CNQQ vs. CAS

Last updated Jun 23, 2026

CNQQ (Rayliant-ChinaAMC Transformative China Tech ETF) and CAS (Simplify China A Shares PLUS Income ETF) are both China Equities funds. CNQQ is passively managed, while CAS is actively managed. At a 0.48 correlation, their price movements are largely independent. CNQQ charges 0.75%/yr vs 0.88%/yr for CAS.

Performance

CNQQ vs. CAS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rayliant-ChinaAMC Transformative China Tech ETF (CNQQ) and Simplify China A Shares PLUS Income ETF (CAS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CNQQ

• 1D: 0.95%
• 1M: 4.74%
• YTD: 13.99%
• 6M: 13.47%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAS

• 1D: -1.70%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CNQQ vs. CAS - Yearly Performance Comparison

	2026 (YTD)
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF	2.13%
CAS Simplify China A Shares PLUS Income ETF	-5.11%

Correlation

The correlation between CNQQ and CAS is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 4, 2026	0.48

Return for Risk

CNQQ vs. CAS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rayliant-ChinaAMC Transformative China Tech ETF (CNQQ) and Simplify China A Shares PLUS Income ETF (CAS). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

CNQQ vs. CAS - Drawdown Comparison

The maximum CNQQ drawdown since its inception was -17.82%, which is greater than CAS's maximum drawdown of -5.11%. Use the drawdown chart below to compare losses from any high point for CNQQ and CAS.

Drawdown Indicators

	CNQQ	CAS	Difference
Max Drawdown Largest peak-to-trough decline	-17.82%	-5.11%	-12.71%
Current Drawdown Current decline from peak	0.00%	-5.11%	+5.11%
Average Drawdown Average peak-to-trough decline	-8.84%	-3.16%	-5.68%

Volatility

Volatility by Period

	CNQQ	CAS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	25.06%	13.51%	+11.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.06%	13.51%	+11.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.06%	13.51%	+11.55%

CNQQ vs. CAS - Expense Ratio Comparison

CNQQ has a 0.75% expense ratio, which is lower than CAS's 0.88% expense ratio.

Dividends

CNQQ vs. CAS - Dividend Comparison

CNQQ's dividend yield for the trailing twelve months is around 0.22%, while CAS has not paid dividends to shareholders.

Position	TTM	2025
CAS Simplify China A Shares PLUS Income ETF	0.00%	0.00%
CNQQ Rayliant-ChinaAMC Transformative China Tech ETF	0.22%	0.09%

Frequently Asked Questions

Can I hold both CNQQ and CAS in my portfolio?

CNQQ and CAS have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CNQQ or CAS?

On fees, CNQQ is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CNQQ or CAS?

CNQQ is cheaper with a 0.75% expense ratio, compared with 0.88% for CAS.

Which ETF pays a higher dividend yield, CNQQ or CAS?

CNQQ has the higher dividend yield at 0.22%, compared with 0.00% for CAS.

What is the main difference between CNQQ and CAS?

They also come from different issuers: Rayliant and Simplify. Their fees differ too: 0.75% for CNQQ and 0.88% for CAS.