | 25.86% | +1.91% |
CNQQ vs. ASHS - Expense Ratio Comparison
CNQQ has a 0.75% expense ratio, which is higher than ASHS's 0.65% expense ratio.
Dividends
CNQQ vs. ASHS - Dividend Comparison
CNQQ's dividend yield for the trailing twelve months is around 0.39%, while ASHS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASHS Xtrackers Harvest CSI 500 China A-Shares Small Cap ETF | 0.00% | 0.00% | 0.69% | 0.65% | 1.90% | 0.76% | 0.43% | 0.57% | 0.00% | 0.00% | 0.00% | 8.34% |
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF | 0.39% | 0.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CNQQ and ASHS have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ASHS is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ASHS is cheaper with a 0.65% expense ratio, compared with 0.75% for CNQQ.
CNQQ has the higher dividend yield at 0.39%, compared with 0.00% for ASHS.
CNQQ tracks Solactive ChinaAMC Transformative China Tech, while ASHS tracks CSI 500 Index. They also come from different issuers: Rayliant and Deutsche Bank. Their fees differ too: 0.75% for CNQQ and 0.65% for ASHS.
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